Midpack
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I lifted this from another forum (that some here frequent), thought it was a good rule of thumb, at least for those without pensions and/or not counting on Soc Sec in large part.
Maybe #3 is the de facto LBYM threshold...just sayin'
Maybe #3 is the de facto LBYM threshold...just sayin'
When I was still working, too many people I knew were saving less than 10% unfortunately. Some had nothing at all saved at 40 and 50 years old, even though they had steady employment with us.What matters most is the amount of money that is consistently put away. In my experience, regardless of the specifics, the following is usually true:
1)People who put away 10% of their income do fine.
2)People who put away 20% of their income thrive.
3)People who put away 30% or more of their income become relatively wealthy.
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