<prompt> Human: I was calculating how much retirement savings I would have if I contributed the maximum IRA amount each year. It turns out that this will provide for less than half of my retirement needs. I have a link to the spreadsheet I made below. I would really appreciate if you all could look it over and see if Ive missed something.Here are the aumptions: -Inflation 2.5 -Investment earnings 6.0 -Withdrawal rate 4.0 -Only need 80 of my current salary in retirement 50k.840kIt seems that even if you maximize IRA contributions, you will still need to rely on social security and other pension plans.EDIT: thanks for all of the insightful replies. Tweaking some of the aumptions as suggested yields dramatically different results: 3 inflation, 9 return, 5 withdrawal rate, and the additional catch-up contributions means that IRA contributions could fully fund a 46,000 annual salary in retirement in todays dollars.Assistant: 1. 401k if your employer offers one.2. invest in a taxable account.3. reduce your needs.It only takes 3 steps. Dont let your lifestyle increase with your salary.Human: I dont think 40k is too high of a goal. Of course I would reduce my expenses or needs if it came to it. This was just an illustration that I thought I would share. I do have a DB pension plan at work, but I know that others might not have that option.Assistant: also, in later life, you can put more into your IRAHuman: Thats true, and its something I didnt consider. Does that begin around age 55?  <response>: Age 50, actually. 