What percentage of income should you save for retirement?

Most financial experts recommend saving 10% to 15% of your gross income for retirement. However, the right amount depends on factors like when you start saving, your desired retirement lifestyle, and whether you have employer matching contributions. If you start later in life, you may need to save 20% or more to catch up. A common guideline is to aim to replace about 70% to 80% of your pre-retirement income annually once retired. Social Security typically covers part of that, so personal savings need to fill the gap. Starting early and taking full advantage of employer 401k matches and tax-advantaged accounts like IRAs can make reaching your goal significantly easier.