This Is How Much Money You Should Have

Fidelity Investments has published a guide to how much money you should have saved at certain ages in your life so that you “can be on track”. Here’s what they say:

At age 35, you should have saved an amount equal to your annual salary.
At age 45, you should have saved three times your annual salary.
At 55, you should have five times your salary.
When you retire at age 67, you should have eight times your annual pay.

And here’s Forbes’ list of how much money you “should” be saving of your annual income, depending on what age you begin saving:

Start at age 15, and you need to save 8% of annual income for life.
Start at age 20, and you need to save 11.1% of annual income for life.
At age 25 you need to save 15.4%.
At age 30 you need to save 21.4%.
At age 35 you need to save 30.1%.
At age 40 you need to save 43.2%.

How many people do you actually know who are financially responsible?

Read more at time.com and here as well.