<prompt> Human: I know theres a ton of retirement calculators out there, but as a 24 year old, it feels so far away, that I have to wonder if my variables are right, and how other fiscally conscious people are saving. Ive composed the following list of relevant variables, and places for estimates in retirement, but may have missed something important, so feel free to add anything you think i didnt include Age: ExpectedPlanned length of retirement: ExpectedPlanned age to retire: Amount currently saved: Current Monthly or yearly savings: ExpectedTarget yearly income in retirement in todays figures: Expected inflation rate: Expected return rate Do you account for contributions rising with inflation, or assume your income and thus contributions will rise as you age? mainly applies to those in their 20s and possibly 30s Do you expect to have social security, or leave it out of your calculations? Do you have a pension, or similar to aid in retirement beyond personal savings? Do you count on it? Do you have any planned sources of continued income, e.g. investment properties, which will maintain you, instead of, or in combination with retirement savingsinvestments?I realize this is a fairly personal questionnaire, but please put in whatever you feel comfortable. I want to get a sense of others, and also a feeling of how Im doing, or if Im doing too much or too little. Below are my estimates: Age: 24 ExpectedPlanned length of retirement: 35 yrs - Indefinite a self sustaining fund would be nice ExpectedPlanned age to retire: 65-70, depending on savings and the stock market, anything sooner would be nice, but not planned. Amount currently saved: 8k or so in a ROTH IRA Current Monthly or yearly savings: 459 a month ROTH IRA, 5 income plus 4 match by employer in ROTH 401k, estimating 675-700 a month contributed, but being hourly with overtime, the 401k contribution varies weekly. ExpectedTarget yearly income in retirement in todays figures: 50,000 USD Expected inflation rate: 3.5 Based on historic average Expected rate of return: 9 before inflation Mostly in total stock market, SP, and international stock market funds, under 10 in bonds Do you account for contributions rising with inflation, or assume your income and thus contributions will rise as you age? mainly applies to those in their 20s and possibly 30s: I estimate my contribution will rise with inflation hopefully at the very least, and if my income rises above the 50k target, I plan to increase my saving, but for the moment, I only make 30k a yr plus overtime, and am forgoing moving out of my parents place just to save as is.So how am I doing? How are you doing? Any of your goals and estimates you can provide would be greatly appreciated.  <response>: Age: mid thirties wife in late twenties ExpectedPlanned length of retirement: Indefinitely depending on advances in medical science ExpectedPlanned age to retire: 60 Amount currently saved: 70k Current yearly savings: 19k 401k 11k Roth IRAs ExpectedTarget yearly income in retirement in todays figures: At my current rate, I should save about 2.8 MM by retirement. If I withdraw 4 annually, that would give me a retirement income of just under 115k. Adjusting for inflation and an expected tax rate of 25, thats under 40k note that the Roth IRAs are supposedly not going to be taxed. My goal is 100k, so obviously Im working to advance my career. Expected inflation rate: 3.3 Expected return rate: 8.0 non-inflation-adjusted Do you account for contributions rising with inflation, or assume your income and thus contributions will rise as you age? mainly applies to those in their 20s and possibly 30s No, I assume that I wont get a raise for the rest of my career although Im also assuming Ill never get fired. Obviously I expect at least some increase in salary, and hope for a large increase, but since thats impossible to predict I use very conservative numbers. Do you expect to have social security, or leave it out of your calculations? Leave it out. I wouldnt be surprised if it becomes dependent on income. Do you have a pension, or similar to aid in retirement beyond personal savings? Do you count on it? I should own my home outright by retirement or shortly thereafter. Otherwise no. Do you have any planned sources of continued income, e.g. investment properties, which will maintain you, instead of, or in combination with retirement savingsinvestments? Nothing at this time. 