Is Saving 12% of Your Salary Enough for Retirement?
Many workers today will probably need a seven-figure nest egg to cover their full retirement costs. Saving that is a daunting task, and it's made more difficult by the fact that we can't predict exactly how much we'll need or how quickly our investments will grow.
Most people default to saving a certain percentage of their income and hoping for the best. A recent Transamerica survey found that the median savings rate among full- and part-time workers was 12% of their monthly income. But is that really enough? Here's how to answer that question for yourself.
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Source Fool.com
