Quote:
|
Originally Posted by Sweepsplayer
Create a budget and find out how much you can afford to save (let's say 8%). Then tighten the screws and go even higher (let's say 12%). The more you can save, the earlier, the better.
Another option -- since your 403(b) does not have a match -- is to open a Roth IRA directly at Vanguard and max that out. There are several threads on here about Roth's vs. other retirement accounts. If you still have money to invest, then you can put it in the 403(b).
One more thing... a projected life expectancy of 80 is pretty low, in my opinion. People are living longer and longer, and there's a good chance the average life expectancy will be over 100 fifty years from now.
|
Exactly what I would have said!
Regarding life expectancy: my grandparents smoke, drank, and were always at least slightly overweight. My grandfather passed away at 84 and my grandmother is still going strong at 86. To be safe, I'm planning on at least 100. I'd hate to outlive my money!