As a 60-year-old, save as much as possible by contributing to tax-advantaged accounts such as 401(k)s or IRAs and taking advantage of any catch-up contributions available. Also, delaying Social Security benefits until age 70 can increase your monthly income during retirement if you are willing. Ultimately, how much you should invest for retirement depends on your circumstances, risk tolerance and financial goals. Consider consulting with a financial advisor to help create a retirement plan that best suits your needs.