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Reply to "How much should I be saving for retirement?"
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[quote=Anonymous]For younger savers with income growth potential, just get in the habit of regular savings and living beneath your means. And when you get raises, allocate a good amount of the raise amount (50%) to savings. Then when you are 40, and earning $120,000, you will be living on $60k, putting $30k away, and will be able to retire comfortably (so long as you can live on $60k comfortably). If you are likely to earn $40k the rest of your life, just try to save about 10-15 percent a year, and you should be okay. But you'll never be considered rich in the DC area. [/quote]
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