One of the most commonly discussed topics in personal finance is knowing how much you need to save for retirement. Many news articles give specific numbers, with $1 million being a very common target. Those articles are meant to frighten: You need at least a million, they say, and the average person nearing retirement has saved only a fraction of that!
The trouble with target savings numbers is that they are typically aimed at a mass audience. Some individuals in the audience may need less than recommended for a comfortable retirement. Or, conversely, others may need much more. The amount you need for your dream retirement depends on a great number of factors that are specific to your unique financial situation.
