I'm 29, and DH is 32, no kids. We have an HHI of about 220k (variable with one in sales). We have about 100k combined in retirement accounts and 75k in cash. Need to take some of that and start investing elsewhere, but when one works in sales without a guaranteed paycheck, it's nice to have extra cushion in our emergency fund.

When we bought our house 2 years ago, we were neither one very good at saving outside of retirement accounts (we lucked into a situation with a very low downpayment during historically low interest rates, we really didn't have the discipline to save for a downpayment). But we started saving $1,000/month that came directly out of our paychecks and into our savings account and it really helped us reframe everything else. Now we budget and save a lot more because it's fun to watch the money grow faster than either of us could have imagined in our mid twenties.

I strongly suggest coming up with a set amount that you either transfer immediately out of your paycheck or set up direct deposit to a savings account elsewhere (Ally works well for this). You can start small - $500/month combined and slowly inch it up as you adjust to your new normal. If you're comfortable now, you probably won't even miss it and you'll be surprised how quickly it starts to stack up.

Neither my DH nor I had any retirement savings at age 30.

I think I started at 10% at age 32 (when I started as a fed) and worked my way up to the max over time, I was a GS-13 making 55K or something like that. 22 years later my TSP is approaching $1M. DH is similar, started a little later than me timewise (he is younger, so was not yet 30 when he started) and he has a little less than me.

The key is starting and being consistent and slowing increasing what you contribute as you get raises. We do not even consider it money that is available to our budget. We are not really great savers outside of retirement but the automatic nature of it being pulled out before we see it made all the difference for us.

Anonymous wrote:

Anonymous wrote:Get your DH to start retirement right now!

DH isn't financially minded. He hasn't contributed until this year because he says he makes too little money and with rent and bills every month including about $800 towards his loans, he doesn't have anything left over enough to put in 401K.

He says his company only lets employees save 6% and he would be happy to do 2% but not 6% so he isn't putting anything away.

I'm done arguing with him about it, so I am saving on my own and maxing mine.

I really, really doubt his company will only let him save 6%. That might be what they match, but there's no way they say it's 6% or nothing. You have to get him saving or he'll be a burden to you when you retire.

Are you planning to never have children?

Both 35, total retirement savings (between 401k, TSP for one of us, and an investment account that isn't an IRA because we might use it for a house but is basically retirement savings) around $500k. Our HHI is relatively high now but hasn't always been.

OP, don't stress about what anyone else has, but DO start saving whatever you can now. The best thing you have going for you is TIME. Compounding interest is a gift from God but it only works if you start saving what you can now. (Of course, any debts are a part of that picture, so things like student loans should -generally- be paid off before you start devoting huge amounts of your income to retirement savings.)

Anonymous wrote:Get your DH to start retirement right now!

DH isn't financially minded. He hasn't contributed until this year because he says he makes too little money and with rent and bills every month including about $800 towards his loans, he doesn't have anything left over enough to put in 401K.

He says his company only lets employees save 6% and he would be happy to do 2% but not 6% so he isn't putting anything away.

I'm done arguing with him about it, so I am saving on my own and maxing mine.

What's your income? Your situation could be OK or very bad depending on how much you're making.

I'm 33, my wife is 31, we make about $160K combined with about $140K in retirement and $20K in cash savings. We save ~20% of our income all told when you include employer matching, and I think that's about the bare minimum we can get away with and still have a comfortable (by our standards) retirement.

Of course, everybody's needs are different. We plan on staying in DC long term and it's certainly not going to get any cheaper, so we'll need several million saved up by the time we retire. If you plan on moving somewhere cheaper you can get by with a lot less, especially if you own property in DC you can sell when it's time to retire or if TSHTF financially.

Anonymous wrote:DH and I live a pretty good life despite our low incomes and being DINKs. However we have little to no savings.

Him: no retirements savings, maybe 4K in savings account

Me: 20k in 401K and maybe 2k in savings.

We are both 30.

It gives me a lot of anxiety.

What is your HHI and debt/monthly expense amount?

Get your DH to start retirement right now!

me 31, dh 32

DH- 401k about 50k
Me- 401k is 24k (up 5k in the market so this will prob come down soon)
Me- 40k in real estate deal
Savings - 10k cash

Yea - I would be anxious too. Our HHI was $100k 7 years ago when we got married and rose to about $175 last year. We managed to save over $200k in the same 7 year period.

Anonymous wrote:

Anonymous wrote:If you're both 30, start saving now! You'll be fine. Don't stress, just do it. DH earns around 100k and I make 60K. I have inched my way higher and higher each year. I now put 10 percent of my salary, plus a 5% company match, in my 401(k).

I started when I was 28 or 29 and initially only saved up to the match.

Oh, and I have about $150k in retirement; DH has about 300k. I'm 40, he's 50.

Last thing: In case it isn't obvious, our HHI 15 years ago was about half of what it is now. We've only made over 100k jointly for 10 years, so we just save what we can, when we can.

Anonymous wrote:If you're both 30, start saving now! You'll be fine. Don't stress, just do it. DH earns around 100k and I make 60K. I have inched my way higher and higher each year. I now put 10 percent of my salary, plus a 5% company match, in my 401(k).

I started when I was 28 or 29 and initially only saved up to the match.

Oh, and I have about $150k in retirement; DH has about 300k. I'm 40, he's 50.

Anonymous wrote:DH and I live a pretty good life despite our low incomes and being DINKs. However we have little to no savings.

Him: no retirements savings, maybe 4K in savings account

Me: 20k in 401K and maybe 2k in savings.

We are both 30.

It gives me a lot of anxiety.

Savings isn't the whole picture. What is your debt? You really, really need to start putting money into IRAs. Roth IRA is your best friend, max it out if you can every year. You also need an emergency fund. $6000 won't cut it. Do you have health insurance?

If you're both 30, start saving now! You'll be fine. Don't stress, just do it. DH earns around 100k and I make 60K. I have inched my way higher and higher each year. I now put 10 percent of my salary, plus a 5% company match, in my 401(k).

I started when I was 28 or 29 and initially only saved up to the match.

DH and I live a pretty good life despite our low incomes and being DINKs. However we have little to no savings.

Him: no retirements savings, maybe 4K in savings account

Me: 20k in 401K and maybe 2k in savings.

We are both 30.

It gives me a lot of anxiety.