8 rules of thumb on saving and retirement
How much should you save?
The rule of thumb: You should always save at least 10 percent of your income toward your retirement.
Why it works: The rule gives a memorable target. Depending on how early you start, saving 10 percent could provide a solid retirement nest egg.
Grain of salt: Keeping the same target throughout your life ignores how much financial situations and expenses fluctuate throughout lifetimes. You may need to fluctuate depending on your expenses during different stages of life.