 TITLE: 6 Ways to Save for Retirement When You’re Self-Employed CONTENT: How Much Money You Should Have Saved at Every Age\n-------------------------------------------------\nAre you on track to have enough saved for retirement? Since expenses generally decline in retirement, investment company Fidelity suggests your nest egg should be able to replace 45% of your pre-retirement income. However, according to the National Institute on Retirement Security reports, Social Security only replaces about 40% of your pre-retirement income. Some experts even recommend saving enough to cover 70% to 90% of your preretirement income.\nIn general, here's what Fidelity recommends you should have saved at every age:\n*   By age 30: The equivalent of your current annual salary\n*   By age 40: Three times your annual salary\n*   By age 50: Six times your annual salary\n*   By age 60: Eight times your annual salary\n*   By age 67 (the age at which you can start collecting full Social Security benefits): 10 times your annual salary\nFidelity also advises putting 15% of your gross annual income into retirement savings and investing half of that savings in stocks. Depending on your age, when you hope to retire and your desired retirement lifestyle, you may need to save more or less than the standard recommendations. For example, if you're 40 years old or older, consider upping your contribution to 20% of your gross annual income. END