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KYP019 How much to save at every age: 20s to 60s
Manage episode 310638563 series 3065794
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In this episode, Archie Moyo speaks on getting into the saving game late because well, he was a lost and unguided youthie. The truth is, having started in the call centre I felt like I didn't earn enough to start saving and only got a job I deemed worthy of saving when I was 27. Unfortunately, I didn't automatically start saving at that point, it was still a few years before I would start. Now in my 30s I see how that was a mistake.
A lot of us don't start saving until later in our lives because it's never presented as an option. Go to school so you can work. Work so you can afford all the good things you want. Nowhere in the story does anyone mention saving. We did some research on what the general rule of thumb for savings is.
How much should we strive to have at each age and how much should I be putting aside every month if I want a comfortable retirement. This is a great episode to listen to if you think you are too young to save, it's too late to save, or that you don't earn enough to save.
Key takeout: the best time to start saving is in your 20s, the next best time is right now. Let's start the saving and investment journey together and be part of a community that plans for its future.
#kaizenYOU
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