(Image source: http://www.bankingsense.com/how-saving-slowly-over-time-builds-your-retirement-portfolio/)
What percentage of our salary should we be saving for our retirement? Assuming that we are able to earn a 7% rate of return on our investments (before retirement), have no salary growth (for simplicity) and start working at 25, we would need to save .........
20% of our salary to retire at 65
42.3% of our salary to retire at 55 ......This blog post is just to show the amount of money that we should be saving for our retirement. Most of this would just be some of the numbers that I have calculated to show the amount that we should be saving to ensure that we will be able to build up a sufficient nest egg for our retirement. If you want to learn more about saving up for retirement, you can read my post on it here: Ways to Begin Saving for Retirement