What is FIRE?
FIRE (Financial Independence, Retire Early) is a financial movement focused on extreme savings and investment to enable early retirement. It involves saving a significant portion of your income to build a retirement corpus faster.
Understanding FIRE Score
Your FIRE score indicates how close you are to achieving financial independence. It considers your expenses, savings rate, and investment returns to determine when you can retire.
Different Types of FIRE
There are various FIRE approaches: Lean FIRE (minimalist lifestyle), Regular FIRE (comfortable lifestyle), and Fat FIRE (luxurious lifestyle). Each requires different corpus amounts based on your desired lifestyle.
How to Use the Calculator
Enter your monthly expenses, current age, target retirement age, and expected inflation rate. The calculator will show you the corpus needed for different FIRE approaches.