First of all, I realize that this is a very open-ended and loaded question, but I'm gonna ask anyway. When to retire, and what type of lifestyle that people want in retirement is probably the biggest factor. Is there a rule of thumb that apply to the average working class, Bose-buying Joe regarding savings as a percentage of his net income? (assuming he retires at 60, lives to 85, and maintains the same standard of living) I've heard it should be at least 10% I look around and see kids with cell phones, new grads with shiny cars, 40K SUVs everywhere, and housing prices going through the roof. Are we spending more than we make? Is this wealth a reality or an illusion?