Investing

FIRE Calculator

Estimate your Financial Independence, Retire Early age from spending, savings, investments, return assumptions, and withdrawal rate.

Before you calculate

Use this as a planning estimate, not a final answer.

Start with realistic Canadian numbers, then test a cautious case and an optimistic case. The result depends on the assumptions you enter, current rates, province-specific rules, and your personal situation.

Main assumptions

Inputs are editable and should be updated with your real income, rates, province, fees, or account limits. Calculations are simplified and may not include every tax credit, lender rule, fee, eligibility condition, or timing detail. Verify official numbers before acting. This tool is educational and is not financial, tax, legal, mortgage, or investment advice.

Basics

Current ageiEnter your current age.

years

Current invested portfolioiInclude investment accounts you would use for financial independence, such as TFSA, RRSP, FHSA transfers, taxable investments, and workplace plans.

Annual after-tax incomeiUse take-home income after tax and payroll deductions.

Annual retirement income goaliUse the annual income you want your FIRE plan to support in today's dollars.

FIRE typeiChoose the style of FIRE you want to model.Annual part-time income after FIREiFor Barista FIRE, enter expected part-time, freelance, or business income after leaving full-time work.

Assumptions

Expected annual returniUse a conservative long-term portfolio return assumption. Returns are not guaranteed.

Planning withdrawal rateiFIRE planning often starts around 4%, but a lower rate is more conservative.

Latest age to testiThe model will test each year up to this age.

years

Estimated FIRE age

At this savings rate, the model reaches financial independence around age 52.

Investment growth over time

Path to financial independence

FIRE means Financial Independence, Retire Early. This tests your portfolio against a FIRE number of $1,200,000.

Projected final value

$1,268,866

Total value (contributions + growth) Growth earned Total contributions

Total contributions

$660,000

Total growth earned

$608,866

Average monthly contribution

$2,500

FIRE number$1,200,000

Annual retirement income goal$48,000

FIRE typeTraditional FIRE

Portfolio-funded annual target$48,000

Part-time income counted$0

Annual savings$30,000

Savings rate38.5%

Projected portfolio at result age$1,268,866

Years to FIRE20

Estimate only. This tool is for informational purposes and does not replace professional financial, tax, legal, mortgage, or immigration advice. Always verify official figures before making decisions.

What FIRE means

FIRE stands for Financial Independence, Retire Early. The goal is to build enough invested assets that work becomes optional because your portfolio can support your spending.

How the FIRE number works

A common starting point is annual spending divided by a withdrawal rate. For example, spending $48,000 per year at a 4% withdrawal rate implies a $1.2 million portfolio target.

Savings rate matters

Your savings rate is one of the biggest drivers of FIRE timing because it affects both how much you invest and how much spending your portfolio must support.

Canadian FIRE accounts

TFSAs, RRSPs, FHSAs, taxable accounts, workplace pensions, CPP, OAS, and tax planning can all change a Canadian FIRE plan.

Frequently asked questions

Does FIRE mean I have to stop working?+

No. Financial independence means work becomes more optional. Some people keep working, switch careers, reduce hours, start a business, or take a sabbatical.

Is 4% always safe?+

No. The right withdrawal rate depends on retirement length, taxes, fees, inflation, investment mix, pensions, and flexibility.

Does this include CPP or OAS?+

No. This FIRE calculator focuses on portfolio-funded independence. The retirement calculator is better for including CPP, OAS, and pension income.

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