Did you have 3x salary in retirement by 40?

[Anonymous]

No. I didn't start putting money into my retirement account until I was 36 and had a real job (PhD). I still don't have 3x at 46, but I'm on track to be ok in my retirement.

[Anonymous]

Anonymous wrote:Our HHI is quite variable but roughly averages $400k a year. By 40 we had $3M, but we live on $12k/month ($144k/year) which is how we are able to save so much.

Do you have kids? Seems like it would really hard to live on that much with kids if you want a decent lifestyle (in a HCOL area).

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our HHI is quite variable but roughly averages $400k a year. By 40 we had $3M, but we live on $12k/month ($144k/year) which is how we are able to save so much.

Do you have kids? Seems like it would really hard to live on that much with kids if you want a decent lifestyle (in a HCOL area).

NP. You are out of touch. I have kids. I am divorced and live on that much. I have 5x my salary saved at 46. I have 270k in my house and 100k in investments. People around here spend way too much.

[Anonymous]

I did. And then I took a big promotion at 41, and so now at 43, I’m behind again. But that promotion gave me money to do other non-retirement things with my money. It all nets out in the end.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our HHI is quite variable but roughly averages $400k a year. By 40 we had $3M, but we live on $12k/month ($144k/year) which is how we are able to save so much.

Do you have kids? Seems like it would really hard to live on that much with kids if you want a decent lifestyle (in a HCOL area).

Yes. A 16 yo and a 13 yo both in competitive extracurriculars. Our mortgage is reasonable ($3500/month) because we bought in 2013 and we pay cash for cars and don’t have any other debts. We take several nice vacations a year, paid partially in credit card points. It’s a very nice life.

[Anonymous]

No. We probably had around 2x at 40. Now she 44 and hoping to get to 3X at 45. Actually, I personally have a bit more than 3X my salary but my spouse makes much more than me and has a significant increase in compensation the last few years. So as a couple we are not at 3X yet.

[Anonymous]

Anonymous wrote:No. We probably had around 2x at 40. Now she 44 and hoping to get to 3X at 45. Actually, I personally have a bit more than 3X my salary but my spouse makes much more than me and has a significant increase in compensation the last few years. So as a couple we are not at 3X yet.

Me again. Now age 44. Dumb autocorrect

[Anonymous]

We had about 2x at age 40 for both of us. Ramping up now saving 25-30% a year to retire at age 60.

[Anonymous]

Yes, I had but because my salary was very low. My investments grew very fast the last five years and I'm dropping out of work force altogether.

[Anonymous]

No, I was not quite 2x my salary at 40 because I got a PhD which set me back a bit plus there was a bit of the lost decade of investment growth. But now at 54 I'm at 9x so I'm back on track and even ahead of benchmarks.

[Anonymous]

Yes my husband and I have just about 4x our combined 300k HHI in retirement accounts and brokerage accounts now at 40, plus 600k in real estate equity and 100k in emergency (a year of expenses as we are self employed). We just started early and invested regularly but never had a high income until recently. Working hard to save and invest 40% of our income now without sacrificing too much of life in the present.

[Anonymous]

Yes my husband and I have just about 4x our combined 300k HHI in retirement accounts and brokerage accounts now at 40, plus 600k in real estate equity and 100k in emergency (a year of expenses as we are self employed). We just started early and invested regularly but never had a high income until recently. Working hard to save and invest 40% of our income now without sacrificing too much of life in the present.

[Anonymous]

Anonymous wrote:Our HHI is quite variable but roughly averages $400k a year. By 40 we had $3M, but we live on $12k/month ($144k/year) which is how we are able to save so much.

How humble. You are very responsible

[Anonymous]

Is that a thing? I went to grad school late and have recently made 300K+ a year. There is no way even when I can exceed the contribution limits for me to get there.

[Anonymous]

Anonymous wrote:Is that a thing? I went to grad school late and have recently made 300K+ a year. There is no way even when I can exceed the contribution limits for me to get there.

These are benchmarks for savings earmarked for retirement which for most people will be in designated retirement vehicles, but for someone in your situation might include taxable investments too.