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 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

60, 9 times.

And at retirement, 11 times.

So T. Rowe Price starts out a little lower at the beginning, maybe recognizing that when you just start your career, you might have school loans or something, you can't save as much, but then it ramps up later on.

But another key point here is that T. Rowe Price assumes you're going to retire at age 65, whereas Fidelity assumes a retirement age is 67.

So it's really important to dig into the assumptions behind these guidelines to see which ones are more applicable to your situation.

So with all that said, Stephanie, what do you think of these age-based guidelines?

Yeah, I think that's true.

You definitely have to dig into the assumptions behind them and make sure that they are applicable to you.

In fact, I would say that some of the most value you can derive from these guidelines is reading the reports behind them because they will contain some really good retirement planning nuggets.

that really don't express, as you said, the headline of it.

And I'll just give an example from T. Rowe Price's report behind their guidelines.

They actually provide a range of where you should be at each age, and that range should depend, as you said, on your income.

And one principle here is that the way Social Security is designed is it replaces more income for lower income workers.

So the takeaway there is the more you earn, the more you have to save because you're going to get less help from social security.

And another principle they point out in their report is single folks have to save more because also they're only going to get one source of social security.

And there are some economies of scale that come from being married that you don't have when you're single.

So you have to save more.

Strongly encourage you to read the reports.

And I'll just highlight another one that I really like is JP Morgan's Guide to Retirement, which also has some guidelines in there about savings, but all kinds of interesting facts about retirement.

I think if you read JP Morgan's Guide to Retirement, you're going to learn a thing or two about retirement planning.

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