I just got my SUM 180 report. I knew I had some work to do to get my financial house in order. I wasn’t expecting to have a few things to celebrate as well. My retirement savings rate is .2% above the national average. I’ve never been so excited about being such a tiny bit above average.
My retirement savings strategy has always been, “Do what you can.” Over the last few years, I’ve been able to max out my contributions, but I still never thought it was enough. The national savings rate is 6% and my personal savings rate is currently at 6.2%.
I never knew either data point until I completed my plan. Now I have a baseline and a new goal. I know what average is and what I have to do to be more than .2% above average. I am inspired to do more and actually feel good about my financial strategies. That is definitely a new feeling.
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