Everything You Need to Know About Your 401(k) (Are You Losing Money?)
Money Guy Show
00:00
Are You Saving 20 % of Your Income to Replace 60 %?
As you get older, these numbers are increasing pretty rapidly. By the time you're 35 % of 35 years of age, you need to be saving 19 % of your gross income to replace 60 % of your retirement. And then fast forward when you're 39 years of age,. Now here we are. We're getting really close to that hyper saving status that you need tobe saving 24% of your grossi come to replace 60%. That's a great point because of taxes and retirement savings. But it's a slippery slope, because you call see how those numbers cint to correlate. You can set it up so that you actually get to spend more in retirement than you did pre retirement
Play episode from 01:04:30
Transcript
