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

[Anonymous]

We have $400K HHI. We easily save around 250K. We live well but below our means. We have no debt. And our house is in a not expensive neighborhood.

[Anonymous]

$250k including $50k employer 401k contribution.
On top of the 401k:
$14k post tax for ROTH IRAs
$25k post tax to brokerage fund

[Anonymous]

Anonymous wrote:We have $400K HHI. We easily save around 250K. We live well but below our means. We have no debt. And our house is in a not expensive neighborhood.

What is your post tax income?

[Anonymous]

Anonymous wrote:We have $400K HHI. We easily save around 250K. We live well but below our means. We have no debt. And our house is in a not expensive neighborhood.

That's stupid. No you don't. That's like the entirety of your post tax income. So unless you live in a tent and dumpster dive your food, you are full of it.

[Anonymous]

We will make 300K this year and are projecting that we will save 100K for the year. We are almost there. We live below our means and live in a house none of our friends would live in, but it works great for us.

If the market corrects enough and we find something reasonable, we will buy a new house and rent this one out.

[Anonymous]

Anonymous wrote:$250k including $50k employer 401k contribution.
On top of the 401k:
$14k post tax for ROTH IRAs
$25k post tax to brokerage fund

What type of employer provides such generous 401k ?

[Anonymous]

Here we are:
Max 401Ks (20.5K each)
I'm a business owner so an additional 25K 401K contribution
Stock account 25K

Then I have a bunch of small business tax things - vacations that are also business expenses (10K), car (50K).

So 150K+

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have $400K HHI. We easily save around 250K. We live well but below our means. We have no debt. And our house is in a not expensive neighborhood.

What is your post tax income?

It's possible if you are agreeing about your tax savings. In theory we made 400K. I did some last minute tax moves to get that down to 300K.

My husband is active duty so 50% of his income is non-taxable. Again, in theory we made just about 500K but not after tax strategies are applied.

[Anonymous]

For calendar year 2022:

We make $370k.

$41k into 2 tax advantaged retirement plans, plus $27k in employer matches.

$24k into 529s.

$40k in I bonds.

$24k into our brokerage.

$156k total this year if you include employer match. We don’t usually buy I bonds, but the interest was too good to pass up this year.

We paid $22k in principal this year and I got $33k in student loan forgiveness after 20+ years in public service so those definitely made a difference in our balance sheet as well.

[Anonymous]

Not enough. We reached 320k this past summer (salaries, we won’t get bonuses), 2 kids 8 and 10 year old, we are early 40s. PITI 2500$.

We are very lucky and our 529s have been fully funded by grandparents’ donations.

And with all that we:

- Max out our 401k and Roth 401 = 44k a year. I also contribute 15% of my net to pension fund = 22k
- pay out a 35k car (700$ a month)
- invest in a rental apartment that is being built (20k a year)
- have an emergency fund of 40k (jobs pretty secure)


Writing this down I realize how pathetic it is.. with fully funded 529 and no more daycare bills we should be saving more than our retirement and that small investment property. We travel a lot, kids do tons of activities and tutoring, we have recently gone a bit into lifestyle creep with fancy home gym equipments, ski lessons, home remodel etc..

Time to redo our budget and set better goals !

[Anonymous]

Both max out 401ks, 12K in savings bonds, $8K in 529.

[Anonymous]

Anonymous wrote:For calendar year 2022:

We make $370k.

$41k into 2 tax advantaged retirement plans, plus $27k in employer matches.

$24k into 529s.

$40k in I bonds.

$24k into our brokerage.

$156k total this year if you include employer match. We don’t usually buy I bonds, but the interest was too good to pass up this year.

We paid $22k in principal this year and I got $33k in student loan forgiveness after 20+ years in public service so those definitely made a difference in our balance sheet as well.

Can someone share more about the ibond strategy?
We are similar in HHI and savings, and any extra $10-$30k goes into a brokerage. Should we consider ibonds?

[Anonymous]

Anonymous wrote: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.

That's kind of a dumb way to think about finance lol

[Anonymous]

2021 data…

Grossed about $480K
6K to 529
26K to 401K
35K to deferred comp plan
58K to brokerage
34K to spouse’s Solo 401K

So $159K of 480K saved or 33% of gross

[Anonymous]

Anonymous wrote:

Anonymous wrote:$250k including $50k employer 401k contribution.
On top of the 401k:
$14k post tax for ROTH IRAs
$25k post tax to brokerage fund

What type of employer provides such generous 401k ?

government contractor company - almost all SMEs