Reply to Middle class professionals: tell me about your finances

Forum Index » Money and Finances

Reply to "Middle class professionals: tell me about your finances"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]OP, it sounds like you are doing pretty well.

For comparison, I am 50 now, with two teens approaching college.

I am a Fed, DH a teacher.  A decade ago, when we were your age, our HHI was about $145,000, and were putting away 5% for retirement, plus getting the 5% federal match.  Plus, we were putting away a few hundred each month for college for our children.  At that point, our retirement account had about $200,000, and we had $50,000 total in college savings accounts.

Fast forward ten years.  HHI is now about $180,000.  We have continued to save at the same pace - 5% in the retirement account, plus 5% federal match, and now up to about $1,000 per month into college savings.  Right now we have $600,000 in our retirement accounts, plus $220,000 in total college savings - enough to pay for in-state tuition for both our children for four years.

I think we are in pretty good shape - and you are ahead of where we were ten years ago.  So congrats and keep it up!
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics