Retirement is Not an Age; It’s a Financial Number” – Dave Ramsey

Core Insights - Retirement readiness is determined by the investment account balance and income generation rather than a specific age [2][6] - The 4% rule is a common guideline for determining the required nest egg size by multiplying annual income needs by 25 [4][6] - An alternative approach suggests saving 10 times the final income before retirement [6] Calculation Methods - The most accurate method for calculating retirement readiness involves determining exact budget needs to ensure the nest egg can cover expenses [3] - For example, if annual spending is anticipated at $60,000 with $25,000 from Social Security, the required nest egg would need to generate $35,000, leading to a total savings requirement of $875,000 [4][5]