Sunday, April 01, 2007

10-12-15% savings method

Getting some savings tips from Saving For Retirement by Paul Westbrook..

Age 25: Save 10% of yr salary
Age 30: Save 12% of yr salary
Age 40: Save 15% of yr salary

Assumptions:
1. retiring at 65
2. live to 90 yrs old
3. annual salary increment of 3%
4. 65% of yr last drawn salary upon retirement to maintain lifestyle

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