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Subject: Re: Am I on track?  Date: 1/4/2008 12:52 PM  
Author: 4inthefamily  Number: 4543 of 5245  
How do you compare with the formula given above ? I know this has been discussed a hundred times before on various boards, but I had to bring it up again. That formula is too simplistic to mean much. For one, such as myself and the OP, who is 32 years old  I would consider it quite prodigious to even have 3.2 times our household income  certainly above average. On the other hand, I hope and pray that by the time I am 60, I have significantly more than 6 times my salary. Otherwise, retirement might look quite bleak. The authors of the book tried to fit a linear graph to what is an exponential function. It works okay for the middle numbers, but does a terrible job on the ends  those at the beginning of their careers and those at the end. According to the formula, my little sister, who graduated from college last April should have (2.4 * $56,000) since she is 24 and has an annual salary of $56,000. Kind of silly when you think of it that way. 4 

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