How much retirement should I save if I want to retire when I am 72 years old? Currently I am 43 years old.?

Public Comments

1. First off, you should be contacting a financial adviser, as they can help make the most of your retirement options and have an excellent tax advantage. I go with http://www.edwardjones.com By 72, I hope to have approximately 70% of my non-retirement salary available for 20 years after. So if I am making $100k/year, I hope to have $70k*20 (or $1.4 million) available. That of course is based on my spending habits at the time, and assuming that my major bills (home, car) are mostly paid for.
2. It depends on how much you want to have when you retire. To answer that question, you must use the formula for the future value of a dollar and the future value of an annuity, which is simply a regular stream of payments. The links below are concise, and the formulas are illustrated with examples.
3. Don't worry, you will be dead before 72. You need to provide all details to your financial portfolio before anyone can answer your question.