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Old 02-27-2017, 09:45 AM
 
674 posts, read 1,155,952 times
Reputation: 305

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I saw this report and I checked my investment. I have looooooooooooong way to go. Just wanted to check how other people are doing?

Quote:
By age 35: Have twice your annual salary saved.

By age 40: Have three times your annual salary saved.

By age 45: Have four times your annual salary saved.

By age 50: Have five times your annual salary saved.

By age 55: Have six times your annual salary saved.

By age 60: Have seven times your annual salary saved.

By age 65: Have eight times your annual salary saved.

Here's how much money you should have saved at every age
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Old 02-27-2017, 10:21 AM
 
15,802 posts, read 20,526,504 times
Reputation: 20974
Seems like they are including everything.


In that case, I'm doing better than listed.
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Old 02-27-2017, 10:27 AM
 
26,194 posts, read 21,601,431 times
Reputation: 22772
Looks a lot like this

Article on how much you should have saved at your age.
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Old 02-27-2017, 10:43 AM
 
Location: Denver CO
24,201 posts, read 19,224,183 times
Reputation: 38267
The info in these articles is always provided by financial services companies like Fidelity, who have a vested interest in getting people to save as much as possible as long as it's put into one of their financial products. So I always take these recommendations with a very large grain of salt.
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Old 02-27-2017, 11:21 AM
 
26,194 posts, read 21,601,431 times
Reputation: 22772
Quote:
Originally Posted by emm74 View Post
The info in these articles is always provided by financial services companies like Fidelity, who have a vested interest in getting people to save as much as possible as long as it's put into one of their financial products. So I always take these recommendations with a very large grain of salt.
Are you suggesting the guidelines are inflated or unnecessary? I find far too many people don't save enough and an article backed by a financial firm or not really isn't going to change that
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Old 02-27-2017, 11:25 AM
 
2,170 posts, read 1,956,466 times
Reputation: 3839
I'm covered just by the equity in my house.. I assume that counts?
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Old 02-27-2017, 11:28 AM
 
1,588 posts, read 2,317,254 times
Reputation: 3371
Damn, I'll need to quit my current position and get a much lower paying minimum wage job.

Adjusted for salary then I'll be looking fine!
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Old 02-27-2017, 11:44 AM
 
Location: The Triad
34,094 posts, read 83,010,632 times
Reputation: 43671
Quote:
Originally Posted by ericp501 View Post
I'm covered just by the equity in my house.. I assume that counts?
Nope. In addition to the net equity in the house.
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Old 02-27-2017, 11:56 AM
 
Location: Portal to the Pacific
8,736 posts, read 8,674,107 times
Reputation: 13007
We're about $300k short right now and we'll need to pony up about $500k in another 4 years to meet the next target.
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Old 02-27-2017, 12:06 PM
 
272 posts, read 216,754 times
Reputation: 219
Quote:
Originally Posted by MrRational View Post
Nope. In addition to the net equity in the house.

What about equity in investment properties? Do those count?
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