At this point it’s no secret that the COVID-19 pandemic has had an effect on pretty much everyone.

Big businesses, small businesses, essential workers, you name it, they’ve probably been impacted in one way or another.

But a local financial expert is particularly worried about people who are in the phase of their live where they’re trying to save up money for retirement.

“People in the accumulation phase are really effected with this pandemic and everything going on versus people who are in more of a preservation, and distribution or are already in retirement, they’re less effected,” said Christopher Berry, the founder of Castle Wealth Group in Brighton, Mich.

Berry said this pandemic has shown us more than ever the importance of saving.

So how much should you count on saving?

“My kind of flipping answer is as much as possible. But this is where we could look at so in your 30’s, it’s probably a good idea to have saved at least your annual salary. So have that money stocked away.

“And then maybe when you reach age 40 maybe it should be about 3 times your annual salary. And then by age 50 maybe 10 times your annual salary. And then if you follow that formula, that may get you to that magic number. But again it’s going to be different because everyone has different expenses.”