Coast FIRE / Barista FIRE Calculator

It depends on your expected retirement expenses, Social Security benefit, and life expectancy -- there's no single universal number, though rules of thumb like "25x annual expenses" are a common starting point. This calculator lets you build a more specific estimate from your own numbers.

A 401(k) is employer-sponsored, often with an employer match, and has a higher annual contribution limit. An IRA is opened independently at a brokerage, with a lower contribution limit but typically far more investment choice. Many people contribute to both -- a 401(k) up to the employer match, then an IRA.

Claiming at 62 gives a permanently reduced benefit; waiting until your full retirement age (typically 66-67) gives the full benefit; waiting until 70 gives the maximum benefit, growing roughly 8% per year you delay past full retirement age. The right age depends on your health, other income, and whether you need the money sooner.

Inflation erodes purchasing power both before and during retirement, so a nominal dollar figure that looks sufficient today can fall short decades from now. This calculator shows results in both nominal and inflation-adjusted terms so you're not planning around a number that quietly loses value.