What would a good amount be to put in an IRA or 401K monthly to have as retirement backup?
Currently 32 and already have about $10,000 in each.
Answers | 2
I would also put some into a Roth IRA on the outside - you don't get the tax advantage on deposit, but it grows forever with not tax burden and you have more flexibility of investments than in a 401K, downside - you are subject to much lower limits on annual contributions (at your age, you can only put in $5,500 per year (about $450/month) . . . but this amount is completely separate from whatever you put in your 401K. Again, start out low, maybe $100 month, and index up from there.
Don't "save until it hurts", or you will quit. Instead, save until it feels good, build an emergency fund, save up front for major purchases, and make that retirement payment so automatic that you never think about raiding that account or cutting the amount you put in.
I call it Zen Investing == and like all things worth having, you have to commit to it.