Journee plans to retire with an annual income of $⁢40,000 , which is 60% of her current salary. According to the 4% rule, what is the minimum amount she should have saved by the time she retires?

Under the 4% rule, the annual retirement income is 4% of the amount saved. Divide $40,000 by 0.04: $40,000 ÷ 0.04 = $1,000,000. Journee should have at least $1,000,000 saved; the 60% figure does not change this calculation.

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