Submitted by Stand4it t3_11gjx24 in personalfinance
I’ve been trying to read as much financial advice as I can in the past 2 years. Books, podcasts, articles, and subreddits.
What I haven’t found discussed, is what seems to be differing advice on where the goalpost “should” be for the average person to be able to comfortably retire.
Most podcasts and books seem to base the goal off the 4% rule which would mean my goalpost should be 25x my salary if I want similar quality of life in retirement.
Most financial articles I’ve read online seem to advise a goal of 1x salary saved by 30, 3x saved by 40, 6x by 50, with the goal to retire mid-60’s with 10x salary saved/invested.
10x and 25x of anyone’s gross income are WILDLY different goalposts.
While obviously the more money I can have in retirement the better, as I work to plan for that, how do I create a reasonable goalpost to work toward? Is 10x salary actually enough to retire, or should I really make sure I find a way to get to 25x before even considering it?