s/o How much do you (and spouse) save per year for retirement, and what is your HHI?

[Anonymous]

HHI is $300K. Save 10% in our 401Ks, which are then matched at 6% and 10%, respectively. Another few hundred per month in 529 plan and IRAs, respectively. Also money into long-term care and life insurance. Overall, probably 15-20% of our income goes into some sort of long-term investment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Interesting range of responses so far. As a % of HHI:

17%
5%
12%
16%
18%
6%
10%
13%
0%
26%

I'm the 26%, but a lot of that is match. Technically, we should be in the books for 12.5%, I think. My dad told us to shoot for 15%, but we're not quite there.

Naw, you're the 18.5% that wasn't listed cause she missed one after the 26% one. Although that guy also counted matching.

Ah, thanks. Didn't even try the math!

[Anonymous]

My 5% ($5k) includes a partial company match. Together we withhold about 3% of our $92k income.

Some folks are doing doing really well (+15% of a nice income).

[Anonymous]

Single mom with a HHI of $190K. I try to save about a third of my income and hit $50K last year. Only $22K was tax-advantaged (401K/IRA) so the rest went into various taxable accounts. No 529 savings currently since I did a lump sum in 2009, but I'll start that up again next year.

[Anonymous]

Honestly, I haven't done the math lately, especially since my husband changed jobs this past summer and I don't see the statements as frequently. We shoot for 15% of take home on a monthly basis. We make $135Kish combined (give or take -I'm PT and hourly, so my salary isn't set). We had been utilizing Roths for the past few years as our biggest savings vehicle and were maxing those, plus some money in a couple other places/investment vehicles. His last company didn't offer retirement plan benefits, but paid our health care premium in full - it was a trade off. Anyway, he now has a plan at work (I think it is Roth 401K?) and we are maxing that per paycheck. I still have my Roth and a small Simple IRA through my employer. I don't even count matches because they aren't guaranteed per year. They are just icing when they happen. Oh, and whatever interest/gains we realize from rollover accounts from past employers.

We have to have a meeting with our FA soon - I'll have the more specific numbers by then

[Anonymous]

Roth poster from p 1 here. Yes ours are both 401k Roths.

[Anonymous]

Anonymous wrote:HHI is $300K. Save 10% in our 401Ks, which are then matched at 6% and 10%, respectively. Another few hundred per month in 529 plan and IRAs, respectively. Also money into long-term care and life insurance. Overall, probably 15-20% of our income goes into some sort of long-term investment.

Ten percent 401K match? Holy shit! Hire me please. I can do whatever you need! Econometrics?! Check! M&A? Check! FP&A? Check! Strategy? Check! Ops? Check! Make coffee? Check! Clean your bathroom? Check! For ten percent I'll do it all!

[Anonymous]

Last year our gross was around 130k. We saved about 18k (10k in Roths, the rest in tsp) not counting tsp match. We have a toddler in daycare and student loans. It was difficult. I would like to do the same this year on 135k but don't think it will happen.

[Anonymous]

HHI is about $245,000 and we save about $37,500 including match. About 15%. I'd like to up that because we both recently got raises, but we have higher than normal expenses for the next few months, so it will need to wait.

[Anonymous]

160,10%

[Anonymous]

Anonymous wrote:We save about $45k/year in retirement accounts (2 401ks, 2 IRAs) on about $270k HHI. We are considering a career change that will reduce our HHI by at least $100k. Obviously, that's still going to be a lot of money, but just wondering what people are saving for retirement at different income levels.

The amount we save has depended on our income (of course), our age, how much we have saved, what age we want to retire and how much we think we will need. PLus, some people do not have to save as much if they have a defined benefit pension plan.

Currently, DH has a defined benefit plan and for planning purposes we are using 50% of what the promised payout will be in our planning. We also set 50% of expected SSI income in our plan. We both have small pensions from previous employers that we have not added to our calculation. We are currently near age 50. We currently have $1,000k saved in IRAs/401k types programs. We have quite a bit of house equity that we will use in retirement (planning to move to a lower cost area), current estimate is that we will have ~$500k more after buying a home elsewhere.

We currently have two children in or near hs, so we are also saving for college.

In both, college and retirement, we have met the benchmarks for our "minimum needed" and are up into the "I would rather be", not quite into the "it would be really nice range". We have enough for both to attend in state universities. We have enough for one to go private or out of state. It is fairly likely that one or both will go in the in state route, but we are still saving in just in case. We are in NoVA and the in state route is more difficult than getting into similar or even higher ranks schools out of state.

So, we still add to DH's 401k to get the employer match. Then we add to a "retirement/college" fund since so those dollars could go either way. I currently do not have an income, our HHI is ~$180k and between everything we save ~$25k a year not counting the extra we put towards our mortgage. We also donate 5-7% of our income. We are frugal people and bought in 1997 with a hefty down payment, so our mortgage is small for these parts, even after a major reno. If current sales are an indication, we owe about 20% of our house's current worth.

[Anonymous]

Just want to say: I love that I can come to DCUM to talk about money since it can be tough to talk about in real life. I've learned so much.

[Anonymous]

HHI is $300k and we save 10% ($30k). I'm a fed, so I'll have a pension.

[Anonymous]

This is me.

https://www.networthiq.com/people/dcguy

[Anonymous]

We make ~320K per year and are saving about 125K per year in 401K's and other retirement vehicles. This is with matching from our companies which is very substantial. About 95K w/o matching.