Submitted by badboyzpwns t3_z7ft6z in personalfinance
Werewolfdad t1_iy6iqgh wrote
Reply to comment by badboyzpwns in Stopping contributions to IRA/401k to save for downpayment? by badboyzpwns
Pretty sure the 15% was based on the Trinity study
> However, that 15% can differ depending on your salary For example, if i make 40k vs 150k.
Don’t understand what this means. 15% is 15%
badboyzpwns OP t1_iy6lfra wrote
Sorry! what I meant was, contributing 15% of 40k salary vs 15% of 150k salary, will yield signficiantly different results! So why 15%?
Werewolfdad t1_iy6m3gb wrote
> So why 15%?
To maintain a similar lifestyle in retirement.
Read the footnotes in this link: https://www.fidelity.com/viewpoints/retirement/how-much-do-i-need-to-retire
badboyzpwns OP t1_iy8k9cd wrote
Thank you :)!
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