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FIRE Calculator

3 min

Project when you could reach financial independence with your current savings plan.

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Your inputs

CAD
$
/ year
$
/ year
$
of the portfolio
Return, inflation and coasting (optional)Everything here is modelled in today's dollars
% / year
% / year

The age by which growth alone should carry you to your number.

Results update as you type

Financially independent in

27 years

That puts you at age 61 with $1,375,000, which supports $4,583 a month at a 4% withdrawal rate.

Coast FIRE is $419,667

Once you hold $419,667, growth alone gets you to your number by age 65.

You are $299,667 away from that point.

Portfolio against your number

Portfolio (today's dollars)Your FIRE number
$1703K$851K$0K
NowAge 42Age 49Age 57Age 64

The number itself

$1,375,000

Annual spending it covers$55,000
Monthly income before tax$4,583
Withdrawal rate4%
Real return after inflation3.9%

How the withdrawal rate changes it

A lower rate is a bigger portfolio and a longer wait, bought in exchange for more margin against a bad decade.

3% → $1,833,33332 years (age 66)
3.5% → $1,571,42929 years (age 63)
4% → $1,375,00027 years (age 61)
4.5% → $1,222,22224 years (age 58)

What moves the date

Your savings rate is 30% of what you spend plus invest. It is the lever with the most leverage, because it raises contributions and lowers the target at the same time.

Invested each year$24,000
Spent each year$55,000
Savings rate30%

Estimates are based on the information and assumptions you provide and are for educational purposes only. This is not financial, tax, legal or lending advice.

What this means

  • A 4.00% withdrawal rate on $1,375,000 is $4,583 a month before tax, which is what your $55,000 of annual spending needs.
  • Coast FIRE is $419,667. Once you hold that much, growth alone gets you to your number by age 65, and contributions become optional.
  • Your savings rate is about 30% of what you spend plus save. Savings rate moves this date far more than investment return does.
Test the growth assumptions

Assumptions & methodology

  • Returns average 6.50% and inflation 2.50%, so the projection grows at a real 3.90% and every figure is in today's dollars.
  • Contributions are made at the end of each year and spending stays flat in real terms.
  • Taxes, CPP, OAS and other retirement income are not modelled.
  • The withdrawal rate is a rule of thumb from historical data, not a guarantee.

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