Determining how much one needs to retire if you were to poll 1000 people and ask them how much do i need to retire youd probably get a range from 5 million to 100 million or more the reality is many of these same folks hope they can retire at 62 with 300k knowing when you can retire depends mainly on your cost of living less your . How much do i need to retire stay on track for retirement by knowing how much money you need at each age facebook twitter linkedin by jim probasco reviewed by david kindness updated dec 22 . Heres a simple rule of thumb for calculating how much money you need to retire at least 1x your salary at 30 3x at 40 6x at 50 8x at 60 and 10x at 67. How much do i need to retire many people overestimate how much theyll need to live on in retirement thinking that theyll spend the equivalent of their wages the common perception is that youll need between half and two thirds of the final salary you had when you were working after tax to maintain your lifestyle once you retire this is because as you might have paid off the