A quick question on saving amounts

boomsmitty

Hello

I'm new to the forums and learning a lot already! A great resource.

I have a question: it's been recommended that I should be saving roughly 15% of my income per month towards retirement (I'm 32 so maybe should be a little more, but for the sake of argument let's keep it at 15%). Now, with my work pension I pay 6% and my employer matches the 6%. Effectively, I have 12% going into my pension each month. Do I include the employer's 6% in my 15%? Or is it just my 6% and I should be adding another 9% in another form?

Ideally, I want to have that 12% going into my pension and have a separate account where I save 10% of my wage into each month. Does that sound about right?

I don't want to get all deep with the numbers, goals etc. - I just want to know if what I've said above about my employer's 6% being part of the 15% is correct or not.

Thanks!

MallyGirl

You include the employer contribution in that very rough rule of thumb.