Cash out Early

[mickeyd]

http://finance.yahoo.com/focus-retirement/article/103763/Cash-Out-Early?mod=retirement-preparation

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?

 

[Sandy]

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.