2007-07-14 17:02:13 · 2 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
It depends on how well off you want to be in retirement. Let's assume you won't have a pension. If you want to have a retirement lifestyle close to the lifestyle you have while working, it's best to save around 15% to 20% of your earnings (the more, the better). That may seem like a lot, but retirements last a long time these days, so you need a lot of money for a comfortable lifestyle. Invest in a diversified portfolio, and use a 401(k) account, especially if your employer matches some of your contributions. If you can't or don't have a 401(k) account, open an IRA or even a regular taxable bank, credit union or mutual fund account. The important thing is to save early, often and regularly.
2007-07-14 20:33:03 · answer #1 · answered by Uncle Leo 5 · 0⤊ 0⤋
Every DIME she can get her hands on! If she's REALLY lucky, & she can scrape 3 or 4 million together before she's 80, she just MIGHT be able to Retire! :)
2007-07-14 17:11:50 · answer #2 · answered by Joseph, II 7 · 0⤊ 0⤋