re: Goal for retirement savings as a ratio of salary

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The basic approach is 2 years of projected spending in a cash bucket, 8 years of projected spending in a bond bucket, and everything else (15 + years) in stocks. I deviate from these amounts, but I like the approach.

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There's no reason to go "cash" right now though. We are just used to having very poor interest rates from 2010-2022 or so, but historically that's not normal or average.

Compared to the last 15 years, if you are close to retirment you should feel more comfortable than ever with your ROI IMO. Again, go 60-80% bonds or CDs if you want. Then live off of that.

I don't understand why this is downvoted, but in the entirety of the 80s, 90s, and early 2000s many were 60/40 or great in bonds earning 4-6% (maybe more). Their equities was really just for additional returns and to fight long term inflation.

Historically the stock market has recovered EVERY SINGLE TIME in 2-3 years at most. So if you have 2-3 years in fixed income, you'll recover.

People don't like the truth, but that's been proven over and over historically.

ETA: IMO if you are saving 20% You are doing well. 15% you are doing fine. Under 15% is not good and over 20% is great.

You gotta live your life and enjoy it also. Unless you are a super high net earner, saving more than 25% or so means you are really cutting into your current life to save for later.