Lean FIRE Calculator — Retire on $1 Million or Less
Lean FIRE means living modestly in retirement with a lower spending target. For many, it's the fastest path to financial freedom.
FIRE Calculator (Financial Independence)
How It Works
Lean FIRE targets $40-50k/year spending, requiring a portfolio of just $1-1.25M.
The tradeoff: modest housing, used car, minimal travel. But many find contentment in simplicity.
High-cost areas are tough on lean budgets. Consider locations with lower COL: Midwest, Southeast US, or abroad (Portugal, Mexico).
With 50%+ savings rate, lean FIRE is achievable in 15-20 years even on median income.
Frequently Asked Questions
What is lean FIRE?
Financial independence with modest spending — typically $40-50k/year or $1-1.25M portfolio. Contrasts with fat FIRE ($2-3M+).
Is lean FIRE realistic in 2024?
Yes, but location matters enormously. $45k/year works great in rural Ohio; it's tight in San Francisco. Consider moving in retirement.
How long to reach lean FIRE?
With 50% savings rate on median income: ~17 years. With higher income + investments: as fast as 10-12 years.