Ultimate Quit Job Calculator

The traditional FIRE rule is 25x your annual expenses. If you spend $50,000/year, you'd need $1.25 million invested. However, this varies by lifestyle: Lean FIRE (minimal lifestyle) might require 20-22x expenses, while Fat FIRE (luxurious lifestyle) might need 30-40x expenses. Geographic arbitrage and part-time work can significantly reduce these requirements.

The 4% rule suggests you can withdraw 4% of your portfolio annually with high confidence it will last 30+ years. Recent studies suggest 3.5% might be safer given current market valuations and low interest rates. Many FIRE practitioners use a flexible approach: 4% in good markets, 3% in downturns, and have multiple backup plans including part-time work or geographic arbitrage.

This depends on your financial cushion and health situation. Quit without a job if: you have 12+ months expenses saved, your health is seriously affected, you have a solid business plan, or you're pursuing FIRE and don't need immediate income. If you're simply unhappy, try improving your situation first or job search while employed. Having a plan is more important than having a specific job lined up.

Plan this carefully! Options include: COBRA (expensive but comprehensive), ACA marketplace plans (often cheaper), spouse's plan, or short-term insurance. For early retirees, budget $300-1200/month for health insurance. Consider HSA preservation, 401(k) rollover decisions, and life insurance conversion. Some FIRE practitioners relocate to countries with universal healthcare or work part-time jobs with benefits.

Coast FIRE means you've saved enough that compound growth will fund traditional retirement at 65, even if you never save another dollar. This gives you career flexibility now since you only need to cover current expenses, not build wealth. Regular FIRE means you have enough saved to retire immediately at any age. Coast FIRE typically requires $100-300k by age 30-35, while full FIRE requires the full 25x expenses.

Several strategies exist: Roth IRA contributions (not earnings) can be withdrawn penalty-free anytime. 401(k) loans if still employed. Rule 72(t) allows substantially equal periodic payments. Roth conversion ladder: convert traditional 401(k) to Roth IRA, wait 5 years, then withdraw conversions penalty-free. Many FIRE practitioners build a 5-year bridge of taxable investments to cover the gap before accessing retirement accounts.

Absolutely! Many achieve FIRE on modest incomes through high savings rates, geographic arbitrage, and lifestyle optimization. A couple earning $60k combined can achieve FIRE by living on $30k and saving $30k annually. Keys include: house hacking, minimizing transportation costs, cooking at home, choosing lower cost areas, and building side income. It takes longer than high earners, but it's very achievable with discipline and creativity.

Regret is normal and often temporary. Many early retirees go through a "honeymoon phase" followed by disenchantment before finding their new rhythm. Minimize regret by: having multiple interests ready, maintaining professional relationships, keeping skills current, and considering it a sabbatical rather than permanent retirement. Remember, you can always return to work—having FU money gives you choices, not limitations.

FIRE challenges social norms, so expect pushback. Strategies: lead by example rather than preaching, focus on your values (time freedom, reduced stress), have solid financial plans to show it's not reckless, find supportive communities online and locally, and be patient—success speaks louder than words. Consider gradual transitions to help others adjust to your changing lifestyle.

Build flexibility into your plan: maintain 2-3 years cash for market downturns, have geographic arbitrage options, keep some earning ability, and consider real estate or TIPS for inflation protection. Historical data shows that flexible withdrawal strategies (3-5% depending on market conditions) have survived all historical scenarios including high inflation periods and major crashes. Multiple backup plans are essential.

It depends on interest rates and risk tolerance. If mortgage rate is below 4%, mathematically you're better investing the difference. However, psychological benefits of no mortgage include: reduced monthly expenses in retirement, eliminated sequence of returns risk on that portion, and peace of mind. Many FIRE practitioners compromise: pay extra toward mortgage while also investing, or plan to pay off mortgage right before retiring.