This depends on your lifestyle. If you plan to move away or emigrate then a large retirement fund is a good plan but if you just want to settle down where you already live then you would not need as big a fund.
There are a lot of different ways to save for retirement. 401k funds, IRA funds, for example. A good starting point for research is here: http://www.dol.gov/ebsa/publications/10_ways_to_prepare.html
Either option is actually fine for a retirement account. Both options will offer you options for creating a retirement account to help you save funds for retirement.
A good tax consequence of a 401k retirement plan is that you can literally save money as the funds that are ususally tax-free. If you withdraw from your 401k plan, there is usually a large penalty.
One can start saving for retirement mutual funds by coming up with a plan on how to manage the money between retirement savings and the necessities one wants to buy. One can also contact their bank for rates and plans that are offered.
A benefit of 401ks are the ability to save money for retirement. A drawback is the funds are not available for your immediate use.
There are many online saving retirement calculators. These calculators tell you how much you need to save, how much more you need, when you can retire, and how your net worth compares. This is useful for those wanting to be prepared for their retirement and have a good amount of savings to live on.
A simple IRA is a very good way to save for retirement. This is because you will be putting money away, and saving it for a time when you could run into an emergency.
An early retirement calculator looks at information such as current age, years to retirement,income and savings to help you determine the amount you will need to retire. In short, it helps you determine the amount you need to save in order to reach your retirement goals.
Most companies offer 401(k) investment plans as a service to their employees who wish to save for retirement. Employees contribute a percentage from each paycheck into a 401(k), and watch their savings for the future grow. Most companies also offer free money in the form of matching funds. For example, if the company offers a 3% match, the employee contributes 3% and automatically earns a free 3% match. Employees can contribute more than the matched amount. Take advantage of matching funds for quicker retirement savings.
The best available target retirement fund is different for everyone depending on needs and time-frame available. It is worthwhile because it will save you a lot of money.
If you are looking to retire comfortably within the next 20 years or so, you need to start saving about $2000 per month. This will give you the leverage needed for retirement.
Start saving early and consistently. Consider diversifying your investments to manage risk. Take advantage of employer-sponsored retirement plans and contribute as much as you can. Regularly review and adjust your retirement plan as needed.