Financial advisors encourage those entering the workforce out of school to save 10-15 percent of their salary for retirement. Any less could lead to regrets. Any more could strain your budget. Starting young goes a long way to keeping this process manageable.
But how do you know what percentage is right for you if your goal is to be a millionaire by the time you retire?
Fortunately, the experts at NerdWallet have crunched the numbers.
CNBC has more:
Just a few things to remember: These numbers assume you have no money in your retirement plan, that you will get a 6% return on your investments and that you will retire at age 65.
The math also does not account for potential pay increases, employer matches, inflation or any curveballs life may throw at you. So plan accordingly.