Multiple factors need to be considered. How much travel do you plan to do? Where do you live? How big of a house do you live in. How many vehicles to you own? Other income during retirement. How much is the total monthly cost will help determine how much you need from retirement each month. In most cases if you retire before age 65 you will need over a million dollars in retirement account. I retired at 60 and then a year later got talked into consulting with I am still doing at age 63. I still have not collected Social Security because I make too much money. Plan to start collecting at 65 as I wind down my consulting career.