Top 5 Financial Independence Calculators

Since we started our Journey to Financial Independence in 2019, we found a lot of information available; however, nothing in just one place that you can use as a reference and share with others. That’s why we created this post that lists the Top 5 Financial Independence Calculators anyone can use.

Financial Independence is the ability to live your desired lifestyle without working. You know, this is what we have been doing since 2019, and in 2024, we will become Financially Independent. It’s a goal that many people strive for, and several financial independence calculators are available to help you plan your journey.

Using a Financial Independence Calculator is relatively straightforward. Most calculators will ask you to input your current income and expenses, your desired retirement lifestyle, and your investment returns. Once you’ve inputted this information, the calculator will estimate how much money you need to save to reach financial independence.

Here are the top 5 financial independence calculators that anyone can use (in no particular order):


FireCalc is a popular financial independence calculator that allows you to run detailed simulations of your retirement savings. It considers various factors, including your current income and expenses, your desired retirement lifestyle, and investment returns.

FireCalc is a great tool for getting a realistic idea of how much money you need to save to reach financial independence. It’s also helpful for testing different strategies and seeing how they impact your results.

Personal Capital Empower

Personal Capital (now called Empower) offers a comprehensive financial planning tool with a variety of features, including a financial independence calculator. The calculator is straightforward to use and allows you to estimate how much money you need to save to retire early.

Empower also offers many other features that can help you reach financial independence, such as a budget tracker, investment analyzer, and net worth calculator.


Like FireCalc, cFIREsim is a retirement calculator that uses historical market data to simulate different retirement scenarios. Users can input various parameters to model their retirement plans.

FIRE Age Calculator

This calculator is a simple online tool that estimates the time it will take to achieve financial independence and retire early based on factors like savings rate, investment returns, and spending.


FI Calc is a calculator that evaluates retirement plans using historical data. To get started, change the Retirement Plan to see how it affects the Results.

Before using any calculator, it’s crucial to understand their assumptions and limitations. Remember that it all starts with a monthly budget to help figure out how much you will need.

We offer a free Budget spreadsheet that you can download for free. It is the same spreadsheet we’ve been using since 2019.

Please consult a financial advisor for personalized advice based on your financial situation and goals. Always use the most up-to-date tools and information available.