Question:
Peter Delaney (Houston, Texas) on 09/04/2009 07:56:43 asked:
Generally, a retirement rule of thumb is to save enough to give you ~80% of your pre-retirement income when retired. For instance..pre-retirement income = $10,000, so save enough to give you $8,000 in retirement.
My question: If I'm saving 25% of my salary, I'm living on $7,500 now. In retirement I won't be saving anything...so shouldn't my post retirement target be 80% of $7,500...and not 80% of $10,000?
Answers:
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