How much do you save as a percentage of your income?
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Anonymous
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we make $350 and save about $50K.
We believe strongly in living in the present. |
Anonymous
We are similar to you. We live on $60K (after tax) and try to save $5K/mo. in addition to the 401k withdrawals which are about $25K... so roughly $75-80K/yr saved on a HHI of about $195K. House is paid off. |
Anonymous
| That's a gross HHI of $195K. |
Anonymous
| About 20% of our gross. HHI is 300k. We each max 401k and save another 10k a year in each kids 529, so that's 57k total. We probably add 5-10k a year to our cash savings. |
Anonymous
$85,000 a year |
Anonymous
| ^^ that's 85,000 a year. a lot. |
Anonymous
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30%.
We do not live frugally, but we also do not make crazy purchases or not care about keeping costs down. |
Anonymous
| 50%, house is paid off and we both work...but this money is for our child's college. |
Anonymous
| 15% of net into retirement, inclusive of employer match. Currently putting 10-15% additional net into savings, don't expect to continue doing that when we (hopefully!) have a daycare payment in the future. |
Anonymous
It's a very nice place to be, isn't it? |
Anonymous
Can you break down what you spend the $5k/month on? We are in the same situation with a paid off house and $190k HHI, but can only manage to save $2k/month in addition to 401k. |
Anonymous
Well, you're still doing great. The big thing for us that we have to watch is the casual eating out. It's not the fancy date nights that get us; it's the "I'm tired, let's just grab dinner at Noodles" creeping in too often. Our property taxes are only about $4k per year. No car payments, public schools, one activity per child (plus Scouts), buy most of our groceries from Costco or Walmart, some from Wegman's. And then I guess we just don't do much recreational shopping--shopping is like a chore to avoid, not a way to kill a Saturday afternoon. |
Anonymous
Similar here as well. We just recently paid our house off. Live on around $55k a year for spending/vacations/property taxes/annual insurance. Currently save about 40k a year in retirement and 70k a year in cash, total of 110k although I never think about retirement and regular savings combined. However, frankly, I think our savings is excessive. The only reason it is so high right now is we were chucking at the house and that dropped off a few months ago. We need to make some decisions and meet with an advisor on how to proceed. I would like to spend maybe $20k a year on lifestyle increases (better/more frequent vacations, outsourcing some things, desired but not necessary home improvements), and maybe invest the other $50k. |
Anonymous
| It varies bc our income is so variable. We max out 1 401k, 2 IRAs, and 1 HSA. I think that comes to a total of 34k? Then we put 36k into 3 college funds. Then we invest 100k. Then we try to save whatever is left of dh's bonus into cash but we also spend a lot of it on various frivolousness (travel and home improvement projects and things like new furniture or cars come out of there) so that doesn't always happen. |
Anonymous
| 35 or 40% |