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sillysally asks,

until I did the Millionaire Next Door worksheet.

I save the max 10% in a 401K (S&P 500) plan with a 6% match. I also max my IRAs every year (they are in stocks). I don't have credit card debt. I also purchase a couple stocks every year. I thought I was doing ok. I was surprised to learn that I spend more and save less than the avg. American.

What am I doing wrong. How much do I need to save? What did early retirees on this board do to be able to retire early?

I retired in 1994 at age 38. The last 4 or 5 years I was working I saved about 50% of my gross income.

I took "Millionaire Next Door" test you mentioned and based on what I was earning in 1994 when I retired and I got a ratio of 1.55.

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