Just curious. What's your age, gross annual salary, and how much are you putting away strictly for retirement each month (regardless of where that money came from, investment vehicles, etc.)?
Just curious. What's your age, gross annual salary, and how much are you putting away strictly for retirement each month (regardless of where that money came from, investment vehicles, etc.)?
My number includes monthly post-tax savings, 401k contributions and company match, dividend income, and principal on mortgage payment. People don't usually count that but I believe it's as important as any other savings vehicle. About $9k, 41yo, no salary info.
29 years old, single, no debt, renting
401k - $1250 + $167 company match
Roth IRA - $417
Total of $1,834 per month / $22,000 per year
37
401K $1416
401K match $725
Roth IRA $417
After tax account $850
Total $3408
23
250+125 match into 401k.
625 into Student loans (12000 left)
401k maxed out.
Put 6k into HSA (500 and change a month). That money can be rolled into retirement. Just need to stay healthy.
23% @ 250k/yr
We are 40 & 45 with joint gross of about 22K/mo.
2K/mo into 401K -- all from my employer.
1K/mo towards principal on mortgage.
Somehow, we spend all of the rest.
401k 22,000
Match 10,000
Roth 6,000
I know he asked for monthly but I only get paid once a year.
I can tell you I don't put much because I have a pension but with state budgets going south I am getting scared.
23
$125K + bonus
$21500/year into retirement accounts ($16.5K into 401K, $5K into Roth). Company match on the 401K adds to the total.
Age: 41
Salary: $150,000
Mandatory D.C. Plan: $7,500
Employer D.C. Match: $15,000
Roth 403(b): $17,000
Non-Deductible Traditional IRA: $5,000 x 2 = $10,000
Total Retirement Savings per Month: $4,125/month or $49,500 annually
Non-Retirement Savings: $1,250/month or $15,000/yr
Am I out of my mind or do these threads just attract the "big savers"? My guess is the average American puts -100%-5% into retirement each month.
I thought my household was doing pretty good. We put 10% into the 401k, and that's it. Should I be worried that it we are way below most of the people on this thread? We spend a sh!tload on travel each year, but that's because I think we'd rather see the world and have new experiences while we're relatively young and not when we're 60+.
I think if things were truly dire, we could put $100k into retirement each year, but as it stands, we only put $20k in. Should we make some adjustments, or are we ok? I admit we blow a lot of money, but we live a very happy and full life as a result. Our one rule is that we spend our money on experiences and not things, so we live pretty simply, day to day.
The replies to any thread on LRC is a function of self-selection, so yes, a thread such as this will definitely attract those who seek affirmation that they are on the right track.
Your rule about spending money on experiences and not things is also one that I share with my family. Last year we spent $33,000 on travel, and if I said how many days of the year I spent traveling (almost all for fun), no one would believe me anyway. Fortunately, I have a career with flexible hours and an ability to incorporate travel into my schedule.
As far as an appropriate level of savings, financial advisers often point to a 10% level of savings as a starting point. But, my personal calculations, using a variety of different retirement savings calculators under a various scenarios, generally reveal that 15-18% is more realistic, if one has the goal of maintaining the same income/lifestyle in retirement as during the working years. The 15-18% level is also consistent with that suggested in books such as The Bogleheads' Guide to Investing and the Random Walk Guide to Investing.
Some of these guys are crazy. I know people who immediately put 25% of their paychecks into savings/retirement, and while that's great, most people do not. I put a high % into Roth IRA but I make very little, so, alas, doesn't go very far.
53
100k
50k
Gotta love letsrun, where everyone runs 100 mile weeks, 15:00 minute 5Ks, bangs russian models, kids out of college regularly pull six figures +, and don't forget, is blue collar and a REAL man
its funny how many people on here make $100,000+
I make $600,000 and put away half of that every year into a fund that yeilds 40%
I make $120,000
I put away most of it as I just graduated college and still live with my parents.
What is a Non-Deductible Traditional IRA?