Financial independence, retire early (FIRE) means having enough income from your investments to cover your spending, so work becomes optional. Most FIRE calculators assume a stock portfolio and the 4% rule. This one shows the path through rental real estate: you save, buy properties, and let their cash flow grow until it covers what you spend.
Enter your income, savings and assumptions below to see how many years it could take. Then use the coast, barista and fat FIRE calculators further down to test the version of FIRE you're aiming for.
FIRE calculator
Start with your own numbers. Every input has a sensible starting value, so change the ones you know and leave the rest.
Your results
- Annual cash flow
- Spending target
Your numbers
Your income
Savings and retirement
Portfolio assumptions
Year-by-year projection
Each year, the model adds your new savings and after-tax cash flow, buys as many properties as your cash covers, and compares cash flow to your inflation-adjusted spending target.
| Year | Income | Properties | Real estate value | Equity | Cash flow | Target | Goal met |
|---|---|---|---|---|---|---|---|
| 1 | $100,000 | 0 | $0 | $0 | $0 | $80,000 | No |
| 2 | $104,000 | 0 | $0 | $0 | $0 | $82,400 | No |
| 3 | $108,160 | 1 | $321,368 | $69,415 | $5,553 | $84,872 | No |
| 4 | $112,486 | 1 | $332,615 | $76,987 | $6,159 | $87,418 | No |
| 5 | $116,986 | 2 | $688,514 | $159,183 | $12,735 | $90,041 | No |
| 6 | $121,665 | 2 | $712,612 | $175,404 | $14,032 | $92,742 | No |
| 7 | $126,532 | 3 | $1,106,330 | $271,849 | $21,748 | $95,524 | No |
| 8 | $131,593 | 3 | $1,145,051 | $297,914 | $23,833 | $98,390 | No |
| 9 | $136,857 | 4 | $1,580,171 | $410,221 | $32,818 | $101,342 | No |
| 10 | $142,331 | 5 | $2,044,346 | $535,765 | $42,861 | $104,382 | No |
| 11 | $148,024 | 6 | $2,539,078 | $675,337 | $54,027 | $107,513 | No |
| 12 | $153,945 | 7 | $3,065,936 | $829,764 | $66,381 | $110,739 | No |
| 13 | $160,103 | 8 | $3,626,565 | $999,914 | $79,993 | $114,061 | No |
| 14 | $166,507 | 9 | $4,222,681 | $1,186,701 | $94,936 | $117,483 | No |
| 15 | $173,168 | 10 | $4,856,084 | $1,391,078 | $111,286 | $121,007 | No |
| 16 | $180,094 | 11 | $5,528,651 | $1,614,050 | $129,124 | $124,637 | Yes |
| 17 | $187,298 | 13 | $6,762,546 | $1,969,030 | $157,522 | $128,377 | Yes |
| 18 | $194,790 | 14 | $7,537,637 | $2,244,650 | $179,572 | $132,228 | Yes |
| 19 | $202,582 | 16 | $8,915,948 | $2,662,968 | $213,037 | $136,195 | Yes |
| 20 | $210,685 | 18 | $10,381,507 | $3,122,184 | $249,775 | $140,280 | Yes |
| 21 | $219,112 | 20 | $11,938,733 | $3,624,649 | $289,972 | $144,489 | Yes |
| 22 | $227,877 | 22 | $13,592,248 | $4,172,827 | $333,826 | $148,824 | Yes |
| 23 | $236,992 | 25 | $15,986,337 | $4,907,427 | $392,594 | $153,288 | Yes |
| 24 | $246,472 | 28 | $18,531,362 | $5,712,933 | $457,035 | $157,887 | Yes |
| 25 | $256,330 | 31 | $21,234,955 | $6,593,411 | $527,473 | $162,624 | Yes |
| 26 | $266,584 | 34 | $24,105,099 | $7,553,122 | $604,250 | $167,502 | Yes |
| 27 | $277,247 | 38 | $27,883,928 | $8,755,030 | $700,402 | $172,527 | Yes |
| 28 | $288,337 | 42 | $31,897,746 | $10,068,158 | $805,453 | $177,703 | Yes |
| 29 | $299,870 | 46 | $36,158,373 | $11,498,817 | $919,905 | $183,034 | Yes |
| 30 | $311,865 | 51 | $41,491,733 | $13,229,357 | $1,058,349 | $188,525 | Yes |
How the calculator works
- You save. Each year you save a share of your pre-tax income, which grows at your income growth rate. You start with your initial savings.
- You buy. When savings cover a down payment plus closing costs and reserves on an average property, you buy as many as you can afford. Property prices rise with appreciation.
- Your equity grows. Equity grows through appreciation and loan paydown (amortization) on the debt you’ve taken on.
- Cash flow compounds. Your portfolio earns your average return on equity as cash flow. After tax, the reinvestment rate decides how much goes back into buying more property.
- You reach your number. Your target is your retirement spending as a share of today’s income, raised by inflation each year. The first year cash flow meets it is your result.
This is a simplified model meant for planning, not a guarantee. Real returns, prices, taxes, and rates will differ.
How to find your FIRE number
Your FIRE number is the income your investments need to produce for you to stop depending on a paycheck. Most people start from what they spend today, not what they earn: if you spend $80,000 a year, that's your target, and it rises with inflation every year you're still working.
With stocks, the usual rule of thumb is 25 times your annual spending, the amount the 4% rule says you can draw from each year. With rentals, the target is cash flow instead. That's why the calculator sets your target as a share of today's income (Retirement spending), raises it by Inflation each year, and tells you the first year your rental cash flow meets it.
What moves your result most
- Savings rate. Every dollar you save buys property sooner, and that property's cash flow buys the next one.
- Return on equity. The cash flow your portfolio earns on the equity in it. Better deals, or moving equity out of properties that earn little, raise it.
- Retirement spending. Spending less in retirement lowers the target you're chasing, which can take years off the result.
Coast FIRE
Coast FIRE is the point where you've invested enough that you could stop saving altogether and your investments would still grow into your FIRE number on their own. You keep working, but only to cover today's spending, which frees you to take a lower-paying job you'd enjoy more, work fewer hours, or put your savings toward something else.
With rentals, coasting means the properties you already own, and the cash flow you reinvest from them, carry you to your target without new savings. The calculator below starts with your Savings rate at 0%. Put what you have invested today in Initial savings and see whether, and when, cash flow still reaches your target. If it never does, raise your initial savings until it does: that's your coast FIRE number.
Coast FIRE calculator
Savings rate starts at 0%: nothing new goes in, and only reinvested cash flow keeps buying property.
Your results
- Annual cash flow
- Spending target
Your numbers
Your income
Savings and retirement
Portfolio assumptions
Year-by-year projection
Each year, the model adds your new savings and after-tax cash flow, buys as many properties as your cash covers, and compares cash flow to your inflation-adjusted spending target.
| Year | Income | Properties | Real estate value | Equity | Cash flow | Target | Goal met |
|---|---|---|---|---|---|---|---|
| 1 | $100,000 | 3 | $900,000 | $194,400 | $15,552 | $80,000 | No |
| 2 | $104,000 | 3 | $931,500 | $215,604 | $17,248 | $82,400 | No |
| 3 | $108,160 | 3 | $964,103 | $237,550 | $19,004 | $84,872 | No |
| 4 | $112,486 | 4 | $1,330,461 | $332,109 | $26,569 | $87,418 | No |
| 5 | $116,986 | 4 | $1,377,028 | $363,455 | $29,076 | $90,041 | No |
| 6 | $121,665 | 4 | $1,425,224 | $395,898 | $31,672 | $92,742 | No |
| 7 | $126,532 | 5 | $1,843,883 | $509,132 | $40,731 | $95,524 | No |
| 8 | $131,593 | 5 | $1,908,419 | $552,574 | $44,206 | $98,390 | No |
| 9 | $136,857 | 5 | $1,975,214 | $597,536 | $47,803 | $101,342 | No |
| 10 | $142,331 | 6 | $2,453,215 | $732,388 | $58,591 | $104,382 | No |
| 11 | $148,024 | 6 | $2,539,078 | $790,186 | $63,215 | $107,513 | No |
| 12 | $153,945 | 7 | $3,065,936 | $944,612 | $75,569 | $110,739 | No |
| 13 | $160,103 | 8 | $3,626,565 | $1,114,763 | $89,181 | $114,061 | No |
| 14 | $166,507 | 8 | $3,753,495 | $1,200,205 | $96,016 | $117,483 | No |
| 15 | $173,168 | 9 | $4,370,475 | $1,393,529 | $111,482 | $121,007 | No |
| 16 | $180,094 | 10 | $5,026,046 | $1,605,060 | $128,405 | $124,637 | Yes |
| 17 | $187,298 | 11 | $5,722,154 | $1,835,836 | $146,867 | $128,377 | Yes |
| 18 | $194,790 | 12 | $6,460,832 | $2,086,944 | $166,956 | $132,228 | Yes |
| 19 | $202,582 | 13 | $7,244,208 | $2,359,527 | $188,762 | $136,195 | Yes |
| 20 | $210,685 | 14 | $8,074,506 | $2,654,779 | $212,382 | $140,280 | Yes |
| 21 | $219,112 | 16 | $9,550,987 | $3,102,891 | $248,231 | $144,489 | Yes |
| 22 | $227,877 | 17 | $10,503,101 | $3,461,363 | $276,909 | $148,824 | Yes |
| 23 | $236,992 | 19 | $12,149,616 | $3,985,060 | $318,805 | $153,288 | Yes |
| 24 | $246,472 | 21 | $13,898,521 | $4,557,217 | $364,577 | $157,887 | Yes |
| 25 | $256,330 | 23 | $15,754,967 | $5,180,586 | $414,447 | $162,624 | Yes |
| 26 | $266,584 | 25 | $17,724,337 | $5,858,049 | $468,644 | $167,502 | Yes |
| 27 | $277,247 | 28 | $20,546,052 | $6,751,129 | $540,090 | $172,527 | Yes |
| 28 | $288,337 | 30 | $22,784,104 | $7,563,285 | $605,063 | $177,703 | Yes |
| 29 | $299,870 | 33 | $25,939,702 | $8,609,440 | $688,755 | $183,034 | Yes |
| 30 | $311,865 | 37 | $30,101,846 | $9,923,498 | $793,880 | $188,525 | Yes |
How the calculator works
- You save. Each year you save a share of your pre-tax income, which grows at your income growth rate. You start with your initial savings.
- You buy. When savings cover a down payment plus closing costs and reserves on an average property, you buy as many as you can afford. Property prices rise with appreciation.
- Your equity grows. Equity grows through appreciation and loan paydown (amortization) on the debt you’ve taken on.
- Cash flow compounds. Your portfolio earns your average return on equity as cash flow. After tax, the reinvestment rate decides how much goes back into buying more property.
- You reach your number. Your target is your retirement spending as a share of today’s income, raised by inflation each year. The first year cash flow meets it is your result.
This is a simplified model meant for planning, not a guarantee. Real returns, prices, taxes, and rates will differ.
Barista FIRE
Barista FIRE is leaving full-time work once your investments cover part of your spending, and earning the rest from part-time or flexible work you'd do anyway. The name comes from the idea of taking a part-time job at a coffee shop for the paycheck and the health insurance, but it can be consulting, seasonal work, or managing your own rentals.
Because your portfolio only has to cover part of your spending, you get there years sooner. In the calculator below, set Retirement spending to the share of today's income your investments will need to cover, after what you expect to earn. It starts at 40%.
Barista FIRE calculator
Retirement spending starts at 40% of today's income: the part your rentals cover, with part-time work paying for the rest.
Your results
- Annual cash flow
- Spending target
Your numbers
Your income
Savings and retirement
Portfolio assumptions
Year-by-year projection
Each year, the model adds your new savings and after-tax cash flow, buys as many properties as your cash covers, and compares cash flow to your inflation-adjusted spending target.
| Year | Income | Properties | Real estate value | Equity | Cash flow | Target | Goal met |
|---|---|---|---|---|---|---|---|
| 1 | $100,000 | 0 | $0 | $0 | $0 | $40,000 | No |
| 2 | $104,000 | 0 | $0 | $0 | $0 | $41,200 | No |
| 3 | $108,160 | 1 | $321,368 | $69,415 | $5,553 | $42,436 | No |
| 4 | $112,486 | 1 | $332,615 | $76,987 | $6,159 | $43,709 | No |
| 5 | $116,986 | 2 | $688,514 | $159,183 | $12,735 | $45,020 | No |
| 6 | $121,665 | 2 | $712,612 | $175,404 | $14,032 | $46,371 | No |
| 7 | $126,532 | 3 | $1,106,330 | $271,849 | $21,748 | $47,762 | No |
| 8 | $131,593 | 3 | $1,145,051 | $297,914 | $23,833 | $49,195 | No |
| 9 | $136,857 | 4 | $1,580,171 | $410,221 | $32,818 | $50,671 | No |
| 10 | $142,331 | 5 | $2,044,346 | $535,765 | $42,861 | $52,191 | No |
| 11 | $148,024 | 6 | $2,539,078 | $675,337 | $54,027 | $53,757 | Yes |
| 12 | $153,945 | 7 | $3,065,936 | $829,764 | $66,381 | $55,369 | Yes |
| 13 | $160,103 | 8 | $3,626,565 | $999,914 | $79,993 | $57,030 | Yes |
| 14 | $166,507 | 9 | $4,222,681 | $1,186,701 | $94,936 | $58,741 | Yes |
| 15 | $173,168 | 10 | $4,856,084 | $1,391,078 | $111,286 | $60,504 | Yes |
| 16 | $180,094 | 11 | $5,528,651 | $1,614,050 | $129,124 | $62,319 | Yes |
| 17 | $187,298 | 13 | $6,762,546 | $1,969,030 | $157,522 | $64,188 | Yes |
| 18 | $194,790 | 14 | $7,537,637 | $2,244,650 | $179,572 | $66,114 | Yes |
| 19 | $202,582 | 16 | $8,915,948 | $2,662,968 | $213,037 | $68,097 | Yes |
| 20 | $210,685 | 18 | $10,381,507 | $3,122,184 | $249,775 | $70,140 | Yes |
| 21 | $219,112 | 20 | $11,938,733 | $3,624,649 | $289,972 | $72,244 | Yes |
| 22 | $227,877 | 22 | $13,592,248 | $4,172,827 | $333,826 | $74,412 | Yes |
| 23 | $236,992 | 25 | $15,986,337 | $4,907,427 | $392,594 | $76,644 | Yes |
| 24 | $246,472 | 28 | $18,531,362 | $5,712,933 | $457,035 | $78,943 | Yes |
| 25 | $256,330 | 31 | $21,234,955 | $6,593,411 | $527,473 | $81,312 | Yes |
| 26 | $266,584 | 34 | $24,105,099 | $7,553,122 | $604,250 | $83,751 | Yes |
| 27 | $277,247 | 38 | $27,883,928 | $8,755,030 | $700,402 | $86,264 | Yes |
| 28 | $288,337 | 42 | $31,897,746 | $10,068,158 | $805,453 | $88,852 | Yes |
| 29 | $299,870 | 46 | $36,158,373 | $11,498,817 | $919,905 | $91,517 | Yes |
| 30 | $311,865 | 51 | $41,491,733 | $13,229,357 | $1,058,349 | $94,263 | Yes |
How the calculator works
- You save. Each year you save a share of your pre-tax income, which grows at your income growth rate. You start with your initial savings.
- You buy. When savings cover a down payment plus closing costs and reserves on an average property, you buy as many as you can afford. Property prices rise with appreciation.
- Your equity grows. Equity grows through appreciation and loan paydown (amortization) on the debt you’ve taken on.
- Cash flow compounds. Your portfolio earns your average return on equity as cash flow. After tax, the reinvestment rate decides how much goes back into buying more property.
- You reach your number. Your target is your retirement spending as a share of today’s income, raised by inflation each year. The first year cash flow meets it is your result.
This is a simplified model meant for planning, not a guarantee. Real returns, prices, taxes, and rates will differ.
Fat FIRE
Fat FIRE is reaching financial independence with room to spend more in retirement than you do today: more travel, a bigger home, more giving, or simply a wider margin of safety. It takes a bigger portfolio, so it usually takes longer, a higher savings rate, or better returns.
In the calculator below, Retirement spending starts at 100%, the same as you earn today. Raise it to what you'd like to spend, 150% say, and compare the result with the main calculator to see how many extra years the bigger lifestyle costs, and which inputs win them back.
Fat FIRE calculator
Set retirement spending above 100% of today's income for a retirement that spends more than you do now.
Your results
- Annual cash flow
- Spending target
Your numbers
Your income
Savings and retirement
Portfolio assumptions
Year-by-year projection
Each year, the model adds your new savings and after-tax cash flow, buys as many properties as your cash covers, and compares cash flow to your inflation-adjusted spending target.
| Year | Income | Properties | Real estate value | Equity | Cash flow | Target | Goal met |
|---|---|---|---|---|---|---|---|
| 1 | $100,000 | 0 | $0 | $0 | $0 | $100,000 | No |
| 2 | $104,000 | 0 | $0 | $0 | $0 | $103,000 | No |
| 3 | $108,160 | 1 | $321,368 | $69,415 | $5,553 | $106,090 | No |
| 4 | $112,486 | 1 | $332,615 | $76,987 | $6,159 | $109,273 | No |
| 5 | $116,986 | 2 | $688,514 | $159,183 | $12,735 | $112,551 | No |
| 6 | $121,665 | 2 | $712,612 | $175,404 | $14,032 | $115,927 | No |
| 7 | $126,532 | 3 | $1,106,330 | $271,849 | $21,748 | $119,405 | No |
| 8 | $131,593 | 3 | $1,145,051 | $297,914 | $23,833 | $122,987 | No |
| 9 | $136,857 | 4 | $1,580,171 | $410,221 | $32,818 | $126,677 | No |
| 10 | $142,331 | 5 | $2,044,346 | $535,765 | $42,861 | $130,477 | No |
| 11 | $148,024 | 6 | $2,539,078 | $675,337 | $54,027 | $134,392 | No |
| 12 | $153,945 | 7 | $3,065,936 | $829,764 | $66,381 | $138,423 | No |
| 13 | $160,103 | 8 | $3,626,565 | $999,914 | $79,993 | $142,576 | No |
| 14 | $166,507 | 9 | $4,222,681 | $1,186,701 | $94,936 | $146,853 | No |
| 15 | $173,168 | 10 | $4,856,084 | $1,391,078 | $111,286 | $151,259 | No |
| 16 | $180,094 | 11 | $5,528,651 | $1,614,050 | $129,124 | $155,797 | No |
| 17 | $187,298 | 13 | $6,762,546 | $1,969,030 | $157,522 | $160,471 | No |
| 18 | $194,790 | 14 | $7,537,637 | $2,244,650 | $179,572 | $165,285 | Yes |
| 19 | $202,582 | 16 | $8,915,948 | $2,662,968 | $213,037 | $170,243 | Yes |
| 20 | $210,685 | 18 | $10,381,507 | $3,122,184 | $249,775 | $175,351 | Yes |
| 21 | $219,112 | 20 | $11,938,733 | $3,624,649 | $289,972 | $180,611 | Yes |
| 22 | $227,877 | 22 | $13,592,248 | $4,172,827 | $333,826 | $186,029 | Yes |
| 23 | $236,992 | 25 | $15,986,337 | $4,907,427 | $392,594 | $191,610 | Yes |
| 24 | $246,472 | 28 | $18,531,362 | $5,712,933 | $457,035 | $197,359 | Yes |
| 25 | $256,330 | 31 | $21,234,955 | $6,593,411 | $527,473 | $203,279 | Yes |
| 26 | $266,584 | 34 | $24,105,099 | $7,553,122 | $604,250 | $209,378 | Yes |
| 27 | $277,247 | 38 | $27,883,928 | $8,755,030 | $700,402 | $215,659 | Yes |
| 28 | $288,337 | 42 | $31,897,746 | $10,068,158 | $805,453 | $222,129 | Yes |
| 29 | $299,870 | 46 | $36,158,373 | $11,498,817 | $919,905 | $228,793 | Yes |
| 30 | $311,865 | 51 | $41,491,733 | $13,229,357 | $1,058,349 | $235,657 | Yes |
How the calculator works
- You save. Each year you save a share of your pre-tax income, which grows at your income growth rate. You start with your initial savings.
- You buy. When savings cover a down payment plus closing costs and reserves on an average property, you buy as many as you can afford. Property prices rise with appreciation.
- Your equity grows. Equity grows through appreciation and loan paydown (amortization) on the debt you’ve taken on.
- Cash flow compounds. Your portfolio earns your average return on equity as cash flow. After tax, the reinvestment rate decides how much goes back into buying more property.
- You reach your number. Your target is your retirement spending as a share of today’s income, raised by inflation each year. The first year cash flow meets it is your result.
This is a simplified model meant for planning, not a guarantee. Real returns, prices, taxes, and rates will differ.
FIRE questions
What does FIRE stand for?
Financial independence, retire early. Financial independence is having investment income that covers your spending. Retiring early is optional: many people who reach it keep working, just on their own terms.
How is this different from other FIRE calculators?
Most FIRE calculators assume you invest in stocks and withdraw 4% a year. This one models rental real estate: your savings buy properties with a down payment, the properties build equity through appreciation and loan paydown, and their cash flow is reinvested until it covers your spending target.
What's the difference between lean, coast, barista and fat FIRE?
- Lean FIRE: financial independence on a lower budget than you live on today.
- Coast FIRE: you've invested enough to stop saving and still reach your number.
- Barista FIRE: your investments cover part of your spending and part-time work covers the rest.
- Fat FIRE: your investments cover more spending than you have today.
In the calculator, lean and fat FIRE are a lower or higher Retirement spending, coast FIRE is a Savings rate of 0%, and barista FIRE is a retirement spending that leaves out what you'll earn.
How accurate is the result?
It's a planning model, not a forecast. It assumes steady appreciation, returns and inflation, and that you can always buy at the average property price. Real markets, interest rates and taxes will differ, so treat the result as a direction and rerun it as your numbers change.
Can I keep my numbers?
Yes. Sign up free to download your results from any of the calculators on this page, or to download the full spreadsheet version of the calculator.
