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Suggested savings rate
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Suggested savings rate

Although this figure used to be a minimum of 10 percent, experts now endorse bumping your savings rate up to 15 percent. Subdivide that into 10 percent for retirement and 5 percent for shorter-term savings, such as a vacation. "The rule is sometimes expressed as 90/10 or 85/15 where you spend the first number and save the second number," Orecchio says.


 

 

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