Figuring out how much you should save for retirement and how to save it can be quite daunting. This is especially true if you are trying to do so with little understanding of the financial market and without the help of a financial advisor. If that’s the situation you’re in, this guide will give you the basics needed to figure out a retirement strategy and start saving for that goal today.

Of course, that is easier said than done. There are a lot of challenges involved in trying to figure out exactly how much you should save and when you should expect to retire. Not least of your concerns is the fact that life expectancy and average retirement age are expected to change a lot over the next 30 and 40 years.

Thanks to these factors, the further you are from retirement age the harder it is to figure out exactly how much you should save or even where you should park your money. But that’s ok because the sooner you’ll start saving, the more money you’ll have to work with 10-20 years from now. At that point, retirement will be a lot closer, and you’ll be able to change strategies if needed. It’s better than reaching your 40s with no money saved for retirement at all.

This guide covers all the basic steps you need to get started, and it also touches upon a few useful financial concepts related to retirement savings, such as retirement accounts and reverse mortgages.