Figuring How Much You Need to Save
Random Feed wrote an interesting post today on
Here’s a quick excerpt
One of the most common financial questions people have is: Am I saving enough? That’s a tough question to answer, since the amount you need to save depends on so many factors; your age, your goals, whether you expect to borrow to reach your goals, your income, and the rate of return on your savings, for starters. A general guideline is that you should try to save at least 10% of your gross income each year. That many sound impossible. If so, don’t just throw up your hands. Instead, try a
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