Wise sages of 2+2 -- How much should one have saved before retiring?

[Henry17]

$400k though would allow you to live in perpetuity assuming you qualify for full CPP. If too young to get full CPP then you'd need about $600k

[PokerPaul]

OK then, lets say you are 40 years old, and have about 150k saved up already.

otherwise all the above mentioned points apply.

[mtgordon]

So if you want to spend around 45k/year, you can break even with inflation (assume your 18k goes up per year with inflation as well), you're 40 and plan on living until you're 100, you need about 2.75M in todays dollars according to my calculations. I'm not sure why I'm off so much from everyone else though so I could be wrong.

Maybe they assumed you can beat inflation with your money. If you can beat inflation by 5% then you only need around 850k todays money according to my calcs.

[Henry17]

Assuming 8% return on investment you'd need less the $600k. You might be ok with $500k. I'm not sure what effect taking 15-25 years off would have on your CPP but you'd avoid worrying about it and just go with $600k

[mtgordon]

Henry: You're talking 8% on top of inflation right?