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

[Anonymous]

These numbers other than HSA/retirement are pretax right? Or am I not saving nearly enough?

[Anonymous]

Anonymous wrote:These numbers other than HSA/retirement are pretax right? Or am I not saving nearly enough?

This board skews to the personal finance nerds IMO. I think if you are saving 20% of gross you should be good. You many not get there early in a career though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:These numbers other than HSA/retirement are pretax right? Or am I not saving nearly enough?

This board skews to the personal finance nerds IMO. I think if you are saving 20% of gross you should be good. You many not get there early in a career though.

Saving 20% gross is too little. Start with at least 30%, then move to 50% slowly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These numbers other than HSA/retirement are pretax right? Or am I not saving nearly enough?

This board skews to the personal finance nerds IMO. I think if you are saving 20% of gross you should be good. You many not get there early in a career though.

Saving 20% gross is too little. Start with at least 30%, then move to 50% slowly.

Wtf, 50% of my gross? And then another 40% goes toward taxes, so I'm living on 10%??

[Anonymous]

Ugh, not nearly enough. We're at about 400k HHI and only saved 20% of our gross in the past year. We had a lot of house work that had to be done and, admittedly, splurged more than we should have on weekends out of town and a couple big vacations. I'm annoyed at myself. I'm really aiming for 33% next year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These numbers other than HSA/retirement are pretax right? Or am I not saving nearly enough?

This board skews to the personal finance nerds IMO. I think if you are saving 20% of gross you should be good. You many not get there early in a career though.

Saving 20% gross is too little. Start with at least 30%, then move to 50% slowly.

Wtf, 50% of my gross? And then another 40% goes toward taxes, so I'm living on 10%??

Why do you pay 40% for tax? Pay a good CPA to help you be tax efficient. No one should pay more than 20% for tax in reality.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These numbers other than HSA/retirement are pretax right? Or am I not saving nearly enough?

This board skews to the personal finance nerds IMO. I think if you are saving 20% of gross you should be good. You many not get there early in a career though.

Saving 20% gross is too little. Start with at least 30%, then move to 50% slowly.

Wtf, 50% of my gross? And then another 40% goes toward taxes, so I'm living on 10%??

Why do you pay 40% for tax? Pay a good CPA to help you be tax efficient. No one should pay more than 20% for tax in reality.

Whoa, NP here but really? I'm not at 40% but I'm definitely nowhere near 20%. Do you have any CPA recommendations? I don't even know where to start.

[Anonymous]

$350k HHI. About $65k in retirement accounts, including employer matching and funding, $45,000 or so for brokerage and misc. dedicated saving, $5k toward an HSA that I don’t spend, and $16000 for two 529s. We also put an extra mortgage payment in each year toward principal. So all in, about a third of income. I wish we could do more but we have two kids in daycare.

[Anonymous]

I’m not really sure. We each max out retirement and get maybe 20k in employer matches? So that’s 60k a year. We make around 425/450. Mid 30s, two young kids. Between preschool, day camps, childcare, mortgage, home maintenance/furnishing, groceries, two car payments, outsourcing what we need to, and inflation- probably not saving much more than retirement and some brokerage. We saved a lot before our kids were born and have much of it in investments. HCOL area, but not DC. We live a comfortable but not lavish life. My husband is closer to our finances though so I may be off.

[Anonymous]

$44 in 401k and matches. $12k in IRAs. And another $10k for savings only. We earmark $ for big house projects separately. I wish i had HSA access when i was single and childless. Such a good savings vehicle.

[Anonymous]

HHI: $420K
401ks: $41k
Employer Matches: $28K
Backdoor Roth: $12K
529s: $12k
Post-Tax: $60K

Total: $153k

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These numbers other than HSA/retirement are pretax right? Or am I not saving nearly enough?

This board skews to the personal finance nerds IMO. I think if you are saving 20% of gross you should be good. You many not get there early in a career though.

Saving 20% gross is too little. Start with at least 30%, then move to 50% slowly.

Wtf, 50% of my gross? And then another 40% goes toward taxes, so I'm living on 10%??

Why do you pay 40% for tax? Pay a good CPA to help you be tax efficient. No one should pay more than 20% for tax in reality.

Sure, Jan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These numbers other than HSA/retirement are pretax right? Or am I not saving nearly enough?

This board skews to the personal finance nerds IMO. I think if you are saving 20% of gross you should be good. You many not get there early in a career though.

Saving 20% gross is too little. Start with at least 30%, then move to 50% slowly.

Wtf, 50% of my gross? And then another 40% goes toward taxes, so I'm living on 10%??

Why do you pay 40% for tax? Pay a good CPA to help you be tax efficient. No one should pay more than 20% for tax in reality.

Whoa, NP here but really? I'm not at 40% but I'm definitely nowhere near 20%. Do you have any CPA recommendations? I don't even know where to start.

That’s because it’s a fib.

[Anonymous]

Anonymous wrote:HHI: $420K
401ks: $41k
Employer Matches: $28K
Backdoor Roth: $12K
529s: $12k
Post-Tax: $60K

Total: $153k

[Anonymous]

We had a big jump in income a little over a year ago to $550,000, and we’ve saved $200,000 in a year (401k’s, college accounts, index fund). Once our youngest is on k next year and we no longer have a nanny hopefully that will be $275,000.