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FIRE Calculator

Find your FIRE number, the age you could retire early from your savings rate, your Coast FIRE number, and how much you’d need outside pensions before they pay out from 60.

€

Including retirement accounts

€

A year, after tax, plus your pension contributions

€

A year. You invest €15,000: 33% of your pay

More options· 7% growth, 4% withdrawals
%

A year, after fees

%

A year

%

4% is the usual rule

%

Of what you spend now: €30,000 a year

If you stopped investing

You could retire at

54

In 24 years, 10 months, investing 33% of your pay

Your FIRE number
€750,000
Savings rate
33%
Your FIRE number: where it comes from
  • Invested now€30,000
  • You invest€372,500
  • Investment growth€349,132

What this means

Your FIRE number is what you’d spend in a year divided by the 4% you’d take out. Spending €1,000 a year less lowers it by €25,000.

That’s why spending matters twice: you invest more now and need less later.

Next step

Your investments by age, split by where the money came from
€1,000,000€500,000€0
313336394245485154
Invested nowYou investGrowthFIRE number

Coast FIRE

Coast FIRE number today€166,711
Invested now€30,000

Keep investing until about 42. After that, your investments could grow to €750,000 by 65 without you investing any more, so you’d only need to earn what you spend.

Before you can use your pensions

You retire at54
You can use your pensions from60
Years to bridge5 years
Spending to cover€155,000

Hold about €155,000 of your FIRE money outside pensions, such as in funds or shares.

PRSAs and personal pensions normally pay out from 60. Some can pay out from 50 if you retire from a job.

What would change it

Spend 10% lessAt 50 · 4 years sooner
Spend 10% moreAt 59 · 5 years later
Growth 1% lowerAt 57 · 2½ years later
Withdraw 3.5% a yearAt 57 · 2 years later

Spending less helps twice: you invest more now, and you need a smaller pot later.

Assumptions in this estimate
  • Everything is in today’s money: your pay, spending and investments keep pace with 2.5% inflation, so 7% growth is 4.4% a year after inflation. Real returns go up and down; a bad first few years of retirement matters most.
  • Your FIRE number is what you’d spend in a year of retirement divided by the withdrawal rate: at 4%, 25 times your spending. The 4% rule comes from US studies of 30-year retirements; for a longer early retirement, many people use 3% to 3.5%.
  • What you don’t spend is invested each month. Taxes on investment growth and withdrawals aren’t included.
  • The State Pension isn’t included. It would cover some of your spending later in life, so you may need less.
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How the calculator works

  1. Your savings rate: what you don’t spend from your take-home pay is invested each month. Include your pension contributions in your pay, since they’re money you save.
  2. Your FIRE number: your yearly spending in retirement divided by the withdrawal rate (4% means 25 times your spending).
  3. Growth: your investments grow at the rate you choose. Everything is in today’s money, so your pay and spending keep pace with inflation.

Your savings rate sets the timeline

From a standing start, with 7% growth, 2.5% inflation and a 4% withdrawal rate:

You invest Years to FIRE
10% 55
20% 39
30% 29
40% 22
50% 17
60% 13
70% 9

Your income doesn’t move these numbers. The share of it you invest does.

Example

At 30, with €30,000 invested, €45,000 of take-home pay and €30,000 of spending a year, you invest 33% of your pay. Your FIRE number is €750,000 and you could retire at 54. Spend 10% less, and you could retire at 50.

You’d reach Coast FIRE at about 42: after that, your investments could grow to your FIRE number by 65 without adding any more.

Bridge years: money outside pensions

Pensions get tax relief at your highest rate on the way in, but they normally can’t pay out until 60. Retire at 54 and you’d have about 5 years, €155,000 of spending, to cover from other savings:

  • Investment funds and ETFs can be sold at any time, but they have their own tax rules in Ireland, including tax every eight years under deemed disposal.
  • Shares held directly are taxed under capital gains tax, with a yearly exemption.
  • Savings accounts suit the last year or two of the bridge, when you don’t want the money to fall in value.

See what your pension alone could grow to with our pension calculator, or plan your spending with the budget calculator.

Last updated

Frequently asked questions

What is FIRE?

FIRE stands for financial independence, retire early. You invest a large part of your pay until your investments can cover your spending, so you no longer need to work. How fast you get there depends on your savings rate.

How much do I need to retire early in Ireland?

A common rule is 25 times your yearly spending, which allows for withdrawing 4% a year. Spending €30,000 a year, that’s €750,000. For a retirement that could last 40 years or more, many people use 3.5%, which needs about €857,000.

What is Coast FIRE?

Coast FIRE is when your pension and investments could grow to your FIRE number by a normal retirement age without adding anything more. You still work, but only to cover what you spend.

When can I take money from my pension?

PRSAs and personal pensions normally pay out from 60. Some can pay out from 50 if you retire from a job. You can usually take 25% as a lump sum, tax-free up to €200,000 in your lifetime; the rest is taxed as income.

Should I count the State Pension?

This calculator doesn’t include it. The State Pension (Contributory) starts at 66 and depends on your PRSI record. It would cover part of your spending later in life, so you may need a smaller pot.