Estimates

Most experts estimate is that you will need 70% of whatever you need to survive now, when you retire.

It depends upon where you live. Some cities are way more expensive than others.

Write down all your monthly bills, car expenses, every bill that you will always have and their average monthly amount. Write down the amount you normally spend for your twice a year traveling and divide that by 12--then add that to the monthly expenses..

 Add the amount you normally spend each month on eating out and going to movies. Add that in. Figure in a goodly amount for the cost of living going up every year until you retire. Don't forget health insurance. Divide the yearly rate by 12.