FIRE Calculator for Europe
Find your FIRE number, your early-retirement age and your Coast FIRE status — with the thing US calculators ignore: European capital gains tax. Presets for 8 countries, every rate sourced and dated.
Your numbers
Italy: 26% imposta sostitutiva on financial capital gains (12.5% on Italian government bonds, not modeled). Official source · Tax presets last verified 2026-07-29.
Your FIRE number
€1,014,232
Portfolio needed so €30,000/year net survives your withdrawal rate after capital gains tax.
FIRE age
60.1
30 years and 1 months from now, in real (inflation-adjusted) terms.
Coast FIRE at age 67
€172,869
You're 29% of the way to coasting.
Your millionaire timeline
At this savings rate you reach €1,000,000 at age 54.3 (24y 4m from now). Explore the full projection →
Why Europe needs its own FIRE calculator
FIRE — Financial Independence, Retire Early — is usually explained with US assumptions: tax-free Roth withdrawals, 401(k) matches, dollar market history. Europeans retire into a different reality. In most EU countries, selling investments to fund your retirement triggers capital gains tax on every withdrawal: 26% in Italy, 26.375% in Germany, 31.4% in France, 38% on ETFs in Ireland. The Netherlands taxes deemed returns on your wealth every single year, whether you sell or not — while Luxembourg exempts long-held shares entirely.
Ignore this and your "FIRE number" is 10–25% too small — which at a 3.5% withdrawal rate can mean retiring years later than planned. This calculator grosses up your spending for your country's tax on the gains portion of withdrawals, works in inflation-adjusted terms, and defaults to a European-conservative 3.5% withdrawal rate instead of the American 4%.
The math, in the open
FIRE number = gross annual spending ÷ withdrawal rate, where gross spending = net spending ÷ (1 − tax rate × gains share of portfolio).
Worked example: Marco, 30, in Milan: €50,000 saved, €1,000/month invested, wants €30,000/year net. At a 7% nominal return, 2% inflation and Italy's 26% imposta sostitutiva, his grossed-up spending is ≈€35,700 and his FIRE number at a 3.5% SWR is ≈€1.02M in today's money — reachable at around age 55. The same inputs in a US calculator say €857K and age 52: a three-year gap that is pure tax.
Coast FIRE = the amount which, left alone with zero new contributions, compounds to your FIRE number by traditional retirement age. Once you pass it, working is a choice about lifestyle, not necessity. Want to know when you can stop saving entirely? Use the dedicated Coast FIRE calculator for Europe.
Capital gains tax presets (2026)
| Country | Effective rate | Notes |
|---|---|---|
| Italy | 26% | 26% imposta sostitutiva on financial capital gains (12.5% on Italian government bonds, not modeled). Source |
| Germany | 26.38% | 25% Abgeltungsteuer + 5.5% solidarity surcharge = 26.375%. Equity funds get 30% Teilfreistellung (effective ~18.5%), and the €1,000 Sparer-Pauschbetrag is not modeled. Source |
| France | 31.4% | 31.4% prélèvement forfaitaire unique from 2026 (12.8% income tax + 18.6% social charges, raised from 30%). PEA wrapper advantages not modeled. Source |
| Spain | 23% | Savings income is taxed progressively at 19–30% (top bracket raised in 2025); 23% is used as a mid-range estimate for typical annual withdrawal sizes. Source |
| Portugal | 28% | 28% flat rate on capital gains. Assets held under 365 days by high earners must be aggregated at up to 48% — not modeled. Source |
| Ireland | 38% | 38% exit tax on ETFs and funds from 1 January 2026 (reduced from 41%). Direct shares fall under 33% CGT instead. Source |
| Netherlands | ~2.2%/yr on wealth | Box 3 taxes a deemed return on assets rather than realised gains: 36% × 6.00% deemed return on investments = ~2.16%/year drag in 2026. The €59,357/person tax-free allowance is not modeled. Source |
| Luxembourg | 0% | Capital gains on shareholdings under 10% held longer than 6 months are tax-exempt. Speculative gains (held under 6 months) are taxed at progressive rates — not modeled, as FIRE portfolios are long-term. Source |
Last verified 2026-07-29. These are simplified presets for planning — allowances, wrappers (PEA, Teilfreistellung) and special regimes are noted but not fully modeled. Always check the official source for your situation. Spotted an outdated or inaccurate rate? Tell us at [email protected] — we verify and fix.
Frequently asked questions
What is FIRE? And Coast FIRE?
FIRE stands for Financial Independence, Retire Early: saving and investing enough that your portfolio's returns cover your living costs forever, making work optional. Your 'FIRE number' is that portfolio size. Coast FIRE is the earlier milestone: once your investments will compound to your FIRE number by normal retirement age on their own, you can stop saving and just cover your monthly costs — you're 'coasting'.
Why do US FIRE calculators overestimate for Europeans?
US tools assume tax-advantaged accounts (401k, Roth IRA) and often ignore withdrawal taxes entirely. In most of Europe your gains are taxed on the way out — 26% in Italy, 26.375% in Germany, 31.4% in France — so the portfolio you actually need is typically 10–25% larger than a US calculator tells you. This calculator grosses up your withdrawals for your country's tax on the gains portion.
What withdrawal rate should Europeans use?
The classic 4% rule comes from US market history. European studies and most EU FIRE communities lean more conservative — 3.25%–3.5% — because of higher taxes, different market histories and longer retirements. We default to 3.5% and let you change it.
How does this calculator handle capital gains tax?
Withdrawals are split into your own contributions (already taxed) and gains (taxed at your country's rate). Only the gains portion is taxed, using the gains share of your portfolio at retirement. The Netherlands is special: Box 3 taxes a deemed return on wealth each year rather than realised gains, so we model it as an annual drag on returns instead.
What about state pensions?
Not yet modeled — a state pension arriving at 67 reduces the portfolio you need. It's on the roadmap; today the result is conservative for anyone entitled to a public pension.
Is my data stored anywhere?
Everything runs in your browser. Your inputs are saved only to your device's local storage and are never sent to us.
Disclaimer: this calculator is an educational tool, not financial or tax advice. Projections are deterministic simplifications of uncertain markets — for probability-based outcomes, try the Monte Carlo simulator.