In order to retire by age 65 with enough money to have a comparable standard of living to what you have currently, you will need to save the following amounts.
| Your Age |
Percent of Salary to Save from Your Income |
| 20 to 29 |
10% to 15% |
| 20 to 39 |
15% to 25% |
| 40 to 44 |
25% to 35% |
| 45 |
37% |
| 46 |
41% |
| 47 |
44% |
| 48 |
48% |
| 49 |
53% |
| 50 and older |
58% or more |
The sooner you begin planning for retirement, the better off you will be. If you wait too long, you will have to stash away a huge percentage of your income before you retire in order to live comfortably in your golden years.
