It’s All About Me

As you begin, and throughout your employment career, it is important to remember who should get paid first, and that is you! While there is no magic number, according to a recent study done by the Employee Retirement Research Institution their best guess is that at least 10% of your gross wages should go toward your retirement. Fortunately, if you are in a plan where let’s say your employer matches 4% of your savings, you only need to come up with 6% to hit the number. Finally, based on a 25 year old making $30,000 who commits to saving 12% a year, his future value in today’s dollars would be $669,000 at the age of 65. So give yourself that 10%, you deserve it.