Skip Nav
Travel
The Top 10 Travel Destinations of 2018
Budget Tips
This Hack For Saving $1,000 in a Year Is Genius — and So Simple
Wellness
8 Easy Ways to Instantly Boost Your Self-Confidence

How Much Should You Save For Retirement?

Savvy Solution: How Much Should You Save For Retirement?

As fabulous Savvy readers, you probably know by now that retirement is one of my most talked about topics. Maybe you even have dreams about retirement accounts like I do (sad, but true). Exactly how much should you be aiming to save to be golden in your golden years?

It's a highly personal calculation because of a variety of factors, like the cost of living in your area, whether you have any dependents, and your lifestyle and health. Because we can't predict everything in life and have to consider that inflation will take its toll, right now we can only monitor if you're on the right track with your savings plan.

The general rule is that you save 10 percent of your salary to be financially secure in retirement, but that won't necessarily be enough for everybody. The amount you need to save each year primarily depends on three things: your current age, your income, and how much you've already saved. Assume that you'll need about 80 percent of your pre-retirement income for expenses during retirement.

Total Deposits at Washington Mutual are FDIC insured. Thank you to WaMu for sponsoring this post.

Source

How Can I Retire Early?
2015 Grad Retirement Report
Best Things to Do With Company Retirement Plans
What Kind of Retirement Fund Do I Need?
From Our Partners
Latest Affordable DIY & Organization
All the Latest From Ryan Reynolds