Retirement Savings – What Should the Goal Be?

One of the financial blogs I visit frequently is The Simple Dollar, and I recently came across a post that contained a formula regarding how much each of us should save for retirement.

Presently, with each month’s budget we all should save 15-20 percent (15% for retirement and 5% for a cushion account for emergencies and dreams); however, how can we be sure that this will be enough for the time when we choose to retire?

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