I am always looking for good guidelines in terms of what % of gross income is a good goal to have for saving for retirement. I see articles that state anything from 10% to 26%. I have also seen rules of thumb like your age divided by 2. I am not looking for a magic number but its so hard to do planning with the instability of the economy. You used to be able to have great confidence assuming a rate of return but these days I hestiate assuming some of those higher historical returns. I run through various tools on investment sites and they all seem like yeah we will have enough but then its hard to really know what is enough to begin with.
We are currently saving 15% of our combined gross income for retirement. I just recently kicked it up to 15% up from 14% and was really pleased with that. BUT, I just don't think its enough and think 20% would be better but don't think we are near being able to do that! I just don't want to be depressed or feel like we are totally sucking in this area.
Just curious if you are willing to share ... what % of your family's gross income do you save for retirement? Do you look at the % or am I completely nuts?!
Personally, I think you are doing great if you are able to save 15% for retirement. We are only saving what comes out of B's paycheck, and I'm not sure what that % is, maybe 6%? He's a teacher so gets PERA, also. Other than that, we are more concerned right now about saving for our kids to go to college and keeping savings for emergencies.
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