There's no single answer to how much money you should save

Carl Richards, a financial planner and author of "The One-Page Financial Plan: A Simple Way to Be Smart About Your Money," is known for boiling down essential money advice into a simple sketch that could fit on a napkin. In the one above, he tackles a common myth: That there's a specific percentage of your income, or a specific number, that you should save. The reality is that because everyone's situation is different, your savings goals depend only on yourself. Richards writes: When it comes t...