Curious how much and how you guys are saving for retirement? I save $20-30k a year into a SEP. My wife maxes her 401k and has a pension. I'm considering doing some deferred comp starting next year.

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I am doing 15% of income, with the max allowable going to my 401k/PS (Self employed Indy). I think it was like 55k last year.I have to give more to my employee to get to that max, but it's still about breakeven with the tax benefit to me, and it makes her happy.I will continue to do 15% until I am funded to retire any time, which is still a ways off for me.

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I am investing around 25% but I started in this business at age 40 and the most I made before that was 40k. For those that are younger I think what Luvindy is doing is good. Put it away while you have it.

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I put a lot of money into startups - say 20%. Very little goes into retirement accounts anymore. We also started buying properties.Condo in Chicago. Condo in the Blue Ridge Mountains. And my office building. Generates $48k in rents per month.

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As a former T Rowe Price Employee and Independent RIA now, the numbers have changed a little over the years. The goal is for younger folks - 40 and under, to target about 20% of your income/year. 10-15% for those over 40 who are on track with their savings relative to their age. The most important question is not always 'how much', but rather 'in what vehicle' and the type of expected returns. 401k/SEP - put as much as either the match or that you are comfortable with not having immediate access to. The remainder can be split between many other vehicles for wealth accumulation, protection, etc - some products are more accessible than others. Talk to an Advisor about them to figure out how that might work best for your situation.

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My wife and I both max out our 401(K)'s at $18,000 per year per account. We have done so for over 10 years now. About 5 years ago I also started doing our deferred comp. at 10% of my FYC.

NY Life 1 - thanks for that advice - very helpful!

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