CALCMONEY // FIRE // IA
FIRE number in Iowa: $1,640,000 (25x median income). Cost of living index: 90/100. State income tax: 3.8% flat.
Calculate Your FIRE Date$1,640,000
90/100
$65,600
3.8% flat
| Savings Rate | Annual Savings | Annual Spend | Years to FIRE |
|---|---|---|---|
| 20% | $13,120 | $52,480 | 32 yrs |
| 30% | $19,680 | $45,920 | 27 yrs |
| 40% | $26,240 | $39,360 | 24 yrs |
| 50% | $32,800 | $32,800 | 22 yrs |
| 60% | $39,360 | $26,240 | 20 yrs |
| 70% | $45,920 | $19,680 | 18 yrs |
Iowa has a cost of living index of 90 relative to the US average of 100. This is close to the national average. Iowa offers a typical cost structure — housing and expenses track closely to US median.
The 4% safe withdrawal rule suggests a FIRE number of 25x annual expenses. At Iowa's median income of $65,600, that is $1,640,000. However, if you plan to spend more (or less) than median income in retirement, scale the number accordingly.
Iowa taxes income at 3.8% flat. In FIRE, your primary income comes from portfolio withdrawals, dividends, and capital gains. Long-term capital gains in IA are taxed at the same rate as ordinary income, including IRA withdrawals. Factor this into your withdrawal rate planning.