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Reply to "People with "regular incomes" what are your savings?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]50 and 52. Save $45K in 401K annually. Also save another $80K per year after tax. HHI is "only" $270K. Home worth around $1.9m paid off. We are now able to get by on one salary. Kids just finished college with zero loans. [/quote] How do you save $80k post tax on that income? [/quote] If they're even bringing home 1/2 of their gross after 401k, insurance premiums etc., which they likely are --that's 135,000. So they live in 55k or 40% of their net, while saving 60%. Not unheard of -- I did it for years when younger. They're older with a paid off home and kids out of college so no mortgage or 529 expenses is a HUGE saving right there.[/quote] For real. If I didn’t have a mortgage and college were behind us I’d be rolling in it. [/quote]
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