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Benefits resources: TIAA offers tips on how much you should save

Jul 25, 2016

We all agree that saving is a good idea. That's the easy part. Figuring out how to manage your expenses so you can save, or save more? That may not be so easy.

You'll be off to a good start if you follow a strategy, based on:

  • The cost of your goal
  • Your timeline
  • Your current spending
  • How much you can save/invest

Did you want a simpler answer? No problem. Here's a final rule of thumb: at least 20% of your income should go towards savings. More is fine; less is not advised.

Learn more about general rules of thumb for monthly savings and examples of different saving strategies to reach various goals across different time frames in this article from TIAA>>.

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