SOLVED: How Much Do I Need to Save for Retirement?

How to find your magic number.

From Kiplinger's Personal Finance magazine, September 2006

Assuming you withdraw 4% -- or one twenty-fifth -- of your retirement nest egg to supplement Social Security or other retirement income, multiply the first year's withdrawal by 25 to determine your target number. For a bare-bones budget, you'd need only half as much, or 12.5 times your initial withdrawal, to purchase an immediate annuity. Your personal number is probably somewhere in between.

See How Much is Enough? for more information. And use Kiplinger.com's calculators to estimate your retirement target, Social Security benefits and how bigger contributions to retirement accounts can add up.

RELATED LINKS
	Fresh Ideas for Retiring Rich
	Three Simple Ways to Reach Your Number
	What to Ask Before Buying an Annuity

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