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    Is Saving 10% of My Gross Income Good Enough?
    Is Saving 10% of My Gross Income Good Enough?
    Is Saving 10% of My Gross Income Good Enough?
    Ebook44 pages18 minutes

    Is Saving 10% of My Gross Income Good Enough?

    By Dale Maley

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    About this ebook

    The old financial planning rule-of-thumb is to save 10% of gross income. With the demise of traditional pension plans and Social Security on shaky financial ground, it is time to revisit the 10% rule-of-thumb.

    This short story explores the 10% rule-of-thumb and updates it for the 21st Century. You will learn the correct target for your own personal savings rate.

    LanguageEnglish
    PublisherDale Maley
    Release dateOct 4, 2010
    ISBN9781452386515
    Is Saving 10% of My Gross Income Good Enough?
    Author

    Dale Maley

    Dale C. Maley is the author of the 19999 book Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros.He is also a contributing author to Chapter 18 Seeking Help from Professionals in the 2009 book The Bogleheads Guide to Retirement Planning.He is a very successful private investor who has been a student of Financial Planning and Investing for over 30 years. He was trained as an engineer at the University of Illinois and has been a practicing engineer for 32 years. His accomplishments as an engineer include the granting of 16 U.S. Patents and authorship of over 500 professional technical papers. He is also a member of the International Society of Automotive Engineers and the Society of Manufacturing Engineers.He also has earned an MBA (Masters Degree in Business Administration) degree from Illinois State University. His background in mathematics, engineering, and business provides him with the excellent basis for understanding and teaching investments and financial planning.He is also a very successful investor who has been investing in common stocks and mutual funds since 1980. He has also personally invested in both 401(K) and IRA plans, so he is familiar with participation and management of these types of investments. He has been investing in indexed common stock mutual funds since 1990.Dale became a Registered Financial Advisor in the State of Illinois in 2006 and is currently launching his business as a fee-only financial planner. He is President of Maley Financial Planning LLC.

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      Book preview

      Is Saving 10% of My Gross Income Good Enough? - Dale Maley

      Is Saving 10% of My Gross Income Good Enough?

      by

      Dale C. Maley

      SMASHWORDS EDITION

      PUBLISHED BY:

      Artephius Publishing on Smashwords

      Is Saving 10% of My Gross Income Good Enough?

      Copyright © 2010 by Dale C. Maley

      All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise) without the prior written permission of both the copyright owner and the above publisher of this book.

      * * * * *

      Table of Contents

      Chapter 1

      Why Personal Savings Are So Important

      Chapter 2

      Savings Rate Rules-of-Thumb

      Chapter 3

      How to Construct a Mathematical Savings Model

      Chapter 4

      Wealth Generation Potential of a Twenty-Two Year Old Engineer

      Chapter 5

      Required Savings Rate for Twenty-Two Year Old Engineer

      Chapter 6

      Wealth Generation Potential and Required Savings Rate for a Thirty-Five Year Old Couple

      Chapter 7

      Wealth Generation Potential and Required Savings Rate for a Forty-Five Year Old Couple

      Chapter 8

      Wealth Generation Potential and Required Savings Rate for a Fifty-Five Year Old Couple

      Chapter 9

      What If Future Returns are Lower?

      Chapter 10

      Summary

      Bibliography

      Web Sites

      * * * * *

      Warning-Disclaimer

      This book is designed to provide information in regard to the subject matter covered. It is sold with the understanding that the publisher and author are not engaged in rendering legal, accounting, insurance, or other professional

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