Early Retirement Calculator

Category: Retirement

- October 24, 2025

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Calculate when you can retire based on your current savings, income, expenses, and investment returns.

This calculator helps you determine your Financial Independence / Retire Early (FIRE) target and timeline.

Current Financial Situation

Current Age:

Current Savings:

Annual After-Tax Income:

Annual Expenses:

Retirement Goals

FIRE Method:

Expected Annual Expenses in Retirement:

Safe Withdrawal Rate (%):

Investment Assumptions

Expected Annual Return (%):

Expected Annual Inflation (%):

Annual Income Increase (%):

Annual Savings Increase (%):

Advanced Options

State Pension Age:

Monthly State Pension Amount:

Include State Pension in calculations

Decimal Places:

Early Retirement Analysis

Financial Independence Target

£875,000

Total Savings Needed

Time to FIRE

15.3 years

Expected Age: 45

Current Savings Rate

42.9%

of after-tax income

Annual Savings

£30,000

Current amount

Safe Monthly Income

£2,916

in retirement

Net Worth Projection

Financial Milestones

Milestone	Target Amount	Date	Age	Years from Now

Detailed Projection

Year	Age	Annual Income	Annual Expenses	Annual Savings	Investment Return	Net Worth	Progress

Calculation Explanation

About Early Retirement & FIRE

FIRE (Financial Independence, Retire Early) is a movement focused on extreme savings and investment to enable early retirement. Understanding different FIRE approaches can help you choose the right strategy for your goals.

Different FIRE Approaches

Traditional FIRE: Typically uses the 25x rule (saving 25 times your annual expenses) based on the 4% safe withdrawal rate.
Lean FIRE: Aims for a more minimal lifestyle, often with annual expenses under £40,000 and typically uses a 20x multiple.
Fat FIRE: Targets a more luxurious retirement lifestyle with no significant expense reductions, often using a 30x or higher multiple.
Coast FIRE: Achieved when you have enough invested that, without any additional contributions and given enough time, your investments will grow to support your retirement.
Barista FIRE: A hybrid approach where you have enough saved to cover basic expenses, but still work part-time to cover discretionary spending.

Key FIRE Concepts

Savings Rate: The percentage of your income you save, the single most important factor in determining your time to financial independence.
Safe Withdrawal Rate: The percentage of your portfolio you can withdraw annually with minimal risk of running out of money (traditionally 4%, based on the Trinity Study).
The 25x Rule: The principle that you need approximately 25 times your annual expenses to retire safely (the inverse of the 4% rule).
Financial Independence (FI): The point at which your investments generate enough income to cover your expenses indefinitely.

Factors Affecting Your FIRE Timeline

Your savings rate (the most impactful factor)
Investment returns
Current net worth
Lifestyle costs and desired retirement expenses
Income growth and career progression
Major life events and their financial impact

Understanding the Early Retirement-calculator/">Retirement Calculator

The Early Retirement Calculator helps you figure out when you might be able to retire based on your Financial situation. It takes into account your current savings, income, expenses, and expected Investment returns. By using this calculator, you can get a clear picture of when you can achieve Financial Independence and retire early.

Assessing Your Financial Situation

When you start using the calculator, you’ll need to provide some important details about your finances. This includes your current age, how much you have saved, your annual income after taxes, and your yearly expenses. These figures help the calculator create a personalised plan for your retirement goals.

Setting Retirement Goals

Your retirement goals play a huge role in planning your finances. The calculator lets you choose a strategy, such as Traditional FIRE or Lean FIRE, which helps set a target savings amount. Additionally, you can specify your expected annual expenses during retirement and the percentage you plan to withdraw each year.

Investment Assumptions for Future Planning

Next, you'll need to input your expected returns from investments and any annual increases in your income or savings. This information is crucial for creating realistic projections. Here’s what to think about:

Expected Annual Return: The average percentage you expect to earn on your investments.
Annual Income Increase: Any expected raises or increases in your salary over time.
Annual Savings Increase: The rate at which you plan to increase your savings each year.

Advanced Options to Tailor Your Plan

The Early Retirement Calculator also offers advanced options to refine your plan further. You can include details about Social Security benefits, like the age you expect to receive them and the monthly amount you might get. This helps create a more accurate picture of your retirement finances and adjusts your savings needs accordingly.

Results and Projections at a Glance

After entering your information, the calculator provides a detailed analysis of your retirement readiness. You’ll see how much you need to save to reach your retirement goals, how long it will take to get there, and what your expected annual income will be in retirement. It even shows projections of your net worth over time!

Understanding FIRE and Its Approaches

The calculator incorporates different FIRE strategies, helping you choose the best fit for your lifestyle. You can decide between options like Traditional FIRE, where you save 25 times your yearly expenses, or Lean FIRE, which requires a more minimal approach. Understanding these options can significantly influence your retirement planning.

Factors That Influence Your Retirement Timeline

Several factors can impact how quickly you can retire, such as your savings rate, investment returns, and desired lifestyle costs. Being aware of these elements can help you set more realistic goals. Consider these key factors:

Your current savings and net worth
Income growth and job stability
Major life events that might affect your finances