Q & A
How much to save for retirement?
Answer: Dimensional Fund Advisors, a Texas-based investment management firm with more than $281 billion of assets under management, recently released a study that shows that the vast majority of retirement savers are not saving enough for their golden years. Results of the study were reviewed in a Market Watch article by Robert Powell.For years, the standard response to the question “How much should I be saving for retirement?” has been 10 percent of one’s pre-tax income. Two associates of DFA, Marlena Lee and Massi DeSantis, wrote in their paper that “simple rules of thumb do not work for many people.” Read more.
Source: aikenstandard.com, September 1, 2013
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