My wife and I are both 28 and have ~$30k combined in our retirement accounts. We got a bit of a late start building our portfolio because we didn't have extra money when we started our careers. However, now we're in a position where we can contribute much more.
In general (I know it varies A LOT) but what's a good amount to have in your account by the time your reach 30...35...40? I feel like we should start contributing more to catch up for the time we missed at the beginning of our careers.
We're currently contributing 13% towards retirement. However, 3% of this is towards the State pension and I'm not sure I'll stay as a state employee long enough to reap the benefits. Should we be contributing more than 13%?
In general (I know it varies A LOT) but what's a good amount to have in your account by the time your reach 30...35...40? I feel like we should start contributing more to catch up for the time we missed at the beginning of our careers.
We're currently contributing 13% towards retirement. However, 3% of this is towards the State pension and I'm not sure I'll stay as a state employee long enough to reap the benefits. Should we be contributing more than 13%?