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Reply to "How much should I be saving for retirement?"
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[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] Thanks for posting this chart makes me feel so much better since we're on track to be over 2x by 40. The more you save the more it starts to snowball in an up market. For instance my retirement accounts have probably made as much as I net in two months just in gains in the past year. [/quote]
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