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Subject:  Re: Beginning Retirement Investing Date:  2/18/2013  4:50 PM
Author:  TwoCybers Number:  71419 of 88538

The current issue of Money magazine has a short piece addressing your exact question. They say if you save 16.5% of gross pay you will be able have a retirement close to your preretirement in terms of spending. That does not mean you need provide the entire 16.5% since employer matching would reduce the amount.

Personally, we saved in the range of 15%, but did not start that way. We started with a lesser amount, but made a rule every time there was a pay increase, half the increased take home went into savings. Never, ever took any money out of the retirement pot until retirement.

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