 TITLE: 7 Financial Priorities to Help You Plan CONTENT: 5\\. Save 15% Toward Retirement\n------------------------------\nFinancial experts recommend that you put at least 15% of your gross monthly income toward retirement. So if you earn a $60,000 salary, that's $9,000 each year.\nThat can seem daunting, especially if you're not saving anywhere close to it. One way to make it more feasible is to set up your retirement plan so you increase your contributions at least slightly once a year, so it's not too much of a shock.\nThe good news is that if you're getting a 401(k) contribution match from your employer, that money counts toward your 15% goal. So if you contribute 3% of your salary and your employer gives you another 3%, your savings rate is 6%. And, if you're saving in a 401(k) or traditional IRA, your contributions are made pretax, which reduces your income and thus the taxes you pay on that income.\nAgain, retirement may not seem like a priority for some because it's so far off. But the more you invest early in your adult life, the less you'll have to catch up later. END