Does The “Perfect Save Rate” Exist? I Figured It Out
The Money with Katie Show
00:00
The Right Age to Make a Career Change
According to Zippia, the average age when someone makes a major career change is 39. Big changes in income producing activity first occur somewhere between ages 30 and 39 or at 34 and a half if we want to split the difference. If you begin work at age 21 that puts the midpoint of our range age 34 at right around 13 years. Now which save rate allows you to reach total financial freedom in just 13 years? The answer is 55% and hey total financial freedom that's great. But what if instead by year 13 we just aimed to be halfway there because thanks to compounding the halfway point is actually closer to 75%.
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