Do you have any idea when you can retire? Sure, sure… you can walk off the job today if you want. What I really mean is, when can you afford to retire?
Everyone has different 401K plans and savings accounts. Much of the money you’ll see from those savings will depend on the economy. But the Social Security Administration has a benefits calculator that will give you an idea of how much you would get from SSI if you left work now, when you’re 62 or (and we hope we won’t have to work this long) when you’re 85! It’s pretty handy; and should help you adjust your other savings accordingly.