TL;DR
A FIRE enthusiast built a spreadsheet that breaks a single S$4 million retirement target into bite-sized expense “levels” (housing, food, insurance, travel, etc.), each with its own progress bar. Instead of obsessing over one intimidating number, you track milestones category by category. For Singaporeans navigating CPF, property loans and rising living costs, this approach can sharpen clarity, improve motivation and force smarter trade-offs.
Many Singaporeans chasing Financial Independence, Retire Early (FIRE) set a big headline goal:
“I need S$3 million.”
“I need S$4 million.”
And then they track net worth as a single percentage bar.
The problem? It feels abstract and emotionally distant.
At 60% to your FIRE number, you still feel… incomplete. The final 40% looks enormous. Motivation dips.
A FIRE enthusiast (Firepathlion) solved this by reframing the problem: instead of one number, he broke his FIRE target into individual retirement expenses and tracked each one separately with progress bars.
Think of it as levelling up in a game.
The spreadsheet starts with three key inputs:
| Input | Example |
|---|---|
| Current Portfolio Value | S$2.8 million |
| Target Withdrawal Rate | 3.25% |
| Current FIRE Income | ~S$7,583/month |
From there, you list every retirement expense:
Each item has:
The formula is simple:
Required capital = Annual expense ÷ Withdrawal rate
At a 3.25% withdrawal rate:
S$10,800 annual food expense requires about S$332,000 in invested capital.
Once your portfolio covers that, the “Food” bar turns to 100%.
Many people say “I need S$3 million” but have never broken down their retirement spending.
In Singapore, retirement planning must account for:
By itemising expenses, you see:
It becomes concrete.
Instead of:
“I’m only 65% to my FIRE number.”
You can say:
Psychologically, this matters.
You are no longer behind — you are progressing.
This mirrors behavioural finance research: humans respond better to visible progress and short-term wins than distant abstract goals.
Here’s the uncomfortable question the spreadsheet asks:
Is that extra S$200/month hobby worth another S$74,000 in required capital?
S$200 × 12 = S$2,400/year
At 3.25%, that requires ~S$74,000 in additional investments.
Every lifestyle upgrade has a capital cost.
For Singaporeans in their 30s and 40s, dealing with:
This framework exposes the real financial implications. How to Use This FIRE Spreadsheet Strategically
The spreadsheet allows different sorting strategies:
Fund essentials before luxuries:
This builds a “survival FI” first — very powerful for peace of mind.
Like debt snowball.
Knock out:
You see rapid 100% bars early. Motivation spikes.
Tackle mortgage or travel fund first.
Once completed, everything else feels easier.
This approach suits high-income professionals in Singapore who prefer aggressive capital deployment.
The spreadsheet example uses 3.25%, more conservative than the traditional 4% rule.
For Singaporeans:
A lower withdrawal rate may be sensible for those retiring early (40s or 50s).
But if CPF Life covers part of your essentials, your required portfolio may be smaller than you think.
This is where the spreadsheet becomes particularly useful — you can adjust:
And test scenarios.
When every S$100/month equals ~S$37,000 in required capital (at 3.25%), you think differently about:
You begin to evaluate spending in capital terms.
By funding essentials first, you can semi-retire earlier.
For example:
If S$1.5 million covers your core expenses, you may:
You don’t need full S$4 million to gain freedom.
Traditional mindset:
Not FI = trapped
FI = free
This spreadsheet introduces “layers of freedom”.
You progressively secure:
Freedom becomes incremental.
List your annual retirement expenses and divide by your withdrawal rate (e.g. 3–4%). Adjust for CPF Life payouts and property status.
Many use 3–4%. Early retirees often prefer 3–3.5% for added safety.
No. It complements it. Net worth shows overall progress. Category tracking improves behavioural discipline and clarity.
It depends on lifestyle, housing and family obligations. With a paid-off HDB and CPF Life, many households may require significantly less.
The spreadsheet doesn’t just track money.
It reshapes behaviour.
Source: Fire-path lion, FIRE spreadsheet
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