Impossible to say.
The amount Justin Bieber would want and the amount you would want are two highly divergent numbers.
Take your current annual expenses and start with that number. Some things will go up - health care, for instance. Some things will go down - entertainment, among others.
Calculate your "expected" life expectancy. Crunch the numbers and you will have only a "rough" approximation.
My mother, 92, now in a nursing home is spending $90,000. a year for her care. 12 months ago, living on her own, the cost was little more than $30,000.
As her doctor now says, my mom could live like this for "years and years". 5 more years, with no increase in costs (which is unrealistic) and you are talking $450,000. at a minimum. How's that for blowing a budget???
Most financial planners say you will need 80% of your working income when retiring. That means savings of 8 times your salary when retiring at 65. Social Security will cover up to 25% of your pre-retirement earnings.
Read this helpful article from Fidelity Investments:
https://www.fidelity.com/viewpoints/reti...
There is no such thing.
It can only be decided if it is a good amount relative to expenses. There is no general sense.
Take your current income.
Multiply by 80%.
Subtract your SSA benefits.
Subtract 3% of your assets (what you could get by investing them).
That's what you want, or more, in your pension.
Foregoing details such as cost of living, etc. In a general sense, what value would be a "decent/good/great" pension amount.
