Retirement-Start at age 22

Quote from slidertrader:

When you talk in % terms it doesnt matter what the person makes.
There is evidence to show that most people in their retirement years require about 75% of their earnings in the year before retirement.
I havent done the numbers, but presumably, if you save 15% of your income every year (regardless of the $$ amount of your income), and invest conservatively, you will have enough saved at age 65 to live on about 75% of your previous salary.
More...


I dont think thats right, if you make 10k, per year, saving 9.99k per year isn't going to help. And if you are making 100M if you save 1M per year you could retire. But it also matter on how you live your life, and how comfortably you want to retire. You simply cant make any generalizations like that, or what CNBC did.
 
You must log in or register to reply here.
Back
Top