The Myth of the Magic Retirement Number
Most people realize the importance of saving for retirement, but knowing exactly how much they need to save is another issue altogether.
The conventional wisdom is that you should draw no more than 4% of your retirement accounts, coupled with any entitlements, each year for living expenses. However, that advice may not be as effective as people are living longer in retirement than ever before. Many people want to continue their lifestyle as they did in their working years, or possibly even be more lavish.
From something as small as setting up a 401(k) at your first job to looking at advanced longevity studies, you should take note of where you are in the retirement-planning process as
