Ideally, you'd have enough money set aside in savings and retirement accounts to cover your living expenses, medical costs, and more between the time you stop working and start taking Social Security payments.If you have lots of money leftover after paying bills, saving for other goals, and having automatic transfers made to 401s and IRAs, you may not be saving enough.
Most experts suggest saving about 15% of income for retirement, including any employer match in a 401. And while retirement accounts and automatic transfers are easy to set up, they can also be easy to forget about. Increasing your contributions each year is a good habit to get into, and some accounts offer automatic increases each year. But, if you still notice lots of extra cash leftover, saving and investing that money now can help make ends meet later.