What should be the min. & max. percentage of one's saving in relation to his salary?
147887
I think saving 10% is a good idea.  Of course, this would be a minimum; there's no need for a maximum.
758325
There are three rates of income tax (10%, 22%, 40%) plus national insurance contributions (10%). As a generalisation, assume about third of you salary will go on taxes.
716839
Paul J is right. 25% is the way to go, and remember to put that 25% into your piggy bank as the FIRST THING you do with your money, when you get it.\n\nIn addition to that, I never spend my change. When I buy something, I only use bills to pay with, and just put the change in my pocket. At the end of the day, when I get home, I take all that spare change and throw it in a box. Next day, when I have to buy something, I only use bills to pay... etc. In no time, you'll find that all that spare change adds up to some real money. In an emergency, you can take it to the bank and cash it in for paper.\n\nI'm so proud of you for starting to think about saving, at your age. I didn't start saving until I was almost 40. Worse than that, I was in debt up to my ears, because of credit cards! It took me forever to get out from under that crushing load of debt, but I've learned my lesson. Never again!! If I can't pay for something with the cash in my pocket, I do without. And I NEVER touch my savings, except to count it and rub my hands together in glee.
109632
If you are working for a company with a 410K plan, definitely contribute the top percentage you are able to. I began when I was 21, and now that I'm 28 I have a HUGE amount of savings in mine.
895599
My thought is that you have accounted for 70%, and they recommend that you save/invest at least 10% of each check.\n\nLeaving 20%.  In theory fair is 10% each, but if you're not going to "use" all of your 10%, put some extra in savings and let her use what you don't put in savings.\n\nBut make sure that both of you have to agree to take the money out of savings, or it may move without your say so anyway.
336638
I would say you are doing above average.  However average is unfortunately inadequate for the retirement that many would like to live.  Especially with Social Security being on such a shaky foundation.\n\nHowever it seems that you guys are doing pretty well.  Try using a savings calculator on ChooseToSave to make sure you are on the right track.
120424
Try the following: 1)Get the actual amounts you are eligible for at ages 62, 65 and 70 from the SSA.  2) Assume your remaining life span. Since you do not appear to need the money to live, base your decision on the maximum SS $ you will receive based on your assumed age at death.  For example if you are entitled to $1,000/month at age 62, or $1,200 at age 65 or $1,700 at age 70 and you assume you will live until 85 then the math would suggest if you began to draw at 62 and lived until 85 you would draw a total of $276,000; $288,000 if beginning at age 65 and $306,000 if you waited until you were 70. Ofcourse these calculations do not include the added cash you would accrue if part or all of the money were invested as you aged.  Remember the RULE OF 72. What percent do I need to double my money???  Divide 72 by the number of years and the answer is the percent needed.  For example to double your money in 12 years you would need 6% compounded.  (12 times 6 = 72).  It also works in reverse - if I can invest at 9% APR and compound the interest it would take 8 years to double my money. (9 times 8 = 72).  Teach this rule to your children and grandchildren and they will easily see the value in saving....and they have the best advantage of all.....TIME
462173
An amount equal or higher than your retirement check.
1147992
I go with this for myself.  10% for saving, 5-10% for giving if you are in a church.  35% for house expenses.  10-15% for groceries, 10% for unseen stuff, 5 to 10% for clothing all a month.  Hope this help.\n\n\nLC
1057076
A LOT of things would determine this.\n\nSome people could live on $35,000 a year, some need $75,000 in today's dollars.  It also depends on what type of pension or social security you will be receiving.  Do you have any savings?  Also, at what age do you want to retire, expected life span?  \n\nI don't know anything about you by your question, but here are some numbers I ran yesterday for a 27y.o. wanting to retire at 40.  These were just quick estimates.\n\n\nIdeally, if you retire at 40 and live another 40 years, can obtain a 7% rate of return, and need $40,000 a year for the 40 years in retirement, you need to have a little more than $500,000 in savings by the time you are 40 years old.\n\nYou can reach this $500,000 if you save about $27,000 a year for the next 13 years, given a 7% rate of return. \n\nDepending on your salary, this may be obtainable but you have a lot of work to do since you have basically no savings. Also, I used 7% because thats the average rate of return in the stock market but depending on your investments, it may be more or less. I would take full advantage of your TSP (401k) because all that matching the gov't does will really pay off. Also, it may be tough, but buy very few "wants" and try to stick to spending money on "needs." People usually think it is impossible, but it really isn't. Also, I'm sure you'll want a home at some point and you have to take that into consideration as well. Good luck
941057
1.45%\n2.1 to 5% depending on season\n3. 0% (they are both paid off!)\n4. 10%\n5. 5 %\n6. 5%\n7. 5%\n8. 15%\n9. 5%\n10. 5%
29521
Discuss your situation with a competent financial planner in your area. Do not trust anyone who tells you how much insurance you need without asking you any questions. Avoid insurance salespeople, especially ones who use a multiple of your salary approach.\n\nA good financial planner will complete a survivorship analysis for you. He/she will ask you alot of questions regarding your current financial situation and after making certain assumptions regarding rates of return and inflation, will be able to calculate your family's overall need for assets at your passing and how much of that need would be offset by assets you would have on hand. Don't forget to tell your advisor about any savings or investments you have as well as all life insurance in force, including employer provided. If there is more than enough assets already available, you do not need any additional life insurance, if not, consider purchasing more.\n\nThere is a widespread belief that term insurance is the only worthwhile way to insure oneself. This may not be the case. Term insurance is typically very inexpensive when compared to permanent forms of insurance (whole life, universal life, variable universal life, etc.) but it is important to remember that those term premiums will rise somewhere down the road. Approximately 90% of term policies never pay a death benefit, mainly due to the fact that they became too expensive to keep in force. Term insurance falls into two basic types, Yearly Renewable and Level. Yearly Renewable Term (YRT) premiums start very low. As each policy aniversary passes, your premium goes up. Each year you get older the resulting increase is a little bit larger than the previous year. It makes sense if you look at it from the insurance company's perspective; each year older you get is one year less you have left to live. Level Term will have a certain period where the premiums will remain level, usually 10, 20 or even 30 years. The longer the guarantee period the higher the premiums will be, but they will remain at the initial premium amount for the guarantee period. I prefer Level Term for my clients who need term coverage because it is a much more predictable amount to budget.\n\nPermanent insurances, while requiring higher premiums, also build a cash value, on a tax advantaged basis. If the policy is designed properly, it can make a good savings vehicle for LONG TERM investing goals. As with any important decision, the most important aspect is to get the advice of a competent, trusted professional.
659817
Return on assets will be 1.7 * 15% = 25.5%\n\n---\n\nRearranging the forumlas:\n\nNet income = Profit margin (15%) * Sales\n\nTotal assets = Sales/Total Asset Turnover(1.7)\n\nso...\nReturn on assets = Net income / Total assets\n                 = (15% * Sales) / (Sales/1.7)\n                 = 15% * 1.7
1143792
Well... using very simple math, that translates into about $125 pre-tax for every 1% of interest on the account. So, if you have a savings account with about 5% interest, you'd be looking at about $625 a month pre-tax income. Honestly? if you have that kind of money, there are plenty of safe investments to choose from that will give you a better return.
905970
Microsoft Excel can help with these kinds of calculations.  Though, an interest formula like this fails to take into account future additions to the principle of your retirement account.  Most people take some of each paycheck and put it into a retirement account rather than depositing a lump sum and forgetting about it.\n\nDon't forget to factor in inflation and taxes somehow!
339609
Agrees with above. The first move is to put 10% into savings. Ideally rent/mortgage payment should be no more of 1/3 of your household income. So that would leave you with about 55% of your income. That should be used for food and bills and the like. After all that is taken care of, then feel free to use it how you wish.
165316
So what if the rate in the 9th year is 5% and then the rate in the 15th year is 15% and all other 10%?\n\nUh oh......\n\nUse a spreadsheet program and you can investigate differences much more easily.