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Assuming 4 outs on the turn:

You've seen 6 cards so far (your two, and the four community cards), so with 4 outs, you know the other 42 cards are bad. So the odds of you making your hand are 42:4 or 10.5:1. Good.

So, assuming you are facing one bet to go, yes, you'd need the pot (including the bet you're facing) to contain 10.5 times the amount you're facing, or $5.25.

One major consideration though is if you're not last to act, you need to weigh in the chance that you think anyone left to act will raise.

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If they do raise, does that change my actions? If so, please explain. I am having a hard time getting my mind around some of this stuff. Thanks!