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1. Start Now
Two factors determine your future savings: the amount of money you put away today and how long it has to grow. The earlier you start, the less you need to set aside, as you can see in these retirement fund scenarios:
Age When You Start Saving
Age 25
If your annual salary is $40,000: 15%
If your annual salary is $65,000: 9%
Age 40
If your annual salary is $40,000: >25%
If your annual salary is $65,000: 11.4%
Age 55
If your annual salary is $40,000: >25%
If your annual salary is $65,000: >25%
From Employee Benefit Research Institute
