How much are you saving for retirement in 2019?

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miamivice
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How much are you saving for retirement in 2019?

Post by miamivice » Sat Nov 30, 2019 7:24 pm

How much are you saving for retirement in 2019? Include your contributions, employer contributions, and HSA accounts, if you are expecting to use your HSA accounts in retirement. Please do not say "max" without a dollar amount, because "max" means different things for different situations.

2019 has been a good year for us. We are on track for right around $50,000 into our retirement accounts, using the description above.

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RickBoglehead
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Re: How much are you saving for retirement in 2019?

Post by RickBoglehead » Sat Nov 30, 2019 7:29 pm

How much depends on one's income, retirement accounts available, and your expenses. So comparing numbers isn't actionable at all. Apples, oranges, and bananas.
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livesoft
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Re: How much are you saving for retirement in 2019?

Post by livesoft » Sat Nov 30, 2019 7:40 pm

OP did not mention IRAs, so add those in and we put about $54,000 into retirement accounts.
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fortfun
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Re: How much are you saving for retirement in 2019?

Post by fortfun » Sat Nov 30, 2019 7:45 pm

About $110k (well over half our pretax take home-adjusted gross is 76k). Playing catch-up from being clueless before finding this site. Also contribute a big chunk to my pension, which is not included below. Sadly, if DW and I had contributed like we should have, early on, we wouldn't need to save this much now. Lesson to young people reading this post: Save early and you won't need to save as much later!

roth 12k/yr
Her 457 19k/yr
Her 403b 19k/yr
Her Defined Contribution and match 15k/yr
His 457 19k/yr
His 401k 19k/yr
hsa 7k/yr
Last edited by fortfun on Sat Nov 30, 2019 9:18 pm, edited 4 times in total.

Triple digit golfer
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Re: How much are you saving for retirement in 2019?

Post by Triple digit golfer » Sat Nov 30, 2019 7:46 pm

I don't see the relevance, but I will participate. $39k total, give or take. I suppose $36k of that is for retirement.

$12k 401k (I am a HCE and our plan fails nondiscrimination testing, so i get a chunk refunded each year). $3k of this is the company match.

$6k wife's traditional IRA

$6k my Roth IRA

$12k taxable investments

$2.4k 529 plan

$1k or so net addition to savings as calculated. Would have been higher if not for $8k for new HVAC system.

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luminous
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Re: How much are you saving for retirement in 2019?

Post by luminous » Sat Nov 30, 2019 7:48 pm

$68,000 which is one maxed out 401k (pre-tax, company match, and post-tax (mega backdoor Roth)), and two backdoor Roth IRAs. My spouse does not work.

You said "saving for retirement" but seem to equate that with tax advantaged accounts. I and many others are also saving for retirement in taxable accounts.
50/20/30 US stock/international stock/bonds. Hope to semi-retire in 2022.

FedLawyerandBaller
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Re: How much are you saving for retirement in 2019?

Post by FedLawyerandBaller » Sat Nov 30, 2019 7:54 pm

I’m glad you started a thread on this. My wife just started at a University and she gets an absurd about of tax protected space. Anyone thing this is too much? We make about 280k before any of these contributions.

For 2019

Me:
TSP - 19,000
Match - 6500

Wife:

403b (her contribution): 19000
403b (her employer) 12000
401a (her contribution) 5500
401a (her employer) 10500
457b: 19000

No HSA because no HDHP. Occasionally I will do a backdoor Roth but didn’t this year because I feel like we’re putting enough towards retirement anyways.

Total: 91500 pre tax into retirement accounts.

runner3081
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Re: How much are you saving for retirement in 2019?

Post by runner3081 » Sat Nov 30, 2019 8:03 pm

$59K savings for retirement in tax advantaged accounts (also putting additional money into post-tax)

The $59k consists of:
401K + Match, 457B, Roth = Me
ROTH = Wife (not working)
HSA = Combined

I also have a pension on top of the 401K and 457B, but that is not calculated here.

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TomatoTomahto
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Re: How much are you saving for retirement in 2019?

Post by TomatoTomahto » Sat Nov 30, 2019 8:08 pm

luminous wrote:
Sat Nov 30, 2019 7:48 pm
You said "saving for retirement" but seem to equate that with tax advantaged accounts. I and many others are also saving for retirement in taxable accounts.
+1. For that reason, I can’t answer the question.
Okay, I get it; I won't be political or controversial. The Earth is flat.

Bir48die
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Re: How much are you saving for retirement in 2019?

Post by Bir48die » Sat Nov 30, 2019 8:11 pm

Zero. I saved a ton when I had a chance for the last 20 working years. With deferred comp was over 40% of my gross for the last ten years working.

tommy85
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Re: How much are you saving for retirement in 2019?

Post by tommy85 » Sat Nov 30, 2019 8:15 pm

Roughly 141k + contribution by wife to pension plan this year. That is about 70% of our post tax salary and about 45% of gross salary.

Gill
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Re: How much are you saving for retirement in 2019?

Post by Gill » Sat Nov 30, 2019 8:17 pm

You guys break my heart. During about 3/4 of my working years there was really no way to defer income other than a company profit sharing plan if there was one at all. When I left my first employer I had to take outright distribution of such a plan which was fully taxed as ordinary income at 42%. Even when IRA’s began the contribution limit was $2,000. My father was a physician and only had a small HR-10 plan. Everything else was exposed to tax at rates as high as 90%

Gill
Cost basis is redundant. One has a basis in an investment | One advises and gives advice | One should follow the principle of investing one's principal

mnsportsgeek
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Re: How much are you saving for retirement in 2019?

Post by mnsportsgeek » Sat Nov 30, 2019 8:20 pm

Somewhere around 50k I think. I don’t really calculate it. It was our best year to date.

Spirit Rider
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Re: How much are you saving for retirement in 2019?

Post by Spirit Rider » Sat Nov 30, 2019 8:23 pm

miamivice wrote:
Sat Nov 30, 2019 7:24 pm
Please do not say "max" without a dollar amount, because "max" means different things for different situations.
A dollar amount is useless humble bragging.

The only relevant normalized metric is your savings rate.

RevFran
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Re: How much are you saving for retirement in 2019?

Post by RevFran » Sat Nov 30, 2019 8:25 pm

About 32k:
19k 403b
8k company match
5k sep-ira

Plus another handful in non-retirement accounts, but earmarked in my mind for retirement ... I was feeling pretty good about this amount till I read the above posts!!

deanmoriarty
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Re: How much are you saving for retirement in 2019?

Post by deanmoriarty » Sat Nov 30, 2019 8:38 pm

19k (plus 9k employer match) in 401k, 5.5k in a tIRA, and about 100k in taxable (sadly I don’t have more tax deferred space).

That’s about 3X my post-tax living expenses, which I think coveys a more useful information to the reader.
Last edited by deanmoriarty on Sat Nov 30, 2019 8:50 pm, edited 1 time in total.

Gill
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Re: How much are you saving for retirement in 2019?

Post by Gill » Sat Nov 30, 2019 8:42 pm

Spirit Rider wrote:
Sat Nov 30, 2019 8:23 pm
miamivice wrote:
Sat Nov 30, 2019 7:24 pm
Please do not say "max" without a dollar amount, because "max" means different things for different situations.
A dollar amount is useless humble bragging.

The only relevant normalized metric is your savings rate.
That was my reaction to some of the earlier posts.
Gill
Cost basis is redundant. One has a basis in an investment | One advises and gives advice | One should follow the principle of investing one's principal

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snackdog
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Re: How much are you saving for retirement in 2019?

Post by snackdog » Sat Nov 30, 2019 9:09 pm

About same as previous years which was around 50% of pretax income, not including employer stock grants or mortgage transfers. Is this actionable?

RevFran
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Re: How much are you saving for retirement in 2019?

Post by RevFran » Sat Nov 30, 2019 9:11 pm

For what it’s worth, I don’t find the dollar figures useless to know. I often think I am saving a reasonable percentage of my income, but am never confident that in absolute terms it is enough, so I find knowing the range of what other people save interesting. For me, knowing that someone is saving over 100k a year — well, that feels interesting but very far remember from my situation. But hearing people proclaim saving 50k leaves me thinking “well, I probably can’t do that, but I could maybe do 40 in 2020.” Reading percentages wouldn’t necessarily have the same effect on me.

JoeJohnson
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Re: How much are you saving for retirement in 2019?

Post by JoeJohnson » Sat Nov 30, 2019 9:12 pm

Spirit Rider wrote:
Sat Nov 30, 2019 8:23 pm
miamivice wrote:
Sat Nov 30, 2019 7:24 pm
Please do not say "max" without a dollar amount, because "max" means different things for different situations.
A dollar amount is useless humble bragging.

The only relevant normalized metric is your savings rate.
Agree savings rate is definitely a normalized metric. I wouldn't categorize it as relevant given the two biggest factors (income, expenses) can vary wildly. It's fun to hear what others are doing, but it's not useful or relevant.

MathWizard
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Re: How much are you saving for retirement in 2019?

Post by MathWizard » Sat Nov 30, 2019 9:14 pm

65.5K.

scientist_87
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Re: How much are you saving for retirement in 2019?

Post by scientist_87 » Sat Nov 30, 2019 9:15 pm

401k (pre-tax with employer contributions) and HSA: $37k

skylar
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Re: How much are you saving for retirement in 2019?

Post by skylar » Sat Nov 30, 2019 9:29 pm

Without match, it would be $69500 (maxed out Roth IRAs, 401k, 403b, 457b), $74900 with 403b match.

EDIT: Forgot about HSA contributions - including those, it would be another $7000.
Last edited by skylar on Sat Nov 30, 2019 9:40 pm, edited 1 time in total.

snoberdale
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Re: How much are you saving for retirement in 2019?

Post by snoberdale » Sat Nov 30, 2019 9:33 pm

HSA - $7000
401K - $19000
529 - $13200
VTI - $15000

Total - $54200

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CyclingDuo
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Re: How much are you saving for retirement in 2019?

Post by CyclingDuo » Sat Nov 30, 2019 9:41 pm

miamivice wrote:
Sat Nov 30, 2019 7:24 pm
How much are you saving for retirement in 2019? Include your contributions, employer contributions, and HSA accounts, if you are expecting to use your HSA accounts in retirement. Please do not say "max" without a dollar amount, because "max" means different things for different situations.

2019 has been a good year for us. We are on track for right around $50,000 into our retirement accounts, using the description above.
Congrats on your good year! String a bunch of those together (consistency is KING) and you'll be in fine shape down the road.
:sharebeer

Our plans have been to save each day at least the amount that we spend, so 2019 has been no different in that regard with our savings.

Image
"Everywhere is within walking distance if you have the time." ~ Steven Wright

MathIsMyWayr
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Re: How much are you saving for retirement in 2019?

Post by MathIsMyWayr » Sat Nov 30, 2019 9:51 pm

CyclingDuo wrote:
Sat Nov 30, 2019 9:41 pm
miamivice wrote:
Sat Nov 30, 2019 7:24 pm
How much are you saving for retirement in 2019? Include your contributions, employer contributions, and HSA accounts, if you are expecting to use your HSA accounts in retirement. Please do not say "max" without a dollar amount, because "max" means different things for different situations.

2019 has been a good year for us. We are on track for right around $50,000 into our retirement accounts, using the description above.
Congrats on your good year! String a bunch of those together (consistency is KING) and you'll be in fine shape down the road.
:sharebeer

Our plans have been to save each day at least the amount that we spend, so 2019 has been no different in that regard with our savings.

Image
$202.48*365=$73,905.20

bugleheadd
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Re: How much are you saving for retirement in 2019?

Post by bugleheadd » Sat Nov 30, 2019 9:54 pm

19000 pre-tax 401k
6000 trad ira
3500 HSA

next year i will contribute after tax to 401k, which should be around another 19000

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Nate79
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Re: How much are you saving for retirement in 2019?

Post by Nate79 » Sat Nov 30, 2019 10:00 pm

CyclingDuo wrote:
Sat Nov 30, 2019 9:41 pm
miamivice wrote:
Sat Nov 30, 2019 7:24 pm
How much are you saving for retirement in 2019? Include your contributions, employer contributions, and HSA accounts, if you are expecting to use your HSA accounts in retirement. Please do not say "max" without a dollar amount, because "max" means different things for different situations.

2019 has been a good year for us. We are on track for right around $50,000 into our retirement accounts, using the description above.
Congrats on your good year! String a bunch of those together (consistency is KING) and you'll be in fine shape down the road.
:sharebeer

Our plans have been to save each day at least the amount that we spend, so 2019 has been no different in that regard with our savings.

Image
That chart doesn't make sense because what they are saying is the average spending per day is by far higher than the average income per person.

MarkBarb
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Re: How much are you saving for retirement in 2019?

Post by MarkBarb » Sat Nov 30, 2019 10:03 pm

19K pretax in my 401K
37K split between company match and after-tax contributions in my 401K rolled into Roth
6K pretax catch up in my 401K
7K backdoor Roth for wife
7K for HSA

Not sure how to quantify the contribution from my employer into my defined benefit plan

Plus more into taxable accounts

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Bogle7
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nothing

Post by Bogle7 » Sat Nov 30, 2019 10:07 pm

Zero$
I am age 71
Done with saving
Time to spend

cshell2
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Re: How much are you saving for retirement in 2019?

Post by cshell2 » Sat Nov 30, 2019 10:13 pm

Around 45% of gross.

H-Town
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Re: How much are you saving for retirement in 2019?

Post by H-Town » Sat Nov 30, 2019 10:19 pm

miamivice wrote:
Sat Nov 30, 2019 7:24 pm
How much are you saving for retirement in 2019? Include your contributions, employer contributions, and HSA accounts, if you are expecting to use your HSA accounts in retirement. Please do not say "max" without a dollar amount, because "max" means different things for different situations.

2019 has been a good year for us. We are on track for right around $50,000 into our retirement accounts, using the description above.
Why don’t you count taxable accounts as retirement savings? We put roughly 50k in retirement accounts and 70k in taxable accounts. All of it is for early retirement savings.

28fe6
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Re: How much are you saving for retirement in 2019?

Post by 28fe6 » Sat Nov 30, 2019 10:20 pm

Maxed 401k ($19,000 + $2,000 match), and maxed my Roth ($6000 after tax) from cash flow. This will be my baseline unless something big changes. I make 135k so that's 20% of gross. Not enough because I have the dreaded Late Start towards retirement.

This year I also maxed wife's IRA ($6000 pretax) and invested about $7k in taxable, but those were with sign-on bonus at the beginning of the year. So actually about 30% this year, but I can't afford to do the same next year with my current expenses. I would love to find a way to make this my new baseline, but I think I would have to move to a cheaper place, drop down to 1 car, and/or have my wife work.

dreamrrr
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Re: How much are you saving for retirement in 2019?

Post by dreamrrr » Sat Nov 30, 2019 10:25 pm

I've been retired for 5 years now but I'm still saving approximately 50%+ of pretax income, which comes out to savings of around $56K this year.

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anon_investor
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Re: How much are you saving for retirement in 2019?

Post by anon_investor » Sat Nov 30, 2019 10:26 pm

Around 30% of gross into tax advantaged accounts (excluding any taxable investments).

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CyclingDuo
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Re: How much are you saving for retirement in 2019?

Post by CyclingDuo » Sat Nov 30, 2019 10:27 pm

Nate79 wrote:
Sat Nov 30, 2019 10:00 pm
CyclingDuo wrote:
Sat Nov 30, 2019 9:41 pm
miamivice wrote:
Sat Nov 30, 2019 7:24 pm
How much are you saving for retirement in 2019? Include your contributions, employer contributions, and HSA accounts, if you are expecting to use your HSA accounts in retirement. Please do not say "max" without a dollar amount, because "max" means different things for different situations.

2019 has been a good year for us. We are on track for right around $50,000 into our retirement accounts, using the description above.
Congrats on your good year! String a bunch of those together (consistency is KING) and you'll be in fine shape down the road.
:sharebeer

Our plans have been to save each day at least the amount that we spend, so 2019 has been no different in that regard with our savings.

Image
That chart doesn't make sense because what they are saying is the average spending per day is by far higher than the average income per person.
And you wonder why more people don't have enough in savings, and are living on CC's, along with their auto loans, student loans, etc... . 8-)

It's based on average household income and household expenditures.

2017 Data was collected from the Bureau of Labor and Statistics and assembled into those charts.

https://www.gobankingrates.com/saving-m ... nds-daily/

https://www.cnbc.com/2019/03/13/heres-h ... a-day.html

https://www.fool.com/retirement/2019/03 ... a-day.aspx

https://www.foxbusiness.com/personal-fi ... ds-per-day

2106/2017/2018 here:

https://www.bls.gov/news.release/cesan.nr0.htm

2015 data here...

https://www.bls.gov/opub/btn/volume-4/c ... by-age.htm

The chart makes sense to our household as we are a dual income household and more or less live on one of the incomes while we save the other. Expenses are getting dialed in during our final working years as empty nesters, so it would be hard to compare our household now with one that had children in it.

Too tired to dig up the chart for 2018, but here's one from 2013 from the Burean of Labor and Statistics that helps illustrate...

Image
"Everywhere is within walking distance if you have the time." ~ Steven Wright

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Nate79
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Re: How much are you saving for retirement in 2019?

Post by Nate79 » Sat Nov 30, 2019 10:49 pm

CyclingDuo wrote:
Sat Nov 30, 2019 10:27 pm
Nate79 wrote:
Sat Nov 30, 2019 10:00 pm
CyclingDuo wrote:
Sat Nov 30, 2019 9:41 pm
miamivice wrote:
Sat Nov 30, 2019 7:24 pm
How much are you saving for retirement in 2019? Include your contributions, employer contributions, and HSA accounts, if you are expecting to use your HSA accounts in retirement. Please do not say "max" without a dollar amount, because "max" means different things for different situations.

2019 has been a good year for us. We are on track for right around $50,000 into our retirement accounts, using the description above.
Congrats on your good year! String a bunch of those together (consistency is KING) and you'll be in fine shape down the road.
:sharebeer

Our plans have been to save each day at least the amount that we spend, so 2019 has been no different in that regard with our savings.

Image
That chart doesn't make sense because what they are saying is the average spending per day is by far higher than the average income per person.
And you wonder why more people don't have enough in savings, and are living on CC's, along with their auto loans, student loans, etc... . 8-)

It's based on average household income and household expenditures.

2017 Data was collected from the Bureau of Labor and Statistics and assembled into those charts.

https://www.gobankingrates.com/saving-m ... nds-daily/

https://www.cnbc.com/2019/03/13/heres-h ... a-day.html

https://www.fool.com/retirement/2019/03 ... a-day.aspx

https://www.foxbusiness.com/personal-fi ... ds-per-day

2106/2017/2018 here:

https://www.bls.gov/news.release/cesan.nr0.htm

2015 data here...

https://www.bls.gov/opub/btn/volume-4/c ... by-age.htm

The chart makes sense to our household as we are a dual income household and more or less live on one of the incomes while we save the other. Expenses are getting dialed in during our final working years as empty nesters, so it would be hard to compare our household now with one that had children in it.

Too tired to dig up the chart for 2018, but here's one from 2013 from the Burean of Labor and Statistics that helps illustrate...

Image
Thanks for the links. The last two from the BLS are really good and thorough because they actually give the household composition and spending. With the household spending and average number of persons per household you can get a better per person spending. According to the BLS the average household pre tax income is higher than spending. Probably after taxes gets to just a few single digit savings rate. For example in your last link for one of the age groups the average spend for the household was about 5
$59k and 3.4 persons per household giving a per person spend of $48/day.

I think the news articles that were linked are mixing up per person and per household numbers.

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CyclingDuo
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Re: How much are you saving for retirement in 2019?

Post by CyclingDuo » Sat Nov 30, 2019 11:17 pm

Nate79 wrote:
Sat Nov 30, 2019 10:49 pm
I think the news articles that were linked are mixing up per person and per household numbers.
Yes, the news articles were all over the map from the original source. It should be based on the household. Or, to be exact, based on the footnote at the Bureau of Labor and Statistics called "per consumer unit" and explained what that "consumer unit" was in this footnote...

(1)Consumer units include families, single persons living alone or sharing a household with others but who are financially independent, or two or more persons living together who share major expenses.

Staying on topic of how much to save each year, I like the graph (I only thought of it in terms of our household) because BH Member KlangFool sticks with his discipline of saving the equivalent of a year of expenses each year as he prepares for retirement. That's always made sense to me, and I love to break our household income and budget down into daily/weekly/monthly/annual numbers. Now that we are empty nesters, we qualify as the latter part of that footnote: two...persons living together who share major expenses. That's our consumer unit. So we spend $182 per day, and save $182 per day as a unit. Fits closely in the age category of the chart above that we fall under: Young Baby Boomers.

:sharebeer
"Everywhere is within walking distance if you have the time." ~ Steven Wright

tev9876
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Re: How much are you saving for retirement in 2019?

Post by tev9876 » Sat Nov 30, 2019 11:27 pm

$20 less than I should be. Apparently I forgot to adjust my 401k percentage after the last pay increase and have been under contributing what I should have to max out, including catch up. If I max out early I lose employer contribution so I start the year a few percent low and increase later to hit the cap on the last paycheck. Just realized it today and contributing the max allowed for the last two pay periods leaves me at $24,980. Should not delay retirement too much.

tev9876
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Re: How much are you saving for retirement in 2019?

Post by tev9876 » Sat Nov 30, 2019 11:27 pm

$20 less than I should be. Apparently I forgot to adjust my 401k percentage after the last pay increase and have been under contributing what I should have to max out, including catch up. If I max out early I lose employer contribution so I start the year a few percent low and increase later to hit the cap on the last paycheck. Just realized it today and contributing the max allowed for the last two pay periods leaves me at $24,980. Should not delay retirement too much.

EPCOTCenter1982
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Re: How much are you saving for retirement in 2019?

Post by EPCOTCenter1982 » Sat Nov 30, 2019 11:32 pm

Good grief! Ya'll are making me feel less than acceptable right now. If I tried my hardest, 20K is the most I could muster.

Do all of you have extremely high paying jobs?!

3504PIR
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Re: How much are you saving for retirement in 2019?

Post by 3504PIR » Sat Nov 30, 2019 11:46 pm

EPCOTCenter1982 wrote:
Sat Nov 30, 2019 11:32 pm
Good grief! Ya'll are making me feel less than acceptable right now. If I tried my hardest, 20K is the most I could muster.

Do all of you have extremely high paying jobs?!
I tend to think people here make a crazy amount of money for the most part, but if our savings rates are proportional to our income, the amount is irrelevant. Someone making a very high wage might only save 10%, but in actual dollars make it seem like you and I are way behind. Not true, as other factors measure what actually matter.

Additionally, I get the impression that some people who post here seem to not realize that retirement savings can be accomplished beyond retirement accounts. One only has to look at an average portfolio review to see that while retirement accounts may be maximized, savings rates ar not and answers generally center around retirement accounts only.
Last edited by 3504PIR on Sun Dec 01, 2019 1:49 am, edited 1 time in total.

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TierArtz
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Re: How much are you saving for retirement in 2019?

Post by TierArtz » Sat Nov 30, 2019 11:51 pm

2019 is going to exceed all others for amount saved because my employer first offered after-tax 401k contributions, starting in August. Retirement savings included:
401K (basic, match, catch-up, and after-tax): $62K
IRAs (backdoor Roth x2): $14K
Non-qualified deferred compensation: $39K
Total to retirement "plans", including deferred comp: $115K
Vanguard taxable brokerage: roughly $105k designated for retirement from "new" money, not counting ESPP shares sold at Fidelity and largely passed through my bank account, used to fund the IRAs, or money market shares bought and later sold to pay for a vacation.
Total: $220K = roughly 4x yearly expenses not covered by my pension. Just a few more years!

We also invested $3k each in three different 529s: $9K

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HomerJ
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Re: How much are you saving for retirement in 2019?

Post by HomerJ » Sun Dec 01, 2019 12:07 am

miamivice wrote:
Sat Nov 30, 2019 7:24 pm
How much are you saving for retirement in 2019? Include your contributions, employer contributions, and HSA accounts, if you are expecting to use your HSA accounts in retirement. Please do not say "max" without a dollar amount, because "max" means different things for different situations.

2019 has been a good year for us. We are on track for right around $50,000 into our retirement accounts, using the description above.
This is a silly question. How is it possibly useful?
Last edited by HomerJ on Sun Dec 01, 2019 12:43 am, edited 1 time in total.
A Goldman Sachs associate provided a variety of detailed explanations, but then offered a caveat, “If I’m being dead-### honest, though, nobody knows what’s really going on.”

TIAX
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Re: How much are you saving for retirement in 2019?

Post by TIAX » Sun Dec 01, 2019 12:08 am

deanmoriarty wrote:
Sat Nov 30, 2019 8:38 pm
19k (plus 9k employer match) in 401k, 5.5k in a tIRA, and about 100k in taxable (sadly I don’t have more tax deferred space).
Keep in mind that the IRA limit went up to 6k so you may want to contribute that additional $500.

civility
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Re: How much are you saving for retirement in 2019?

Post by civility » Sun Dec 01, 2019 12:13 am

RickBoglehead wrote:
Sat Nov 30, 2019 7:29 pm
How much depends on one's income, retirement accounts available, and your expenses. So comparing numbers isn't actionable at all. Apples, oranges, and bananas.
I agree. Percentage of annual income makes more sense along with dollars.

civility
Posts: 94
Joined: Mon Jun 17, 2019 9:35 pm

Re: How much are you saving for retirement in 2019?

Post by civility » Sun Dec 01, 2019 12:15 am

EPCOTCenter1982 wrote:
Sat Nov 30, 2019 11:32 pm
Good grief! Ya'll are making me feel less than acceptable right now. If I tried my hardest, 20K is the most I could muster.

Do all of you have extremely high paying jobs?!
I can empathize you.

civility
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Joined: Mon Jun 17, 2019 9:35 pm

Re: How much are you saving for retirement in 2019?

Post by civility » Sun Dec 01, 2019 12:23 am

HSA 7000 (12% of annual income)
IRA (me and spouse) 12000 (20.7% of annual income)
Employer contribution 9800 (16.9 % of annual income)
Total - 50.6%

dru808
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Location: mid pac

Re: How much are you saving for retirement in 2019?

Post by dru808 » Sun Dec 01, 2019 12:40 am

12.5% pretax into a sep + 6k into a Roth IRA
60% US equity | 25% International equity | 15% US Treasury bonds

Erwin007
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Re: How much are you saving for retirement in 2019?

Post by Erwin007 » Sun Dec 01, 2019 1:46 am

Around $136-141k, depending on wife’s i401k employer contribution, TBD when our taxes are done next spring.

HSA: $7,000
Backdoor Roth IRA x 2: $12,000
457(b): $19,000
403(b): $19,000
403(b) match: $9,500
Taxable account: $60,000
Wife’s i401k: $10-15,000

Doesn’t include an employer contribution to a performance incentive type plan, which usually amounts to a medium 4-figure amount, but isn’t guaranteed.

Some people’s percentages of salary to retirement contributions on here are astounding. I’m having to make up for lost time that I spent in school with either no income or very low income just to catch up.

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