Saving 12 % is difficult at my current income. The only thing I could cut is my occasional eating out.
Eating should be the first thing cut. It kills your waist, weight, and ages the **** out of you.
12% is bare minimum. I am 30. Home owner. No gf/wife. Bachelor lifestyle. If you can t do it now. Get a better job.
The notion is that is 10% is the norm. 2% to cover inflation. A good biz that matches your contribution is ideal.
I do both. I invest money and work does the same. Sears is a good warning to the people who rely on their biz to do the pension.
My current plan is to increase my income and then try the 20/50/30 plan where I save 20% of my income, use 50% for necessities, and spend 30% on lifestyle.
Every investor who dud it right will tell you to diversify portfolio.
I am no advisor. I can suggest that you have a plan matched through your work.
If it comes off your pay and you don't even see it, you are better off but you must watch it. I do that. Work matches + and I top up whenever possible. I invest in property, real estate, btc too.
Before forty, I want in o. Land lording. I want streams of income. 30% on fun seems excessive. I am practicing minimalism. No eating out. Cooking from scratch. Cutting out miscellaneous expenses and unnecessary costs.
I'm the words of Dave Ramsey, beans and rice. Rice and beans.
Seriously, avoid marriage, single mom's or playing house with women in debt.