Financial Freedom Calculator
Find out exactly how much you need to save each month to reach financial independence on your timeline.
These numbers assume you can keep saving.
What if you can't?
1 in 4 physicians will experience a disability during their career. Without coverage, the financial freedom number you just calculated becomes impossible.
Every doctor deserves the financial freedom to practice medicine on your terms — when, where, how, and as much (or as little) as you want.
Before you plug in numbers, it's important to understand the variables so you get an accurate result. Here's what you need to know:
The entire calculator is driven by your spending. The less you need to spend, the less you'll need to save. Don't let someone tell you that you need more because you make a higher income. It has nothing to do with that — it has everything to do with your annual spending.
I always use 2–3% less than I actually expect, which allows the calculations to account for roughly 2% annual inflation.
The SWR answers the question: "What percentage of my portfolio will I take out each year to live on in retirement?" Classically, this number was 4% (the famous "4% Rule"), but recent studies suggest you may be able to take closer to 4.7%.
So you might go with a more conservative 4%, or choose something closer to 5% based on newer research. Here's a chart showing how safe withdrawal rates change based on your planning horizon:
