I have a small financial confession to make. I have no idea what it means to save 10% of your income. Ok, let me clarify. I know what 10% of my income is. And I know that financial advisors seem to say that you should pay yourself first and save 10% of your income. My question is this: What is that 10% for? Does that 10% include the 5% I put into retirement savings? Or should I be saving 10% in addition to that? Let's assume that it … [Read more...]