You want to retire at age 65, and expect to live until age 80. You would like an annual gross income of $60,000. You are going to invest conservatively and so will earn 4% per year. How much do you need saved up at age 65 to meet this goal?

The amount you need saved up at age 65 to meet this goal is:

$667,103.25

Retirement Planning 2

Assume the answer to the previous question is $1 million, and you are currently 25. How much would you have to save per year if earning 4%? What if you earned 7%? 10%?