How much do you make and save per year?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We make about 500k. We max out retirement and get employer matching. We’re saving about 60k a year. Honestly I’m not sure how much were saving beyond that; my husband mostly manages our budget. This thread reminded me to check in.

We’re in high cost years with young kids, tuition and a nanny. We saved a lot before we had kids and have a good nest egg in savings and the stock market so we feel okay about things.

saying you saved a lot before kids while in the same breath saying you currently save 60k/year makes you sound so horrendously out of touch with reality.
60k IS a lot.

I mean, relative to others on this thread who are saving 150k+, you’d think we were saving peanuts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We make about 500k. We max out retirement and get employer matching. We’re saving about 60k a year. Honestly I’m not sure how much were saving beyond that; my husband mostly manages our budget. This thread reminded me to check in.

We’re in high cost years with young kids, tuition and a nanny. We saved a lot before we had kids and have a good nest egg in savings and the stock market so we feel okay about things.

saying you saved a lot before kids while in the same breath saying you currently save 60k/year makes you sound so horrendously out of touch with reality.
60k IS a lot.

If PP made $100k, she'd be saving a lot. She makes $500k, and so is saving around 12%. That isn't a lot.

It's silly to use raw savings amounts without looking ate savings *rates*. And it's asinine to get snippy with someone because they make more than you do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI roughly 790k this year, saved $253k this year.

Higher than normal.

rounded numbers YTD:

$100k Trust
$70k between our 401Ks (DH is self employed)
$14k 529
$25k Cash
$3.8k HSA
$40k Mortgage payment

Next year our income may be a lower so i am aiming for: 150k all in savings

Curious why you are counting Mortgage as saving?

I made a principal payment towards our mortgage. My loan is fixed for 30yrs but IO for the first 10 yrs so i wanted to make a principal payment which directly reduces my monthly mortgage payment in perpetuity (and immediately).

Ok, this makes sense. Good for you!

The *real* answer to this question is that PP is insecure about the amount being saved, thinks it is too low, and uses mortgage payments to pad his or her stats.

Whatever makes you feel better.

[Anonymous]

I invested about $1000 a month for about 15 years. I don't save anymore. I invested in high growth stocks and there is no need to save more.
I scaled down to working part time because of my investments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make about 500k. We max out retirement and get employer matching. We’re saving about 60k a year. Honestly I’m not sure how much were saving beyond that; my husband mostly manages our budget. This thread reminded me to check in.

We’re in high cost years with young kids, tuition and a nanny. We saved a lot before we had kids and have a good nest egg in savings and the stock market so we feel okay about things.

saying you saved a lot before kids while in the same breath saying you currently save 60k/year makes you sound so horrendously out of touch with reality.
60k IS a lot.

it is not really a lot for someone making 500K. Even wtih the nanny and "tuition" whatever that is, they are really blowing a lot of cash.

Pp here whose savings you’re commenting on. Agreed we’re not really saving a lot. I think we put some into brokerage. We lived in a small apartment frugally pre kids and saved a lot, most of which is still in the market and brokerage accounts.

Our PITI now is just over 4k. House is old and has required expensive maintenance and some renovations. Two kids in private preschool. One has some special needs and has some extra therapies and medical costs. Nanny because we both work. HCOL area- even a cleaning service twice a month is $$. Camps and transportation are $$. One nice week long, domestic family vacation per year and one weekend away just me and my husband. Any other trips are to the grandparents or with them. We spend too much on groceries and takeout because we’re tired and busy. We decorate our house slowly and try to buy decent quality furniture that we can buy once and buy well. Slowly renovating our pre-war home. Lots of birthday parties, family celebrations, teacher appreciation and counselor tipping where we’re spending money on gifts and that adds up quickly. So all in all, a nice UMC life but nothing like an impeccably furnished, ostentatious new construction house you’d look at and think “ah, well that’s where the money goes.”

Life in a HCOL area with kids is just expensive. Preschool, camp, nanny, one nice vacation a year and home improvements are our biggest luxuries. But yes- should figure out where to cut back. Just a glimpse at how 500k can go quickly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI roughly 790k this year, saved $253k this year.

Higher than normal.

rounded numbers YTD:

$100k Trust
$70k between our 401Ks (DH is self employed)
$14k 529
$25k Cash
$3.8k HSA
$40k Mortgage payment

Next year our income may be a lower so i am aiming for: 150k all in savings

Curious why you are counting Mortgage as saving?

I made a principal payment towards our mortgage. My loan is fixed for 30yrs but IO for the first 10 yrs so i wanted to make a principal payment which directly reduces my monthly mortgage payment in perpetuity (and immediately).

Ok, this makes sense. Good for you!

The *real* answer to this question is that PP is insecure about the amount being saved, thinks it is too low, and uses mortgage payments to pad his or her stats.

Whatever makes you feel better.

Ok you got me...I saved 213k instead of 253k LOL

Me paying down a 5% IO loan that's fixed for 30yrs is essentially buying a bond. Would you say buying a $50k treasury is not saving?

The interest payments (aka my immediate reduction in monthly mortgage costs) are my ROI. I invested $40K to get a 5% return over the next 27 years. Find me a 30yr bond today that pays 5% and is guaranteed..30yr treasuries are around 4.6 currently.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI roughly 790k this year, saved $253k this year.

Higher than normal.

rounded numbers YTD:

$100k Trust
$70k between our 401Ks (DH is self employed)
$14k 529
$25k Cash
$3.8k HSA
$40k Mortgage payment

Next year our income may be a lower so i am aiming for: 150k all in savings

Curious why you are counting Mortgage as saving?

I made a principal payment towards our mortgage. My loan is fixed for 30yrs but IO for the first 10 yrs so i wanted to make a principal payment which directly reduces my monthly mortgage payment in perpetuity (and immediately).

Ok, this makes sense. Good for you!

The *real* answer to this question is that PP is insecure about the amount being saved, thinks it is too low, and uses mortgage payments to pad his or her stats.

Whatever makes you feel better.

seems like you don't understand IO mortgages..

[Anonymous]

Savings nets to about zero. I max my TSP, but take out about the same in taxable savings most years. Haven't put any in 529s for a long time. It all seems to grow though.

[Anonymous]

Anonymous wrote:We make $900k-$1M between the two of us. We save about $200k/year. Around $90k to retirement accounts (I own a business so I can get $66k/year), $40k to brokerage, $40k to cash savings/short term and $40k to 529 plans.

This is really bad.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make about 500k. We max out retirement and get employer matching. We’re saving about 60k a year. Honestly I’m not sure how much were saving beyond that; my husband mostly manages our budget. This thread reminded me to check in.

We’re in high cost years with young kids, tuition and a nanny. We saved a lot before we had kids and have a good nest egg in savings and the stock market so we feel okay about things.

saying you saved a lot before kids while in the same breath saying you currently save 60k/year makes you sound so horrendously out of touch with reality.
60k IS a lot.

it is not really a lot for someone making 500K. Even wtih the nanny and "tuition" whatever that is, they are really blowing a lot of cash.

Pp here whose savings you’re commenting on. Agreed we’re not really saving a lot. I think we put some into brokerage. We lived in a small apartment frugally pre kids and saved a lot, most of which is still in the market and brokerage accounts.

Our PITI now is just over 4k. House is old and has required expensive maintenance and some renovations. Two kids in private preschool. One has some special needs and has some extra therapies and medical costs. Nanny because we both work. HCOL area- even a cleaning service twice a month is $$. Camps and transportation are $$. One nice week long, domestic family vacation per year and one weekend away just me and my husband. Any other trips are to the grandparents or with them. We spend too much on groceries and takeout because we’re tired and busy. We decorate our house slowly and try to buy decent quality furniture that we can buy once and buy well. Slowly renovating our pre-war home. Lots of birthday parties, family celebrations, teacher appreciation and counselor tipping where we’re spending money on gifts and that adds up quickly. So all in all, a nice UMC life but nothing like an impeccably furnished, ostentatious new construction house you’d look at and think “ah, well that’s where the money goes.”

Life in a HCOL area with kids is just expensive. Preschool, camp, nanny, one nice vacation a year and home improvements are our biggest luxuries. But yes- should figure out where to cut back. Just a glimpse at how 500k can go quickly.

All this shows is that you overpay for childcare for young kids: preschool, nanny and camps are redundant. Pick two and save more.

[Anonymous]

I make $68k gross (just got a raise). This year I will have saved around $15k. My student loans will be paid off in 8 months or so and then I will save that other $1k/ month too.

[Anonymous]

Single mom of 1. I save $32k per year, salary and child support total $124k.

[Anonymous]

HHI 750

- 401k ~ 45 (+60 matching)
- 529 ~ 70
- BD Roth ~ 13
- Taxable ~ 250-300

Savings rate ~ 55% gross

[Anonymous]

Anonymous wrote:

Anonymous wrote:We make $900k-$1M between the two of us. We save about $200k/year. Around $90k to retirement accounts (I own a business so I can get $66k/year), $40k to brokerage, $40k to cash savings/short term and $40k to 529 plans.

This is really bad.

How is saving over 200K per year "really bad." Are you trolling or bad at math?

[Anonymous]

I make ~200k and save about $45k-$50k. I'm single, 34, no kids.