I wanted to get your thoughts on this and try to see where I am at compared to others. According to what I read, they say that one should have 1x of his yearly income by age 30 By age 40 he should have x2 the yearly income @50 x4, at 60 x6 and 67 you should have x8 your yearly income to retire comfortably Does this align with most of you?
OP what are your numbers?
Nope. I put away 665k as fast as I could. Total. That’s 80k a year for 20 years. If I retire at 65 that gets me to 85. Which I have a 20% chance of making it to. I live my life now and don’t care what that 665k turns in to as it is more then my projected need. My wife has her own 665k account. So In Theory based on how we live right now. We will get a raise when we retire....
I'm 37 and have... I think about 275k? I started saving pretty late but hit it aggressively once I did.
Only like 95k after 5 years so I guess I should up the contribution
I am closer to 40. My wife and I have combined 401K of $750K. With matching I contribute $32K and my wife contributes $24K every year.
There is limit of 18k per year, right?
Yes. That excludes employer contribution though.
Oh, didn't knew. I thought employer contribution b+ my contribution+hsa amount that company gives should be under 18k for no taxes.
18500 I thought. That’s what i put in right now.
How much does MS match?
50% of what you put in. So 9250 at max.
.50 on a dollar.
I have 130k. Less than 30 years old. So I guess that's less than 1x saved.
Probably should be a poll question