BiggerPockets Money Podcast

Can You Retire…Now? This FIRE Calculator Will Tell You!

Jan 10, 2025

Lauren Boland, a software engineer and creator of the cFIREsim calculator, joins the discussion to tackle a pressing question: "Do I have enough to retire?" She unpacks her groundbreaking tool designed to evaluate retirement readiness by simulating various financial scenarios. The conversation dives into the four-percent rule’s relevance in 2025, how to reverse-engineer a financial independence number, and the importance of investment strategies, including the impact of real estate on retirement planning.

57:55

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Episode guests

Lauren Boland

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Episode notes

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Quick takeaways

The cFIREsim calculator provides a comprehensive tool for assessing retirement readiness by simulating various financial scenarios based on user inputs.

Achieving financial independence is emphasized as attainable for everyone, showcasing the importance of financial knowledge and strategic planning regardless of background.

The conversation highlights the necessity of flexibility in financial strategies, advocating for adaptable spending plans to mitigate risks from market volatility during retirement.

Deep dives

Understanding Financial Independence and the FIRE Movement

Financial independence is a primary goal for many individuals pursuing the FIRE (Financial Independence, Retire Early) movement. This approach emphasizes the importance of saving and investing a substantial portion of one's income to ensure a comfortable retirement. The discussion highlights how personal stories, like that of Lauren Boland, illustrate the transformative power of financial knowledge, especially when growing up in a financially challenging environment. Achieving financial freedom is depicted as attainable for anyone, regardless of their starting point or background.

Intro

2min

Transforming Financial Perspectives and Career Paths

3min

Enhancing Retirement Planning with a New Calculator

4min

Unlocking Real Estate Investing: Momentum 2025 and Key Opportunities

4min

Navigating Retirement Simulations

23min

Investment Strategies and Asset Allocation Insights

5min

Reimagining Retirement Portfolios

16min

“Do I have enough to retire?” is a question most people in the FIRE community grapple with, but today, we’re sharing a FREE tool that will help you put this issue to bed! If you’re concerned about running out of money later in life or developing “One More Year Syndrome,” you won’t want to miss this episode!

Welcome back to the BiggerPockets Money podcast! Software engineer Lauren Boland has developed a FIRE calculator that predicts whether your nest egg will be able to support you in retirement. This powerful tool takes dozens of key data points—such as your financial independence number, retirement age, annual expenses, portfolio mix, and historical returns—to simulate multiple retirement scenarios. In this episode, Lauren, Scott, and Mindy are going to walk you through this powerful tool, step-by-step!

Does the four-percent rule still work in 2025? How much do you really need to save for retirement? Whether you’re just starting your quest for FIRE or looking to tweak your investment portfolio as you approach retirement, cFIREsim will show you where you stand and what you might need to adjust to meet your retirement goals!

In This Episode We Cover

A step-by-step walkthrough of Lauren’s FREE cFIREsim tool

How much money you actually need to retire early

Reverse-engineering your financial independence number

Whether you can still retire on the four-percent rule in 2025

How to ensure that your money not only lasts but also grows in retirement

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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