The Sunday Times article of saving $100,000 when one hit 30 years of age has caused quite a stir amongst readers. It even prompted for a short follow up piece that more details will be shared this coming weekend.
As with most financial bloggers, we can't help but contribute our two cents worth of opinion on this particular topic.
First cent, to hit that magic $100,000 many assumptions were made and most of the responses stem from those assumptions. Hence, let's strip to the bare minimum and work backwards. Ignoring all assumptions except for the fact that a consistent time line must be used as a baseline, i.e. one has worked continuously for the past 6 years before hitting 30 years old. Simple arithmetic, without all the fancy spreadsheet financial people just love to use to complicate things to prove their prowess with excel, is this: $100,000 / 6 ......