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Finish Rich

September 28th, 2007 at 07:41 pm

I've read several personal finance books. I like David Bach's recommendation to save at least 12% of income and paying yourself first. He breaks down how much you need to save to retire at a certain level of prosperity. I plan to save no less than 20% of my income to retire wealthy.

My increase to my 457(b) went through but my decrease to my 403(b) did not, so I saw a little less in my paycheck this week than usual. That's okay. This allows my contributions to reach a certain goal level.

1 Responses to “Finish Rich”

  1. nika Says:

    20% sounds like a great figure - makes a huge difference, especially when starting young.
    And, due to tax benefits it will probably only cost you 12% anyway.

    I would also recommend a Roth IRA.

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