How much do you save as a percentage of your income?

[Anonymous]

We save around $125k a year, about a third of gross HHi.

Thank you DCPS.

[Anonymous]

I save about 15% of my income in my 401K, with a 3% company match and a small pension. I save another 3% or so for my child's college fund, and hope to start increasing that. When we have a renter in the spare room, I save all but $100/mo for future home projects.

[Anonymous]

Anonymous wrote:0%

How the heck is everyone saving so much? ?

The people responding mostly have incomes north of 250k. I'm pretty sure it's easier to save 100k when you're making 500k than when you're making 115k. Then you come to dcum and brag about how frugal and careful you are.

[Anonymous]

Anonymous wrote:

Anonymous wrote:0%

How the heck is everyone saving so much? ?

The people responding mostly have incomes north of 250k. I'm pretty sure it's easier to save 100k when you're making 500k than when you're making 115k. Then you come to dcum and brag about how frugal and careful you are.

Dear smarty pants,

Perhaps that's why OP, very smartly, asked about PERCENTAGES.

And, anyone can save, regardless of the income level.

[Anonymous]

Dear smarty pants,

Perhaps that's why OP, very smartly, asked about PERCENTAGES.

And, anyone can save, regardless of the income level.

Not fully true. There is a certain baseline for living expenses. some people never make enough to save beyond that. Its a hell of a lot easier to save 35% of your income when you make 400k than 100k. When I started working in DC, I made 38k gross, or 2400 month net after 6% retirement deducted (my only savings). Apartment and utilities were 1200 month (cockroaches were free), add into that transportation, food, clothing, medications not covered by insurance, copays etc, and I lived on 300$/week.

[Anonymous]

Anonymous wrote:

Dear smarty pants,

Perhaps that's why OP, very smartly, asked about PERCENTAGES.

And, anyone can save, regardless of the income level.

Not fully true. There is a certain baseline for living expenses. some people never make enough to save beyond that. Its a hell of a lot easier to save 35% of your income when you make 400k than 100k. When I started working in DC, I made 38k gross, or 2400 month net after 6% retirement deducted (my only savings). Apartment and utilities were 1200 month (cockroaches were free), add into that transportation, food, clothing, medications not covered by insurance, copays etc, and I lived on 300$/week.

+1000. Before shaming another poster and calling them smarty pants -- maybe use some common sense re baseline expenses that simply cannot be reduced any further.

[Anonymous]

20 % saved into 401-K (max) and SEP IRA. Then 10% into 529 plans. I have to spend the rest to live.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:0%

How the heck is everyone saving so much? ?

The people responding mostly have incomes north of 250k. I'm pretty sure it's easier to save 100k when you're making 500k than when you're making 115k. Then you come to dcum and brag about how frugal and careful you are.

Dear smarty pants,

Perhaps that's why OP, very smartly, asked about PERCENTAGES.

And, anyone can save, regardless of the income level.

I agree. I saved 8k a year when i only made 40k. Now we make 170 and save around 50k a year. You just put it aside and forget it exists.