- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: 20% saving for retirement???
Posted on 11/3/12 at 12:18 pm to Zach
Posted on 11/3/12 at 12:18 pm to Zach
quote:
Eliz. Warren is running for Senate in Mass. against Scott Brown. A few years ago she wrote a book on personal financial advice. In it she recommended that as soon as you enter the workforce, let's say at 22 when you graduate college, you should put 20% of your income into a retirement account.
Questions.. Is that realistic? And, if so, for how many people?
Probably not realistic for most people
I can do it now only because my income far exceeds my lifestyle
But if you're making 30K a year, it's not likely you'll be able to do it unless you have a car paid off and have roommates.
1
Posted on 11/3/12 at 12:49 pm to Powerman
quote:
But if you're making 30K a year, it's not likely you'll be able to do it unless you have a car paid off and have roommates.
Everyone has what they consider a minimum standrard of living, but beyond that the key to saving is to make it automatic and somewhat invisiable. When I started investing 35 years ago, everytime I got an increase in pay I would increase my savings contribution the same amount. I had been living on my existing salary for the previous year so I figured I could live on the same amount it for another 12 months. Doing this had me maxed out in only a few years, and I never missed the money.
This post was edited on 11/3/12 at 12:53 pm
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News