Sometimes savings is directly related to funding a specific retirement income goal (an amount per year for some number of years). More often I think we save without knowing how much to save. The problem with retirement is that we don't know how long we'll live, and we don't know if and when we might be faced with a large expense (likely medical). So we spend cautiously. That's not a problem if we are truly enjoying our lives, or we have a goal to leave an inheritance. My sense is that many people don't have a good perspective on their spending guidelines. The point isn't to spend it all and then die. Conversely, it also isn't to save it all then die. My advice.... go get guidelines on how much discretionary spending you have. Guidelines should provide you reasonable probabilities for discretionary spending amounts in retirement that considers longevity and medical variables. You can still determine how much to save and how much to spend. But, importantly you'll have an idea of where you stand.