Interesting
Chart
What Percent of Your Income Should You Save For Retirement? (by starting age, with Social Security)
Here's an easy to use graph that suggests the percent of your income to save for retirement depending upon the age you start saving. It's based upon the commonly used 4% withdrawal approach to retirement savings, and designed for a typical wage earner who is planning to receive Social Security. Other posts address saving percentages for higher income earners, and those without Social Security. For other situations, see the end of this post.
Most people do not save enough for retirement. Sixty percent of older women have trouble covering their basic monthly expenses. Nearly half of Americans die with virtually no financial assets.
Waiting too late to start planning & saving for retirement, or not saving enough, can be the difference between having a secure, comfortable retirement or spending your golden years in poverty.
DYI
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