Saving 10 Percent Is Death

I recently wrote a guest blog for the plonkee money blog entitled Saving 10 Percent Is Death.

Juicy Excerpt: It is a bad idea to consult a rule of thumb when deciding how much to save. Effective saving plans are customized saving plans, not prefab saving plans. What you need to determine is, what percentage of income should someone pursuing your particular Life Goals and faced with your particular financial circumstances be saving?

Today’s Passion: Saving Too Much Is a Big Problem. Or so I say.

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2 users responded in " Saving 10 Percent Is Death "

John Walter Russell said, in June 30th, 2008 at 2:21 pm

Thanks for two outstanding articles.

Have fun.

John Walter Russell

Rob said, in June 30th, 2008 at 2:32 pm

As always, the Retire Early Community played a big part in developing the concepts.

It was a long time ago when we were all bouncing around the ideas that led to development of those articles. But I think that most of those who were around in those days will acknowledge that our discussions on saving were every bit as exciting as our discussions on investing of more recent times.

The discussions on how to save effectively were less “controversial,” to be sure. But the same excitement re the discovery of new ways of looking at personal finance topics was present.

Community rules!

Rob

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