There is no single magic number, but a few well-tested rules of thumb can get you a realistic target in minutes. The right one for you depends on the lifestyle you want and how much of your income other sources will cover.
Method 1: Multiply your desired income by 25
This comes straight from the 4% rule. Decide how much annual income you want from your savings, then multiply by 25. If you want $50,000 a year from your portfolio, you need roughly $1.25 million. It’s the quickest back-of-envelope target.
Method 2: Replace 70–80% of your pre-retirement income
Many retirees need about 70–80% of their working income to keep their lifestyle, since some costs (commuting, retirement saving itself) disappear. If you earn $80,000, plan for roughly $56,000–$64,000 a year in retirement from all sources combined.
Method 3: Save a multiple of your salary by age
A common benchmark: aim for about 1× your salary saved by 30, 3× by 40, 6× by 50, 8× by 60, and 10× by 67. It’s a rough checkpoint, not a rule, but it helps you see if you’re on track.
Don’t forget Social Security and pensions
Your personal savings usually don’t have to cover everything. Social Security replaces a meaningful share of income for many workers, and a pension covers more. Subtract those from your target and the amount you need to save yourself often shrinks considerably. Our calculator shows only the personal-savings piece, so add other income on top.