Linked Questions

95 votes
14 answers
35k views

Can saving/investing 15% of your income starting age 25, likely make you a millionaire?

I came across this article. It states, The plan calls for young people to put 15 percent of their salary into a savings account — whether it be an IRA, 401(k) or taxable account — starting at ...
user avatar
54 votes
8 answers
24k views

How much money should I save in order to generate $1000/month for the rest of my life?

How much money do I need to make in order to generate 1k/month for the rest of my life? Is that even possible? If yes, in what way? Edit: I am 30 years old.
samouray's user avatar
  • 657
35 votes
6 answers
6k views

"One should save about 15% of their income for retirement." What assumptions are implicit in that statement?

I read a lot of websites that say, "I've run the numbers, and you should be saving around X% of your income for retirement in order to be safe, and have fruitful golden years." With X% being a number ...
Glorified Plumber's user avatar
19 votes
5 answers
7k views

What percent of my salary should I save?

Here is my situation: right now I am living in Puerto Rico, and I am planning to relocate to the mainland US (probably to Seattle, WA). Although Puerto Rico is a territory of the US, almost everything ...
scubaFun's user avatar
  • 875
15 votes
11 answers
2k views

How should I save for a down payment on a house while also maxing out my retirement savings? Is that not feasible at my income level?

I see questions and answers like this one that make a very good point: Keep in mind it is easy to get a loan for a car, or for a house, or to pay for college; but very hard to get a loan for your ...
Michael A's user avatar
  • 1,958
28 votes
6 answers
7k views

Ideal net worth by age X? Need comparison references

Is there a website resource that gives suggestions for how much savings or net worth I should have at any given age, based on my education level and salary? I'm in my 30s, have no debt, and have been ...
stackoverflowuser2010's user avatar
20 votes
4 answers
44k views

What's the average nest egg (savings) for someone age 26? Website for comparison?

How much money should a 26 year old have saved up? Is there somewhere that I can compare against online?
PHC1983's user avatar
  • 427
13 votes
6 answers
3k views

What size "nest egg" should my husband and I have, and by what age?

Of course I know I should have a substantial sum of money that generates its own income, off which my spouse and I will live, when we retire. But what is the right amount to have, or even a range? I'...
Nat_Rea's user avatar
  • 8,683
10 votes
5 answers
3k views

How do you quantify investment risk?

It's obvious that investing in stocks and bonds is not a guaranteed return--there is some risk, and this is well known. People talk about risk averse investors or riskier ones, or that one should ...
Chelonian's user avatar
  • 2,197
8 votes
4 answers
13k views

How should one account for inflation when planning retirement savings and withdrawals?

Let's say one had a goal of saving $x, in order to live off of (say) 4-5% interest on the principal. How do you then account for inflation? Do you assume some rate and increase how much you would ...
Jonathan Winters's user avatar
5 votes
7 answers
1k views

How much should I save each month so I can retire early, in my Third World country?

I live in a 3rd-world country. I earn $500/month. How much percentage of my income should I save each month, if I plan for early retirement? Currently I am saving 30% of my income. Is there any ...
user avatar
8 votes
3 answers
944 views

Can I still contribute to a traditional IRA if it is not deductible? Should I?

I'm really confused about my saving situation, despite all of the articles and information I have found online. My employer offers a Roth 401(k), and I'm contributing up to the maximum employer match ...
Stephen's user avatar
  • 183
3 votes
4 answers
4k views

How to calculate money needed for a retirement based on an hypothetical death date & expenses?

I would like to know what formula or tool I need to use to calculate the capital needed for a hypothetical retirement that will start at date X and end at date Y. Here is an example: Variable1 = ...
user avatar
6 votes
2 answers
2k views

help with asset allocation for an early-30s guy with an uncertain future?

I've read a lot of guidelines on asset allocation but am basically hoping for more individualized advice like I've seen on so many posts here. I'll do my best to keep this brief: Me - 32 years old, ...
Jer's user avatar
  • 2,974
0 votes
1 answer
255 views

Saving when saving is really hard

I read the article of saving, and i like the answer but it miss some points.e.g if i earn 1700 and have a baby on way. I am still living with my in laws as i am new in this country. So in my estimate, ...
localhost's user avatar
  • 595

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