Retirement
Sunday, November 4th, 2007A rule of thumb for how much you should have when you retire is to have 20 times your expected expenses in retirement.
Archive for the ‘Personal Finance’ Category
Savings
Sunday, November 4th, 2007A rule of thumb for how much you should save is about 10% of your take-home pay…if you start early enough. If you are over 40 and haven’t accumulated a sizeable nest egg, you should try and increase this amount to 30%. This rule of thumb should help you build an emergency fund, save for a house, etc.
How much house can you afford?
Sunday, November 4th, 2007A rule of thumb for how much house you can afford is that you should try and keep the purchase price of the house less than 2.5 times your GROSS annual income. (Good luck in 
Mortgages
Sunday, November 4th, 2007A rule of thumb for mortgage payments and mortgage size is that every $200,000 borrowed, your monthly mortgage payment will be $1,000. This rule of thumb is loosely based on a 5% mortgage rate and a 30-year mortgage.