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ChiSquare1963 t1_iudnfns wrote

Yes, focus would be a good idea. With the limited information you gave, I’d prioritize 15% of income into investment accounts and non-mortgage debt. I’m assuming your mortgage rate is less than 6%.

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mildewey OP t1_iueqefs wrote

Yes, mortgage is sub 3%. Why 15%? It sounds like a good number, but what drives that being the number? Or is that just a minimum number that I should hold firm with myself on?

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ChiSquare1963 t1_iuf5a1m wrote

15% is a frequently recommended guideline for retirement investment, assuming you start in your 20s and plan to retire in your 60s with the same standard of living. Example

If you want to retire early, you need to invest much more. If you got a late start, you need to invest a bit more. If you have defined benefit pension plan, you may be able to invest less. If your employer matches, that match can be part of the 15%.

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