How much money do you need to retire? And when should you start to save?

Many people look forward to retirement. You can do all the things you never had time to do because of work and other obligations. Retirement is not as easy as sitting by the pool or taking a stroll along the beach. It can take years of preparation and saving to make sure you can have a comfortable and secure post-retirement lifestyle. It’s never too early to start putting away money, even a little. You’ll thank yourself later.

How much money do you need to retire?

There is no exact, set-in-stone number anyone should have to retire; it all depends on the individual. When you’re planning for retirement, there are several questions you have to ask to know how much is enough for you, according to Shweta Lawande, lead adviser at Francis Financial in New York City, which offers financial planning, wealth management and other services These include: When do you plan to retire? What are your expenses now compared with what you want them to be in retirement? What are you currently doing to save for retirement? “For anyone who’s contemplating (how much you need to retire), especially the ones who are nearing that retirement age, I cannot recommend enough working with a financial adviser to create a custom plan for saving and spending in retirement,” Lawande said. But if you want a more immediate and concrete idea, there are a few good estimates of how much you may need, such as assuming you’ll need about 80% of your  pre-retirement income in retirement, Lawande said. Pre-retirement is considered the period when you decide you want to retire and pick your retirement date.