What we think

How much should I save for retirement?

by Peter J. Creedon

Try the 25x rule:

  1. Multiply your current monthly spending and multiply by 12 to get your yearly spending

  2. Multiply your yearly spending by 25

For example, if you now spend about $2,500 a month, you spend about $30,000 a year. Multiplying by 25 gives you $750 thousand. Take that number and refine it based on your retirement lifestyle preferences and other factors.