Here's How Much Money You Should Have Saved at Every Phase of Life

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iStock

It's hard to make saving for retirement a priority when you just started building a career or a family. But if you don't plan on working well into old age, starting on your retirement fund early is essential. Not sure where to begin? CNBC recently spoke to a money expert from Intuit and shared the savings goals you should be striving toward in each phase of life.

When you're in your twenties and just getting established in your chosen field, you ideally should be setting aside a quarter of your paycheck. Of course, this isn't a possibility for every 20-something living off entry-level wages and struggling with student loan debt. If the 25 percent mark isn't feasible for you right now, determine a percentage that is. When you're just starting out, how much you're saving is less important than the fact that you're saving at all.

After sticking to this plan, hopefully you'll have saved up the equivalent of your annual salary by age 30. (So if you make $65,000 a year, you'll have $65,000 in the bank.) By 40, this nest egg should grow to three times your salary. You should have five times saved by age 50, and seven times set aside by age 60.

When you're finally ready to retire around age 67, if you've saved consistently, you'll have 10 times what your annual salary was to support you in your later years. That may seem like an overwhelming goal, but keep in mind that doesn't just include the money you transferred to a regular savings account. Your retirement fund is the sum of your IRA and 401(k), including any matching funds you received from your employer. And the earlier you started saving, the more compound interest you will have accrued by retirement age.

Even if you're living paycheck-to-paycheck, there's still room in your life to develop smart money habits. Here are some tips you can use to start building a retirement account today.

[h/t CNBC]

Amazon's Under-the-Radar Coupon Page Features Deals on Home Goods, Electronics, and Groceries

Stock Catalog, Flickr // CC BY 2.0
Stock Catalog, Flickr // CC BY 2.0

This article contains affiliate links to products selected by our editors. Mental Floss may receive a commission for purchases made through these links.

Now that Prime Day is over, and with Black Friday and Cyber Monday still a few weeks away, online deals may seem harder to come by. And while it can be a hassle to scour the internet for promo codes, buy-one-get-one deals, and flash sales, Amazon actually has an extensive coupon page you might not know about that features deals to look through every day.

As pointed out by People, the coupon page breaks deals down by categories, like electronics, home & kitchen, and groceries (the coupons even work with SNAP benefits). Since most of the deals revolve around the essentials, it's easy to stock up on items like Cottonelle toilet paper, Tide Pods, Cascade dishwasher detergent, and a 50 pack of surgical masks whenever you're running low.

But the low prices don't just stop at necessities. If you’re looking for the best deal on headphones, all you have to do is go to the electronics coupon page and it will bring up a deal on these COWIN E7 PRO noise-canceling headphones, which are now $80, thanks to a $10 coupon you could have missed.

Alternatively, if you are looking for deals on specific brands, you can search for their coupons from the page. So if you've had your eye on the Homall S-Racer gaming chair, you’ll find there's currently a coupon that saves you 5 percent, thanks to a simple search.

To discover all the deals you have been missing out on, head over to the Amazon Coupons page.

Sign Up Today: Get exclusive deals, product news, reviews, and more with the Mental Floss Smart Shopping newsletter!

Amazon's Under-the-Radar Coupon Page Features Deals on Home Goods, Electronics, and Groceries

Stock Catalog, Flickr // CC BY 2.0
Stock Catalog, Flickr // CC BY 2.0

This article contains affiliate links to products selected by our editors. Mental Floss may receive a commission for purchases made through these links.

Now that Prime Day is over, and with Black Friday and Cyber Monday still a few weeks away, online deals may seem harder to come by. And while it can be a hassle to scour the internet for promo codes, buy-one-get-one deals, and flash sales, Amazon actually has an extensive coupon page you might not know about that features deals to look through every day.

As pointed out by People, the coupon page breaks deals down by categories, like electronics, home & kitchen, and groceries (the coupons even work with SNAP benefits). Since most of the deals revolve around the essentials, it's easy to stock up on items like Cottonelle toilet paper, Tide Pods, Cascade dishwasher detergent, and a 50 pack of surgical masks whenever you're running low.

But the low prices don't just stop at necessities. If you’re looking for the best deal on headphones, all you have to do is go to the electronics coupon page and it will bring up a deal on these COWIN E7 PRO noise-canceling headphones, which are now $80, thanks to a $10 coupon you could have missed.

Alternatively, if you are looking for deals on specific brands, you can search for their coupons from the page. So if you've had your eye on the Homall S-Racer gaming chair, you’ll find there's currently a coupon that saves you 5 percent, thanks to a simple search.

To discover all the deals you have been missing out on, head over to the Amazon Coupons page.

Sign Up Today: Get exclusive deals, product news, reviews, and more with the Mental Floss Smart Shopping newsletter!