Depressing retirement calculations

Add comment July 14th, 2008

I’m years and years away from thinking about retiring. But I should have been thinking about it more years and years ago.

That’s because I haven’t saved nearly enough nor made enough sound investment decisions.

But today I read this advice in a story that tells me in more concrete terms than I’ve seen before just how far behind I am.

It says I should sock away 20 percent or more of my earnings to catch up because I haven’t been saving 15 percent of my income the past 40 years.

It’s a depressing figure, but I can wrap my arms around it.

Any of you want to share other depressing/encouraging retirement calculations?