Age, income, and amount saved for retirement?

[Anonymous]

ages 55/53
HHI income $700k
Retirement $3M plus modest pension
Aggressively playing catchup due to entering workforce late due to advanced degrees and lower paying government jobs for much of career

[Anonymous]

Ages - 41/41
Income - $180k/0
Retirement accts - $200k/$180k
Non retirement accounts - $200k
House equity - $300k

Spouse will begin to draw a pension at age 45 of around $80k a year but will continue working until around age 55.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For the sake of the common folk:

I’m 45, make 100k, and have $350k in my 401k.

DH is 55, makes 130k, and has $650k in his 401k.

We only reached this income in the last three years and I’m proud of us; maxing our 401(k)s is a real sacrifice.

This is one of the few realistic posts on this thread and you seems to be doing pretty darn well...

I'll 1-up you on the common folk:

44, 120k, $200k in 401k
42, 133k, $250k in 401k

[Anonymous]

Anonymous wrote:For the sake of the common folk:

I’m 45, make 100k, and have $350k in my 401k.

DH is 55, makes 130k, and has $650k in his 401k.

We only reached this income in the last three years and I’m proud of us; maxing our 401(k)s is a real sacrifice.

I love that you think having $1M saved is common folk.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For the sake of the common folk:

I’m 45, make 100k, and have $350k in my 401k.

DH is 55, makes 130k, and has $650k in his 401k.

We only reached this income in the last three years and I’m proud of us; maxing our 401(k)s is a real sacrifice.

I love that you think having $1M saved is common folk.

Compared with many of the previous comments, they seem more 'common' to me (in terms of their income)...

I'll add mine...

Single Parent, one kid in College
Age=56
2023 Income ~ $140K

Taxable retirement savings ~ $1.65mil
Tax-free retirement savings ~ $380K
Cash (and similar) ~ $450K
Pension = zip/zero/zilch

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:43

$250k combined.

$3.5M.

Ummm yeah the numbers don't add up...you have been in the workforce for probably 20 years tops and you surely haven't made that combined income the whole time...I call BS..

I initially thought the same about this post, but they could have inherited funds that they invested and consider part of their retirement.

+1 I really wish that people would list inheritance/financial gifts out separately in these types of threads

[Anonymous]

Ages 50 and 59, HHI $220k. Total retirement 650k. In fairness, this income is quite new for us. For most of our careers our HHI was $120k. We both made some less than smart choices. But we were battling headwinds and we did what we could.

With one kid heading to college in a few years… yeah, good thing neither of us really wants to retire ever.

[Anonymous]

Age 50/51.
HHI $265k
1M in 401k, will have 2 pensions.
This HHI is just within the past few years, we were making less as academics before that.

[Anonymous]

Age 56
Income: $175K
Retirement:

- $2 million in 401k accounts (started investing in 401k at age 23; one subsequent employer had an extremelygenerous match)

- Another $230k in a taxable account - not strictly for retirement

- $25k/year pension at age 65, but it will never grow, so inflation will shrink the value year after year

[Anonymous]

Age 46/45
Income 230k/250k
No pensions
Retirement svgs $2 million(parents started Roth at 18 with earnings)/$914k

[Anonymous]

Anonymous wrote:Age 46/45
Income 230k/250k
No pensions
Retirement svgs $2 million(parents started Roth at 18 with earnings)/$914k

This is what we are doing for our kids.

[Anonymous]

55/53
HHI $400K (just recently; was $230K before that)
$3M in combined retirement/brokerage
$1M nonliquid real estate outside of primary home, producing about $20K a year
No pension.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:43

$250k combined.

$3.5M.

Ummm yeah the numbers don't add up...you have been in the workforce for probably 20 years tops and you surely haven't made that combined income the whole time...I call BS..

I initially thought the same about this post, but they could have inherited funds that they invested and consider part of their retirement.

+1 I really wish that people would list inheritance/financial gifts out separately in these types of threads

I don't think the stated value is impossible if they maxed 401(k)s and had generous matches or non-elective contributions. I know of one company that use to put in 14% whether you put in anything or all. Plus they may have IRAs they've always maxed.

[Anonymous]

DH, 52, retired from full-time and currently working part-time, drawing pension currently $84k/year
403b ~$200k

DW 53, $117k, will have a similar pension when retired
403b (I'd have to check)

[Anonymous]

Anonymous wrote:

Anonymous wrote:43

$250k combined.

$3.5M.

Ummm yeah the numbers don't add up...you have been in the workforce for probably 20 years tops and you surely haven't made that combined income the whole time...I call BS..

We married young. We didn’t make $250, but more like 150 combined at that point. We only ever lived on one income for a loonng time, and we made some very lucky investment choices along the way.

These numbers are accurate. But it’s mostly all index funds now.