Let's have a thought experiment. How much do you think you need for retirement a month? $1,000 is a reasonable number if you live frugally. Assuming a withdrawal rate of 4% (more on this later), you would need $300,00 for retirement.
Working: $1,000 a month gives $12,000 a year, which means $300,000 in retirement sum because 4% x $300,000 = $12,000.
How long do you need to save up to $300,000? If I earn $5,000 a month (doing odd jobs and stuff), and spend $1,000 a month for 5 years, you can actually retire in 5 years! According to this post: here.
Actually, it doesn't depend on how much you need, but rather on how much you can save. Let me explain more.
