Question by  terireid (32)

What percentage of my income should I save for retirement?

I need to start saving for retirement now.


Answer by  Nurulamin (60)

You should at least 25-30% of your gross income and also depending on the lifestyle which you want to enjoy after retirement. The factor could be more less.


Answer by  MelMel (74)

This depends on your age, but the amount you should save is normally ten to fifteen percent of you income.


Answer by  nicolebrodeur (206)

Most financial experts agree that a good percentage of income to keep in a reserve fund for your future retirement is about twenty to thirty per cent.


Answer by  Chaneygirl (1755)

Idealy, you should save 15%. If you employer matches any of your retirement contributions, at a minimum, contribute enought to get the maximum match.


Answer by  maxwell (289)

If you are young and financially able, just saving 6% of your earnings will add up fast as the years go by. But never take out if possible!


Answer by  tamarawilhite (17883)

If you are under 40 years of age, then you need to save at least 15 percent toward retirement for the rest of your life. If you are over 50, save as much as possible; 25% would be a minimum in that case. If you are under 30, you can afford to save 10% per year.


Answer by  Vladlen (358)

Almost all books on personal finances recommend to save 10% of your income, but it's highly depends on the individual. It's the most important to start saving.


Answer by  KIRAN21 (48)

You should save atleast 50% of your income for your retirememnt,if possible. Nowadays once own children don't take care as they are grown up. The moment they get married they have to look after there family first. U should not get dependent on anyone. This is my opinion.


Answer by  barkley (951)

The percentage you should save depends on your age, income, and expenses. Generally, you should save as much as you can reasonably afford to in order to be best prepared.

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