One of our readers requested us to add a cell in our existing early retirement calculator where people could add their already saved up retirement corpus. It was a very good input. so, we did that. Now you can also add if you have already saved up some money for retirement while calculating your early retirement corpus. However, In the process, we realized that we need more than one calculator- because there is more than one way to F.I.R.E.
Two calculators on our blog:
- F.I.R.E calculator– you can use this to calculate your F.I.R.E corpus in terms of X times your inflation-adjusted annual expenses. you can pick your number anywhere from 25X – 40X.
- Coast F.I.R.E Calculator– In coast FIRE you do not save 25X 30X or any X your annual expense. But save enough money early, which if left to compound will meet your traditional retirement expenses. in between, you rely on an active/passive income stream to pay your living expenses till age 60-65.
Why the need for 2 different calculators?
All of us FIRE aspirant fall into 2 categories
Category 1
People who never want to work again after Early Retirement. Will never generate any other passive/active income stream.
Category 2
People who want to create a big corpus as a safety net and pursue their passions and convert their hobby/passion into income source after Early retirement. In which case, COAST FIRE can be a good option. Click To TweetSo, now we have a calculator for both the category of F.I.R.E aspirants!!! so without the further wait- go ahead and check out our UPDATED CALCULATOR PAGE
