The financial freedom calculator is a free tool to help you estimate how long it will take until you can retire.Home»PersonalFinance»FinancialFreedomCalculator–HowMuchShouldYouSave?AdvertiserDisclosureThisarticle/postcontainsreferencestoproductsorservicesfromoneormoreofouradvertisersorpartners.Wemayreceivecompensationwhenyouclickonlinkstothoseproductsorservices.PersonalFinanceFinancialFreedomCalculator-HowMuchShouldYouSave?WrittenbyRobBerger|Modifieddate:Jun.3,2021Editor'snote-Youcantrusttheintegrityofourbalanced,independentfinancialadvice.Wemay,however,receivecompensationfromtheissuersofsomeproductsmentionedinthisarticle.Opinionsaretheauthor'salone.Thiscontenthasnotbeenprovidedby,reviewed,approvedorendorsedbyanyadvertiser,unlessotherwisenotedbelow.Howmuchshouldyoubesaving?It’saquestionthatweaskalot,andthereareanumberofrulesofthumb.Oneanswerisbasedonthe50/20/30budgetingsystem.PopularizedbySenatorElizabethWarren,thisruleofthumbsuggestsweshouldbesaving20%ofourincome.Anygeneralguideline,however,hasshortcomings.Forstarters,howmuchweshouldsavewillvarybasedonourage,yearstoretirement,andoverallgoals.A20yearoldmaynotneedtosavethesameamountassomebodyintheir50’swho’sjuststartingtosaveforretirement.Yetifageneralruleofthumbonlygetsussofar,howdowedecidejusthowmuchtosockawayeachmonth?FinancialFreedomCalculatorToanswerthisquestion,I’vecreatedwhatIcalltheFinancialFreedomCalculator.Thissimplespreadsheetcanquicklyestimatehowlongitwilltakeyoutoachievefinancialfreedombasedonthepercentageofyourincomethatyousave.Belowisaquickviewofthecalculator.We’llwalkthroughtheunderlyingassumptions,andyoucanusethislinktoaccessthecalculator (you’llbepromptedtomakeacopyofthespreadsheetsothatyoucaneditit).Weachievefinancialfreedomwhenourinvestmentscangeneratesufficientincometomeetourlivingexpenses.Formostpeople,thisoccursatatraditionalretirementage,ifatall.Others,likeMr.MoneyMustache,achievefinancialfreedomataveryyoungage.TheideabehindtheFinancialFreedomspreadsheetistoestimatehowmanyyearsitwilltakeyoutoa