Freedom days refers to the number of days that your retirement savings could sustain you (without working) each year (indefinitely) at your current spending level. Once you reach 365 freedom days per year, you’ve got enough money saved up to never have to work again. The freedom date then tells you the date through which your retirement savings would support you each year. For example, if you have 100 freedom days then your spending could be covered through April 10th, each year.
How close are you to 365 “freedom days”?The goal of the freedom calculator is to let you know how close to financial independence (i.e. freedom) you are, measuring your progress in terms of freedom days. The key determinants for retirement are total retirement savings and annual spending.