One of the main goals we are asked to calculate for our financial coaching clients is: “How much do I need to save to be able to retire?” This calculation has many moving parts but I thought today we could give you a chart with some general rules of thumb.
Example: a 40 year old with a household income of $100k and $0 saved for retirement today may need to save 23% of their income every year until retirement (age 65). Be sure to see the model assumptions for more info.
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