Beating the Bear Market: Saving Some of Your Income

Today’s words of wisdom from Paul Farrell’s MarketWatch article on ten things that can help you beat the bear market are rather simple: save. Farrell recommends that you set aside 15% of your income in some sort of savings, whether it’s retirement accounts, stock investing or some other vehicle. But he also says that 10% should be the minimum:
Here are two key formulas to remember: One, if you’re not saving at least 10% then you are spending too much. Two: Nothing saved equals nothing invested equals nothing compounding equals nothing in your retirement nest egg.
You can’t beat the bear market, …read more