If you haven't already read the first post of these series , I suggest you go back and do so to get the background of what we are trying to show. For this particular post, we just want to know how much is needed to live for the 20 years between the ages of 65 and 85 if you were making $60,000 a year prior to retirement. Again, read the last post , to see where the numbers came from. Speaking of numbers, it is important to note that individual goals and resources ultimately dictate how one will fare in retirement. The numbers presented here are general and are only used to make a point. To begin figuring out how much is needed for 20 years of retirement, we have to first establish how much income is needed during retirement years. After taking into account certain changes like healthcare costs and taxes, a recent study by the Employee Benefit Research Institute (EBRI) found that even after 5 or 6 years in retirement, 46.9% of households spend at more than 80% of their preretire...