Anonymous
02/19/2024 08:10
Subject: Re:How much do you save annually? How much do you spend on 'wants' annually?
Anonymous wrote:Anonymous wrote: HHI $150K. Mid 40s. NW around $5M. No family money.
DH and I save about 60% of our gross income between 401k, HSA, IRA, 529s, and brokerage.
Spend about 10% of gross HHI on wants. The rest is for necessities. We live a very comfortable yet frugal lifestyle.
NP here . It’s amazing that you have a net worth of $5M on an HHI of $150K with no family money in your mid 40s. May I ask how you got there?
DP here. They live much more frugally than most on DCUM could stand. That's how. Its simple math. We are at about $3M net worth on about $300k income (but was low 200's for a longtime) so for them to get to $5M is impressive, since I'd say we are pretty frugal too.
Anonymous
02/19/2024 05:35
Subject: Re:How much do you save annually? How much do you spend on 'wants' annually?
Anonymous wrote: HHI $150K. Mid 40s. NW around $5M. No family money.
DH and I save about 60% of our gross income between 401k, HSA, IRA, 529s, and brokerage.
Spend about 10% of gross HHI on wants. The rest is for necessities. We live a very comfortable yet frugal lifestyle.
NP here . It’s amazing that you have a net worth of $5M on an HHI of $150K with no family money in your mid 40s. May I ask how you got there?
Anonymous
02/18/2024 17:43
Subject: Re:How much do you save annually? How much do you spend on 'wants' annually?
HHI $150K. Mid 40s. NW around $5M. No family money.
DH and I save about 60% of our gross income between 401k, HSA, IRA, 529s, and brokerage.
Spend about 10% of gross HHI on wants. The rest is for necessities. We live a very comfortable yet frugal lifestyle.
DH and I save about 60% of our gross income between 401k, HSA, IRA, 529s, and brokerage.
Spend about 10% of gross HHI on wants. The rest is for necessities. We live a very comfortable yet frugal lifestyle.
Anonymous
02/17/2024 21:57
Subject: How much do you save annually? How much do you spend on 'wants' annually?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:HHI of $500K...
$130K into 401K', Solo 401K, deferred comp & HSA
$50K into brokerage
36% savings rate
$40K to travel and experiences
How is that possible? Do you have kids? Sounds like a DINK situation.
One child is launched, the other is graduating college in a few months. We are at our peak earnings and getting ready to punch out of the rat race in the next few years. Expect expenses in retirement to be about $15K if we stay here.
$15k per month...
How much do you hope to have saved by the time you retire to meet this goal?
Anonymous
02/17/2024 14:24
Subject: Re:How much do you save annually? How much do you spend on 'wants' annually?
Post-tax (not including 401k), we saved 43% last year and spent 13% on lifestyle stuff.
Anonymous
02/16/2024 16:44
Subject: Re:How much do you save annually? How much do you spend on 'wants' annually?
We save about 22% of our income:
pre-tax accounts: 8.5%
brokerage: 11.5%
529 for 2 kids: 2%
I don't track "wants." Overall, we do not splurge un luxuries. We drive modest cars, fly economy, but do things like a ski trips or vacations in Europe.
pre-tax accounts: 8.5%
brokerage: 11.5%
529 for 2 kids: 2%
I don't track "wants." Overall, we do not splurge un luxuries. We drive modest cars, fly economy, but do things like a ski trips or vacations in Europe.
Anonymous
02/16/2024 09:52
Subject: How much do you save annually? How much do you spend on 'wants' annually?
Anonymous wrote:#humblebrags
Not OP but I don't get this comment.. posters are responding to a question. This is an anonymous forum, humblebrag doesn't mean anything since you don't know who any of these posters are in real life! Learning what others are saving on what income, helps contextualize my own goals. Sure, I can go to financial advisor but would rather learn from people who have been there and done that.
Anonymous
02/15/2024 21:23
Subject: How much do you save annually? How much do you spend on 'wants' annually?
Anonymous wrote:Anonymous wrote:Anonymous wrote:HHI of $500K...
$130K into 401K', Solo 401K, deferred comp & HSA
$50K into brokerage
36% savings rate
$40K to travel and experiences
How is that possible? Do you have kids? Sounds like a DINK situation.
One child is launched, the other is graduating college in a few months. We are at our peak earnings and getting ready to punch out of the rat race in the next few years. Expect expenses in retirement to be about $15K if we stay here.
$15k per month...
Anonymous
02/15/2024 21:22
Subject: How much do you save annually? How much do you spend on 'wants' annually?
Anonymous wrote:Anonymous wrote:HHI of $500K...
$130K into 401K', Solo 401K, deferred comp & HSA
$50K into brokerage
36% savings rate
$40K to travel and experiences
How is that possible? Do you have kids? Sounds like a DINK situation.
One child is launched, the other is graduating college in a few months. We are at our peak earnings and getting ready to punch out of the rat race in the next few years. Expect expenses in retirement to be about $15K if we stay here.
Anonymous
02/15/2024 20:34
Subject: How much do you save annually? How much do you spend on 'wants' annually?
#humblebrags
Anonymous
02/15/2024 20:34
Subject: How much do you save annually? How much do you spend on 'wants' annually?
Anonymous wrote:Wow, I am so impressed by the savings rates here. Our HHI is $1M and we aim to save 20%, and that's a stretch for us. We don't live TOO crazily either - home is worth about $700k, mortgage payment under $3k, public school. I guess we do burn through money in other ways (country club, tons of extracurriculars for our three kids, good amount of travel). I really have never thought of things as "wants." Our "needs" are really very low compared to HHI. Like...I dunno, probably $4-5k/month, if we're really talking NEED like mortgage and groceries. Everything else - sports teams/lessons for the kids, music, swimming, tutoring, dance, golf lessons, eating out, trips, new clothes, greens fees - those are wants. So the vast majority of our income is spent on wants.
Anonymous
02/15/2024 20:10
Subject: How much do you save annually? How much do you spend on 'wants' annually?
Anonymous wrote:Probably save $400k/year in retirement and investment accounts. College is done.
We spend a lot in some areas and are cheap in others. We spend a lot on things like home improvement/landscaping (in the midst of a $200k+ landscaping project right now that definitely won't add that much to our home value), dining out, wine, travel, but almost nothing on luxury goods like clothing or purses.
$400k is a lot. What is your HHI?
Anonymous
02/15/2024 20:09
Subject: How much do you save annually? How much do you spend on 'wants' annually?
Save: roughly $18k
Wants: around $2k
You didn’t ask but housing+daycare is the biggest expense at $64k.
HHI $140k
Wants: around $2k
You didn’t ask but housing+daycare is the biggest expense at $64k.
HHI $140k
Anonymous
02/15/2024 19:31
Subject: How much do you save annually? How much do you spend on 'wants' annually?
Anonymous wrote:HHI of $500K...
$130K into 401K', Solo 401K, deferred comp & HSA
$50K into brokerage
36% savings rate
$40K to travel and experiences
How is that possible? Do you have kids? Sounds like a DINK situation.