It's generally recommended to put away at least 15% of your income each year for retirement.*

Things to consider

With so many other pressing financial needs and concerns, it’s easy for something that seems so far off into the future—like retirement—to take a back seat. But the sooner you begin saving, the easier it is to reach your goals.

Planning is personal

No two retirements are alike. How you want to live and where you plan to go will ultimately determine how much you need to save.

Tax-deferred vs tax-free

Whether you should defer taxes on your retirement savings until you retire or pay taxes up front depends on a number of factors.

Consider your time horizon and risk tolerance

The further your retirement time horizon, the more investment risk you may consider taking on to grow your savings and outpace inflation.

Put away any windfalls

One-time cash events like bonuses, tax refunds, and inheritances provide a great way to boost your retirement savings.

*Investopedia. "Average Retirement Savings by Age Group." March 30, 2022

What to ask your Financial Advisor

How much will I need to save to meet my retirement goals?
How many years should I plan for my retirement savings to last?
Am I on track to meet my goals? If not, what can I do to catch up?
What should my retirement savings strategy be when considering my company plan and/or my IRA(s)?

Talk to a Janney Financial Advisor

You don’t have to navigate your financial journey alone. Wherever you are today, a Janney Financial Advisor can help you create a personalized plan aligned with your goals, priorities, and evolving needs. With thoughtful guidance and strategies tailored to your unique circumstances, we’ll work with you to build a plan designed to help you Plan for More™ — today and in the years ahead.

Connect with an Advisor