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How much do you save?

I read somewhere that someone on a normal salary who takes 10% of every paycheck starting at age 25 and invests in mutual funds etc... will have a million dollars by retirement.

 
Originally posted by: doze
I read somewhere that someone on a normal salary who takes 10% of every paycheck starting at age 25 and invests in mutual funds etc... will have a million dollars by retirement.
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Well hell I better put in 20% cause I don't know if a million will cut it.

Anyways...what the hell is a "normal" salary? Completely dependent upon your standard of living, area of the country, etc.
 
Considering the average savings rate in the US is -2%, youre doing much better than the populace already. I've always tried for 20-50% personally.
 
No plan or percentage for me. My income fluctuates wildly from year to year, and I am quite frugal. It just sort of accumulates😛
 
i save roughly 40-50% of my after-401k/after-tax income. i don't make tons to start with and live in CA, so that leaves me enough to live a very frugal post-college life. one day it's gonna be benzos and lambos all the way!!!! 😉
 
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