Final answer:
JL Collins is known for discussing personal finance within the realm of Business, and while he advises saving a significant portion of income, without specific context, an exact percentage of his personal savings cannot be determined. To calculate a general savings rate, divide the amount saved by after-tax income and multiply by 100%.
Step-by-step explanation:
The question about what percentage JL Collins saves concerns personal finance, which is a subject within the field of Business. Since JL Collins is an author known for his book on financial independence and investing, the saving percentage referred to is likely to be a concept mentioned in his
writings or talks. However, without specific context or reference to a document or talk where JL Collins discusses his savings rate, it is impossible to provide an accurate answer. Generally, in discussions of personal savings, the percentage saved is calculated as the portion of after-tax income that is not spent on living expenses.
If you are asking about a specific recommendation that JL Collins makes to others regarding savings, he is known for advising individuals to save a significant portion of their income to achieve financial independence. His exact recommended percentage can vary based on the individual's circumstances and goals. In his well-known 'Simple Path to Wealth,' Collins suggests saving as much as 50% of your income.
To calculate a savings percentage, you can use the formula: Savings Rate = (Amount Saved / After-Tax Income) x 100%. Remember that the key to personal savings is consistency and adjusting rates according to personal financial goals and life situations.