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Happy Festivus y’all!
How is utilization calculated?
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10% 401k pretax, 7.3% Roth IRA post-tax, then between 10-20% get saved on top of that each month. Savings % was higher, but I bought a house earlier this year, so still spending extra cash getting it fixed up how I want.
No idea how everyone is able to afford saving so much. I contribute 10% to retirement and 4% to emergency fund. After all my expenses (rent, student loans, food, etc) I’m barely breaking even after that
Ten percent of nothing is—let me do the math here. Nothing into nothin’. Carry the nothin’…
My wife and I keep our savings rate at/near 50%, so we're effectively living off of one income.
Sm1- that’s 0 to the power of nothing. Compound interest
0%. Any excess cash hits student loans.
5% into Bitcoin. Aaand... it's gone.
I recently paid off my house. So my savings rate is almost 50%
Just like CH1 - spend all mine, save the wife’s. (She makes more) - so overall saving around 60ish%
What’s your point EY10? I don’t see anyone guilting people for not being able to save as much money because they have kids here.
I usually hold it all in checking and once a quarter move everything over my usual spend into my investment accounts
10% to a Roth 401(k)
24% to 401k, max HSA, max ROTH, about another 5k towards taxable stuff or cash savings .
-25%
8.5% Roth IRA (Max). 23% 401k (may drop if it brings my marginal rate too low). Now just trying the higher level out. I frankly don’t think audit is stable with the automation, outsourcing, falling revenue, stagnant wages, and cuts right and left. Yes - putting money where my mouth is. Let’s just say I’m living in self-inflicted poverty to shore up an uncertain future. Got a mortgage as well. When I do spend, if it ain’t food/clothes/necessity - it goes to a non-perishable / depreciable asset that has return potential. I.e. a placeholder of value that can be later sold for even. No travel vacations in the last three years. Few consumable products. Sorry it’s so pessimistic - just figure I’d have to explain 30%+ saving with a starting salary and mortgage. Saving is “as much as I can” outside these two retirement pools which I don’t quantity for as it fluctuates too much. Smaller in amount. Maybe 8% again. Yep, I am boring as a result haha. Bring lunch. No fancy clothes. Oh well. Love the work though!
13% pre tax plus whatever percentage maxing my Roth is
17% 401k, 4% Roth, 10-20% of remaining amount goes into savings
I don't use a specific percentage. I set savings goals for 2, 5, and 10 years and just track towards that. It's working out to around 40% right now though.
15% Roth 401k, 10% take home into emergency savings, and $75/month into a mutual fund lol (going into my staff 2 year!)
@GT3, not everyone has the same expenses. Gotta take in to account levels