Savings Rate Calculator
Calculate what percentage of your income you're saving each month
Your Monthly Finances
Before taxes
20.0% tax rate
All living expenses, bills, discretionary spending
🎯 Savings Rate Tips
- • Higher savings rate = faster financial independence
- • 50%+ savings rate = retire in 10-15 years
- • Focus on reducing expenses AND increasing income
- • Automate savings to make it consistent
- • Track your rate monthly and aim to improve
Your Savings Rate
27.1%
âś… Good Saver
⏱️ Time to Financial Independence
26.9
Years to FIRE
At 27.1% savings rate
Based on 4% safe withdrawal rate (25x annual expenses)
đź“Š Compare to Averages
🚀 What If You Saved More?
+5% savings rate
→ 32.1% total rate
-5.8 years
to FIRE
+10% savings rate
→ 37.1% total rate
-10.0 years
to FIRE
+20% savings rate
→ 47.1% total rate
-15.7 years
to FIRE
How Savings Rate Works
Your savings rate is the percentage of your after-tax income that you save and invest each month. It's the single most important metric for achieving financial independence.
Formula:
- • Net Income = Gross Income - Taxes
- • Savings = Net Income - Expenses
- • Savings Rate = (Savings / Net Income) × 100%
- • Years to FI = Based on 4% safe withdrawal rule (25x expenses)
Savings Rate Impact:
- • 10% savings rate → ~50 years to FI
- • 20% savings rate → ~35 years to FI
- • 30% savings rate → ~25 years to FI
- • 50% savings rate → ~15 years to FI
- • 70% savings rate → ~8 years to FI
The FIRE (Financial Independence, Retire Early) community typically targets 50%+ savings rates to achieve FI in 10-15 years. Every percentage point increase significantly accelerates your path to financial freedom.