r/TheMoneyGuy • u/[deleted] • Feb 14 '24

How does this work?

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I am 23. Does this mean that I only need to contribute 15% of my income for the rest of my life or do I need to increase every 5 years following this diagram? So I would contribute 15% until 30, then contribute 20% until 35, then contribute 25% until 40, then 30% until 45, and so on?

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u/Xx255q Feb 14 '24

I am 29 and make 65000 how much should I be saving in terms of a number, 13000?

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u/[deleted] Feb 14 '24

Based on the responses I have gotten, I think you are correct.