Health & Fitness
#10 of "21 Critical Retirement Questions Answered" one at a time by Gene Offredi CFP© RFC
What percentage of my income do I really need to save for retirement?
Overcoming Retirement Saving Doubts
Q #10: “What percentage of my income do I really need to save for retirement?”That depends on your age, your retirement goals, your lifestyle, and other factors. But in general, if you’re in your 20s you can get away with saving 10 - 12 percent of your take-home pay. If you’re starting in your forties, the general rule of thumb is to save to 15 - 20 percent for retirement.
Of course, there’s no easy answer to this question. Save as much as you can. Save the amount that will make you feel comfortable and allow you to do all you’d like to do when you retire.
Click to download my FREE 44 page workbook. It will help you discover and apply your own answers that can lead you on your journey to the retirement of your dreams.
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