What is the magic number needed for retirement?

The real answer is it depends. Are you going to own your home outright by that point? Will you continue to work part time? Are you going to down size or move to a lower cost of living area? Are your dependents off the payroll? Do you put a large portion of your paycheck towards savings currently?

These are all factors in the magic number. Despite that, the news will always try to pinpoint a number so here is one article that gives it a shot: https://www.cnbc.com/2019/08/11/what-is-the-magic-retirement-number-try-1point7-million.html