This time of the year is always a good time to re-evaluate how much you’re saving for retirement. Consumer Reports has come up with this new tool to make it so much easier.
Simply look at this chart below and find the age closest to yours in the left-hand column. Then multiply your current income by the ratio in the right-hand column. If your actual savings equals or exceeds the result you are right on track.
According to the Consumer Reports financial adviser, "Most people need a nest egg that's 12 times their pre-retirement income to call it quits at age 65 and live comfortably on 80 percent of their former salary."
| Your Age | Capital to Income Ratio |
| 25 | 0.1 |
| 30 | 0.6 |
| 35 | 1.4 |
| 40 | 2.4 |
| 45 | 3.7 |
| 50 | 5.2 |
| 55 | 7.1 |
| 60 | 9.4 |
| 65 | 12.0 |
