No. of Recommendations: 0
We're rather aggressive savers, both in dollars and in percent of our income. We are paying off 8% of our mortgage principal this year and more next year, plus maximum 403(b) at 17% of our joint income, maximum Roth and Edu IRAs, and an additional 10% of income into our regular portfolio. The total is about 40% of our pre-tax income, going into reduced debt or long-term and retirement savings.

I'm fairly sure we're saving far more than most people, but we're not denying ourselves anything we want now. Our income has simply gone up quite a bit, and we've used half the increase plus any surplus we don't need to raise our savings rate or cut debt. I'm curious how much other fools are saving and whether they plan a set dollar amount, a fixed percentage of income, or just whatever is left over. How do you decide how much to save?
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement