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
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.