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8 Strategies to Save for Retirement

By Robert Brokamp, CFP – Updated Jul 3, 2024 at 10:23AM

Key Points

  • Save 15% of income annually for retirement, considering longer lifespans and diminished pensions.
  • For late starters, save 25% if over 40, or much more to retire early like in the FIRE movement.
  • Limit spending on housing, cars, and food waste to increase your retirement savings effectively.
Key findings are powered by ChatGPT and based solely off the content from this article. Findings are reviewed by our editorial team. The author and editors take ultimate responsibility for the content.

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