(Closed) Income/Savings/Retirement

posted 6 years ago in Money
Post # 3
3461 posts
Sugar bee
  • Wedding: May 2012

Gross: 183K (both of us)

Net: Not sure exactly, maybe 122K?  (Hard to say because our metro transportion, 401ks, health accounts all optional items, come out of it.  And we didn’t get married all that long ago+keep generally separate finances, so I’m not sure exactly on his net)

Retirement: 44K (max 401k + Roth IRA)

Liquid: Anything remaining.  We’re both good savers.  Hard to say exactly, maybe 30K-35K?

In our mid-30s.  Condo is paid off so we just need to pay monthly condo fee+utilities.  Also have my grad school loans, although I’ve paid off over half in less than 5 years.  We are looking to move in a year or two, at which point we’ll end up with higher living costs.  Despite this…Darling Husband doesn’t think we have enough resources for a kid.  🙁

Post # 4
11752 posts
Sugar Beekeeper
  • Wedding: November 1999

What is your gross and net monthly income?  N/A

How much do you put into liquid savings a month? 20% into savings

How much do you put into retirement (your own contributions, not employer match)? 10% into 401K

All the rest basically goes to student loans and bills 🙁

Just paid off one credit card today – woohoo feels soo good! (the only one with an interest rate above 0% too!)

Post # 5
2295 posts
Buzzing bee
  • Wedding: April 2013

What is your gross and net monthly income?

Don’t want to say exactly but I will say it’s healthy & has quadrupled in the 6.5 years I’ve been in the professional work force. I’ve worked really hard and found a place where I fit/my skills are valued.

How much do you put into liquid savings a month?

I have different savings goals I strive towards. My first savings goal was my emergency fund (6 months expenses). That does not get touched. Then I wanted to save for major car repairs. Once that was done, I’m now saving to fund my Roth IRA this year. After that, I’ll save towards moving expenses because I see an event in the future. After that, I’ll be saving towards replacing my car (which is probably 5 years off). At any time I can slow down one of those goals and save towards something sooner, like a vacation or a large purchase.

Fiance and I are going to try to save towards paying cash or like 75% down on a house once we get married. We are going to be moving for a couple of years anyway so we’d be renting anyhow. We’re planning on living as though his income is our ONLY income (that way we don’t get stuck in a 2 income trap, I actually make slightly more than him but want the option to stay home or work flexible hours if we decide to have kids) and banking mine while also maxing out retirement.

How much do you put into retirement (your own contributions, not employer match)? I am at 20% and maxing out my 401k. Every time I’ve gotten a raise, I increased it slightly so I never really felt like I was giving something up until I hit the max. I also try to fully fund my Roth IRA, although I haven’t done it every year (took a break when I bought a home). This will be the last year I’ll be eligible to fully fund it while Fiance and I are both working, we’ll be in a reduced bracket once we combine incomes.

There is NOTHING like time when it comes to retirement investing. The #1 thing someone can do for themselves is never let themselves get into major lifestyle creep – put at least half of all raises automatically away into some sort of retirement or savings. Also, have a big cash cushion that is ONLY for emergencies… it makes life go so much easier.

I went through Dave Ramsey’s Financial Peace University 8 years ago and it was a game changer for me. Fiance and I went through it together over the summer and are really on the same page about finances – it’s a huge gift to be starting out with a plan to win with money and in our relationship on that topic.

Post # 6
6124 posts
Bee Keeper
  • Wedding: August 2012

I listen to Suze Orman’s podcasts at work (they are all free), but i don’t really find any of her advice to be ground breaking.  I think it’s stuff I already know/heard about.  However, i do feel very grateful for our own personal situation after hearing some of the stories, so maybe that’s why I do listen to them now and then!



What is your gross and net monthly income?  …

How much do you put into liquid savings a month? Less than 1% go into a liquid savings.  Why?  We put a lot towards retirement and also because the savings amount is already good where it’s at.

How much do you put into retirement (your own contributions, not employer match)? We put away 35% of our own money into retirement accounts or ~$47k per year. Another 14.2% of our income goes into a 401a as a benefit from our employer, so 49% of our income total goes into retirement vehicles.


I made a post about retirement contributions a while back if you want to look it up.


It could come down to your living expenses as to why you don’t feel like you’re putting away enough.  Car payments, student loans, house payments can all add up leaving little to set aside.  We live in a very inexpensive college town, housing is cheap here, and we don’t have any student loans or car payments which helps us be able to save so much. 

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