Reply to $600K-$800K HHI

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Reply to "$600K-$800K HHI"

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[quote=Anonymous][quote=Anonymous]Not to hijack this thread but in addition to travel budget I’m curious how the people in this range prioritize their savings. We have maxed the 529 so that’s done, we max the 501k and Roth IRAs… and then we are kind of wishy washy and I feel like our savings goal beyond that is less focused because there’s not something else tax advantaged to focus on this year. Do you all just have a goal for the year and put it in index funds?[/quote]

We have a target figure we need to hit for retirement, and a rough goal for approximately when we might hit it. We max the 501k and Roth IRAs. After that our savings go into index funds in a taxable account, but they are really the residual after we spend what we want. Total saving is probably about 20 or 25 percent of our $700k hhi. It depends on the year, sometimes we have very expensive vacations, sometimes not. But we don't spend much money on anything else other than travel (and eating out when we travel). At home we nearly always cook, or take out/eat out somewhere inexpensive once a week or so. No expensive hobbies, other than maintaining second home on Eastern Shore.[/quote]

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