FIRE calculator
Your FIRE number is £1,000,000, which you will reach at age 45.
FIRE summary
What is FIRE?
FIRE stands for "Financial Independence, Retire Early". It's all about giving yourself the option to retire earlier than the traditional retirement age. The idea is simple: save and invest more of your income now, so you can have more freedom later.
Here's how it works: you build up a nest egg of investments over time. Once your investments reach a certain amount (your FIRE number), you can potentially live off the returns. The goal is to be able to withdraw a small percentage each year to cover your living expenses, without having to work a traditional job if you don't want to.
This calculator helps you figure out what your FIRE number might be, and when you could potentially reach it, based on your current situation and future plans. Remember, FIRE isn't about depriving yourself now, but about finding a balance that works for you and your goals.
Your FIRE journey
You're currently 30 years old with an investment portfolio of £100,000. Your goal is to achieve financial independence by age 45, which gives you 15 years to build your nest egg.
Based on your plans to spend £30,000 annually in retirement and using a 3% withdrawal rate, your target FIRE number is £1,000,000.
With your current strategy of contributing £25,000 each year and assuming an annual growth rate of 9%, our calculations show you'll reach your FIRE number at age 45. This is exactly at your target retirement age.
You haven't factored in inflation, which might lead to an underestimation of your future needs. Consider adding a realistic inflation rate to get a more accurate picture.
Remember, this is just a projection based on consistent market returns and steady contributions. In reality, markets can be volatile, and life circumstances may affect your ability to contribute. It's a good idea to regularly review and adjust your plan as needed.
You're right on track to reach your FIRE number at your desired retirement age.
Year-by-year FIRE breakdown
| Age | Investments | FIRE Number | Growth | Contribution |
|---|---|---|---|---|
| 30 | £100,000 | £1,000,000 | £9,000 | £25,000 |
| 31 | £134,000 | £1,000,000 | £12,060 | £25,000 |
| 32 | £171,060 | £1,000,000 | £15,395 | £25,000 |
| 33 | £211,455 | £1,000,000 | £19,031 | £25,000 |
| 34 | £255,486 | £1,000,000 | £22,994 | £25,000 |
| 35 | £303,480 | £1,000,000 | £27,313 | £25,000 |
| 36 | £355,793 | £1,000,000 | £32,021 | £25,000 |
| 37 | £412,815 | £1,000,000 | £37,153 | £25,000 |
| 38 | £474,968 | £1,000,000 | £42,747 | £25,000 |
| 39 | £542,715 | £1,000,000 | £48,844 | £25,000 |
| 40 | £616,560 | £1,000,000 | £55,490 | £25,000 |
| 41 | £697,050 | £1,000,000 | £62,734 | £25,000 |
| 42 | £784,784 | £1,000,000 | £70,631 | £25,000 |
| 43 | £880,415 | £1,000,000 | £79,237 | £25,000 |
| 44 | £984,652 | £1,000,000 | £88,619 | £25,000 |
| 45 | £1,098,271 | £1,000,000 | £98,844 | £0 |
| 46 | £1,197,116 | £1,000,000 | £107,740 | £0 |
| 47 | £1,304,856 | £1,000,000 | £117,437 | £0 |
| 48 | £1,422,293 | £1,000,000 | £128,006 | £0 |
| 49 | £1,550,299 | £1,000,000 | £139,527 | £0 |
| 50 | £1,689,826 | £1,000,000 | £152,084 | £0 |
| 51 | £1,841,911 | £1,000,000 | £165,772 | £0 |
| 52 | £2,007,683 | £1,000,000 | £180,691 | £0 |
| 53 | £2,188,374 | £1,000,000 | £196,954 | £0 |
| 54 | £2,385,328 | £1,000,000 | £214,679 | £0 |
| 55 | £2,600,007 | £1,000,000 | £234,001 | £0 |
FIRE calculator
Your FIRE number is £1,000,000, which you will reach at age 45.
FIRE summary
What is FIRE?
FIRE stands for "Financial Independence, Retire Early". It's all about giving yourself the option to retire earlier than the traditional retirement age. The idea is simple: save and invest more of your income now, so you can have more freedom later.
Here's how it works: you build up a nest egg of investments over time. Once your investments reach a certain amount (your FIRE number), you can potentially live off the returns. The goal is to be able to withdraw a small percentage each year to cover your living expenses, without having to work a traditional job if you don't want to.
This calculator helps you figure out what your FIRE number might be, and when you could potentially reach it, based on your current situation and future plans. Remember, FIRE isn't about depriving yourself now, but about finding a balance that works for you and your goals.
Your FIRE journey
You're currently 30 years old with an investment portfolio of £100,000. Your goal is to achieve financial independence by age 45, which gives you 15 years to build your nest egg.
Based on your plans to spend £30,000 annually in retirement and using a 3% withdrawal rate, your target FIRE number is £1,000,000.
With your current strategy of contributing £25,000 each year and assuming an annual growth rate of 9%, our calculations show you'll reach your FIRE number at age 45. This is exactly at your target retirement age.
You haven't factored in inflation, which might lead to an underestimation of your future needs. Consider adding a realistic inflation rate to get a more accurate picture.
Remember, this is just a projection based on consistent market returns and steady contributions. In reality, markets can be volatile, and life circumstances may affect your ability to contribute. It's a good idea to regularly review and adjust your plan as needed.
You're right on track to reach your FIRE number at your desired retirement age.
Year-by-year FIRE breakdown
| Age | Investments | FIRE Number | Growth | Contribution |
|---|---|---|---|---|
| 30 | £100,000 | £1,000,000 | £9,000 | £25,000 |
| 31 | £134,000 | £1,000,000 | £12,060 | £25,000 |
| 32 | £171,060 | £1,000,000 | £15,395 | £25,000 |
| 33 | £211,455 | £1,000,000 | £19,031 | £25,000 |
| 34 | £255,486 | £1,000,000 | £22,994 | £25,000 |
| 35 | £303,480 | £1,000,000 | £27,313 | £25,000 |
| 36 | £355,793 | £1,000,000 | £32,021 | £25,000 |
| 37 | £412,815 | £1,000,000 | £37,153 | £25,000 |
| 38 | £474,968 | £1,000,000 | £42,747 | £25,000 |
| 39 | £542,715 | £1,000,000 | £48,844 | £25,000 |
| 40 | £616,560 | £1,000,000 | £55,490 | £25,000 |
| 41 | £697,050 | £1,000,000 | £62,734 | £25,000 |
| 42 | £784,784 | £1,000,000 | £70,631 | £25,000 |
| 43 | £880,415 | £1,000,000 | £79,237 | £25,000 |
| 44 | £984,652 | £1,000,000 | £88,619 | £25,000 |
| 45 | £1,098,271 | £1,000,000 | £98,844 | £0 |
| 46 | £1,197,116 | £1,000,000 | £107,740 | £0 |
| 47 | £1,304,856 | £1,000,000 | £117,437 | £0 |
| 48 | £1,422,293 | £1,000,000 | £128,006 | £0 |
| 49 | £1,550,299 | £1,000,000 | £139,527 | £0 |
| 50 | £1,689,826 | £1,000,000 | £152,084 | £0 |
| 51 | £1,841,911 | £1,000,000 | £165,772 | £0 |
| 52 | £2,007,683 | £1,000,000 | £180,691 | £0 |
| 53 | £2,188,374 | £1,000,000 | £196,954 | £0 |
| 54 | £2,385,328 | £1,000,000 | £214,679 | £0 |
| 55 | £2,600,007 | £1,000,000 | £234,001 | £0 |