You should put away at leasy 10% of everything you make. How much you will need will depend on when you retire.
There are too many variables and unknown factors.
The amount you will need in retirement depends on your goals and needs in retirement. Whether you want to retire, how much your monthly expenses are, whether you want to leave something for your grandchildren- All these are factor you must consider.
I worked for Gemco and would like to know If I have retirement money due to me.
Smart money at www.smartmoney.com has an excellent retirement planning worksheet. This helps you see how much you need to save and how to budget for expenditures.
In order to find out how much money that you need to invest in retirement so you can have a good sized amount saved, you must actually attempt to do the math yourself, ask a financial advisor, or actually try to use the Fers retirement calculator.
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It will depend on how much you worked. Retirement disability benefits are based on how much you worked and how much money you made over time.
If you speak to someone at you local bank they can help you determine how much money you will need to save for retirement. They can also help you set up an account to reach your savings goal.
15,400
How much you should save for retirement depends on a lot of factors such as how much income do you want in retirement and will you have other sources of income in retirement such as pensions or part-time employment. Tax considerations and planned charitable giving should also be considerations. A number of finance websites offer retirement planning calculators. Yahoo offers this "How Much Will I Need To Save For Retirement?" calculator (can be found at http://finance.yahoo.com/calculator/retirement/ret02) which may be a good starting point.
People use retirement planning calculators at a pensionable age to determine if their pension will be enough to take care of them after retirement. It helps determine how much money they need to survive in addition to their pension.