SumDay
Thinks s/he gets paid by the post
- Joined
- Aug 9, 2012
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(personally, I think this is low, but I'll let y'all chime in too)
Retirees need 8 times salary, study finds
Retirement savers need to set aside roughly eight times their annual salary in order to live comfortably if they retire at age 67, Fidelity Investments said in a report Wednesday.
The Boston firm is the nation’s largest manager of 401(k) retirement assets and is in the business of persuading people to save more. It offered a plan for arriving at the eight times figure, suggesting that workers should save an amount equal to a year’s pay by age 35. If they have three times their annual salary at 45, and five times at age 55, they would be on track.
Retirement savers need to set aside roughly eight times annual salary to live comfortably - Business - The Boston Globe
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