FINANCIAL INDEPENDENCE,
RETIRE EARLY (FIRE) ESTIMATOR
For anyone new to Excel, go to File › New › Welcome to Excel. This template will help you learn foundational concepts of
Excel.
In the "Learn more" sheet, you can play with Excel features or choose a related template - including a standard retirement
estimator - to make more spreadsheets.
This simple pre-retirement calculator can assist you with goal setting and lifestyle adjustments to support your early retirement
dream. Like any simple tool, it can't replace professional financial advice customized to your personal situation, so use as a tool
in your toolbox. There is no guaranteed outcome as market events can impact your results, and there is risk associated with any
investment. Please note this estimator is for US residents.
To get started, read the instructions for each worksheet below, then, go to the "Inputs" tab to enter your values.
"Monthly expenses input" worksheet instructions
1. Fill in your monthly expenses for each category like housing, food, transportation, etc.
2. To add more rows, select the row immediately below > right click > select Insert row.
Example: to add a row above "Water and sewer" in "Housing" table, select row 10> right click > insert row. This creates a blank
row between "Gas" and "Water and "Sewer."
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"Portfolio asset mix input" worksheet instructions
1. Fill in the portfolio asset mix table for your investment portfolio.
Example: if you have investments of $100k, of which $10k cash, $50k stocks, and $40k bonds, you can fill in 10% cash, 50%
stock, 40% bond.
2. To add more rows, select the row immediately below it > right click > insert row.
Example: to add a row above "Stocks" in "Portfolio Asset Mix" table, select row 9 (Stocks) > right click > insert row. This
creates a blank row between "Cash" and "Stocks".
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INPUTS
CURRENT AMOUNT AT RETIREMENT AMOUNT
Current age 35 Target retirement age 59
Household annual income from work $50,000 Withdrawal rate in retirement 3.3%
Household annual expenses, including taxes $37,000 Retirement expenses ratio 80%
OPTIONAL
Household annual savings $18,000 INPUTS
Other income in retirement
Annual savings growth rate 0.5% $0
Current investment portfolio $100,000 Cash from downsizing my home $0
Overall portfolio growth rate 3.3% Increased annual medical expenses $0
Sensitivity: portfolio grows higher/lower than
0%
expected
RESULTS
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You are on track to achieve your target;
Estimated retirement age 59 Well done, keep updating this plan 0 years
AT RETIREMENT AMOUNT AT RETIREMENT AMOUNT
Annual household expenses your portfolio
Target portfolio value needed to hit your goal $896,970 $29,600
will support
Additional portfolio value needed to hit your Difference between target & minimum
$796,970 0
goal retirement ages (years)
ESTIMATED PORTFOLIO - NOW UNTIL RE-
TIREMENT
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$-
35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59
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$400,000
$300,000
$200,000
$100,000
$-
35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59
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FILL IN MONTHLY EXPENSES
MONTHLY EXPENSES $2,238.00
Housing Cost
Mortgage or rent $1,000.00
Phone $90.00
Electricity $56.00
Gas $28.00
Water and sewer $20.00
Cable $34.00
Waste removal $10.00
Maintenance or repairs $0.00
Supplies $0.00
House insurance $0.00
Other $0.00
Housing Subtotal $1,238.00
Food Cost
Groceries $1,000.00
Dining out $0.00
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Other $0.00
Food Subtotal $1,000.00
Public transportation/rideshare Cost
Vehicle payment $0.00
Bus/taxi fare $0.00
Insurance $0.00
Licensing $0.00
Fuel $0.00
Maintenance $0.00
Other $0.00
Transportation Subtotal $0.00
Loans Cost
Personal $0.00
Student $0.00
Credit card $0.00
Credit card $0.00
Credit card $0.00
Other $0.00
Loan Subtotal $0.00
Taxes Cost
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Federal $0.00
State $0.00
Local $0.00
Other $0.00
Taxes Subtotal $0.00
Miscellaneous Cost
Kids' school fees $0.00
Kids' college 529 expenses $0.00
Legal or attorney fees $0.00
Alimony $0.00
Child support $0.00
Charitable gifts $0.00
Entertainment (e.g., movies, concerts) $0.00
Personal care (e.g., spa) $0.00
Gym and fitness fees $0.00
Pet food and pet care costs $0.00
Other $0.00
Miscellaneous subtotal $0.00
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FILL IN YOUR PORTFOLIO ASSET
Note: Excel calculates an overall
Cumulative adjusted
annual growth rate based on your
growth rate, adjusted 3.3% portfolio asset mix and assumptions
for inflation
behind their growth.
Portfolio asset mix Percentages Notes
Cash 10%
Stocks 50%
Bonds 40%
Total asset mix 100%
Assumptions CAGR real return Notes
Cash 0.10%
Stocks 5%
Bonds 2%
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LEARN HOW TO
1. Create tables to organize data.
2. Create charts to visualize trends.
3. Highlight data based on conditions (conditional formatting)
To begin, we will unhide a few worksheets: right click on the "Learn More" sheet tab › Unhide.
Select "Learn Tables", "Learn Charts", and "Learn Conditional Formatting" then click "OK".
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