How much you need to save per month to retire at 45 with $35,000 in passive income

If you go by Social Security guidelines, everyone born after 1960 should wait until at least 67 to retire.

But that mostly matters when it comes to benefits.

You can retire from your job as soon as you find a way to replace the income it provides, or at least produce enough income to fund your lifestyle.

Luckily, if you can invest enough in savings now, you can pay for your retirement by living off returns.     

CNBC crunched the numbers, and we can tell you how much you need to save now to safely get $35,000 of passive income every year in retirement. 

First, some ground rules. The numbers assume you will retire at 45, have no money in savings now and plan to put away a substantial amount of income to reach your goal. 

For investing, we assume an annual 4% return when you are saving. We do not factor in inflation, taxes or any additional income you may get from Social Security and your 401(k).

In retirement, we use the "4% rule," which is a general principle that says you can comfortably withdraw 4% of your portfolio every year. 

It is important to note that with the recent market volatility, there is a risk you'll have to lower your spending percentage in the future.

Check out this video to get a full breakdown of the numbers.

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

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