Most of us realize that we need to save and invest for retirement, because Social Security alone isn't likely to support us sufficiently. (Indeed, the average monthly Social Security retirement benefit was just $1,845 as of November 2023 -- amounting to just $22,000 annually.)

But how much should you be socking away for your future? One common rule of thumb has been to save 10% of your income. That's a nice round number, but it's not the optimal number for many of us.

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Source Fool.com