So if you haven't read the millionaire next door, I highly recommend it. In the book the authors provide metrics for the amount of money you should have saved based on your age. The book indicates you are either a UAW (Under Accumulator of Wealth), AAW (Average Accumulator of Wealth), or a PAW (Prodigious Accumulator of Wealth). From these different descriptions they provide interesting stereotypes about each. I found the book very entertaining and well worth the read. My main complaint about the scale is that it is biased toward the later years of retirement. New graduates should not be expected to meet these marks, but over time the scale should come into a more manageable number.
The Targeted formula from the book is:
Target Net Worth = Age X Annual Pretax Income /10.
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