What will you have?

Your income in retirement will most likely come from three sources.

Your social security benefits

Each year the Social Security Administration sends you an estimate of your retirement benefits. The average yearly check is about $11,000...not enough to count on for your total retirement income. Given the status of social security at this moment you may not even be able to count on that amount.

Your pension

Ask your HR department at work for pension details (if you are one of the 20% of workers blessed to work for a company that offers one — fewer and fewer companies offer this option anymore) and how much you currently have invested. And these days most of us do not work long enough in one place to actually accrue enough in pension benefits.

Your savings

Total all your 401k's, IRA and other savings that you will have at retirement.

Now project how much the first two will be when you retire and then add that total to 4% of your savings (what you can safely take out of your retirement savings annually) and you have an estimate of your yearly retirement income.

There are online calculators that can help you figure out what your income might be.