Our Personal Finance blogs are filled with topics like Save for future, Save for retirement, Save for emergencies. This is the basic mantra of all financial advisors. But how much should everyone save? What i should save need not be the same as what you save as our situations are quite different.
So here is what i learnt from reading some blog about how much each one should save depending on one’s situation
1) Employee with regular monthly income should have 15% of your annual income in the savings
2) Self employed or freelancers whose income fluctuates should save at least 20% of their annual income.
3) Retired Personnels should save 30 % of their annual retirement income.
4) If a person is at a risk of losing ones job then its better to have at least 40% of ones annual income in savings.
Apart from this, its also important to have an emergency fund. Have you saved enough to have a secure future? If not, start right away.
