|Six Month Amount by Age To Achieve|
Savings Equal To 12 Times Salary
|Salary||20||30||40||50||60*||12% of Salary|
One can choose the lower of the 12 Times Number or the 12% Number. For example, if 20 and making $50,000 per year, one should have saved $680 by December 31, 2007. If more aggressive, one can choose to have saved $3,000.
This concludes the My Wealth Builder Retirement Saving Challenge. I hope challenge participants have found the process useful and beneficial. As seen in the above table, followers of the saving challenge have a made a good contribution to their savings. I wish everyone good luck in their own retirement savings journey.
Here are the related posts (in date order) for The Retirement Saving Challenge:
Retirement Saving Challenge
Set A Goal
Create Environments and Behaviors
Daily Savings Targets
Preparation - Timeless Personal Finance Recommendations
Finding Money To Save
The Power of Compounding
One Month Update - July, 2007
Two Month Update - August, 2007
Three Month Update - September, 2007
Four Month Update - October, 2007
Five Month Update - November, 2007
For more on New Beginnings, check back every Sunday for the next segment.
This is not financial advice. Please consult a professional advisor.
Copyright © 2007 Achievement Catalyst, LLC