Question

Jeff is 22 years old, just started his first job, and knows he should start saving for retirement. He wants to divide his investments between stocks and bonds. Give Jeff specific asset allocation advice (using percents) and briefly explain why you are suggesting this plan.

Answer 1

It is advisable that Jeff should begin to save about 5% of his income to serve as his retirement plan.

Why do you save for retirement?

Retirement refers to such a time when one is no longer involved in actual work. It is important that a person ought to save up some money for use via a retirement plan.

It is advisable that Jeff should begin to save about 5% of his income to serve as his retirement plan since he still has many years of work ahead of him.

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