Canada FIRE calculator

Calculate your financial independence number and your time to retire early.

By Mitch Duncan Last reviewed 8 July 2026 Methodology

Your numbers

Current ageMonthly expenses in retirement (CAD)Current savings (CAD)Monthly savings rate (CAD)Expected annual return (%)Safe withdrawal rate: 4%

2% (conservative)6% (aggressive)

Your FIRE number (4% SWR)

$1,200,000.00

Progress: 4.2%$50,000.00 of $1,200,000.00

Time to FIRE

19y 8m

FI age

age 51 + 8m

Annual expenses

$48,000.00

FIRE income / mo

$4,000.00

Milestones

Target	Amount	Time	Age
25% FI	$300,000.00	7y 1m	age 39 + 1m
50% FI	$600,000.00	12y 7m	age 44 + 7m
75% FI	$900,000.00	16y 7m	age 48 + 7m
100% FI	$1,200,000.00	19y 8m	age 51 + 8m

Next step

Retirement calculatorNest egg & sustainable income Read the guideThe FIRE Movement Explained

Understanding your inputs

Current age: Your age today — the starting point for the years-to-FIRE countdown.
Monthly expenses in retirement: What you expect to spend each month once retired; this sets the size of the pot you need.
Current savings: Investable assets you already have working toward financial independence.
Monthly savings rate: How much you add each month — the biggest lever on how soon you reach FIRE.
Expected annual return: The yearly growth you assume on invested savings.
Safe withdrawal rate: The share of the pot you draw yearly in retirement (often ~4%); it sets your FIRE number.

Understanding your results

Time to FIRE: How long until your savings can fund your retirement spending indefinitely.
FI age: The age you reach financial independence at your current pace.
FIRE number: The total pot you need — retirement spending divided by your safe withdrawal rate.
Annual expenses: Your retirement spending annualized, the basis for the FIRE number.

Want the full picture? The FIRE Movement Explained →

How FIRE is calculated

FIRE (Financial Independence, Retire Early) targets the asset level at which your portfolio can sustain your living expenses indefinitely:

FIRE number = annual expenses × (1 / safe withdrawal rate)

At the traditional 4% rule, that's 25× annual expenses. At 3.5% (safer for long horizons), roughly 28.5×; at 3.0%, 33×.

Worked example

Annual expenses: $40,000 → FIRE number at 4%: $1,000,000; at 3.5%: $1,140,000
Current savings: $50,000, contributing $2,500/month at 5% real return
Years to $1M target: ~16 years

Going from a 4% to 3.5% safe withdrawal rate (more conservative) adds about 1.5 years to the same plan. Lowering expenses by $5,000/year (to $35,000) cuts time to FIRE by roughly 2 years — saving more matters less than spending less, because every dollar of reduced expense both lowers the target AND raises available savings.

Savings rate is the dominant variable

At a 5% real return, time to FIRE by savings rate (Mr. Money Mustache's "Shockingly Simple Math"):

10% savings rate: ~51 years to FIRE
25%: ~32 years
50%: ~17 years
65%: ~10.5 years
75%: ~7 years
80%: ~5.5 years

FIRE flavours

Lean FIRE: Minimalist budget (often under $40,000/year household). Common in lower-cost regions.
Fat FIRE: Luxury spending ($100,000–$200,000+/year). Much larger portfolio required.
Coast FIRE: Enough invested that, with no further contributions, it grows to a traditional retirement target by 65. Lets you scale back work without saving more.
Barista FIRE: Enough to cover most expenses; part-time work fills the gap (often for healthcare access in the US).

Common mistakes

Assuming the 4% rule is bulletproof for 50-year retirements. It was studied for 30-year periods. For longer horizons, 3.0–3.5% is more defensible.
Forgetting healthcare in the US. Pre-Medicare retirees often need $10,000–$30,000+/year for insurance.
Ignoring sequence-of-returns risk. Retiring into a market drawdown can permanently impair the portfolio. A 1–3 year cash buffer helps.
Lifestyle creep after FIRE. Many "retired" people unconsciously expand spending; budget tracking remains valuable.

What this calculator doesn't cover

Sequence-of-returns risk (Monte Carlo modelling)
Tax planning around early withdrawals (Roth conversion ladders, SEPP/72(t))
Geographic arbitrage (lower-cost-of-living countries)
Pension or Social Security income that supplements withdrawals
Healthcare cost inflation specifically (typically runs higher than CPI)

For deeper FIRE modelling, see Big ERN's Safe Withdrawal Rate series and FIRECalc.

Related calculators

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Coast FIRE

Stop-saving milestone

Related guides

How to Plan for Retirement

Savings targets, account types, and the 4% withdrawal rule.

11 min read

How Much Do You Need to Retire?

The 25× rule, what changes by retirement age, how state benefits shrink the target, and a table by spending level.

10 min read

RRSP vs TFSA vs Roth vs Traditional: Which Account Wins?

Tax-deferred vs tax-free accounts across four countries — and the one rule that decides which is better for you.

9 min read

Coast FIRE: When You Can Stop Saving for Retirement

The milestone where compounding finishes the job — how to calculate your coast number and what it frees you to do.

8 min read

Key terms

FIRE Number Financial Independence (FI)Savings Rate Sequence of Returns Risk Full glossary →

Frequently asked questions

What is FIRE (Financial Independence, Retire Early)?

FIRE is a movement built around aggressive saving (typically 50%+ of income) and investing to build enough assets to live off withdrawals — typically 25× annual expenses — well before traditional retirement age. The 'retire early' part is optional; many FIRE adherents continue working in low-pressure or passion roles once financially independent.

How is the FIRE number calculated?

FIRE number = annual expenses × 25 (assuming a 4% safe withdrawal rate). If you spend $40,000/year you need $1,000,000 invested. The 25× multiple is conservative for shorter horizons and aggressive for 40+ year retirements — many in the FIRE community use 28×–33× (3–3.5% withdrawal rate) for longer time frames.

What savings rate do I need to retire in 10 years?

Roughly 65% savings rate to reach financial independence in 10 years, assuming a 5% real return. The maths is brutal but linear: 50% savings rate = ~17 years to FIRE; 70% = ~8.5 years; 80% = ~5.5 years. Lower-cost lifestyles compound the effect because lower spending also lowers your target number.

What's the difference between Lean FIRE and Fat FIRE?

Lean FIRE: financial independence on a minimalist budget (often under $40,000/year for a household). Fat FIRE: FI with luxury-tier spending (often $100,000–$200,000+/year). Coast FIRE: enough invested that, without further contributions, it grows to a traditional retirement target by 65. Barista FIRE: enough to cover most expenses with part-time work filling the gap.

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