How much are you socking away for retirement each month?

Grad Student making 19k/year

I just got my tax refund... so I guess there's that..

Thanks very much. Your the man. I should have mentioned that the matching perk with my employer was equal. 6 percent of my pay is placed in cref and my employer matches it. So at 100,000. 12,000 combined

seems to be like everyone posting is a high roller!

I am 33, make 45k a year and put away $350 a month. .

I'm 59. I work as a temp lawyer, typically grossing between $50k (in a bad year, like this one) and $100k.

I live strictly hand to mouth. It's been a very long time (like ~14 years) since I put away anything for retirement, and I have no savings account--just checking. I live in NYC, with one kid in college and another about to be.

Fortunately, my spouse makes good bank. I've accepted a lower income to have the flexibility to take care of my kids--a period that (perhaps) is coming to an end. I'll think about career changes once I actually get the younger kid out of high school.

I fully expect to have to work until age 75 or my death, whichever comes first.

Impressive. Can you expand on how you have (and what exactly you mean) by $3.15 million in the bank?

24 years old

make $43k-self employed, net profit is more like $25k though..(first year so i had a lot of start up costs)

I put away $125 a month in an IRA lol....

This will be my first whole year being self employed in my business so i'm hoping in can put in twice the amount this year.

I do own a home though, how am i doing letsrunnian's?

I am 29 and make 38k per year. My monthly retirement savings consist of $200 in a Roth IRA, $190 in Roth 401k with company match of $190 in a regular 401k. I currently have $3,800 in the Roth IRA, $1,500 in the Roth 401k and $22,500 in the regular 401k. I'm currently paying $400 per month towards my auto loan (min. payment is $200, so doubling it up). When the loan is paid off, I will probably increase the Roth IRA contribution by $100 and re-direct the other $300 towards a student loan at 6.8% interest.

I'm 43 and have a defined benefit pension plan into which I contribute about $500/month and my employer $1000/month into. Despite most people thinking this type of plan is great, I'd much rather have that money into my own investment account instead. I may come out a little behind that way if I were to live to 90, but if I die at 65 or 70 instead, my kids would have the lump sum of my accounts instead of the pension benefit just dying with me.

28, little savings in the bank (around 10k) and about 10k between retirement accounts. I had some savings in my mid-20's that I mostly blew on travel, which I don't regret at all. I took a position a couple years ago that had me living in a very high-cost city on very modest income. Now, as planned, I have relocated where my company pays all my housing and living expenses, and am able to put away all my post-tax income (around 4k/month) on top of $800/month into my 4011k.

I figure they'll find me slumped over my desk one day. I don't save shit. My three college age kids got all my money.

In 2012 For a salary employee, the 401k max, with employee match for a person under 50 is 50k a year. ( last year it was 49k)

My wife puts away 50k a year.

I put away 5k in a simple Ira as I am self employed and work part time.

We have a 15 year mortgage, put away $700 a month in 2 529 accounts for our two kids, and a further $800 a month in auto withdrawals into mutual funds.

Wow, thought I was doing pretty well before reading this thread. Still think I'm ahead of most my age.

Age 24

Salary 47,800

Currently putting 18% into 401k with a 5% match. Works out to about $915 per month.

Only debt is about $8k left on a car loan.

Have $10k in an emergency fund.

$11k in mutual funds/ETFs in a taxable account.

$50k a year in her 401k huh? What country do you live in because it's not the US.

Sure it seems like everybody has a lot of money. Some are being less than honest, while many others do have more money than the average person. Somebody who makes little money and saves nothing probably isn't taking the time to read a savings thread.

I make a lot more money than the average person, and save quite a bit. My number still disappoints me though because it could easily be about $3k a month more if we didn't piss money away on entertainment and other unnecessary items.

We've fallen into the same trap as almost everybody. You spend at the level you earn. I need to spend at a level about half of what I earn but don't see it happening.

As a CPA, I frankly don't believe many of these posts.

Flagpole

Boy, i really wrote that poorly.

I work independently from our business. My day job pays me 100,000/year. Our business is secondary, my wife will draw a salary in a year. I won't.

No car payment Or associated costs.

No cell phone bill.

75,000 in cref. My company matches my 6 % contribution.

10,000 in Roth. I put 5,000 in for 2010 and 2011 and will do so for the remainder of my working life.

500/Month to an additional Roth 403b.

If you get a minute I would appreciate your new projections.

I'm 25 years old. I'm an officer in the US Air Force in my 3rd year of active duty.

Roth IRA - $416 a month for $5,000 a year. I will receive 50% of my pay once I reach 20 years of service (age 42) and then an additional 2.5% for each year over 20. This equates to $60-80k per year depending on what rank i reach. Totals as of today are below..

Roth IRA

Name Fund & Account. Value

Vanguard Target Retirement 2040 Fund - $28,078.04

Subtotal $28,078.04

I also put $200 a month in to each of the following non-retirement mutual funds.

Name Fund & Account Value

Vanguard Energy Fund Investor Shares - $4,323.09

Vanguard Long-Term Bond Index Fund - $4,153.11

Vanguard Emerging Markets Stock Index Fund Admiral Shares - $10,198.16

Vanguard 500 Index Fund Admiral Shares - $16,352.69

Vanguard Total International Stock Index Fund Admiral Shares - $17,034.49

Subtotal $51,061.54

Portfolio Total $80,139.58

I just refinanced my mortgage at 3% and started putting $650/month into a 403b as of today (to go with the 2K/month that my employer puts in the 401a).

Not sure why the CPA doesn't believe the posters here. I think the point about non-savers not gravitating to this topic is probably right. (And the guy who said that his wife puts $50K into the 401k probably misheard "$15K.")

50 years old

~160K base salary

16K + 5K catch-up contribution to a standard 401K

Company provides profit sharing contributions into my 401K on a semiannual basis. Usually about 15-20% of base salary. so using 15% I guess I'd be averaging about $43K into my 401K each year.

Question to others: Why are you contributing to Roth 401K rather than a tax-deductible 401K? I'm not seeing the logic here.

Most people don't make 160k, so a Roth may be a better solution for them. They might as well pay the taxes now, let it grow tax deferred and then when they're 59.5, they have to pay no taxes or penalty on the amount taken out of the Roth. Plus, Roth accounts aren't subject to RMD requirements. I'm not sure about Roth 401k's, but with Roth IRA's contributions can always be taken out without tax or penalty.