Spouse and myself are in Mid 30s both work for big 4 have a kid living in HCOL, save 100k a year in Cash after all expenses, medical and tax deductions. Is it decent or we are under par compared to the market?

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Since you average family makes less than you are saving in cash, I will let you decide if that is decent or not

likefunnysmartuplifting

I make $16M per year. I feel like I am behind the market. AMA

funnylike
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Lol FOH

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This bowl is too much hahaha

funnylike

No, you guys are pathetic. You should be saving 120% of your income, bare minimum

likefunny

Lol @ the not humble brag.

If you want someone to validate your question, my wife and I are early 40s, no kids, make around 1.5M combined, and probably save / invest 500k of that. So, yea do better I guess?

funnylikeuplifting

Only making $1.5m with two incomes in your 40s?! SAD!

funny

What’s hhi? Are you including retirement?

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What is this market that you speak of

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This thread is a bunch of 22 year analysts who don’t realize how expensive life gets once you have a family if you want to stay in a VHCOL area and retire at a reasonable time.

Saving $100k a year when the cheapest three bedroom apartment in Manhattan is $1.8M isn’t much, and you’ll need $10M saved for retirement if you want to maintain an upper middle class lifestyle in a VHCOL area after retiring.

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Right, factor in if you want a starter home in VHCOL CA/NY, you’re looking at $1.5-2m range. At these interest rates with a 20% down ($300-500k cash) you’re still looking at a $9-13k/mo+ mortgage and property tax payments. The interest paid back alone would be millions over 30 years.

Then you need factor in retirement, healthcare, cost of children, etc. that could easily be multi-millions.

It’s interesting to see how naive so many other professionals are thinking they’ll get away with saving $10-30k/yr in VHCOL. $500k/yr household is not rich just because analysts/seniors/managers are struggling.

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So behind bro

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Your stupidity gives me hope that my dumbass can also make it to a point where I’m saving 100k+ in cash

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There should be a bowl for upper class people who think they’re behind financially.

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GTFO!

Decent, but not amazing for nyc.

Not sure why my question is trolled, we recently moved to US.

…do you not understand what an expense is?

Saving money for future multi-million dollar purchases is not an expense. But it’s something you need to do.

funny

Best spend your remaining dollars on sleeping bags and tents. Start scouting a bridge to sleep under.

GTFO with that

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