The article emphasizes that while starting retirement savings early is ideal, many people face circumstances that can hinder their ability to save. A case in point is a 37-year-old couple who, having lived modestly while the wife pursued veterinary school, now faces the challenge of determining how much to save once she begins earning a higher salary. Experts suggest a savings goal of 15% to 20% of income, but this may not be feasible for everyone, particularly if debt is a factor.
The general advice for retirement savings is to aim for 15% to 20% of income, but actual savings may need to be adjusted based on personal financial situations.
Life circumstances, such as pursuing careers with initially lower salaries, can make reaching retirement savings goals more challenging, especially in the early years.
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