Just getting started? Save what you can
If retirement is decades away, setting a specific goal amount is probably unnecessary. For now, focus on:
- Immediately saving at least enough to get the full match offered by your employer plan, if you have one. This is free money—don't let it pass you by.
- Working your way up to 12%–15% of your pay, including any employer match. For example, you could increase your savings rate 1% every year until you reach your target rate. This should get you in the ballpark of what you'll need.