Over the years, Clark has always preached about saving a dime on every dollar you make. If you want financial security and freedom, that’s what you need to do. Simple as that. But what if you are older and you’re trying to “catch up?” A study published in the Journal of Financial Planning shows that adjustments must be made based on your age and income. Some people just can’t take a dime on a dollar as the automatic answer. If you’re making between $25,000 and $35,000, you don’t have as urgent a need to save. That’s because social security benefits will still be meaningful to you. People who earn more won’t be able to depend on social security benefits, so will need to save more. Typically, the goal is a dime on a dollar if you start saving in your 20s, 15 cents on a dollar is you start saving in your 30s and 20 cents on the dollar if you start saving in your 40s. Another way to look at it is if you’re 30 and you make $40,000, you will need to save 10 percent to have a comfortable retirement. If you’re 30 and making $80,000, you need to bump it up to 15 percent. If you're older than 50 and you haven't saved a dime, start saving as soon as possible. And realize that you may have to work a little longer than expected.