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Old 12-02-2012, 06:03 PM
 
106,621 posts, read 108,757,383 times
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With an early retirement at not quite 62 coming up in 1 year and nine months we pulled out all the stops and are saving and adding all we can.

Im maxing out the 401k at 22k plus maxing out my hsa account at 7500.

We are reinvesting all interest income which has been running over 60k a year.

Plus my wife collects her first social security check this month so we will bank that as well and that should be about 8k a year.

All in all we were lucky the last few years to be able to ramp things up so much in the last down of the accumulation game.

The nice thing is after investing for so many decades the investments are able to generate and gain more in some years then we even make working.
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Old 12-02-2012, 08:15 PM
 
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I am now saving about 50% of my take-home pay since I've gone back to work a contract job after being unemployed for the last year. I'm a saver--always preparing for job loss, which unfortunately has happened a few times in my 25 years of working.
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Old 12-02-2012, 11:10 PM
 
748 posts, read 820,117 times
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Quote:
Originally Posted by mathjak107 View Post
The nice thing is after investing for so many decades the investments are able to generate and gain more in some years then we even make working.
Some folks (albeit rare) make more during long retirements continuing to invest than they did during their working careers.
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Old 12-03-2012, 12:17 AM
 
16,393 posts, read 30,267,578 times
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Quote:
Originally Posted by concept_fusion View Post
Some folks (albeit rare) make more during long retirements continuing to invest than they did during their working careers.

Rare, I don't know.

A lot of the people I know are doing better financially in retirement because their spending is generally less during retirement and they are no longer purchasing private medical insurance as they qualify for Medicare.
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Old 12-03-2012, 05:37 AM
 
1,636 posts, read 3,165,098 times
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Currently saving around 10% of my take home for my savings account (I'm 23 and was pretty cash poor as this is my first job), and 15% is going to a Roth/401K. I plan on upping those amounts as soon as I get some more cash cushion and stop having health issues .
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Old 12-04-2012, 08:23 AM
 
249 posts, read 504,161 times
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We save about 24% of our after-tax income. However, we also put $100 extra/month into our mortgage and we both have 5% automatically taken out of our paychecks before taxes so the % goes up slightly with that, even though we never see that money.

We put about $500 into cash accounts and $800 into investments. I am naughty and sometimes take that cash out for things like a trip or a new furnace, etc. So I do touch it occasionally.

Quote:
Originally Posted by concept_fusion View Post
Some folks (albeit rare) make more during long retirements continuing to invest than they did during their working careers.
My parents make more in retirement than we do working.
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Old 12-04-2012, 09:55 PM
 
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I currently don't have a "Savings" Plan. My fiance however has 401k and stock purch. Threw wal-mart. She only adds 3% of her check in 401k (Part-time and thats the most they'll match.) And 75$ bi-weekly in stock as they match her 50/50 all year up to 1,000. She'd put a bit more but we just can't afford her to take any more hits lol. I start my 401k this coming up Aug. (It'll finally be offered to me! ~) I'm going to do 6% for the first year or two until we get more safety money, and she finishes school up. Then I'm doing 12% my company matches 100% up to 5k a year. And I'd like to get the full match every year so by the time I'm 30 without interest I'd have saved roughly 65-75k, And by the time I get ready to retire I should be banking alot more as I've moved up some, and taking some finance classes once my fiance is done with school to try and get myself into the front office making better money.
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Old 12-05-2012, 11:57 AM
 
18,547 posts, read 15,577,181 times
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Average over the last 3 years, about 15%.
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Old 12-05-2012, 02:39 PM
 
Location: Boise, ID
8,046 posts, read 28,469,020 times
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Quote:
Originally Posted by mdwfa2001 View Post
this posts how much you save not what % of income you save...i don't know why people are so afraid to reveal a dollar figure...no one knows you on here.
Actually, the OP who asked the question posted their own in the form of a percentage. So assumedly, that is what they wanted.
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Old 12-10-2012, 11:05 PM
 
4,338 posts, read 7,506,118 times
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What would happen if the 401K and Roth IRA had no maximum limits?
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