Why Do You Need a Coast FIRE Calculator?
People are interested in being financially independent and retiring early, and that’s where a Coast FIRE calculator comes in handy. Coast FIRE is different from normal retirement planning. It’s not about reaching a certain age or money goal. Instead, it’s about saving and investing enough early on so you don’t need to keep adding to your retirement fund.
How to Use the Calculator
This calculator helps you set goals that make sense for you. It looks at things like how much you’ve saved already, how fast your investments are growing, when you want to retire, and how much you’ll spend when you retire. By looking at all these details, it figures out your personal Coast FIRE number. This number is what you need to save and invest now so you can retire comfortably later without saving more.
Also, the calculator lets you play around with different situations. You can change things like how much your investments might earn (historically the stock market has returned 10% per year) or how much things might cost in the future (baking in inflation which has averaged around 3% per year). This helps you see how changes might affect your retirement plans. If you’re not sure where to start when it comes to investing, take our free Investing 101 course!
Here’s the calculator! It’ll give you a Coast FIRE number that keeps up with inflation, based on what you tell it.
Knowing your Coast FIRE number has great benefits. Once you save enough for Coast FIRE, you feel more secure financially. You won’t have to save as much for retirement, which means you can choose jobs you really like, even if they pay less. This lets you take chances, like starting your own business or changing careers, without worrying about retirement.
In short, Coast FIRE means you get financial safety and the freedom to do what you love, all before you’re old enough to retire!