How much do you make and save per year?
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Anonymous
| Last year, my gross pay was $87k. I’m a teacher (48 years old). The total amount put into my pension and 403b last year was $39k. I might have saved around $5-6k but now it’s going to pay for my son college tuition. |
Anonymous
| Our HHI is $120 with both of us working and two kids. We're probably going to save about $6k this year. |
Anonymous
Impressive. Wow. How do you save so much? Just live way way below your means. I want to know more. You're just super conservative? Have you always made such a high income? What's your net worth? |
Anonymous
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HHI around $230k. Student loans will be done in February (only three more months to go!!!) and we'll divert most of that $2,400 into retirement catch up once we pay off house reno debt. For 2024 we'll save about 25% between retirement plans (not including matching), HSA, and 529.
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Anonymous
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HHI 340K
Save about 70K in 401Ks and 529s Hoping to up 529 saving in 2024 |
Anonymous
| HHI is $475 and we aim to save (in retirement, post tax brokerage, 529 and IRAs) between 25-30%. This year we're projected to save 28%. |
Anonymous
Our numbers are almost identical to yours. We save a little less than that for retirement and more for short term savings to keep us out of debt, but the two big numbers are the same. |
Anonymous
Dual physician income, so roughly for the past ten years. We have about $2.5m in investable net worth (I.e. housing and 529 not counted). Looking to slow down once we hit $4m. |
Anonymous
| HHI is about $175k. We save about $30k a year typically along with $8k taken out for a pension. |
Anonymous
How are you paying $117,000 in taxes? That's 43%! |
Anonymous
| Dual income. We made $270k after taxes. Saved $90k. Not bad! |
Anonymous
If we assume 25% to taxes, PP is spending $500,000 a year. That's what is really bad. |
Anonymous
| We're on track to save $65K this year on about $230K. We are working hard to make up for past years, which had lower salaries / unemployment. |
Anonymous
I'm the PP with HHI $1M. Also the PP who was impressed with the 55% savings rate of the couple making $750k. I do feel like my spending is out of control but also, man, my kids are growing up and I want to travel with them and enrich them and have them grow up in a great home where all their friends want to come. I also have only made this level of income for a few years (expect it to continue and grow) so I'm also finally doing things I never used to do for myself. Self-care stuff, nice clothes and shoes. Home renovations to make it a nicer place to live and entertain family and friends. I've loved doing stuff for the people I love, too, like taking my mom on girls trips, doing really nice teacher gifts and sponsoring stuff for the kids' schools, throwing parties for our neighborhood. Makes me feel good. So I sock away 20% of our income and blow the rest. I do feel it's less than I should be doing but then again, just had a friend of my parents' die in his mid-60s and man it sucks. I sort of feel like I'm in my prime spending years right now with the three kids all still at home and wanting to make lots of extraordinary memories with them and just enjoy life. Mid-40s. I want to be responsible with my money and save it but also want to live well right now. I'm probably undersaving, but I do love my job, so plan to work for a long time and hope my expenses will be less when I'm older and the kids are on their own. |
Anonymous
Thanks for the reply. It's really awesome to have discipline like that, especially when your kids are still young and there are so many ways to spend money on them. You must be living pretty modestly to be making that much in after-tax savings. Good for you. |