Anonymous wrote:Spin off from thread about not having saved anything at age 50. Curious what people are tracking for based on their age, income and goals.

Mind your business and worry about yourself.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:39 and 36 and we have around 110k combined for retirement

Hhi is currently 380 but will be going down soon.

I am glad we are not alone in this boat. HHI 450k( but just started to make that) around 100k in 401k. 2 rental properties though. Going to make much more in a few next years.Ages 34 and 38.

I'm the poster you responded to. I bet there are others out there like us. Only the people with massive retirement funds seem to post in these threads. We paid off 400,000 in student loans and focused on that instead of saving. The debt was too overwhelming and stressful to consider putting money towards anything else.

400K paid off is damn good. Nothing to sneeze at.

33, 73k, 140K saved. One child.

Anonymous wrote:

Anonymous wrote:32 years old, 57k annual salary, 25k in my 401k. Some of these responses are crazy huge.

No kidding! 41 yrs old. HHI is $60K and I have about a total of maybe $25K in a pension and 403b.

We're in our 40s, had an HHI of $180k but my company just shut down so now we've got my husband's income of $120k plus what I can cobble together consulting until I find something steady again (not so easy in my field). We have about $80k between us in retirement accounts, and no savings outside of that. Bought a house recently - our first - that we think has about $50k equity in it now since we got a good deal (but we owe $330k on it at the same time). Still owe $58k on student loans. No pensions, no inheritances, no backup plan outside of taking care of ourselves.

I guess as in so much of life, we are extremely lucky to have what we have and be better off than so many others, and I am scared to death about running out at the same time. My husband doesn't worry at all; he thinks we will be just fine.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:38 and 40
HHI 275K
~$400k in various 401k/TSP plans (I think it's approaching 450k because of the current stock market)
Two federal pensions (both currently feds), and unless our jobs get eliminated, we plan on being fully vested with around 35 years of service when we retire

We also have a home that, thanks to the increase in local real estate prices, is conservatively valued at $1.1 million, and we owe ~400k remaining on the mortgage. I think that people overlook home equity when thinking about how much you "have" for retirement. My mother always rented, and once she retired things got very tight.

+1. Main reason I moved from Manhattan. I couldn't imagine renting in retirement.

+1. While I'm not particularly interested in home ownership (at all) and don't own right now -- I view home ownership as part of retirement planning bc I really don't want to be in a position in retirement where my income is fixed but my rent goes up hundreds of dollars/yr. Felt the same way when I lived in Manhattan -- what do you do if your retirement is budgeted just so and there's a huge rent increase OR even if you own and there's a jump in maintenance or an assessment bc the building needs a new roof or something??

Don't know how I'll make it work bc I like the flexibility of renting -- i.e. being able to switch job locations etc. Maybe I'll buy 5-10 yrs before retirement with a huge down payment. Honestly it's also why I'm somewhat considering a rental property -- equity will be built someplace even if I don't live in it and even if it costs me a few hundred a month if renters don't cover every single cost; then when it's paid off, I can either live in it or sell, cash out, and use that cash to buy someplace else. Is that irrational??

I'm a big advocate of home ownership, but if you don't want to own your primary residence, you absolutely should be doing this at a minimum. I own a rental on the Florida Gulf Coast and the renters are paying for my future final residence. Taxes are non existent and we just became profitable, which we put right back into the house.

We have a healthy 401k, and hope to cash out a good 2m in real estate that goes into our pocket.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:38 and 40
HHI 275K
~$400k in various 401k/TSP plans (I think it's approaching 450k because of the current stock market)
Two federal pensions (both currently feds), and unless our jobs get eliminated, we plan on being fully vested with around 35 years of service when we retire

We also have a home that, thanks to the increase in local real estate prices, is conservatively valued at $1.1 million, and we owe ~400k remaining on the mortgage. I think that people overlook home equity when thinking about how much you "have" for retirement. My mother always rented, and once she retired things got very tight.

+1. Main reason I moved from Manhattan. I couldn't imagine renting in retirement.

+1. While I'm not particularly interested in home ownership (at all) and don't own right now -- I view home ownership as part of retirement planning bc I really don't want to be in a position in retirement where my income is fixed but my rent goes up hundreds of dollars/yr. Felt the same way when I lived in Manhattan -- what do you do if your retirement is budgeted just so and there's a huge rent increase OR even if you own and there's a jump in maintenance or an assessment bc the building needs a new roof or something??

Don't know how I'll make it work bc I like the flexibility of renting -- i.e. being able to switch job locations etc. Maybe I'll buy 5-10 yrs before retirement with a huge down payment. Honestly it's also why I'm somewhat considering a rental property -- equity will be built someplace even if I don't live in it and even if it costs me a few hundred a month if renters don't cover every single cost; then when it's paid off, I can either live in it or sell, cash out, and use that cash to buy someplace else. Is that irrational??

It's rational if you'd actually consider living in the property and your rental income would cover the Piti and repairs. Also need to consider whether you'd need a 15 year or less mortgage so you could have it paid off in time for retirement.

Anonymous wrote:

Anonymous wrote:38 and 40
HHI 275K
~$400k in various 401k/TSP plans (I think it's approaching 450k because of the current stock market)
Two federal pensions (both currently feds), and unless our jobs get eliminated, we plan on being fully vested with around 35 years of service when we retire

We also have a home that, thanks to the increase in local real estate prices, is conservatively valued at $1.1 million, and we owe ~400k remaining on the mortgage. I think that people overlook home equity when thinking about how much you "have" for retirement. My mother always rented, and once she retired things got very tight.

+1. Main reason I moved from Manhattan. I couldn't imagine renting in retirement.

+1. While I'm not particularly interested in home ownership (at all) and don't own right now -- I view home ownership as part of retirement planning bc I really don't want to be in a position in retirement where my income is fixed but my rent goes up hundreds of dollars/yr. Felt the same way when I lived in Manhattan -- what do you do if your retirement is budgeted just so and there's a huge rent increase OR even if you own and there's a jump in maintenance or an assessment bc the building needs a new roof or something??

Don't know how I'll make it work bc I like the flexibility of renting -- i.e. being able to switch job locations etc. Maybe I'll buy 5-10 yrs before retirement with a huge down payment. Honestly it's also why I'm somewhat considering a rental property -- equity will be built someplace even if I don't live in it and even if it costs me a few hundred a month if renters don't cover every single cost; then when it's paid off, I can either live in it or sell, cash out, and use that cash to buy someplace else. Is that irrational??

Anonymous wrote:

Anonymous wrote:38 and 40
HHI 275K
~$400k in various 401k/TSP plans (I think it's approaching 450k because of the current stock market)
Two federal pensions (both currently feds), and unless our jobs get eliminated, we plan on being fully vested with around 35 years of service when we retire

We also have a home that, thanks to the increase in local real estate prices, is conservatively valued at $1.1 million, and we owe ~400k remaining on the mortgage. I think that people overlook home equity when thinking about how much you "have" for retirement. My mother always rented, and once she retired things got very tight.

+1. Main reason I moved from Manhattan. I couldn't imagine renting in retirement.

Agree! I'm a poster up thread and have 2 investment properties. Not only do I want to sell my house in retirement, but want to save all profit and not have to roll it into my retirement. One of those investments is in Scottsdale , AZ where we'd like to retire. We will move into the Scottsdale house that renters paid off and keep all proceeds from the sale of our primary.

44 and 47, $225K HHI and $750K for retirement (plus one of us has a pension on top of that)

Anonymous wrote:38 and 40
HHI 275K
~$400k in various 401k/TSP plans (I think it's approaching 450k because of the current stock market)
Two federal pensions (both currently feds), and unless our jobs get eliminated, we plan on being fully vested with around 35 years of service when we retire

We also have a home that, thanks to the increase in local real estate prices, is conservatively valued at $1.1 million, and we owe ~400k remaining on the mortgage. I think that people overlook home equity when thinking about how much you "have" for retirement. My mother always rented, and once she retired things got very tight.

+1. Main reason I moved from Manhattan. I couldn't imagine renting in retirement.

Approx 350K HHI.

38&40, just hit 1M in 401k (combined)

2 investment properties.

HHI $250K (two salaries)
35/36
DH's 401(k) - $65,000
No student loan debt

We cashed out my 401(k) which had $60K to have an adequate down payment for our house (combined with other funds). I appreciate this is frowned on, but it was what we decided to do.

We own rental properties so we are counting on those to help float us in retirement.

38 and 40
HHI 275K
~$400k in various 401k/TSP plans (I think it's approaching 450k because of the current stock market)
Two federal pensions (both currently feds), and unless our jobs get eliminated, we plan on being fully vested with around 35 years of service when we retire

We also have a home that, thanks to the increase in local real estate prices, is conservatively valued at $1.1 million, and we owe ~400k remaining on the mortgage. I think that people overlook home equity when thinking about how much you "have" for retirement. My mother always rented, and once she retired things got very tight.

32/24
HHI: $210K
Retirements savings: about $300K
We've been plowing a lot of money into home renovation - for our own use and to play on the crazily increasing DC housing market. I think we're sitting on a fair amount of equity - about $300K just from making lucky / smart real estate moves.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:39 and 36 and we have around 110k combined for retirement

Hhi is currently 380 but will be going down soon.

I am glad we are not alone in this boat. HHI 450k( but just started to make that) around 100k in 401k. 2 rental properties though. Going to make much more in a few next years.Ages 34 and 38.

I'm the poster you responded to. I bet there are others out there like us. Only the people with massive retirement funds seem to post in these threads. We paid off 400,000 in student loans and focused on that instead of saving. The debt was too overwhelming and stressful to consider putting money towards anything else.

There are others and I am one of them! DH and I are both 33 with one child and I am SAHM. DH makes 190K. 150K in retirement but after buying our house we have no other savings (we have family in case of emergency). DH has 200K of student loans and we are 8 years into a 10 year repayment. Between that, very pricey health insurance, and mortgage we are putting about 20K into retirement this year and thats it. DH will get a bonus of about 5-10K that we will mostly use to rebuild our savings and fix up house.

You're living beyond your means. With such step loans and other expenses you should have bought a less expensive house or should be working. right your reason to not save for retirement may be your mortgage but then in a few years it will be kids' activities or tuition.

What's the point in making a comment like this? Do you think they're going to sell their house now? You also have no idea of what her earning potential is. It might make sense financially for her to stay home.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:39 and 36 and we have around 110k combined for retirement

Hhi is currently 380 but will be going down soon.

I am glad we are not alone in this boat. HHI 450k( but just started to make that) around 100k in 401k. 2 rental properties though. Going to make much more in a few next years.Ages 34 and 38.

I'm the poster you responded to. I bet there are others out there like us. Only the people with massive retirement funds seem to post in these threads. We paid off 400,000 in student loans and focused on that instead of saving. The debt was too overwhelming and stressful to consider putting money towards anything else.

There are others and I am one of them! DH and I are both 33 with one child and I am SAHM. DH makes 190K. 150K in retirement but after buying our house we have no other savings (we have family in case of emergency). DH has 200K of student loans and we are 8 years into a 10 year repayment. Between that, very pricey health insurance, and mortgage we are putting about 20K into retirement this year and thats it. DH will get a bonus of about 5-10K that we will mostly use to rebuild our savings and fix up house.

You're living beyond your means. With such step loans and other expenses you should have bought a less expensive house or should be working. right your reason to not save for retirement may be your mortgage but then in a few years it will be kids' activities or tuition.