Find out your FIRE Target Number (25x / 30x expenses) and see if your current savings strategy will let you retire early.
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FIRE stands for Financial Independence, Retire Early. The core objective is to accumulate a portfolio large enough that you can live off investment returns indefinitely without relying on active job income.
The 25x Rule: Standard FIRE methodology relies on the 4% Safe Withdrawal Rate (SWR), meaning your target FIRE corpus should be at least 25 times your expected annual living expenses at retirement.
The 4% rule assumes that if you withdraw 4% of your total portfolio in year one (adjusted for inflation thereafter), your corpus has a very high probability of lasting 30+ years.
Inflation increases the nominal cost of living every year. This calculator inflates your current expenses up to your target retirement age to give an accurate target number.
Lean FIRE: Retiring on a minimalistic lifestyle budget.
Fat FIRE: Retiring with an opulent lifestyle and higher spending cushion.