Am I saving enough for retirement? How much will I need and how much should I save now?

A general rule of thumb is that people should save 10-15% of their income each year, starting at an early age (for example in the mid-20’s), in order to be sufficiently prepared for retirement. If you start later, you may need to save more to catch-up. A rule of thumb can be a good place to start, but WealthStep’s advice engine gathers information from you about your retirement goals and then recommends a savings level that should improve your retirement readiness, rather than relying on a rule of thumb.