I saw an interesting commercial by ING tonight while watching a program on Warren Buffet and Bill Gates.
The ING commercial has a guy carrying his number (amount he needs for retirement) while talking to a neighborhood guy whose number was a GAZILLION. The point was that not everybody knows what they are going to need in retirement to meet their life style expectations. The commercial goes on to announce a simple ING website that you can use to determine your number.
The site is INGYOURNUMBER. I went to the site and in less than two minutes it gave my "number" as $2,311,839. This number was based on my desire to have $58,000 a year in household income that will last from the age of 51 until 90. This $58k was in addition to the pension I expect to receive from the Navy, assuming I only get only one more promotion.
Previously, I had the expectation for my number to be somewhere between $1.7 and $2 million. So, $2.3 million is not much of a surprise. My number will drop to something closer to $1.7 million if I get two more promotions and retire as an O-6 (Navy Captain = Colonel other services).
Link to INGYOURNUMBER.