Calculate how much savings you should already have
 

Here’s a more precise way to calculate how much you should already have in savings based on your current age and current income. This method is taken from JP Morgan Asset Management’s Guide to Retirement 2014.

Calculate How Much Savings You Should Already Have | Salary.sg - Your Salary in Singapore

Hey, it is uncanny how they arrived at such correlation. Very interesting.

I checked the numbers for my wife and myself and found the numbers a little on the low side so I am not sure if it was because they didn't factor in property values? Because when I take away our property value, the numbers provided by the model were uncannily close to what we have, with just a few hundred $K off (lower than what we currently have). Again I supposed the model did not factor in capital gains from investment.