There’s no question more fundamental to personal finance than how much money we should save. Our savings rate is the cornerstone of virtually every other decision about money we make. It affects everything from buying a home to saving for emergencies to retirement.
Yet the guidance on this important topic is less than stellar. It usually takes the form of a rule of thumb, such as the admonishment to save 10% of our income.
Read more to learn how long will it take to build up enough investments to fund annual living expenses.