View Full Version : What percentage of your income do you save and/or invest?
Nagel
I know many people out there want a rule of thumb to how much they need to save every month. Obviously each situation is unique, but I thought if people could respond it might give those that need some guidance a start.
My wife and I try to save 1/3 of our after-tax income.
Nagel
http://finance.webaplex.com/
iendeavors.com
The general rule of thumb is to challenge yourself to set aside 10% of your income for investing. If you make a habit to do that, you will be able to build a nice little retirement nest over time.
ejp
Generally speaking it is around 10%, however if you can save more, go for it. Even saving as little as 2% helps. What I am trying to get at is that many Americans do not save therefore they have to push retirement back. Even if you can save a little, you are doing better than most of the U.S. population. Saving 1/3 of your after-tax income is great, keep up the great work.
-EJP-
www.rmicsi.com
jIM_Ohio
I calculated this today for another reason and it's 20% including the company matches in both wife's and my 401k.
120k gross income
8k to my 401k
3k to wife's 401k
10k to Roth's
plus 2k match from my employer and 1k match from wife's employer.
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