Tuesday, March 29, 2011
Financial Aging
I found the retirement calculator to be a very interesting tool. While I do not think it is very accurate in predicting how much I should save annually, especially at this point in my life without a "real world" job and salary, it did give me a bit to think about for the future. Using the values I imputed, the calculator said I should a little over 7% of my annual income beginning when I enter the work force (approx. age 23). This value of 7% doesn't seem like a lot right now but I'm sure it will add up to quite a bit to save annually when I have a larger annual income. It is very daunting to think about saving for retirement while I am not even finished with my undergraduate education or have a full-time job. This information, while beneficial to know, just seems adds one more thing to stress about to an already hectic college lifestyle.
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