A lot of recent news articles and personal finance books I’ve read all heavily disparage saving more then this, to the point of sounding like propaganda.
In: Economics
15% is recommended, because 15% over 40 years, at 10% annual, would allow you to earn the same in retirement as you were making working. Saving more is unnecessary unless you started late or you are getting poor returns.
Of course everyone’s situation is different, and you shouldn’t blindly follow a number from the internet. Do your own math. Plan your own future. Figure out what you need and try to save that, nothing more. You’ll probably find 15% to be pretty close to your target.
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