dozer183e asks,

Not sure if this is the right board for this, but at least some here should have a thought on this. Interesting article about people tapping into 401(k)s early for emergency matters. http://www.nbcnews.com/business/more-americans-raiding-401-k......
But there is quote about saving for retirement in there:

...Experts also advise that at age 35, you should have at least a year's salary in your 401(k) or IRA. By age 45, three years' salary. And by retirement at age 67, you should have at least eight times your salary socked away.</>

Just wondering what you all thought about that rule of thumb.

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A lot of people use the 4% rule, which means you need a portfolio 25 times the size of your annual retirement withdrawal.

Eight times your salary only works if you can live on 1/3 of your income (plus Social Security and pension.) When I retired back in 1994, I was living on 1/4 of my last year's salary.

intercst