When it comes to your money, it’s never to late to start spending. The earlier you start investing money, the more you’ll see in the future. That is if your investments are giving you a positive return. The question you may start to think of is “How much of my money should I actually save?”

Now before we actually get into the numbers, you have to remember that it all depends on how you want to live your retirement. Are you going to want to travel all the time or will you be content lounging around the house all the time? This of course will play a big factor on your money.

Let’s get into the questions you have to ask yourself to figure out how much you should save per month.

How much will you want to make during your retirement?

How old are you today?

Do you want to leave any behind for your family or friends?

These are just a few simple questions you can start to ask yourself. The general rule of thumb is that you should be saving at least ten to fifteen percent of your take home pay. So if you’re making $500 a week, you should be setting aside that $50 in some sort of investment plan that is giving you at least a 5-8% rate on return.

When it comes down to saving your money, you’re going to have to be well disciplined. We wrote an article before on how you should treat your savings like a bill. It’s not too hard to save money, especially if it’s only a hundred dollars a month. This money can add up fast and secure you for a very comfortable retirement.

One thing you have to keep in mind also when saving for retirement is what kind of benefits you’re going to receive and how much your estimated social security payments will be. That’s if it’s still around when you retire.

If you’re looking for a great resource online to determine how much you should save each month in order to retire at a comfortable age, check out http://www.choosetosave.org This website will ask you a few simple questions and will give you a report at the end of the form that’s very easy to read. The best thing about it is it’s free.

In the long run there really isn’t an answer to how much you should save. Some people might only want a few thousand a month while others want millions. It all depends on your lifestyle, spending habits, and hobbies. The rule of thumb as mentioned above is ten to fifteen percent of your take home pay.