How much do you make and save per year?

[Anonymous]

HHI about $330k, we save about $60k in 401(k), HSA, and 529s. I'm not counting company contributions to retirement (10 percent match for one of us, 3 percent for the other) or a small pension as money we save here (about 2 percent of salary goes into it). That's obviously money we'll wind up with one day, but it's not money we're putting away ourselves, and anyway it doesn't add up to that much more savings.

Not saving much in taxable accounts these days but we did put about $500,000 in profits from selling our previous house into the market about five years ago rather than putting down more than 20 percent on a new home; hoping that as our income continues to rise a bit, we'll be able to save more besides the tax-advantaged amounts.

[Anonymous]

$250k HHI. We max 2 401ks and that’s it.

[Anonymous]

Our gross HHI is $502K.

Annual savings are as follows:

$45K 401k [pre-tax, employee contribution]
$30K 401k [pre-tax, employer contribution]
$6.75k HSA [pre-tax, employee contribution]
$1k HSA [pre-tax, employer contribution]
$32K VCSP 529 [after-tax into 8 accounts for two kids, 4 accounts per child]
$48K taxable brokerage account

[Anonymous]

Make $90k. Save 6k hsa, $29k tsp, 4k Ira, 1k 529, so about 40k savings.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI 750

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

Savings rate ~ 55% gross

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?

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.

Did you guys not have student loans?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI 750

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

Savings rate ~ 55% gross

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?

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.

Did you guys not have student loans?

We paid off half a million in loans before we started investing. It took two and a half years.

[Anonymous]

We make about $300k. We just became empty nesters young (late forties) so we’ve decided to focus on spending as opposed to saving like we did for so long. We max retirement (45k) and keep our emergency fund flush (but dont add unless we spend), but thats it. We will probably start a 529 for grandkids or downpayment/wedding funds soon but our parents both had early health issues and so we don’t want to wait for retirement.

[Anonymous]

Single, 150k, medium size city. 30k in 401k including match, 5k IRA Roth, another 10k in investment accounts.

Helps to have a low mortgage and a city that is cheaper than DC.

[Anonymous]

Anonymous wrote:HHI 340K
Save about 70K in 401Ks and 529s
Hoping to up 529 saving in 2024

Very similar here.

[Anonymous]

Anonymous wrote:Make $90k. Save 6k hsa, $29k tsp, 4k Ira, 1k 529, so about 40k savings.

How much do you live on?

[Anonymous]

I live in a nearby city, but not DMV, so things are a little cheaper. Only 1 kid, rent, shop frugally, kid does mostly rec, art, and school based activities. Grandparents help with summer care, so only need a few weeks of summer camp.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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?

If we assume 25% to taxes, PP is spending $500,000 a year. That's what is really bad.

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.

What if you can’t work one day? Get disabled or sick? Or you live to your 90s? It would suck to be able to spend 500k a year and then you have to be able to afford life on social security in your 80s

[Anonymous]

HHI- $550,000
Savings- $230,000 a year

[Anonymous]

Anonymous wrote:

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?

When you make $1m a year and only save $200, yes, I think that’s bad.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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?

If we assume 25% to taxes, PP is spending $500,000 a year. That's what is really bad.

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.

You're free to live your life as you please, but you're drastically undersaving. You save $200K, but since you're married, only $100K of that really "belongs" to you.

I make $200K, pay $50K in taxes, live on $40K and save $110K per year. Different situations, obviously, as you have kids - and I'm also an aggressive saver since I'm interested in FIRE - but you're being outsaved by someone who makes a fifth of your income.