If you're looking for advice on how to retire sooner, richer, or at all, there's certainly no shortage of it out there. During the decades that personal savings rather than pensions became people's top source of retirement income, plenty of lessons were learned and then passed along to others.

Not every one of these rules, however, has withstood the test of time. Namely, saving the long-suggested 10% of your earnings in a retirement fund isn't going to cut it any longer, even if this money's growth beats the market. With most people now living longer lives than they typically did just thirty years ago, you'll want to do whatever it takes to tuck away 20% of your total income if you want to maintain your current standard of living. You'll possibly be retired for 20 or more years, after all.

The suggested number can vary from one source to the next. While older people still in their working years (40+) may have heard 10% is the magic number, younger workers (25 to 40) may have heard a figure of 15%.

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Source Fool.com