60-second lesson: How much can you save?


Olde Hornet

Well-Known Member
https://retirementplans.vanguard.com/VGApp/pe/edufreshness/60secondlesson_save#/

60-second lesson: How much can you save?

You can save up to $18,000 to your employer-sponsored retirement plan in 2017 if you are under age 50. Those who will be 50 or older at the end of the year can save an additional $6,000 in “catch-up contributions,” for a maximum of $24,000.

How much should you save?

Vanguard suggests you save 12% to 15% of your pay for retirement, including any contributions your employer might make.

Don’t stress if you’re saving less. Most of us do.* But if you want to narrow the gap, research suggests the most effective way is to sign up for automatic savings increases, if you can.
 
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