> Sam wrote: > I have a plan. Stop sending out the notices telling people how much to > expect when they retire. I always assumed I was on my own until I > started getting these notices. I'm almost up to $3k a month when I > figured it would be a couple hundred.. Makes me think I don't have to > save as much as I should. >
Here's a couple of good rules of thumb we use for saving: 1.) At a minimum, no matter your income, save at least 10%. 2.) For duel income earners, live on one income and save the other. 3.) When you get a pay rise, save it. You're already used to living on your old pay. 4.) Maintain 6 months of living expenses in cash. 5.) Don't "save for college". Savings is savings. 6.) Use a tool (e.g., financialengines.com ) to see what you'll make at your current savings level when you retire. 7.) Limit debt to house and car. Also we try to keep expenses down (no cable, etc), but we bake frivolous spending into the budget. If you like to go out on Friday's budget it in and make a trade-off else where. Just tossing that out there. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Introducing the Fusion Authority Quarterly Update. 80 pages of hard-hitting, up-to-date ColdFusion information by your peers, delivered to your door four times a year. http://www.fusionauthority.com/quarterly Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:215886 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
