Are you pondering about when you would be able to retire? Are you confused when those who are approaching retirement give you advice to start investing early? What is so special about compound interest anyway and its impact on your retirement plan? We will help you break down the information by showing you the data in an easy to digest format tailored to your financial situation.
To get started you can put in information about your brokerage accounts, retirement funds, and other investment funds and RetireFIRE will tell you approximately how much you would need to save per year in order to achieve financial independence. This tool is by no means a financial advisor to tell you what to invest in but it is a helpful guide for those looking to get a high level overview of what does financial independence and retirement really mean. In the end, all you need is enough savings where the rate of return will cover your living expenses. This app is inspired by the FIRE (Financial Independence, Retire Early) lifestyle movement where it shows how low expenditures and investing in low cost mutual funds and index funds can successfully lead to early retirement.