How much should we be saving for retirement (financial independence) right now?
While our Financial
Planning process is designed to provide a far more precise and customized
answer for each person/household I found the following on the Squared Away Blog
(published by the Center for Retirement Research at Boston College).
No
two people are alike, but the Center for Retirement Research estimates the
typical 35 year old who hopes to retire at 65 should sock away 15 percent of
his earnings, starting now. Prefer to retire at 62? Hike that to 24
percent. To get the percent deducted from one’s paycheck down into the
single digits, young adults should start saving in their mid-20s and think
about retiring at 67.
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