According to one popular rule of thumb, retirees should be able to withdraw 4% from their retirement accounts every year to live comfortably and not run out of money.

Another number you might have seen floating around social media is $75,000, which, according to some experts, is where annual income and peak happiness intersect. 

Many other retirees have their own number in their head that they want to "hit" before they stop working. 

But do any of these figures really equal "enough" in retirement? 

More than any dollar amount, having "enough" to retire is about feeling confident that every piece of your financial plan is aligned to sustain your Return on Life for decades to come. Start making your own calculations by thinking about these four key categories. 

1. Your needs. 

It's always a good idea to review your annual and monthly budgets at least once per year. But it's especially important to study how and why you're spending money as you prepare to transition to a fixed income. Put everything from housing and transportation to groceries and entertainment under your microscope. And if you're a new retiree, don't forget to include the cost of your health care premiums, whether you're moving to Medicare or purchasing your own coverage until you turn 65. 

You'll probably find some ways to economize, like cancelling extra streaming subscriptions or spending less on lunch and clothing now that you're no longer working. Other areas of your budget might go up, such as out-of-pocket health care charges or cost-of-living adjustments if you're planning to move to a different state. 

2. Your goals.

While many people focus on big-ticket retirement goals, like dream vacations or moving, don't overlook how you'd like to maximize the day-to-day experience of retirement. Planning a trip to Rome and membership fees at your country club both require planning and budgeting. 

Married couples should also talk about how they're expecting their nest egg to support them separately and individually. If a nest egg can't support both her ski trips and the fishing boat he's been dreaming about for years, compromises have to be made. The sooner couples get on the same page about retirement goals, the better their chances of long-term financial security and happiness. 

3. Your values. 

Many retirees find that having "enough" money to spend how and when they want is ultimately less fulfilling than spending with real intention. For example, taking an extra vacation on your own might end up feeling like more of a hassle than it was worth. But organizing a big, multigenerational vacation ties your money to how much you value time with your family. Likewise, creating a sustained charitable giving plan can deepen your connection to causes that matter to you and your community. 

4. Your margin for error. 

Hopefully, as you’ve worked, saved, and invested towards retirement, you’ve grown comfortable with how your financial plan accounts for economic volatility. But once you’re living off those assets instead of topping them off with part of your monthly paycheck, every bounce in the market can feel a little scarier. 

You might also feel a little less prepared for unexpected surprises in retirement, from a new grandkid whose education you’d like to support with a 529 account to an unexpected illness. 

As part of my comprehensive Life-Centered Planning process, I help folks build out contingency plans so that they have options to take advantage of opportunities and weather challenges. I also use interactive Retirement Coaching tools to help retirees gain a clearer understanding of what retirement will be like.