Let's use 30 years old and $300 K including 401k, IRA and savings accounts as an example.
I understand there are many factors that could determine the answer but is there a simply way to do a self assessment ?
quote:Did that X 4.
At age 35, you should have saved an amount equal to your annual salary.
quote:Did that X 8.
At age 45, you should have saved three times your annual salary.
quote:Did that X 15.
At 55, you should have five times your salary.
quote:I'm a ways off from that age, but I've already done it X 12, assuming I don't lose my arse in the stock market anytime soon.
When you retire at age 67, you should have saved 8-10X your annual salary.
quote:Starting at age 22, 5-6% (or more) of income savings per year + accrued CGs at ~6-7% will acquire the 35 y/o benchmark (savings = annual income)
So what is good savings at this point for someone working for a couple years?