How much do you make and save per year?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Single. Income around $180K. Save $140K per year, which is all my income after taxes. Lucky to get an annual gift from parents that covers all my living expenses so I save 100% of my income.

This is my favorite answer. Stuff that in your pipe and smoke it.

Why? Wierd. I’m never impressed by these answers.

I wasn’t impressed by it. I was amused by how ridiculous it was.

[Anonymous]

Our salary is 485K and we save 216K. Both 44 & 48. We paid off our mortgage a 3-4 years ago.

- 401k ~ 45K
- 529 ~ 27K
- BD Roth ~ 12K
- Stock ~ 72K
- Saving ~ 60k

Looking at these numbers, we could increase 529 contributions and decrease cash savings.
DH & I want to retire early but have younger kids, so we will see. We also have a rental property that will be pay off in a few years that I have no included here to keep things simple.

Our major expenses are travels, foods and kids activities. I believe that we live a bit under our means but not by a lot.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI 750

- 401k ~ 45 (+60 matching)
- 529 ~ 70
- BD Roth ~ 13
- Taxable ~ 250-300

Savings rate ~ 55% gross

I don’t see how this is possible. Taxes are going to take most of the other 45%. What do you live on?

Federal taxes are about 30%, no state income tax. We spend about $150k per year, or about $12k per month.

This still doesn’t make sense or add up.

[Anonymous]

Anonymous wrote:Our salary is 485K and we save 216K. Both 44 & 48. We paid off our mortgage a 3-4 years ago.

- 401k ~ 45K
- 529 ~ 27K
- BD Roth ~ 12K
- Stock ~ 72K
- Saving ~ 60k

Looking at these numbers, we could increase 529 contributions and decrease cash savings.
DH & I want to retire early but have younger kids, so we will see. We also have a rental property that will be pay off in a few years that I have no included here to keep things simple.

Our major expenses are travels, foods and kids activities. I believe that we live a bit under our means but not by a lot.

Of course you’re living far below your means. You’re saving over 40% of your gross income. Your perspective on it is why you’ll build great wealth. You pay yourself first through savings and then you live on what’s left. Well done.

[Anonymous]

Anonymous wrote:I invested about $1000 a month for about 15 years. I don't save anymore. I invested in high growth stocks and there is no need to save more.
I scaled down to working part time because of my investments.

so how much do you have now under this investment strategy? Curious because I want to pursue this strategy too.

[Anonymous]

Anonymous wrote:I make $100k and have saved $25k per year the last 2 years.

Excellent self control. Good for you!

[Anonymous]

Anonymous wrote:Single mom of 1. I save $32k per year, salary and child support total $124k.

That’s excellent. It’s not easy to come out even as a single mother never mind save a large amount of your income. It’s impressive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I invested about $1000 a month for about 15 years. I don't save anymore. I invested in high growth stocks and there is no need to save more.
I scaled down to working part time because of my investments.

so how much do you have now under this investment strategy? Curious because I want to pursue this strategy too.

Timing is everything.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make $900k-$1M between the two of us. We save about $200k/year. Around $90k to retirement accounts (I own a business so I can get $66k/year), $40k to brokerage, $40k to cash savings/short term and $40k to 529 plans.

This is really bad.

How is saving over 200K per year "really bad." Are you trolling or bad at math?

If we assume 25% to taxes, PP is spending $500,000 a year. That's what is really bad.

I'm the PP with HHI $1M. Also the PP who was impressed with the 55% savings rate of the couple making $750k. I do feel like my spending is out of control but also, man, my kids are growing up and I want to travel with them and enrich them and have them grow up in a great home where all their friends want to come. I also have only made this level of income for a few years (expect it to continue and grow) so I'm also finally doing things I never used to do for myself. Self-care stuff, nice clothes and shoes. Home renovations to make it a nicer place to live and entertain family and friends. I've loved doing stuff for the people I love, too, like taking my mom on girls trips, doing really nice teacher gifts and sponsoring stuff for the kids' schools, throwing parties for our neighborhood. Makes me feel good. So I sock away 20% of our income and blow the rest. I do feel it's less than I should be doing but then again, just had a friend of my parents' die in his mid-60s and man it sucks. I sort of feel like I'm in my prime spending years right now with the three kids all still at home and wanting to make lots of extraordinary memories with them and just enjoy life. Mid-40s. I want to be responsible with my money and save it but also want to live well right now. I'm probably undersaving, but I do love my job, so plan to work for a long time and hope my expenses will be less when I'm older and the kids are on their own.

I agree with your reasoning. What do you do for a living?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Single. Income around $180K. Save $140K per year, which is all my income after taxes. Lucky to get an annual gift from parents that covers all my living expenses so I save 100% of my income.

This is my favorite answer. Stuff that in your pipe and smoke it.

I don’t know. I think they need to loosen up and have some fun. Prob lives with parents. Go out there and live your life son!