Advisors often recommend a rate of saving around 10 to 15%, but it also depends on your level of income and spending, your age, your retirement goals, and so on. If your employer offers a matching contribution to your 401k plan, make sure to take advantage of that. A good way to figure out how much to save is to find out how much you will need to retire. Using the 4% rule, you can divide your projected annual spending by 4% to find the total amount you need to accumulate for retirement. From there, you can look at your average return on investments and the number of years you have left before retirement to calculate a saving rate.
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