Seems far off now at 20 years of age, but let's say you plan to retire at age 60. You conclude that you need $3,250,000 to retire at 60 years of age and will live off of this until age 95. How much do you need to put away each paycheck during your working years into your 401K to fully fund your retirement? Assume an 8% average annual market rate of return. Further assume that you are paid twice per month. Do not worry about tax implications, inflation or investment opportunities during retirement.