How much do you need to retire?

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According to Jason Zweig of the WSJ, the new number is 22X your salary. For example if you want $100,000 in income for your retirement you need to have 22X that amount or a total of $2,200,000. You will never get close to that amount if you are not saving 10-15% of your salary. You will need to save a higher percentage if you have neglected this. Bottom line, you need a boat load of money to retire and you need to get a decent return on your savings. Stashing it in the bank will not get you there.

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