FIRE Calculator - Early Retirement Planner

Age at the End of the Year:

Yrs

Desired Retirement Age:

Yrs

Life Expectancy:

Yrs

Currency:

€

Estimated Inflation:

Annual or monthly amounts:

Income

Define your current net salary (after taxes) as well as the pension you expect to receive and at what age.

Paola now fills in all the income they have and expect to have:

Paola's salary is €2,350 net per month, so she multiplies that amount by 12 payments and adds about €2,000 that she usually receives as a bonus. In the variation column, Paola estimates that her salary will increase by 0.5% each year.
In the case of her husband's salary, who has extra pay in December, she multiplies her salary of €2,430 by 13 payments. She also estimates an annual growth of 0.5%.
For the flat in Italy they have rented, they receive €700 per month. So Paola multiplies that amount by 12 and subtracts the agency fees, community, maintenance and taxes. She calculates that the rent will go up at a rate of 1% per year.
Once Paola turns 50 and they go to Italy, they plan to rent her apartment in Germany. They estimate that the current rent for her apartment would be around €11,000 per year (discounting agency, community, maintenance and taxes), and that it will also rise by 1% per year.
Once they stop working, they won't need two cars, so they expect to have a punctual income of around €8,000 by the age of 50 from the sale of their car.
Calculating how much they will receive as a pension working up to the age of 50 Paola and up to the age of 53 Matteo is not easy. To do this, they make a conservative estimate, with an amount on the low side and with an annual increase in pensions of only 1%.
Please note that although both will receive their pension at age 67, "Matteo Pension" line shows start at age 64 since Matteo is 3 years older than Paola.

Current Income After Taxes (annual):

€

Estimated Pension (annual):

€

Estim. Pension Age:

Yrs

Advance options

€

Add recurring income

One-time income

€

Add one-time income

Expenses

Define your current expenses as well as the expenses you expect to have once you retire and stop working.

Now comes the turn of expenses:

Your current expenses are on average about €1,900 per month, which you multiply by 12 months. On top of that, add the expenses you pay once a year, such as home and car insurance.
They still have 7 more years of mortgage on their flat in Germany, for which they pay a fixed €13,250.
Once they go to Italy, they plan to have a one-time down payment of €180,000 for their house.
And later they will have a 20-year mortgage of around €12,000.
Your estimate of living expenses in Italy you think will be lower than your current expenses in Germany, so they add some living expenses of 22,000€.

Current Expenses (annual):

€

Estimated Retirement Expenses (annual):

€

Advance options

€

Add recurring expense

One-time expense

€

Add one-time expenses

Your Current Savings:

€

Your Investments:

€

Expected Return %:

Taxes Withdrawing:

Advance options

Savings that do not bear interest (current account, cash etc.) :

€

Add investment

The years you can contribute capital, distribute it like this:

to Savings that do not bear interest

to Interest-bearing account

The years you need to withdraw capital, withdraw it in this order:

Savings
Interest-bearing account

FIRE Calculator - Early Retirement Planner

Increase

One-time income

Increase

Inflation

One-time expense

Inflation

Return

Percentage

Starting year of the reference index

Taxes

The years you can contribute capital, distribute it like this:

The years you need to withdraw capital, withdraw it in this order:

Increase

One-time income

Increase

Inflation

One-time expense

Inflation

Return

Percentage

Starting year of the reference index

Taxes

The years you can contribute capital, distribute it like this:

The years you need to withdraw capital, withdraw it in this order:

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