I had a client in yesterday who asked me how much money he would need to retire comfortably. It’s probably one of the more common questions which people ask their financial advisor and each of us has a different way of handling the process. For years my answer has revolved around quantifying goals and having a savings/investment plan to reach those goals. Depending on the success of the client over time to meet their savings goals, combined with any help offered by the market, we continuously amend the retirement goals and go from there. I’ve always been half comfortable with this system. The upside is that it encourages people to save and invest, and that can never hurt. The downside is that retirement is a very subjective goal and it’s very difficult to define its price decades in advance. So I’ve decided to change my approach to something which strikes me as a better solution for most people.