The average American saves less than five percent of his or her disposable income. Many financial advisors say that isn't enough to ensure a comfortable retirement.
The personal saving rate, calculated by the federal Bureau of Economic Analysis, has hovered around five percent for the past few years. By the end of June, the rate had dipped to 3.8 percent, the bureau reported.
Carrie Houchins-Witt, a certified financial planner in Coralville, Iowa, encourages her clients to save 10 percent to 15 percent of their disposable income, putting the money in different accounts set aside for emergencies, retirement and other needs.