Planning so that you can afford retirement entails several steps. There are software packages and people that can help you with this but here we will provide a step-by-step guide that should help give you a rough estimate of the amount of money you will need to support your lifestyle.
The Steps Are:
Figure Out What You Spend Now
Make An Accounting of Your Assets and Liabilities
Figure Out What Your Lifestyle Will Cost in the Future
Solve For How Much You Need To Save or Earn Each Year