“Do I have enough to retire?” is a question most people in the FIRE community grapple with, but today, we’re sharing a FREE tool that will help you put this issue to bed! If you’re concerned about running out of money later in life or developing “One More Year Syndrome,” you won’t want to miss this episode!Welcome back to the BiggerPockets Money podcast! Software engineer Lauren Boland has developed a FIRE calculator that predicts whether your nest egg will be able to support you in retirement. This powerful tool takes dozens of key data points—such as your financial independence number, retirement age, annual expenses, portfolio mix, and historical returns—to simulate multiple retirement scenarios. In this episode, Lauren, Scott, and Mindy are going to walk you through this powerful tool, step-by-step!Does the four-percent rule still work in 2025? How much do you really need to save for retirement? Whether you’re just starting your quest for FIRE or looking to tweak your investment portfolio as you approach retirement, cFIREsim will show you where you stand and what you might need to adjust to meet your retirement goals!In This Episode We CoverA step-by-step walkthrough of Lauren’s FREE cFIREsim toolHow much money you actually need to retire earlyReverse-engineering your financial independence numberWhether you can still retire on the four-percent rule in 2025How to ensure that your money not only lasts but also grows in retirementAnd So Much More!Links from the ShowMindy on BiggerPocketsScott on BiggerPocketsListen to All Your Favorite BiggerPockets Podcasts in One PlaceJoin BiggerPockets for FREEEmail Mindy: [email protected] Scott: [email protected] Money Facebook GroupcFIREsim ToolLauren’s BlueskySocial Security AdministrationGet to FIRE Faster with Scott’s Book “Set for Life”Find an Investor-Friendly Agent in Your AreaHow Much Do You Need for Early Retirement? (How to Calculate Your FI Number)Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-597Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related