FIRE Calculator

Your number.
Your timeline.

FIRE (Financial Independence, Retire Early) starts with one number: the portfolio size that can fund your life forever. This calculator shows you that number, how long it takes, and when you can coast the rest of the way.

Your knowledge level
1
Your details
Your age today
When you want to stop working
Used for tax context and tips
Filing as single. No spousal credits applied.
Partner details
2
Current investments
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Total in TFSA, RRSP, non-registered investments. Not cash savings.
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How much you invest each month across all accounts
Your accounts
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$
$
Partner's accounts
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$
$
Monthly contributions
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⚠ Exceeds $583/mo ($7,000/yr) — confirm you have unused room
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$
Partner's monthly contributions
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$
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Total invested: $0 Total monthly: $0/mo
3
Retirement spending — entered as your after-tax annual need
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How much you plan to spend per year in retirement, in today's dollars. Include everything: housing, food, travel, healthcare.
After-tax annual spending need. We gross this up by your province's tax rate to find the pre-tax amount your portfolio must support each year.
4
Government & pension income CPP, OAS, and DB pension reduce how much your portfolio must generate each year. If you retire before these kick in, there's a "gap" period where your portfolio covers 100% of expenses. We model this gap automatically — it's one of the biggest drivers of your true FIRE number.
CPP — Canada Pension Plan CPP is based on your contribution history. Average payout at 65 is ~$9,300/year (2026); maximum is $17,400. Take it at 60 for a 36% reduction, or at 70 for a 42% enhancement. Check My Service Canada Account for your personal estimate — the difference from the default can be significant.
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Check My Service Canada for your estimate
Partner CPP
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OAS — Old Age Security OAS is a flat government payment of ~$8,500/year (2026) at age 65. It's clawed back at 15¢ per dollar above ~$90,997 of net income — so high RRSP/RRIF withdrawals can reduce or eliminate it. TFSA withdrawals don't count toward this threshold, which is why TFSA-first withdrawal sequencing matters.
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Partner OAS
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DB Pension — optional A defined benefit pension pays a fixed annual amount in retirement, usually indexed to inflation. Common for teachers, nurses, government, and other public sector workers. This directly reduces how much your portfolio must generate — ignoring it can dramatically overstate your FIRE number.
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Partner DB pension
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One-time large expense — optional A planned large outflow in a specific retirement year — e.g. helping a child with a down payment, a major renovation, or a sabbatical trip. Enter in today's dollars. We inflate it to future dollars and reduce your portfolio in that year of the withdrawal table.
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e.g. 5 = five years after you retire
Assumptions
Intermediate
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Your FIRE Summary
Monthly contribution
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Invested each month
Current savings
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Already working for you
Annual spending target
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What your portfolio funds
Progress to FIRE
0%
$0 —

Coast FIRE

Coast FIRE number
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Coast FIRE age
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Tax gross-up calculation

After-tax spending target
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What you want to actually spend
Estimated gross withdrawal needed
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Pre-tax amount portfolio must support
Effective tax rate (retirement income)
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Based on your province
Adjusted FIRE number
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Gross withdrawal ÷ withdrawal rate

Portfolio projection

Portfolio value
FIRE target

Cost of waiting

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Cost of waiting: drag to explore

Slide to see how delaying your start date changes your FIRE timeline and total wealth.
Delay start by
1 year
FIRE date shifts to
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Extra years working
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Lost portfolio value at FIRE
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Canadian context

🍁
CPP and OAS reduce how much you need
CPP pays up to roughly $9,300/year at age 65, and OAS adds about $8,500/year. If you retire at 65+, these reduce how much your portfolio needs to generate. If you retire early, factor in that CPP and OAS won't arrive for decades.
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TFSA is your most powerful FIRE account
Withdrawals from a Tax-Free Savings Account don't count as income, so they don't affect CPP, OAS, or benefit clawbacks. Maximizing your TFSA first means your early retirement withdrawals are completely tax-free. 2026 limit: $7,000/year.
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The 4% rule is a starting point
Your FIRE number is based on the 4% safe withdrawal rate. Research suggests a portfolio can sustain a 4% annual withdrawal indefinitely. In practice, many early retirees use 3–3.5% for longer timelines (40+ years) as a buffer.
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Provincial tax in retirement
Your province affects how much of each withdrawal you keep. Structuring withdrawals across TFSA, RRSP, and non-registered accounts can meaningfully reduce your tax bill in retirement.
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Coast FIRE is a powerful halfway point
Once you hit your Coast FIRE number, your portfolio will grow to your FIRE target on its own. You don't need to save another dollar. You can coast: cover expenses with any job you enjoy, without the pressure of saving aggressively.
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Sequence of returns risk
The biggest FIRE threat isn't a bad average return. The risk is a crash in your first few years of retirement. A 30–40% drop early on, combined with withdrawals, can permanently damage your portfolio. Keep 1–2 years of expenses in cash or a HISA as a buffer.
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Build the foundation first
FIRE works best when the basics are locked in. Make sure you have a solid emergency fund before investing aggressively — use the Emergency Fund Calculator to find your number. Then use the Budget Calculator to find what you can invest each month toward FIRE.
Start building your FIRE portfolio
The right accounts matter.
Low fees, broad index funds, and the right account structure are the unsexy foundation of every successful FIRE plan.
Investing
Wealthsimple
Commission-free stock and ETF trading. TFSA, RRSP, and FHSA accounts. Simple enough to get started today.
Open an account
Self-directed
Questrade
Buy ETFs commission-free. Lower fees than the big banks. Popular with Canadian FIRE investors.
Open an account
High-interest savings
EQ Bank
Park your 1–2 year cash buffer here. Competitive HISA rate, no fees, CDIC insured.
Open an account
Try our other tools
Budget tool
Zero-Based Budget Calculator
Give every dollar a job. Build a complete monthly budget and see how much you can realistically invest toward FIRE each month.
Explore →
Calculator
Emergency Fund Calculator
A solid emergency fund is the foundation before you chase FIRE. Find your exact target based on your expenses and job stability.
Explore →
Decision tool
TFSA vs RRSP: Which First?
The account you invest in matters for FIRE. TFSA withdrawals are tax-free and don't affect OAS. RRSP shelters income now. Get a clear recommendation.
Explore →

How your FIRE number is calculated

01 / The target

Your FIRE number is your spending divided by your withdrawal rate

If you want to spend $60,000/year and use a 4% withdrawal rate, your FIRE number is $1,500,000. That portfolio, invested at historical returns, should sustain indefinite withdrawals. Canadians with CPP and OAS need less — those income streams reduce what the portfolio must cover.

02 / Coast FIRE

The crossover point where compounding does the work for you

Coast FIRE is the portfolio value at which, if you stopped contributing today, compound growth alone would carry you to your full FIRE number by retirement age. Once you hit it, new contributions become optional — you just need to cover expenses without drawing down investments.

03 / The tax layer

Your portfolio must support your after-tax spending, not your gross income

In Canada, RRSP and RRIF withdrawals are fully taxable income. This tool grosses up your spending target to account for the tax owing on withdrawals, then derives a larger FIRE number accordingly. TFSA withdrawals are tax-free and don't affect OAS clawback or GIS eligibility.

04 / The sequence risk

When you retire matters as much as how much you have

A major market crash in your first few retirement years — combined with ongoing withdrawals — can permanently damage a portfolio even if long-run returns are fine. This is sequence-of-returns risk. It's why many Canadian FIRE planners use a 3–3.5% withdrawal rate for retirements exceeding 30 years, and keep a cash buffer of 1–2 years of expenses in a HISA.

* All calculations are estimates for educational purposes only. FIRE projections assume a constant nominal return and do not account for inflation, market volatility, or sequence-of-returns risk. The 4% safe withdrawal rate is a guideline based on historical US market data and may not hold for all time periods or portfolio compositions. Tax gross-up calculations (intermediate mode) use 2026 federal and provincial tax brackets and assume retirement income consists entirely of portfolio withdrawals. Actual tax owing will vary based on income type, credits, and individual circumstances. CPP and OAS figures are approximate and subject to change. This tool does not constitute financial advice. Consult a registered financial advisor (CFP) before making significant financial decisions.