I am 48, single, no kids. I am a health care professional. I feel that I'm generally a very good saver and a not so good budgeter - hence the credit card debt payoff I worked through in 2020.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.
Finish Rich
September 29th, 2007 at 02:41 am
October 15th, 2007 at 01:05 am 1192410332
And, due to tax benefits it will probably only cost you 12% anyway.
I would also recommend a Roth IRA.