Do You Know Your Savings Rate Percentage? (You Should)

Do You Know Your Savings Rate Percentage? (You Should)

Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.

[camelaMar]

I have to admit I’ve never sat down to figure mine out. I save a portion of my income every month, but I couldn’t tell you what percentage it actually is.

[GSR]

For the last 4 years, I've invested 50% of my annual gross salary. This year, I dropped it to 40% to enjoy life more than I already am.

[jonathonvoegtli]

Mine gets confusing. 20% into 401k+5% match. 2000$ (which is roughly 2%) into an hsa +1800 match.

Then i work a side hustle that 100% goes towards my roth ira. If 100% of this is going towards an ira should i have this income reduce my other percentages?

[gregvanommeren]

28% into my Roth IRA, HSA, and Roth 401k (all 3 maxed out). 37% including employer match. Leftover funds after all my expenses/budget categories (around $500 monthly) goes to house down payment fund.

[ezrablount]

My saving rate is 38% with the employer match! So altogether I’m saving $1300 a month

[printedmarble]

21% savings rate 29% if including employer match. Still not as high as I'd want but I recently got a large promotion so after killing some debt, I'll start shoveling the difference into other investments. Plus I'm 22, almost 23, so I think I'm doing well lol

[toxicitysocks]

Hard to calculate when a significant portion of income comes from stock grants… but it doesn’t stop me from trying

[helomech]

I don't know my exact rate because I move extra money into savings every few months. But I do know my auto savings is just over 33% or 4600 a month. But again that doesn't include the extra money when my savings account goes over its set amount. All of it is after tax. Not including my employer match.

[Bagley]

No, I don't even think I know my gross income which makes knowing my savings rate is impossible.

[duneme]

I’m honesty no where near you guys!
But, my Wife will Max out her 50+ 401K this year and we have paid off Rental Houses!

[drREGANBRUENGER-]

After losing my job and turning 41 lately, I'm at a turning point in my life. What options do I have for making big investments now that I have $425k saved for an early retirement at age 50, $10k in an HSA, and a property that might provide an extra $200K?

[TehkNinja]

I save $1600 a month to my 401k and roth ira. After bills rest goes to a high yield savings account and I use the interest to pay down extra on student loans and house.

[SweetPotata]

29% of our gross + probably another 8-10% for investments.

[kckuc]

When your in your 50s you should be saving a lot more, double

[jrr]

Right at 25 between 457, 403 and pension contributions from myself; I don’t count my employee contributions to the pension in my savings rate.

[tannerdriscoll]

70% of my gross at 23. You could probably guess I’m going for FIRE, or as Brian says FINE

[TheFirstRealChewy]

Yes, I know our retirement savings rate.

[jeffb.]

10% towards my pension (extra 27% contibution from my employer). 6% towards my 457. 7% towards my Roth.

[howardkenneth]

WHY don't CFP's allow themselves to be held to a performance benchmark? If they don't outperform some reasonable benchmark by double their fee, is a CFP worth their absurd fee?

[kevinedward]

DO YOU KNOW how much your portfolio LOSES each year due to CFP AUM Fees?