Date: Sun, 6 May 2007 17:00:32 -0500
From: rick++ 
Newsgroups: misc.invest.financial-plan
Subject: Re: Opinion?-80% of salary for retirement.
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80% is fairly close.  77% is parity if you discount the 15% you
should be saving for retirement and the 7.65% tax you
pay for social security.

If a person has significant additional job
expenses like commuting and work clothes, they would cut the number.
But you might increase hobby and travel in early retirment.
Plus medicare may not pay
as well as the average employer health insurance plan.

>From that 77% you have to subtract social security which may be
25% to 50% of your income, pensions if any, etc.
Thus the average wage earner need to replace about 40% of income.