Reply to How much should I be saving for retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You are supposed to have 1x salary in retirement savings by age 30 and 2x by age 35 to be on track[/quote]

So you're saying if you even hit the first milestone, you basically need to be saving almost 20% of your salary between ages 30 and 35?  I think it's really hard for most people to do that.  I've only got 1/3 of my salary saved at 29, but I also spent 2 years in grad school.  I'm saving 10% of a government salary.[/quote]

PP is wrong - it isn't 2x by age 35.  It's 1x by 35.

http://bucks.blogs.nytimes.com/2012/09/12/suggested-retirement-savings-goals-by-age/
[/quote]

Only if you want to be poor. [/quote]

Look, for some of us, 1X salary saved is a big accomplishment.  Not everyone is making megabucks and able to sock away massive amounts of money before 35.  Sure, shoot as high as you want, but I think 1X salary  is a reasonable not too incredibly difficult guideline for people to try to follow with the cost of everything else as high as it is.

Consider how many people have very little to nothing in retirement - that number depresses me more than people who have saved 1X vs. 1.5X vs. 2X salary.  Anyone who is saving at all is actually ahead of the ball.  You have to start somewhere.[/quote]

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