The term refers to a tool designed to estimate the time required to achieve financial independence and retire early (FIRE), specifically tailored to reflect the cost of living and investment opportunities prevalent along the West Coast of the United States. These calculators often incorporate data related to housing costs, transportation expenses, and state income taxes, providing a more accurate projection for individuals residing in or planning to relocate to this region.
Such planning instruments offer significant advantages to individuals seeking financial freedom. They allow for a more realistic assessment of necessary savings, investment strategies, and potential retirement timelines. The ability to customize these projections with region-specific data allows individuals to refine their financial goals and adjust their savings behavior accordingly. Historically, generic financial calculators often underestimated the financial resources required for those living in high-cost areas like the West Coast, making these specialized tools a valuable asset.