What is the Time to Financial Independence Calculator?
The Time to Financial Independence Calculator helps you calculate how many years until you reach financial independence (FI). Financial Independence means your savings can support your annual expenses using a safe withdrawal rate, allowing you to stop working if you choose. The calculator shows your FI number, years to FI, progress milestones, and year-by-year projections.
How the Calculator Works?
Enter your current age, current savings, annual savings, and annual expenses. Set your safe withdrawal rate (typically 3-4%) and investment assumptions. The calculator determines your FI number (target savings needed) and projects forward year-by-year until you reach FI, showing progress milestones at 25%, 50%, 75%, and 100% of your FI number.
The calculator uses compound growth to project your savings forward, accounting for investment returns and fees. It shows when you’ll reach FI and tracks your progress through key milestones.
Step One: Enter Your Profile
Enter your current age, current savings, annual savings, and annual expenses. These determine your FI number and projection timeline.
Step Two: Set Assumptions
Set your safe withdrawal rate (typically 3-4%) and investment assumptions (return and fees). These affect how much you need to save and how long it takes to reach FI.
Step Three: Review Your FI Timeline
See your FI number, years to FI, FI age, current progress, milestones, and year-by-year projection. The calculator shows when you’ll reach financial independence.
Disclaimer: This calculator provides illustrative calculations only and does not constitute financial or tax advice. FI calculations are estimates based on simplified assumptions. Investment returns are not guaranteed. Safe withdrawal rates are estimates and may vary. Always consult a qualified financial advisor for retirement planning.
What does retirement mean to you?
Traditional retirement is broken. Understand how our calculator enables you to live a better life now vs later.
Retire from corporate work?
Use the tool to utilise how you can step away from the corporate world and live life on your own terms.
Work less, live more
See how part-time or project-based work can bridge your income gap while giving you more time for life.
Freedom through planning
Understand how your savings, spending and investments can work together to buy back your time.
Test-drive retirement early
Model scenarios that let you experience elements of retirement before fully stepping away.
What is the Time to Financial Independence Calculator?
Common questions about the Time to Financial Independence Calculator, how it works, and what it calculates.
What is Financial Independence (FI)?
Financial Independence means your savings can support your annual expenses using a safe withdrawal rate, allowing you to stop working if you choose. Your FI number = Annual Expenses / Safe Withdrawal Rate.
What is a safe withdrawal rate?
A safe withdrawal rate is the percentage you can safely withdraw from your savings each year without running out of money. Typical range: 3-4%. The 4% rule is a common guideline, but actual rates depend on investment returns, fees, and longevity.
How is the FI number calculated?
FI Number = Annual Expenses / Safe Withdrawal Rate. For example, if you need £30,000 per year and use a 4% withdrawal rate, your FI number is £750,000.
What are milestones?
Milestones show your progress toward FI: 25%, 50%, 75%, and 100% of your FI number. The calculator shows when you’ll reach each milestone based on your savings and returns.
How does annual savings affect FI?
Higher annual savings accelerate your path to FI. The calculator projects your savings forward year-by-year, showing how increased savings can reduce years to FI.
What about investment returns?
Higher investment returns also accelerate your path to FI. The calculator uses compound growth to project your savings, accounting for returns and fees.
Does it account for tax?
The calculator focuses on gross savings and expenses. Tax implications depend on your specific situation (ISAs are tax-free, pensions have tax relief, etc.). Consider tax when planning your savings strategy.
What if I can’t reach FI?
If your savings and returns aren’t sufficient to reach FI, consider: increasing savings, improving returns, reducing expenses, or extending your timeline. The calculator helps you understand what’s needed.
Can I see year-by-year projections?
Yes. The calculator shows year-by-year projections up to FI, showing your balance and progress percentage each year.
Can I export the results?
Yes. Click the “Download CSV Export” button at the bottom to export your FI timeline to CSV format.