Reply to How much do you make and save per year?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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.[/quote]

This is really bad. [/quote]

How is saving over 200K per year "really bad." Are you trolling or bad at math? [/quote]

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

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.[/quote]

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[/quote]

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