3 ms·
It's probably more drastic than that. Simple math: if you have a savings rate of 20% right now, you would double your savings rate with a 20% bump. This would
by phamilton 8y ago
It's probably more drastic than that.
Simple math: if you have a savings rate of 20% right now, you would double your savings rate with a 20% bump. This would halve your time to retirement.
Taxes/differences in savings rate/etc change the math, but the principle is the same: an increase in salary is a disproportionate increase in disposable income.