$300K+ income households, how much are you saving per year?

[Anonymous]

By saving, I mean all contributions to retirement and non-retirement accounts (including employer match), I bonds, extra mortgage principal payments, rental property purchases, etc. (Personally, I even count the P in PITI as part of my savings for the year.)

So how much are you saving these days with everything so expensive? Would be helpful to know your income as well.

[Anonymous]

We make 92K. We saved 15K each in our Roths, added 8K to our HSA and 6K to my husband's 401K (the company only adds $1K total). So 44K total this year.

We don't have a mortgage and only have one kid in the house. We also already have their 529 funded which is why we can save so much.

We've always been frugal on a relatively low income. We will save less next year because our DC is going to a private HS.

[Anonymous]

Oh sorry! I'm the PP. I didn't notice you were asking 300K+ households only.

[Anonymous]

About 1/3rd savings, 1/3 taxes, 1/3 spending. Did this from when income was 250,000 up to 500,000.

[Anonymous]

We recently got over 400 between salaries and bonuses. Early and mid 30s adults no kids yet

We both max our 401ks (~40k)
We only have one car since I walk to work and spouse wfh. Our last payment is December.
We save ~$7k a month from our salaries (~85k).
We save our bonuses, which have been increasing every year. This year I think we’ll total ~$80-100k in bonuses (~50 net)

Seems decent. Paid of $200k of student debt so finally have some breathing room.
So like $175k annually. Finally paid off $200k+ of student loans so

[Anonymous]

Combined income of $500k. We were saving 1/3 but just decreased that to 25% with the addition of a kid and inflation.

New breakdown:

25% savings ($125k)
33% taxes
41% spending

[Anonymous]

We max out our 401k and our Roth IRAs and then save about $2,500 a month, so I guess with employer match that gets close to 1/3.

[Anonymous]

Make a couple million a year (recently). Live on ~5% of net income, save / invest the rest. Not sure what else to do with the money. We have no desires to spend or buy other things / experiences.

[Anonymous]

250k and 320k income
Two max 401k one mega Roth 65k before match for retirement. 7k HSA to be used as retirement tool.

IPO stocks from one employer value is wild

5k/mo goes into long term investments. We save what we don’t spend , but that doesn’t count because we eventually use it toward a car of vacation or home improvement when needed.

[Anonymous]

Not enough. We save around $30K in our TSPs. We also have separate non-Roth IRAs, in which we save around 12K total. We have a child with disabilities in a specialized private school that is $$$. Also, a number of his therapies are not fully covered by insurance. I don't see how we can save more at present.

[Anonymous]

$325HHI and we save about $52k in retirement, $15k in 529s, and $10k in a brokerage. It’s about 23% and I feel like it should be more but our spending has been high lately.

[Anonymous]

We're about 350K.

DH maxes out his 401K.
I 2/3 max mine out.
DH gets about $45K in stocks each year that are on a cycle of vesting, which we do not touch.

The market is really kicking our butt right now. We save about 90-100K a year, but looking at our savings spreadsheet is depressing, because last year looks like we saved about half of the year before, even through we basically saved at the same rate.

[Anonymous]

DH makes about $350k a year although 75-100 of that is paid as a bonus. I make peanuts as a substitute teacher (SAH for 14 years.) We put the maximum in his 401k (no match) and also fully fund 2 IRAs. We save $1600/month in 529s split between two kids. We also save a chunk of each bonus each year - at least $30k or so and more depending on the year.

I personally think we save too much and our life is fairly austere given our income, but DH disagrees and he’s the main earner. (But that’s a relationship issue more than a money one.)

[Anonymous]

We just started making 400k (365k in base salary) and this year we will have saved 90k, not including principal paid on our home. This includes 18k per year towards two little kids college savings. Neither of us get employer 401k matches. I’d love to get our savings up to 1/3 total income.

[Anonymous]

I don’t really count employer match as savings — it’s not like I could spend that if I wanted to. I also don’t count my small pension as savings. Nor, for the purposes of this reply, am I counting cash I keep in the bank — only counting what we move into investment/529/retirement/iBond accounts.

So by that standard, we have been saving about 19 percent of our gross up to now. But we also just now both started qualifying for bonuses at our jobs, neither of which we have yet gotten, and we’ll likely save all the non-taxed portions of those, which will kick our savings rate up to around 25 percent.