If you haven't started saving for retirement, don't panic. As long as you have more than five years to save towards that goal, there's a good chance that you'll still be able to put away enough money. Watch as Carmen Wong Ulrich explains what you need to do and how long you need save.

If you have a financial question you'd like Carmen to tackle, post it here in the comments or email us directly at ivcommunity@mail.ivillage.com

Watch Carmen Wong Ulrich's 'On The Money' Saturdays at 8PM ET on CNBC! Find more information on coping with the economy with our Bail Yourself Out resources.