(Closed) How much retirement do you put away?

posted 6 years ago in Money
  • poll: What portion of your income is put away in retirement?
    0% : (18 votes)
    17 %
    1-5% : (21 votes)
    20 %
    6-10% : (36 votes)
    34 %
    11-15% : (15 votes)
    14 %
    16-20% : (8 votes)
    8 %
    21-25% : (0 votes)
    26-30% : (1 votes)
    1 %
    31-35% : (2 votes)
    2 %
    36-40% : (1 votes)
    1 %
  • Post # 3
    Member
    14485 posts
    Honey Beekeeper
    • Wedding: June 2011

    Saving (in general, but specifically so we can retire early) is a huge priority for us.  We are both on exactly the same page.  We contribute the max we can 401k and RothIRA.  We have both done this for almost as long as we have been working after college. 

    Post # 4
    Member
    750 posts
    Busy bee
    • Wedding: November 2012

    4% to 401K, which my employer matches.

    Right now our focus is paying down debt and developing disposable income savings for the future. We already own a home and have 1 of our 2 vehicles paid off.

    Post # 5
    Member
    366 posts
    Helper bee
    • Wedding: March 2013

    @sweetcrackers:  I’m in the same position, 5% goes to 401k 4% is matched by my empoyer. I care more about getting my student loans paid off (which currently take about 20% of my take home pay) and saving up a cash account for emergencies (another 15-20%). When I have more of my debt paid off I’ll start maxing out retirement accounts.

    Post # 6
    Member
    1659 posts
    Bumble bee
    • Wedding: July 2012

    Wow! You go girl — I put away 5% and FH does 12%. His matching is awesome, and mine is just okay. We don’t have a ton of funds to put aside right now, but retirement is a huge goal for us. Aside from our mortgage, we have zero debt and intend to keep it that way!

    Post # 7
    Member
    1917 posts
    Buzzing bee
    • Wedding: April 2012

    I max out to my 401k and Roth IRA.  I don’t remember what the percentage is.  My employer only matches 3%, but it’s worth it to me.  It bumps be down to a lower tax bracket and I don’t even miss the money since it is never in my account.

    Post # 9
    Member
    3000 posts
    Sugar bee
    • Wedding: July 2012

    I put in 6% of my income and my employer matches half, up to 3%, which is what I get.

    Post # 11
    Member
    10571 posts
    Sugar Beekeeper
    • Wedding: January 2011

    For me, right now not enough ($0 which is all of my salary).  Darling Husband is doing some and I’m aware of our finances but the number automatically deducted is slipping my mind right now, maybe 4% (plus matching).  We are saving beyond that though.

    It’s not much, but our tax bracket is going to change significantly over the next few years and we want to buy a house.

    After we buy a house (may use the HBP) and I am working we will make sure that our RRSPs will even out (and that more is going in!)  RRSPs have a max of 18%, otherwise there isn’t much that you can do specifically for retirement here, unless you’re counting pension plans or just savings that people earmark as for retirement.

    Post # 12
    Member
    13010 posts
    Honey Beekeeper
    • Wedding: November 1999

    I put in 5%, which is matched fully by my employer.  Once student loans are paid off and we have a house, I’l start putting more in the retirement account.  But right now, my focus is throwing more money at student loans, so those will be gone faster!

    Post # 13
    Member
    148 posts
    Blushing bee

    @sienna76:  GREAT for you! Very responsible. My parents spend money they don’t even have & I doubt my step-dad will ever retire… The children of these kinds of people typically either follow in their path or see the adverse effects & choose to build up a solid nest egg (the route you’ve gone). It’ll definitely pay off in the end. 🙂

    Anyway. I do 6% (employer matches half) & I’m pretty sure the Boyfriend or Best Friend does 12%. We take out as much as we can w/out compromising recreational activities & the wedding/house fund. Retiring early is important to both of us!

    Post # 14
    Member
    693 posts
    Busy bee
    • Wedding: July 2011

    I’m putting in 8% at work, of which 5% is matched.  Darling Husband isn’t doing anything, but he is still in a minimimum wage job and went back to school part time 3 years ago (only 1 semester left!).  Once he finds a better job (hopefully by early next year), we’ll bump it up significantly.

    Post # 15
    Member
    1562 posts
    Bumble bee
    • Wedding: November 2011

    I put 6-10% – my own portion.  FI gets government disability from the VA department, and will for the rest of his life, so there is no contribution there, but it’s significant what we receive each month.

    Post # 16
    Member
    3081 posts
    Sugar bee
    • Wedding: August 2012

    6% which is the maximum that is fully matched by my employer. I’ve seen all the figures that show how important it is to contribute as much as possible now because it grows so significantly when compared to putting more in even a few years down the road, but it’s SO HARD to put in additional money when we have so many things to pay for right now!

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