Some people may be able to maintain their standard of living on just 70 percent of pre-retirement income, while others will nudge close to 90 or even 100 percent. Much depends on what kind of retirement you envision. Spending patterns also vary during retirement. Some retirement experts describe retirement as really three stages, not one. The first stage is active, with travel or other dollar-consuming activities most likely to occur.
Life slows down a little in the passive stage, and so do costs.
The last stage is far less active, though costs could rise again because of medical care due to deteriorating health. Another big factor in how much money you need to accumulate for retirement is at what age you plan to retire. Some people want to retire in their mid-fifties or early sixties. They will need to have much greater financial resources than someone who plans to work well past normal retirement age, even if only part-time. What financial resources you can bring to retirement make a major difference on how large you need to build a nest egg.