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Median household wage in the U.S is 58k. 20% savings rate is hard to get but achievable.

• TheCoelacanth 9y ago
  That's the median household income which often includes multiple workers and non-wage income. Median wage is about 30k according to the Social Security Administration[1] and they should know since they are supposed to get the wages for every single worker in the country reported to them. [1] https://www.ssa.gov/oact/cola/central.html https://www.ssa.gov/oact/cola/central.html
  • conanbatt 9y ago
    Can a person earning 30k save 20%? I think its possible, and that would almost guarantee a safe retirement. Thats not even counting social security, which is very significant at that wage level.
    • TheCoelacanth 9y ago
      You said max a 401k plus 10%. For someone making 30k that's 18.5k + 3k = 21.5k which is virtually impossible for someone making 30k.