A Reddit user is experiencing frustration with their retirement savings, having saved $140K by age 40 while contributing 11% of an $80K salary since age 30. This user feels they are behind, as online calculators recommend having three times one’s salary saved by this age. Experts point out that while contributions could be higher, it remains essential not to succumb to comparisons with generalized financial guidelines. The key message is to stay the course and focus on individual financial health rather than arbitrary benchmarks.
The Reddit user, despite saving 11% of his income and having $140K saved at age 40, feels frustrated due to online calculators suggesting he should have more.
Comparing oneself to others in financial terms can lead to unnecessary stress and frustration, especially when personal financial journeys diverge significantly.
Experts generally recommend aiming for two to three times one’s salary saved by age 40, but individual circumstances can significantly affect those figures.
It is crucial to focus on making the right money moves rather than getting discouraged by comparisons to forecasts or others' financial situations.
Collection
[
|
...
]