Facing a compressed timeline means figuring out how much you need for retirement in the next years This section provides practical tips industry standards and a simple way to calculate your nest egg for early retirement Benchmarks matter Fidelity suggests aiming for about x salary by age They also suggest milestones like x by x by x by and x by T Rowe Price offers a range of roughly x x of preretirement income by traditional retirement and x x by as intermediate guides Earlier retirement means you need more savings because you have fewer years to build up your nest egg You'll also have more years to draw from it Expect a bridge period between early retirement and Social Security funded mainly from your portfolio Practical plan estimate your spending needs pick a withdrawal rate commonly then work backward to a savings target Increase your savings rate optimize your accounts and check progress each year to keep your goal within reach https youtu be KMbhTERwnto si gJkXYeZaJmkYvXGd Key Takeaways Use industry multiples as anchors not exact answers Expect higher savings multiples for earlier exits from work A withdrawal rule helps convert spending into a target Plan for a portfolio-funded bridge before Social Security begins Raise saving rate align risk with timeline and review progress yearly Start here Clarify your retirement age lifestyle and income needs Decide on a firm retirement age and outline the lifestyle expected after leaving work That clarity makes it simple to convert current salary into... Login to read full