Find how much you need to retire early based on your yearly expenses and desired withdrawal rate.
The amount you spend in a year (housing, food, travel, etc.).
Commonly used rate is 4%, but adjust based on your personal situation.
Income you plan to have in retirement (rental income, part-time work, etc.).
Add your current invested savings to visualize progress toward your FIRE number.
Your FIRE Number
To achieve Financial Independence and Retire Early, you will need $0 in investments, assuming your annual expenses are $0 and you plan to withdraw 4% annually.
The FIRE number is the amount of savings you need to accumulate in order to retire early. Once you reach this amount, you can safely withdraw a set percentage of it each year to cover your living expenses.