How Much Should You Save Per Year?

The ball for the New Year is already coming down, have you been saving? One of my 2010 New Year's resolutions was to save this year. My parents have always told me to save 20% of each paycheck and this is exactly what I have done this year. It's exciting to see my savings account grow each month. It's always a good time to save; you never know when a pipe might bust or your water heater will break. If you aren't sure how much you should save each year use the following calculator from CNN Money to get an estimate based off of your age, annual salary and current savings. Click here to use the calculator.