Dear Friends and Family,
Phew. Got my draft presentation out for my first meeting. I've got five meetings, a presentation and a page full of to-dos today before I can say hello to the weekend. Honestly, working from home saves on the morning and afternoon commute, but I am really working, not just hanging out eating bon bons.
I saw an article in the Journal yesterday that struck a chord with me - A $1 Million Retirement Fund: How to Get There From Here (registration may be required). It talks through some simple math about how much you'll need for retirement... blah... blah... blah...
But, the article also highlights an interesting tipping point in the whole equation. Once you save up twice your eventual income, saving for retirement becomes easier. At that point, more of your savings come from the earnings on savings than from deposits into savings. (i.e. Say you want to make $80,000 a year by the time you retire, then $160,000 is the number you're after.) While the goal isn't easy to reach, the author advocates trying to reach it by your early forties.
Not sure how this translates into a savings goal for anyone out there, but thought it was an interesting read anyway.
Cheers!
mouse
Phew. Got my draft presentation out for my first meeting. I've got five meetings, a presentation and a page full of to-dos today before I can say hello to the weekend. Honestly, working from home saves on the morning and afternoon commute, but I am really working, not just hanging out eating bon bons.
I saw an article in the Journal yesterday that struck a chord with me - A $1 Million Retirement Fund: How to Get There From Here (registration may be required). It talks through some simple math about how much you'll need for retirement... blah... blah... blah...
But, the article also highlights an interesting tipping point in the whole equation. Once you save up twice your eventual income, saving for retirement becomes easier. At that point, more of your savings come from the earnings on savings than from deposits into savings. (i.e. Say you want to make $80,000 a year by the time you retire, then $160,000 is the number you're after.) While the goal isn't easy to reach, the author advocates trying to reach it by your early forties.
Not sure how this translates into a savings goal for anyone out there, but thought it was an interesting read anyway.
Cheers!
mouse
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