Anonymous wrote:

saying you saved a lot before kids while in the same breath saying you currently save 60k/year makes you sound so horrendously out of touch with reality.
60k IS a lot.


not at 500k + it's quite low.

At a minimum, if you want to retire before 60 with no concerns, you need to save at least 20-30% of your gross income.

Sounds like most of the 60k is in retirement accounts, which is fine, but not ideal if you want to retire young/have tax planning options down the road.

You reply as if your take is the only take. It's not. You can't make a blanket statement that someone needs to to 2-30% of gross if you want to retire before 60. Does someone making $2 million a year need to meet those standards? No, because they could have plenty saved even if they save 10% a year of gross.

To the PP saving 60K a year on a $500k HHI - I think you are doing well. Those expensive daycare or nanny years, coupled with trying to buy and furnish and house, maybe pay for school or preschool, etc. are hard years to save.

If you make $2m a year and only save 10% you are not in good shape. The larger your income the higher the percent you need. You will be accustomed to living off a multi million dollar lifestyle. Once you retire with your $5-10M you will be in for a rude awakening when you can only spend 15-30k/mo

Someone making 65k actually won't need to save as much as they are accustomed to living off less. Two SS payments and maybe a part time gig and they are good to go for retirement.

saying you saved a lot before kids while in the same breath saying you currently save 60k/year makes you sound so horrendously out of touch with reality.
60k IS a lot.


not at 500k + it's quite low.

At a minimum, if you want to retire before 60 with no concerns, you need to save at least 20-30% of your gross income.

Sounds like most of the 60k is in retirement accounts, which is fine, but not ideal if you want to retire young/have tax planning options down the road.

You reply as if your take is the only take. It's not. You can't make a blanket statement that someone needs to to 2-30% of gross if you want to retire before 60. Does someone making $2 million a year need to meet those standards? No, because they could have plenty saved even if they save 10% a year of gross.

To the PP saving 60K a year on a $500k HHI - I think you are doing well. Those expensive daycare or nanny years, coupled with trying to buy and furnish and house, maybe pay for school or preschool, etc. are hard years to save.

HHI about $220,000

$35,000 in retirement accounts (1 TSP, 1 Roth)
$2400 in 529s (we also have 2 GI bills for our two kids)
$600 monthly funnels into a money market to have cash ready but set aside for household expenses/emergencies

I guess we should try to up it.

HHI $445K (neither of us are eligible for bonuses).

401(k): $45,000 (excluding small employer match (3-5%)
Brokerage: $84,000

We are 47/44, have three kids in public schools, a 2nd home, super-funded 529s, all in a HCOL city. No family money ever.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI roughly 790k this year, saved $253k this year.

Higher than normal.

rounded numbers YTD:

$100k Trust
$70k between our 401Ks (DH is self employed)
$14k 529
$25k Cash
$3.8k HSA
$40k Mortgage payment

Next year our income may be a lower so i am aiming for: 150k all in savings

Curious why you are counting Mortgage as saving?

I made a principal payment towards our mortgage. My loan is fixed for 30yrs but IO for the first 10 yrs so i wanted to make a principal payment which directly reduces my monthly mortgage payment in perpetuity (and immediately).

Ok, this makes sense. Good for you!

Anonymous wrote:

Anonymous wrote:We make about 500k. We max out retirement and get employer matching. We’re saving about 60k a year. Honestly I’m not sure how much were saving beyond that; my husband mostly manages our budget. This thread reminded me to check in.

We’re in high cost years with young kids, tuition and a nanny. We saved a lot before we had kids and have a good nest egg in savings and the stock market so we feel okay about things.

saying you saved a lot before kids while in the same breath saying you currently save 60k/year makes you sound so horrendously out of touch with reality.
60k IS a lot.

not at 500k + it's quite low.

At a minimum, if you want to retire before 60 with no concerns, you need to save at least 20-30% of your gross income.

Sounds like most of the 60k is in retirement accounts, which is fine, but not ideal if you want to retire young/have tax planning options down the road.

Anonymous wrote:

Anonymous wrote:We make about 500k. We max out retirement and get employer matching. We’re saving about 60k a year. Honestly I’m not sure how much were saving beyond that; my husband mostly manages our budget. This thread reminded me to check in.

We’re in high cost years with young kids, tuition and a nanny. We saved a lot before we had kids and have a good nest egg in savings and the stock market so we feel okay about things.

saying you saved a lot before kids while in the same breath saying you currently save 60k/year makes you sound so horrendously out of touch with reality.
60k IS a lot.

it is not really a lot for someone making 500K. Even wtih the nanny and "tuition" whatever that is, they are really blowing a lot of cash.

Our salary has WILD swings, anywhere from 400K-650K. Here are our direct deposits:

-43K to 401K (pretax) not including employer match
-30K to mega roth (post tax)
-12k to 529 (which we have slowed down post tax)
-7K to HSA (pre tax)
-25K to ESPP (post tax)
-20.4K to Brokerage (post tax)
-we also have two rental properties that have a ton of equity/and are cash flow positive.

This is all long term savings. WE do not really maintain short term savings other than emergency fund or when we have a savings goal such as needing to buy a car. That to me in not savings, that is saving for someting.

It makes things very tight when we make on the lower end of our pay. However we are hell bent on being able to retire at 59 if we want.

Anonymous wrote:We make about 500k. We max out retirement and get employer matching. We’re saving about 60k a year. Honestly I’m not sure how much were saving beyond that; my husband mostly manages our budget. This thread reminded me to check in.

We’re in high cost years with young kids, tuition and a nanny. We saved a lot before we had kids and have a good nest egg in savings and the stock market so we feel okay about things.

saying you saved a lot before kids while in the same breath saying you currently save 60k/year makes you sound so horrendously out of touch with reality.
60k IS a lot.

We make about 500k. We max out retirement and get employer matching. We’re saving about 60k a year. Honestly I’m not sure how much were saving beyond that; my husband mostly manages our budget. This thread reminded me to check in.

We’re in high cost years with young kids, tuition and a nanny. We saved a lot before we had kids and have a good nest egg in savings and the stock market so we feel okay about things.

Make $200K and save all but about $45K we live well below our means. We need to start spending more and buy a house but pickings are slim out there right now. We have way too much savings.

Gross income $300k between the two of us. This year, save about 30%, taxes about 35%, and spend the remaining 35%. Spending was a little higher this year because we paid cash for a new car.

We only save 8% because we are funding private special ed school. For us, it's a necessary expense crucial to the whole family, not just the kid who is going.

Just putting that out there for anyone reading who is barely saving, like us.

Anonymous wrote:You will get all the crazy over-savers coming out of ghe woodwork for this thread!

We save about 25 percent of our 500k post-tax income.

Yup!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI roughly 790k this year, saved $253k this year.

Higher than normal.

rounded numbers YTD:

$100k Trust
$70k between our 401Ks (DH is self employed)
$14k 529
$25k Cash
$3.8k HSA
$40k Mortgage payment

Next year our income may be a lower so i am aiming for: 150k all in savings

Curious why you are counting Mortgage as saving?

I made a principal payment towards our mortgage. My loan is fixed for 30yrs but IO for the first 10 yrs so i wanted to make a principal payment which directly reduces my monthly mortgage payment in perpetuity (and immediately).

PP, I essentially bought a "bond" for the current rate of my mortgage. If mortgage is 5% and I make a 40k principal payment, I am saving 2k a year in my mortgage payment.