"[T]here are too many variables that change during retirement, and retirement spending on average does not increase at the same level of inflation. In fact, the higher an employee's pre-retirement income is, the lower the percentage replaced needs to be. It's hard to argue that a person earning $200,000 needs to replace as much income as someone earning $20,000 to cover their basic needs.... [R]etirees may actually only need to save 50-60% [of pre-retirement income]. That's 20% less than the conventional rule of thumb."  MORE >>