When it comes to savings, there’s no one-size-fits-all answer for how much cash you need to set aside. In fact, financial advisors often offer conflicting advice.

Instead of searching for the “right” number, you can compare advice from multiple sources to come up with a solution that best suits you. To help you, we’ve gathered a few common recommendations on how much to save for retirement and emergencies, and some pointers for how to set and reach your savings goals.

One popular rule of thumb is to aim for retirement savings equal to your annual pay by the time you reach age 30. So if you were earning the average income of a Kenyan 30-year-old, around Kshs.30,000 a month which totals to Kshs.360,000 a year, you would aim to have Kshs.360,000 in retirement savings at the age of 30.

If that target seems impossible, consider other recommendations. Katala Investments advises that a 30-year-old should have the equivalent of half of their annual income in retirement savings, and a 35-year-old should have an amount equal to their full annual income.

If you’re not on track to reach those targets, try setting a more attainable goal to start with, like saving four months worth of your annual income by age 30.