Is Saving 10% of My Gross Income Good Enough?
By Dale Maley
Published: October 4, 2010.
The old financial planning rule-of-thumb is to save 10% of gross income. With the demise of traditional pension plans and Social Security on shaky financial ground, it is time to revisit the 10% rule-of-thumb.
This short story explores the 10% rule-of-thumb and updates it for the 21st Century. You will learn the correct target for your own personal savings rate.