Robert Brokamp

speaker

4,580 appearances 41 recordings 3 series first heard Oct 2025 last heard 3d ago

Robert Brokamp’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 41 in all, peaking in Sep 2026 with 5.

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Motley Fool Hidden Gems Investing · Declare Your Financial Independence! · 4 Jul 2026 podcast

So I'm just highlighting that as, again, there's a basic rule of thumb, but there's a lot of research about how to customize it.

Me personally, I think 4% probably should start at 5% for most people, and then you can adjust for your circumstances.

All right, let's move on to some guidelines that get a little bit more customized.

And these are age-based guidelines provided by many firms.

In fact, most firms, I would say, have some guideline along these lines.

And in most cases, they provide the guideline as a multiple of household income that you should have accumulated by a certain age if you want to be on track to retire.

And each firm's guidelines is going to be a little different because they use different assumptions.

I'm just going to look at a couple of examples here.

Probably the most well-known come from Fidelity.

So at age 30, they think you should have one time your income saved.

So if your household income is $75,000, you should have $75,000 saved in your 401ks and IRAs.

At age 40, that multiple should be 3.

At age 50, 6.

The multiple should be 6.

At age 60, a multiple of 8.

And at retirement, it should be a multiple of 10.

Now, I'm going to give another opinion from T. Rowe Price.

At age 30, they think you should have 0.5% times your household income.

40, 2 times.

50, 5 times.

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