What I tell my son (he's 20) is when he get his first "career" position, whatever the starting annual pay is ($30K, $50K, $80K, whatever), pretend that it is at least 6% less and that is what you live on (the remaining 94%). The 6% goes into retirement savings and you don't think about ever touching it until you retire. If you are fortunate enough to get employed by someone who does some sort of match on more than 6%, then do whatever percentage is the max for matching, otherwise you are just refusing extra money. Then every time you get a raise, add another 1% to your annual retirement savings. Save as much as you can (at least 6%), as early as you can. I think there are too many people who don't have a grasp on how money grows over time in an appropriately balanced portfolio (heavier equity weighted at a younger age), so they decide it's not worth it and that there are other things they feel are more important to spend their money on now. Then they get to age 40 or 50 and realize that they should have been saving for retirement much earlier.