Quote:
Originally Posted by RayBonga
Actually you should only need around 11 years if you save 50% of your income.
If you're saving it, you'll probably be getting the same 10% you expect to get after retirement, compound that and you'll have 10 times you annual salary in 11-12 years 
Now the real problem with saving just 10 times your annual salray and retiring is that if you take into account inflation you'll probably need more than that (taxes should also be accounted for). |
Taxes are accounted for in this example as the income would be the same and my taxes should be ab out the same. And inflation was taken care of easily by the fact i am saving 50% after tax. So I have some room to give up.