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By the time you retire at age 67, you should have eight times your salary saved for retirement, in order to replace 85% of pre-retirement income. Youre on track to cover basic retirement expenses if, at 35, you have one full year of current salary saved up and if you continue saving at a specified rate.

Thats according to a new retirement tool from Fidelity Investments, which Andrea Coombes writes about in her latest column. To be fair, any tool that claims it can tell you how much you need to save is making some assumptions that may not fit your situation, and by following the guidelines, you may end up saving not enough or too much, she writes.

Read the full column in todays Personal Finance pages, along with more retirement coverage from Robert Powell and Chuck Jaffe. Plus, read about the latest Census Bureau statistics that indicate median household income decreased last year, and 46 million Americans remained in poverty.

Amy Hoak , Personal Finance Daily

Are you saving enough for retirement? A new tool aims to give savers a rough guide to let them know whether theyre on trackbut, as with all retirement tools aimed at a broad audience, take the information with a grain of salt. Retirement savings: How much is enough?

With the Fed likely to launch QE3, experts are suggesting that there might be some different moves to make with your money, especially if you are retired or fancy retiring. 7 QE3 moves to make with your money.

Before politicians can fix Social Security, they need to ensure that older Americans feel more secure about their financial future due to the fruits of their own labor, rather than any form of entitlement, writes Chuck Jaffe. For a better retirement, work longer.

Doctor develops new system to allow older people to remain at home, while providing them with cost-effective services using technology and a combination of volunteer and paid labor. Seniors get wired to stay home.

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Personal Finance Daily: How to save enough for retirement