 TITLE: How Much Should I Save for Retirement? CONTENT: Contribute to a Retirement Plan Early\n-------------------------------------\nThe sooner you start saving for retirement, the better because it gives your investments more time to grow. Again, how much you need to be saving depends on your retirement goals. But as a rule of thumb, Fidelity Investments suggests having the following saved at different age milestones along the way:\n*   **Age 30**: 1X your salary\n*   **Age 35**: 2X your salary\n*   **Age 40**: 3X your salary\n*   **Age 45**: 4X your salary\n*   **Age 50**: 6X your salary\n*   **Age 55**: 7X your salary\n*   **Age 60**: 8X your salary\n*   **Age 67**: 10X your salary\nAs you consider how much to save, take some time to consider the different retirement options. For example, a 401(k) plan is an employer-sponsored retirement plan that allows you to save through automatic deductions from your paycheck.\nIn some cases, your employer may even match some or all of your monthly contributions to your account, directly increasing your savings rate. Those contributions won't be included in your gross income when you file your tax return.\nAnother option is an IRA, which is a self-directed investment account. With a traditional IRA, you may be able to deduct the contributions you make from your taxable income, but you'll pay taxes later when you take withdrawals from the account.\nWith a Roth IRA, on the other hand, you'll be taxed on the contributions you make right now, but you'll be able to take tax-free withdrawals in retirement.\nAs you establish your retirement savings strategy, research the different savings options and choose the best ones for your situation. END