40 Years Until Retirement

• If you are in your 20s and plan to retire when you are in your 60s, you should be able to safely save 10 to 15 percent of your income and be able to retire comfortably. You can continue to contribute this amount until you retire, if you start and consistently invest from this point on. You can put your investments in a high risk/high yield account and as you near retirement transfer the money into lower risk investments to protect it. You should take advantage of any employer matches you qualify for, using it toward the goal amount you are contributing.
  
  

30 Years Until Retirement

• If you want to retire in 30 years, you will need to increase the amount you are contributing to 15 to 25 percent of your income toward retirement savings. If you have not started saving for retirement yet and you are in your 30s, you should begin saving now at this rate to retire in your 60s. You can still invest the majority of your retirement savings in a high yield fund for now. As you get closer to retirement, begin moving the money over into lower risk funds to protect it.
  
  

20 Years Until Retirement

• If you want to retire in 20 years, you should contribute between 20 and 25 percent of your income, depending on how much money you want to have for your retirement. About half of your money can go into higher risk investments, but within 10 years of retirement your investments should be lower risk so you do not lose them without time for the market to recover. You can divide your retirement contributions between your employer's retirement options and Individual Retirement Accounts. If you have maxed out the amounts you are allowed to contribute, you can buy mutual funds or other investment products and mark them for retirement.
  
  

15 Years or Less Until Retirement

• If you want to retire in 15 years and have not begun saving for retirement, you will need to contribute more than 45 percent of your income to retirement annually. The closer you are to retirement, the more you will need to save in order to retire comfortably. You may need to extend the amount of time you are willing to work if you are not able or willing to put so much of your income to retirement now. You should choose low risk investments, since you cannot afford to lose any money you put toward retirement.