Well obviously that depends on many factors - age, spending, other income, whether that's for a couple or single person, health etc. I'm at an age now where retirement planning is coming into focus - I'm roughly half way through my working life and I feel the need to make sure I'm covered for the years ahead. I find all the calculators on the various providers websites all give different results and are very much focused on the tax savings of your inputs as opposed to what output at retirement will be. I've been reading about many different approaches to retirement planning from the mainstream to the extreme (Mr Money Moustache and Early Retirement Extreme.) The one thing that struck me about the more extreme end of the planning range was that they were very focused on the actual amount you had put away and what your spending was, as opposed to tax reliefs (they were important but not the main point.) By focusing on getting a certain amount saved in retirement, it concentrates the mind to have a target to aim for. With the state pension age likely to be 68 by the time I retire, retiring before then will cause an income shortfall. How can you bridge that unless you have a plan...? I came across a very simple excel spreadsheet that I feel simplifies the planning process and can give an indication of how long it will be before you hit a target fund that will pay sufficient income on draw down. In my own workings, I kept inflation at 0% and increased contributions at 0% to attempt to keep my calculations in today's money terms. https://moneyfortherestofus.net/mny013-saving-enough/ By at least having an end goal, you can adjust your monthly payments to try and achieve that target amount. Regular checking of your fund performance can then be done to amend your starting position to see how much adjustment is needed. By making the target fund as your goal you at least have something to aim for, as opposed to just taking the tax reliefs and hoping that what you are putting in will be sufficient. Is €500,000 enough to retire on....? Well if you want an income of c€20,000 pa (or c€15,000 if you take the €125,000 tax free lump sum) it may come close,in addition to the state pension if it still exists then, plus income your partner may have. You may have property or other income producing assets. Will that bridge the gap between retiring at say 62 and waiting until 68 for the state pension. Maybe €250,000 or €750,000 would suit you....but by focusing on the amount, you at least start the journey to achieving it.