Achieve Financial Independence & Health
The fastest way to achieve financial independence is by paying off your debt.
”Financial Freedom & Early Retirement Is Possible, Even With A Low Salary”
Our FIRE Calculator can help you prepare for early retirement. The FIRE calculator should never take the place of a financial advisor, but it can be helpful in preparing your for retirement. Most people plan to leave just off social security. The problem is social security will barely cover the minimum expenses.
How To Use The Fire Calculator
The big question is how much should I save for retirement? There are a few factors you need to be aware of that will impact the amount you need. First you should determine your annual income requirements in retirement. This will tell you the amount of money you’ll need in retirement, so you don’t run out of money. This will help you determine your withdrawal rate.
The stock market has averaged a expected return of 14% over the last 100 years. By comparison the annual savings rate has only average 3.5%. The investment return will change depending on your age and risk profile. Your profile should have different rates of return depending on your investments and the number of years you have until retirement.