Why You Should Be Saving More Than 10% of Your Income Toward Retirement
For years, financial experts have urged employees to save 10% of their income and put it toward retirement. While 10% may be a simple and straightforward goal to pursue, in reality it may not be enough to fund a comfortable retirement.
While it's impossible to predict exactly how much you'll need during retirement, there are some simple rules of thumb that could help you get a ballpark estimate:
Now let's see how saving 10% of your salary each year holds up to these guidelines once you reach retirement age.
Source: Fool.com
