How to Set Retirement Goals

These calculations give you some idea of just rough guidelines to figure out what is that total nest egg I'm going to need on the day I decide to retire. So one common goal is by age 30 to save the equivalent of your annual income or your annual salary. By 40 years old, you would want two times your yearly income saved. And by 66 or 67, which might be your full retirement age, your goal should be to have at least 10 timesyour yearly income.