Re: Is 10% enough?
Well, I look at it this way. If you only save 10%, now, that means you are living off of 90%. We don't know how long we will live, be able to work or have the ability to save. If you had something happen tomorrow, would you be able to live off of that 10% you saved today? Most of us would say no. If we are able to save more, we should. I try to save 25%. Of course, there are different ways to save it--putting it towards mortage or 401K are savings/investments. Some people don't consider that savings, but consider savings to be just an account. But, it should be a goal to pay off your home before retirement.
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