"We have learned two key things from talking to people who have retired, or are about to: First, they are trying to better plan for funding needs by decade rather than in a lump sum and, second, to focus on revenue still coming into the household at least through their 60s and 70s. The point is to still bring in income to supplement retirement funds and fund the lifestyle you want. We should be focused on lifestyle desires, likely longevity of yourself and spouse or partner, and types of expenditures by decade. The real number might be a combination of 10-12 times your current income plus revenue coming in at least during your 60s and 70s, beyond savings."