---
title: How Much of My Income Should I Save For Retirement?
description: '"As much as you can" is the standard advice. Many financial planners recommend that you save 10% to 15% of your income for retirement, starting in your 20s.'
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published: '2014-05-20T19:21:41.000Z'
modified: '2024-04-14T08:49:08.000Z'
section: Retirement
tags:
  - Retirement
  - retirement planning
  - retirement savings
  - saving for retirement
canonical: https://money.com/collection-post/how-much-income-to-save-for-retirement/
type: Article
source: structured-blocks
---

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![How Much of My Income Should I Save For Retirement?](https://money.com/img/logo-social.png)

"As much as you can" is the standard advice. Many financial planners recommend that you save 10% to 15% of your income for retirement, starting in your [20s](https://money.com/collection-post/retirement-moves-20s-30s/).

But that's just a [general guideline](https://money.com/collection-post/how-much-to-save-for-retirement/). This is your retirement we're talking about, so it pays to get a little more specific. It's a good idea to establish a savings target — one that tells you roughly how much you should set aside over time to meet your [retirement goals](https://money.com/collection-post/how-to-invest-retirement-money/).

As a general rule, you'll need at least $15 to $20 in savings to cover each dollar of the annual shortfall between your income and your expenses. For example, if your projected retirement expenses exceed Social Security and pensions by $20,000 a year, you might need a nest egg of $300,000 to $400,000 to bridge the gap.

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