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Cash out Early
Old 10-26-2007, 06:06 PM   #1
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Cash out Early

One widely accepted rule of thumb is that you should save at least 15% of your gross income (including any help you get from the boss) to provide for a comfortable 30-year retirement. Move your time-line up by a decade and you may need to save twice as much, or even more.
Does this strike home with any of you folks?
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Old 10-26-2007, 06:19 PM   #2
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When I started w*rking many years ago, the stated rule of thumb was 10% of your income. So, inflation rules here as well.

The rule also assumes w*rking longer than anyone here wants to do.

Seriously, I think that that amount is ok as a general rule for the average person as a starting point to think about saving for the future, and most here far exceed this minimum. Further, without a clear understanding of your spending and investment mix in relation to earnings, it doesn't give you much guidance or assistance in real planning and goal setting.
I would not have anyone adopt my mode of living...but I would have each one be very careful to find out and pursue his own way, and not his father's or his mother's or his neighbor's instead. Thoreau, Walden
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