Recently, a financial website in the US stoked a debate about ideal savings goals for millennials. How much should the average millennial be able to save, it asked, and offered a solution. It said, a person should be able to save 1x their income by 30, and 2x their income by 35.
Let's understand this better. It means that if your income is Rs 5 lakh at 30, you should have saved Rs 5 lakh by 30. And if your income at 35 is Rs 10 lakh, you should have saved Rs 20 lakh by that age.
