Canva | Brigitte Theriault from Getty Images Signature and AndreyPopov from Getty Images Key Points A $10 million retirement target makes sense in expensive cities like San Francisco but exceeds what most people need. The 4% withdrawal rule suggests someone spending $120k annually needs a $3 million portfolio to retire. Location and monthly expenses determine retirement needs more than any single target number. If you’re thinking about retiring or know someone who is, there are three quick questio ...