CALCMONEY // FIRE // OH
FIRE number in Ohio: $1,525,000 (25x median income). Cost of living index: 90/100. State income tax: 0%–3.75%.
Calculate Your FIRE Date$1,525,000
90/100
$61,000
0%–3.75%
| Savings Rate | Annual Savings | Annual Spend | Years to FIRE |
|---|---|---|---|
| 20% | $12,200 | $48,800 | 32 yrs |
| 30% | $18,300 | $42,700 | 27 yrs |
| 40% | $24,400 | $36,600 | 24 yrs |
| 50% | $30,500 | $30,500 | 22 yrs |
| 60% | $36,600 | $24,400 | 20 yrs |
| 70% | $42,700 | $18,300 | 18 yrs |
Ohio has a cost of living index of 90 relative to the US average of 100. This is close to the national average. Ohio 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 Ohio's median income of $61,000, that is $1,525,000. However, if you plan to spend more (or less) than median income in retirement, scale the number accordingly.
Ohio taxes income at 0%–3.75%. In FIRE, your primary income comes from portfolio withdrawals, dividends, and capital gains. Long-term capital gains in OH are taxed at the same rate as ordinary income, including IRA withdrawals. Factor this into your withdrawal rate planning.