How Much Should I Save and Consume? Two approaches are suggested: 1.Target replacement rate of pre-retirement income 2.Maintain the same level of consumption spending .THE COURSE OF FINANCE 2017 SPRING SJTU 5How Much Should I Save and Consume?  Two approaches are suggested: 1. Target replacement rate of pre-retirement income 2. Maintain the same level of consumption spending •THE COURSE OF FINANCE 2017 SPRING SJTU •5