<prompt> Human: Im 53 and received a series of decent annual raises over the past four years. Prior to that I didnt have the ability to save more than about 6 of my pay in my 401K. Last year I contributed 7.25 of my gross pay to my 401K, and my employer contributed 3.62, for a total of 10.87. This year I raised my contribution rate to 10. I expect my employers contribution will be about 3.62 again. What should I be shooting for, in terms of percentage? Thanks PF!  <response>: Its not about a percentage, its about getting enough in there to retire with your needs wants met.You are close enough to retirement age that you ought to work backwards from there to see how much you need to put in, for how many years to get where you can stop working. 