A reader asks: On this week’s show you discussed lifestyle creep and that one way to mitigate it is by maintaining or increasing your savings rate. Are you aware of any frameworks on how to determine a ballpark target savings rate? Every year my wife and I create an annual budget that outlines the actual cash we receive from our paychecks and annual bonus (after 401k, taxes etc.), we set a target savings rate and th...

source: https://awealthofcommonsense.com/2024/05/whats-the-right-savings-rate/