Thesis statement: A successful retirement consist of establishing goals and estimating income needed, manage debt and then start saving/ investing, because social security alone is not enough to cover needs when retired. Objective for retirement may be- “retire early” or “live comfortable in retirement”, but setting vague goals as such is just the beginning. One has to establish specific goals to estimate accurately the income needed in retirement. By knowing the income needed in retirement, one can figure out how much is needed to save on a regular basis. Goals may include economic security, family, medical, and other things you plan to do in retirement such as vacations, hobbies, and etcetera. Once goals are developed and prioritized, it is now time to estimate how much it will cost. Replacement ratio method and adjusted expense method are commonly used to estimate the cost to survive in retirement. Adjusted expense method is estimating after-tax retirement income needs in current dollars by adjusting current expenses for changes expected n retirement (citing). Replacement ratio method is form estimating after-tax retirement income needs in current dollars by multiplying current expenses by a factor of 70 to 80 percent (citing). The amount from the replacement ratio method or the adjusted expense method should be adjusted for inflation between now and retirement to arrive at your total income needs in the first year of retirement. The formula used is: Expected expense at retirement=current expense x 1.04 (N), where N is the number of years to retire (citing). Establishing goals and estimating how much income is needed will disclose that social security alone is not enough in retirement.