7k is about right. My average savings rate over the past 3 years has been $6k and it's increased as my salary has.
You're forgetting to include investment gains. With them, I can go on regular vacations and still reach $1m within 10 years.
Also, since someone else mentioned it, my model conservatively assumes a 4% inflation rate. Over the 3 years I've been tracking, my model has consistently underestimated the growth in my savings.
You're forgetting to include investment gains. With them, I can go on regular vacations and still reach $1m within 10 years.
Also, since someone else mentioned it, my model conservatively assumes a 4% inflation rate. Over the 3 years I've been tracking, my model has consistently underestimated the growth in my savings.