1. Your plan is to retire at age 55. Your investment advisor has told you that to retire at that age, you must have approximately 15 times your current salary, but inflated to the year at which you wish to retire.

2. Determine what salary you need to live on today.

3. Inflate this salary at 2% per year until you reach the age of 55.

4. Multiply this by 15 to approximate how much you will need to retire.