FIRE Calculator
Use this calculator as part of a full early-retirement plan, not in isolation: compare the output with the early retirement in Canada guide, the coast FIRE calculator, and Barista FIRE in Canada. If the number feels too big, pair it with how much you should invest per month in Canada and the investment calculator to see what actually closes the gap.
Calculate your Financial Independence, Retire Early number and timeline.
Your FIRE Number Formula
FIRE Number = Annual Expenses × 25
This is based on the 4% safe withdrawal rate — you can withdraw 4% of your portfolio annually with low risk of running out of money over a 30+ year retirement.
FIRE Number by Annual Expenses
| Annual Expenses | FIRE Number | Monthly from 4% |
|---|---|---|
| $30,000 | $750,000 | $2,500 |
| $40,000 | $1,000,000 | $3,333 |
| $50,000 | $1,250,000 | $4,167 |
| $60,000 | $1,500,000 | $5,000 |
| $70,000 | $1,750,000 | $5,833 |
| $80,000 | $2,000,000 | $6,667 |
| $100,000 | $2,500,000 | $8,333 |
Years to FIRE by Savings Rate
| Savings Rate | Years to FIRE |
|---|---|
| 10% | 51 years |
| 20% | 37 years |
| 30% | 28 years |
| 40% | 22 years |
| 50% | 17 years |
| 60% | 12.5 years |
| 70% | 8.5 years |
| 80% | 5.5 years |
Assumes 7% real returns (after inflation) and starting from $0
Canadian FIRE Advantages
Tax-advantaged accounts
| Account | 2026 Limit | FIRE Benefit |
|---|---|---|
| TFSA | $7,000/year | Tax-free withdrawals, flexible access |
| RRSP | 18% of income | Tax deduction now, low-tax withdrawal later |
| FHSA | $8,000/year | Tax deduction + tax-free for housing |
Government benefits
| Benefit | Starting Age | 2026 Maximum |
|---|---|---|
| CPP | 60-70 | $1,364.60/month (at 65) |
| OAS | 65-70 | $727.67/month (at 65) |
These benefits reduce your FIRE number. A couple receiving full CPP and OAS gets ~$40,000/year, reducing needed portfolio size by ~$1,000,000.
Types of FIRE
| Type | Description | Target |
|---|---|---|
| Regular FIRE | Standard 25× expenses | Full retirement |
| Lean FIRE | Frugal living, <$40K/year | $1,000,000 or less |
| Fat FIRE | Higher spending, $100K+/year | $2,500,000+ |
| Barista FIRE | Part-time work covers some expenses | Lower portfolio needed |
| Coast FIRE | Stop saving, let compound growth work | See Coast FIRE Calculator |
Sample Canadian FIRE Timeline
Scenario: $100,000 household income, $50,000 savings/year (50% rate)
| Year | Portfolio | Status |
|---|---|---|
| 0 | $0 | Starting |
| 5 | $307,000 | Building |
| 10 | $730,000 | 73% to Coast FIRE |
| 15 | $1,330,000 | Approaching FIRE |
| 17 | $1,560,000 | FIRE achieved |
Assumes 7% real returns
Canadian FIRE Strategy
Phase 1: Accumulation
- Max RRSP (get tax refund)
- Reinvest RRSP refund into TFSA
- Use FHSA if buying first home
- Taxable account after registered full
Phase 2: Early Retirement (before 65)
- Withdraw from TFSA (tax-free)
- Convert RRSP to RRIF, withdraw at low rate
- Part-time income if needed
Phase 3: Traditional Retirement (65+)
- CPP begins (or delay to 70 for 42% more)
- OAS begins
- Reduced portfolio withdrawals needed