The November issue of Money magazine contains a bunch of retirement articles. It must be their retirement issue. I am planning to evaluate each article one at a time to see if I agree with their position. The first article is about preparing for retirement with a checklist for you to compare to at 10, 5, and 1 year out. Let’s do the 10 years out scenario today.


Money Magazine: Their target retirement saving is 12x your pay when you’re 65. At 10 years out, you should be at 7x your pay. If you’re not there yet, then you can try to boost saving or plan to work longer.

First of all, I disagree with using your current income as a bench mark. Your retirement depends on what you spend. If your expense is 50% of your pay, then you probably don’t have to save as much.  Read More…


  1. Let’s face it if you have 10 years left before retirement then there isnt much wiggle room for getting into shape.

    You can try all the different gimmicks to rectify things but you are still in horrible shape and likely f’ed.

  2. I personally thingk the idea of investing into growth stock of 50-60% is the first thing that came to mind too. Normally those retiring will invest in safer 5% returns in their portfolio but if you have nothing then growth is the only way.

    But remember, higher risk can mean potential greater losses!


  3. I hate to say it but i am going to retire in a few years and although i am not a complete disaster in my finances i am not totally comfortable and actually a tad concerned about how my retirement will go. My job has a good retirement plan but still it may not be enough.

  4. Great tips! Awesome read!

  5. Yea but what if i dont have cash to begin with to invest at all? 🙁
    I guess i better save now. Thank goodness i am still really young.

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