A FIRE (Financial Independence, Retire Early) number is the amount of money you need to save and invest to achieve financial independence and retire earlier than the traditional retirement age.
To calculate it, you need to know and enter your annual expenses and the safe withdrawal limit. Average Australian family annual expenses
The Safe Withdrawal Limit refers to the percentage of your retirement savings that you can withdraw each year without running the risk of outliving your funds. It is typically based on the 4% rule, which suggests that withdrawing 4% annually. Refer to Trinity Study for more information.