How much should I save?
Mar 2nd, 2007 by complex001
I have just consulted my IFA to give me some idea in response to my question and to point me in the right direction. The objective of our meeting was to establish my affordability. Although the answer to “how much should I save” is different for everyone, there are some guide-lines to help with this issue. Roughly speaking I should invest 10% of my regular monthly income towards short-term savings up to five years. These funds should be accessible easily and used mainly in emergencies. For example, medical problems. Another 10% of the monthly income should be invested on a medium to long-term view basis for five to ten years and used for your long-term objectives like buying a home.