Ask T. Rowe Price  How can my savings rate help me maintain my
lifestyle in retirement?  STUART RITTER, CFP®, a senior
financial planner with T. Rowe Price  Stuart Ritter, CFP®, a
senior financial planner with T. Rowe Price , explains that
saving less than you should for your retirement can mean a
dramatic decrease in your lifestyle after you stop working.  he
first step is to understand how much income you'll need once you
retire. Because you will no longer be paying payroll tax or
saving for retirement, you should be able to maintain your
lifestyle and cover your expenses with approximately 75% of your
preretirement income. Fifty percent should be generated from
your retirement investments, with the remaining 25% coming from
Social Security benefits and other sources, such as a pension or
part-time wages.  SAVE 15% Most people need to save at least 15%
of their annual income, including any employer contributions, to
achieve the desired amount in retirement. (Your savings
percentage may need to be higher if