How much are you saving for retirement?

[Zen]

I've budgeted out to 2021 and my estimates are that by 2050 with 401k matching I'll be at a staggering...ly small fraction of a million. Assuming my job is the same for 30 years at the same salary. My goal of passing on 1m to future progeny is looking pretty distant at the moment. How much are you saving for future years, if any?

 

[Omar310]

What is this "saving" you speak off?

 

[John Rabbit]

Not enough. But once I get my car paid off I'm going to increase my 401k contributions.

 

[Pilgrimzero]

I think I have a couple hundred for a rainy day.

 

[shaneo632]

I'm a freelance journalist, so basically nothing. State pension at 75 and working until I die, basically.

 

[Soapbox Killer]

Hoping my 5 kids make up for me not saving a nickel.

 

[QuigleyMcShine]

8% of my paycheck goes into 401k. Work matches 50% of the first 6% (so basically another 3%).

I've also maxed out my Roth IRA the last two years.

 

[SmarmySmurf]

I have negative savings (also known as debt), does that count?

 

[Nothing Loud]

I'm at a top company but I only have $17k in my 401k at 27 and I'll need to cash it out next year most likely due to financial emergencies. Also since I have $90k in state school debt for my bachelors. Lmao at the financial security of this dumb shit country's retirement system.

 

[Strangelove_77]

HAHAHAHA

What?

 

[Omegasquash]

20%.

And that's going up to 25% over the course of the next few years.

 

[vertigo]

I live paycheck to paycheck RIP!!!!

 

[OMEGALUL]

retirement, what's that? Hopefully I die young and not worry about living as a broke and homeless old man.

 

[hoserx]

about 10% to 401k but thats really it. I should step it up.

 

[Deleted member 8468]

My retirement plan is becoming a watsteland wanderer with my dog.

 

[FliX]

I try to save 50% of my post tax income.

 

[Doober]

Anywhere from $500-$800 per paycheck into a 401k. I also have a pension, so between the two I SHOULD be ok.

 

[Aranjah]

The short and unsatisfying answer is "as much as I can."

Which at the moment is somewhere in the ballpark of a 5-digit number that's less than one year's salary for me, so ...could be better, could be worse.

 

[Tater]

I max my 401k contributions, the company kicks in another 3%. I'm above the Roth contribution cap right now, I would try to contribute via a backdoor roth, but the pro rate rule seems to stop me there.

Do what you can while you're young. You never know what's going to happen, but historically time is on your side if you invest in the market.

I got married after the housing crash, when the market was in the dumps. Getting divorced four years later, she got a chunk of the increase during those points in time which hurt... but I'm still up overall, and I'm still in better shape than many people I know who have saved nothing.

 

[Massicot]

I'm contributing to a 401k at the pre-tax cap, but started saving late. I should be able to hit that 1x salary at 30, maybe 31.

Sadly, my job doesn't offer a pension. They do contribute a bit to the 401k though.

 

[TMC]

30%. Maxing out my Roth IRA and the remaining percentage goes towards my 401k.

 

[DarthWalden]

I put aside 10% of my paycheque, however I frequently have to dip into it because it also serves as my savings which is probably a terrible strategy.

 

[Deleted member 41178]

My current plan is to retire at 55. Thats been a plan I've been working on for the last 12 years, at the moment I'm actually ahead of schedule. The intention is to retire from my career to spend more time with my family whilst maybe doing the odd consultancy job and living off of savings and the income from rental property. Possibly flipping auction property if the right ones are on the market.

 

[Darth Karja]

I have a small amount in a 401k. And 25x that in credit card debt.

 

[Powdered Egg]

My children are richer than I am. I have $0 in retirement, they have around $10k saved for college already.

 

[Gwarm]

Maximized 401(k) and attempting to do the same with an IRA. Hopefully that will allow for an early retirement, assuming I'm about to work in my career for at least another 20-30 years.

 

[Ikuu]

Invest around 50% of what I earn at the moment.

 

[Deleted member 1635]

Over 30% of income across 401k (max), Roth IRA (max), and index fund investment account. Unfortunately, I didn't start this much earlier in my career.

 

[Landy828]

Hoping my SO turns into my sugarmama, haha.

 

[Deleted member 2802]

I think I should be ok.

The only scenario I see going sour is if Bitcoin becomes the new form of currency

 

[Extra Sauce]

8% of my pitiful paycheck goes to my 401k, plus 4% employer matching. I guess it could be worse.

 

[mattiewheels]

How much is considered a good amount to have?

Considering how much debt so many people have, this may become a thing.

 

[adj_noun]

I minimize my collateralized losses by maximizing my index funds into blue chips while leveraging my 401K into high interest bonds netting me just kidding when I retire I'll be eating playing cards

 

[Mitch]

I don't see myself having a retirement fund for at least another 10 years. So probably never.

Screwed myself when I moved to another state in 2016 and blew through my savings.

 

[Teiresias]

I'm maxing out both my 401k and my Roth IRA and have been for about six or eight years now.

 

[Swig]

I think its about $1000 a month. I max out my IRA and contribute to get my match at work and then some. I don't have kids and have a pretty good job. If I made less money and had kids, it would be a lot harder to make that work. I'd like to eventually max out my 401K at work, but it's a lot of money to max that out and I do some non-retirement savings/investing.

 

[mhayes86]

Starting in 2019, my company will raise its match from 3% to 4%. If I bump my current 401k contribution by 4% at my current salary, I'll hit the 2019 maximum.

 

[honest_ry]

Fuck all.

I really dont want to live past 70.

 

[Deleted member 11985]

I put away a little over 10%. I have $20k at age 30 right now. It's certainly not bad, but it's still below the recommended levels. You're supposed to have 1x the salary you want to retire with at age 30. I could survive off $20k/year when I'm older, but it would be a tight life.

Besides starting late, another reason why I'm behind is because I have $70k in student loan debt. I'm way overpaying that every month because it's too stressful to have hanging over my head all the time.

 

[Deleted member 18742]

23 and I got like $2k. I might bump my contribution up to like 15%-20% since I am single and not really buying / investing into anything. I just have a shit ton of cash put in my savings.

But then again, we are going to get a recession very soon so it might be kinda risky

 

[AliceAmber]

That's cute.

Good for people who can save. But I'm unfortunately not one of those people. Maybe one day!

 

[Violence Jack]

I contribute about 6%-7% with employee matching half of that. It's not much so far, but I'm hoping to contribute more once I get a significant raise. Probably sitting around 50k right now in my late 30s.

 

[Shoes]

5% into my Roth 401(k), company matches 4% of it. I don't really see the need to open an IRA on top of it.

 

[BeforeU]

not enough but i contribute through my employer matching

 

[Deleted member 176]

0
theres no point

 

[Rassilon]

I don't know if retiring is even a thing that happens to artists.

Seems we just keep doing it until we drop dead


If I ever make enough income to save I'll do so sure

 

[Deleted member 36054]

I put in 3% but that goes up by 1% every year. I got a huge pay raise by switching jobs, so I'm saving to establish an emergency fund before I put more in.

 

[ElephantShell]

401k is basically the same as a Canadian RRSP right? I'm still a student but will be starting a job in January and plan to make RRSP contributions. My girlfriend is a nurse so has a really good pension (one of the few defined benefit pensions still around) around and puts around $600 a month into an RRSP.

 

[SpottieO]

Wife and I have no bad debt, max our 401k to what is matched, max our IRAs, save a little extra every month too. In total we probably save around 20% of our income.

 

[Oyashiro-Sama]

I'm hedging my bets on the Earth being uninhabitable by that time, and humanity dying out.