Do I need to put away more?
I’m 25, started a new job making 80k (accountant) and want to make sure I’m good for retirement. I have 50k in retirement accounts. (Most in a Roth, and some in a traditional IRA from my last employers 401k plan, and I will be contributing to my current employer’s 401k plan. For now, I was gonna just contribute to the match which is 5% and then max out my personal Roth IRA. Technically, this isn’t 15% of my total income which is 120k (me and my wife’s income combined) is this enough? Everything is so expensive nowadays it pisses me off. We are homeowners with a hefty rainy day fund and no debt other than mortgage. I plan to always have some sort of a job even after retirement. (I can’t just not work at all) am I underfunding for retirement, or do I need to crank it up? Thanks