Six percent? Ten percent? Neither will do.
Wade D. Pfau, professor of retirement income at The American College, says a contribution rate of 15 percent is what's closer to appropriate for a 35-year-old worker who hopes to retire at 65.
And even that isn't likely to be enough.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
