I say be as aggressive as you can be as early as possible... at 25 I thought I'd retire around 65, at 30 I wanted 62, at 40 I wanted 60, in my 50s I want to retire ASAP.

What’s wrong with saving as much as you can at any age? If you over do it, you can always spend more later. If you don’t save enough, it’s harder to save/work more later in life.

I’m trying to retire by 50, so I’m saving 70%. Still have a fulfilling exciting life without wasting money on a nice car, fancy vacations, restaurants

A big mistake I wasn't aware of when I was younger and have have a hard time breaking now, is Over Consuming the wrong things. Instead of 4-5 drinks, pair it down to 3. Instead of 3-4 hours of TV, make it 2-3 and spend an hour everyother day reading and sweeping or yard work (alternating). Instead of eating to be full, eat 2/3 thirds or 1/2 of the food you would have ordered while some would go to waste. This adds up to quite a bit.

I've been saving over 50% of my net income for years, and I have a lot of savings (and no debt)...

My nephew and I were having a discussion... Although I think saving a fixed amount is good, given stages of life, saving more when possible is something I suggest to him. Stages, meaning saving for a house, layoffs, kids, etc.

I was absolutely clueless about funding retirement when I was young, never had a pension, and didn’t have a job with a 401(k) until I was nearly 40. Once I had that option, I started investing 15% of my income, so that at 55 I had too little invested and too much debt. I knew I had to change, so I got very frugal and got rid of the debt. I was able to save 50% of my income for about 3 years before I was laid off. My current job doesn’t allow that level of savings, but those three years made a huge difference. It got me to where I need to be for a reasonably comfortable retirement replacing 100% of my income (assuming social security survives) when I’m ready to leave the job.

25% is the Money Guy "financial mutant" aspirational advice, especially for the younger starting savers who don't need to catch up and are moreso looking to get ahead on that financial independence goal. The best advice, as I see it, is 1) Educate educate educate yourself and then 2) start now with saving something, if its that optimal level of 25'ish% then thats amazing and if less then it's a great start and stay motivated to work towards increasing that over time until you reach that optimal level all the while you're building your nest egg as you do.

Yes, DR has researched it and has data to support his 15% rule. I have heard him discuss how he reached that number.

I want to setup my daughter with a Roth IRA as soon as she starts working. I'll match what she puts in it. If she maxes it out every year from 14-24, she should have over 100k in tax free money when she gets out of college. If she keeps maxing that out she would have 6 million tax free by age 60.

I do my best to invest roughly 50% every month, some months more, some less, depending on different expenses that come up

This format is great. Really enjoyed the vid

I love ro change the word "retirement" to financial independence. Well, that may introduce too many variables.

Dave Ramsey only says 15% until your house is paid off. then it's as much as you want

Good video. Topic for future video; I'd really enjoy a review/ critique/ comparison of the big name robo- investors, showing the pros and cons, and essentially your sales pitch for yourselves as an alternative.

I saved/invested 25% of my income for the last 15 years of my working career and on top of that I had a 6/% company match. It worked great for me!

I like the simplicity of the 15% guideline, but see that for those who are a little behind bumping it up to 20% or more may be necessary.

Yep..I was that 401k guy!!! Great content!!!

You're correct at this point in time I don't live on 100% of my income but in retirement I want to live better than I do now. So I'm shooting to replace 100% if not more

Thanks guys! Learned a lot.

Thanks Dustin and Eric great way to break it down.

Chart on! 📈📊 Whoops wrong channel! 😅 Nice research and info Eric and Dustin!

I've been contributing 10% (required) towards my pension since I was 24. I'm 36 now and have opened a 457 and Roth IRA 2 years ago and am saving about 25% now. I'm going to try 25% the next 2 years also and then slow down to 20%.

Very helpful video! More like this!

Saving and investing is fun! You can never save enough!

So is the roth vs traditional 401k is the 10% the same dollar amount or are the taxes actually calculated on both ends?

I save 75 percent of my salary max out 403 457 and Roth IRA I’m 53 .I do a small side hustle to live on .plus 25 percent of my salary I live good .should I be doing something else?

What’s the rationale for calculating this percentage pretax versus after tax?

I would've loved to see analysis examples without employer match

I’ve done 15% from age 24-60 and didn’t make a million. Lots of other factors like salary and how it was invested. I obviously didn’t invest very well. My value is still more my money I put in than what it made for me. Remember there wasn’t an internet telling me how to do this back in the mid 80s. And you guys where in diapers.

I agree that daves thing is one size fits all but just wanted to point out that under his system it's 15% until the house is paid off (which obviously may or may not make sense depending on a bunch of variables).

We have a specific cost of living we operate within. We have been saving 25% our income is doubling. We will be saving closer to 50-60% maintaining the same standard of living to target 10x our income invested by 50. That works out to 40x our standard of living. We could very comfortably retire at 50. Though we will likely work until our mid 50's.

I don't count social security. I have serious doubts that it will be there or a completely new system could be in place in 35 years when I retire.

You know what noone else has videos on? Age gap retirement planning. How to handle a significant age gap between spouses when planning for retirement and social security. That would be great guys!

Retiring with 10 or more rental properties paid off at 55 to 60 ?

This makes me feel good in a way because I'm saving 35% (6% pretax and 29% Roth) of my gross but I still feel like I'm behind where I should be and the market is not helping matters. As I'm 62, it's getting a little scary. I feel like I may be working until I'm 70! :) I live below my means but I still have a $500.00 per month mortgage so I'm torn as to whether I should take money out of my retirement fund to pay off my condo or whether I should leave my funds in investments and take a mortgage into retirement. When I look at the monthly cost of Medicare and Medigap, it's frightening that I could be spending $500.00 per month just on healthcare. That's a huge hit.

For the 40 year old, switching to contributing to a Roth isn't necessarily a small (painless) thing for them. They will lose the tax deduction on the contribution, taking home less each pay period. Yes, it may make much more sense long term but, IMO, it's not quite the tiny fix implied here!

Between the HSA, 401K & ESPP, I've been putting away 20%. I also put away more in an IRA, but I don't count that towards my savings percentage. BTW, thank you for the videos you did on infinite banking.

Saving for retirement is much much easier once you save a large amount early in your 20s through mid 30s or early 40s due to compound interest. You can always take your foot off the gas in your 40s knowing you're on track to retire well.

Sept 23 we slid back into Bear Market? What do those of us near retirement do now?

Simple question.. pay off the house or continue to invest on your retirement at 15% on Roth

I’ve been living below my means for a while. Payed kids college and house is payed for. Still don’t feel like the investing thing is going to plan out for us. I do 16% and the wife has a pension and a maxed out Roth. The Markets are eating away our retirement. I feel I am spinning my wheels. No matter how much we put In it is staying the same or worse.

Age / 2 = what to save

I am 55 and started my current job at 38. I have a 401k with a 5% match and a pension. Slowly increased my 401K over the years, and now I am investing 27% of my salary and trying to invest the max into my personal Roth IRA. I am very fortunate to have both the pension and 401K. I figure between my pension and Social Security, I should only need to take out 2% of my portfolio to live comfortably in retirement.

What do you think about Ray Dalio's "All Weather" portfolio?

Save as much as you can, you don’t want to be one of those old people at Walmart or home depot still working

Doesn't 10% Roth cost more than 10% pre-tax? You'd have to pay the taxes then contribute 10% for the roth.

I am 42. My employee puts in 8% and I put in 27% for a total of 35%. I can access this when I am 69. I rather not have this money in my hand because I’d spend it on something useless 😂

Minor comment/correction. I believe Dave Ramsey advocates 15% (employee contribution) and after paying off mortgage to max out retirement savings. You were showing employee contributing 10% and counting employer's 5% match to give you a total of 15%. Enjoyed your video! Good food for thought

IMO people should save 70% of their pay. The issue is state and fed taxes will be going up to pay for all the illegal aliens and all the poor . Inflation will stay high for decades. Lastly there will be no social security in 10 years. Interest Rates will stay high for years and Markets will return less than they have the last 25 years.

Keep in mind when Dave says 15% he’s assuming at 12% rate of return.

I want to live, or else it will get rewound...again.

Lol these guys think Dave Ramsey have no reason why 15% work for all?!!😅😢

DR say save 15% while your still paying off your house ..but once you're debt free house and all Dave then say max all retirement accounts out with the freed up money..

The rich stay by spending like the poor and investing without stopping while the poor stay poor by spending like the yet not investing like the rich. INVEST NOW!

Great info. My wife and I were late starters and Ramsey has truly helped us in the right direction, Yes he does recommend 15% but he also has a method and while he does advise that and to use a good financial adviser that teaches (just as you all are doing here), the overall idea is 15% and focus on paying off the house ASAP then you have more $$ to invest with should you choose. side not. after the hurricane yesterday, I hope you all are safe!