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December 04, 2007


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I currently save 26% of my income for retirement. And I am not counting my employer's contributions even though the article said that was okay.
I didn't start out that way but every time I change jobs or get a raise, I put ALL of the new money towards my retirement accounts. I have been living on nearly the same amount for almost ten years now. Of course when I first started saving, I didn't use coupons, didn't shop for bargains and I didn't read blogs like this. These things have helped me to maintain my outflow at nearly the same amount give or take a little. As a matter of fact, I just recently got the Chase Freedom card because of this very blog!

Wow, I feel dirty compared to Pat. I'm only saving 12% of my income for retirement . . . that should be way more.

I liked the advice that if you can't afford the house on a 30 year fixed mortgage you can't afford it. In Canada the general 'run of the mill' mortgage is 25 years and I had the same rule.

Cars in 4, homes in 25 (30 USA). If you can't afford that you can't afford what your buying. I hope that the S.O. agrees with the same rules over our lives. If I can get up to 18% of my income in the retirement plan, and some more in the 'fun investing' plan (say 5%) I think I'll turn out just fine.

right now, we save about 90% of our income. i don't think 10% is gonna get you there even if you start in your early 30s.

i like citi dividend platinum, b/c you get standard 1%, plus if you buy stuff from the participating stores, you can get much more back. living overseas, we buy tons from amazon, so chase amazon works for us.

Wow Tim, you save 90% of your income and still have some left over to "buy tons from amazon"??????

Including my company match and pension contributions I will be saving 21% toward my retirement when I start a new job in a few weeks. I am only 27, so according to this I should be pretty comfortable in retirement.

Great post. Those are some great rules to follow.

It's hard to take an article seriously when it makes this patently false statement:

"[Y]ou'll avoid the 20% or so loss to depreciation that happens as soon as you drive a new car off the lot."

That popular myth has been proven to be just that:

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