A question I often get is, "how much should I be saving?" Here's the answer. If you can do it, you'll be fine financially. It's not for the faint of hear though. Are you ready? Save half your age. In other words, the percentage you should save is 1/2 your age. If you are 24, try to save 12%. If you are 30, 15%. If you are 50, 25%, etc.

When you are younger and just getting started, you don't have to save as much. As you get older and start making more, your savings requirement increases. Once you hit retirement, you'll have plenty of money stashed away if you follow this advice.