Laurie Rowley, CEO & Co-Founder at Icon, explains how much you should be putting away for retirement.
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00:00It's a good question about how much everybody should save.
00:02I think it's an individual sort of experience that we all have to do.
00:05A lot of companies will throw out a number like your number is 2 million or 3 million.
00:10Those are really high numbers for most folks.
00:13Look, I think if people are saving between 7% and 10% of their annual income starting early and they save through their entire work life, I think that will set them up for a better outcome.
00:25I would stay away from saying exact dollar amounts, but just think of it as a percentage, right?
00:29As you think about, oh, I'm going to spend this much money on food and housing, et cetera, allocate that amount that you're going to put into your own personal financial wealth building.