A lot of wisdom in this piece. Thanks.

However, one thing I have to take issue with is the advice to set aside 10% of your income toward retirement. That’s nowhere near enough.

I’ve done the math (see article linked below), and if you save and invest 10% of your income and want to have in retirement 90% of that income, you will need over 50 years (!) to get there (assuming you have nothing saved yet).

I put together a matrix of % of current income invested vs. % of current income desired in retirement, showing how many years each combination will require. Here are a few example combinations:

• To cut a decade off the above-mentioned half century, you need to save and invest 18% of your income and plan on living in retirement on no more than 82% of your current income.
• To get down to 30 years, plan on investing 30% of income and replacing 70% in retirement.
• Dropping under 20 years requires living on 50% of current income both now and in retirement.

How Soon Can You Reach Your Personal FIRE Point?