There are many calculators to help you decide, because depending on your age and your expenses will vary the amount provided. Another thing you should consider is the inflation of the money because a dollar today is 97 cents in a year (assuming 3%). Many experts suggest you save 10% of your salary for retirement, but even if your company has a plan equals (Matching Program, such as 401k or TSP). At the very least you should save the amount your company will match, and will give you twice what you put (as long as Dures the last time you have to work for the company.) Check the person’s retirement plan your company to see what suits you.
If you have no retirement plan at work, open a Roth IRA (individual retirement account) and contributes 10% of your gross salary to this account. If I miss you these retiring, could contribute twice in order to accumulate more money for retirement. The goal would be to have enough money in these accounts can withdraw only the interest it generates in income to supplement your pension.
For example, if your monthly expenses are $ 2,000 dollars and you will receive $ 1.200 dollars of pension, you should have money in retirement accounts to be able to withdraw $ 9.600 dollars per year. If 5% is $ 9.600 dollars, you should have about $ 200,000 in a retirement account that earns you 5% a year in interest. If you have 30 years to have $ 200,000 in an account just have to save about $ 150 a month (8% annual return for 30 years, $ 223,000) to withdraw $ 800 a month when you retire.
Try to get to retirement with no debt.
If you have debts, you take your golden years more thoroughly. The plan not only save for retirement, but make sure that all debts, including mortgage is paid off before retiring. This way you can use all the income you have on travel, dining, dance, painting, etc. To live well in the future, you have to sacrifice a little of this.
Try to have investments that will generate passive income.
Passive income is the money that does not require your move a finger to be built (of course after making the investment). While working and you are in your age before retiring, spent part of your income to invest in real estate, business, etc. that will generate income when you retire. Buying apartments (though you sacrifice), plans a business, lends money (beware of deadbeats) or find someone to do it for you (reliable) to help you make money by magic, this often happens if you have money you can devote to this, so it is very important savings.