Hello, longtime lurker but not poster. I am curious about what percentage of your pre-tax salary you save? Ive been working for around 6 years now -- I just did a rough calculation based on my earnings and what I have in savings (bank, stocks) as well as what I have in retirement accounts and I come out to saving about 20% of my total pre-tax income. This does not include equity I have in my house -- just liquid assets such as savings, checking, CDs, stocks, 401k, etc.
What percentage of your pre-tax salary do you save each year or each month?
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Guidelines for posting in this thread
To provide the most relevant information, it's suggested that you include the following:
- Total yearly pre-tax income - Size of household, ages, # of kids - Location - Total yearly monthly expenses - Estimated taxes - Savings (pre-tax income - expenses - taxes) - Savings % (savings/pre-tax income)
Message edited by: jayK on 2006-05-12 14:52:32 CDT
bterwilliger
Senior Member
posted: May. 11, 2006 @ 11:01p
Wrong thread
Goalkeepr
Senior Member
posted: May. 11, 2006 @ 11:06p
My savings rate at the moment is around 25% of my pre-tax income... though that amount includes my 401(k) contribution (5%) and employer match(4%).
I'm trying to save as much as I can before those money-sucking machines called children come into my life... I've heard they can get expensive.
mariojm
Senior Member - 2K
posted: May. 11, 2006 @ 11:55p
85%-90% of post-tax ... around 65-70% of pre-tax.
manuel
Greedy Member
posted: May. 12, 2006 @ 12:04a
50% of pretax
Kismet4Max
Senior Member
posted: May. 12, 2006 @ 12:15a
Not as much as I would like, but around 25-30%.
tashayar
Senior Member - 4K
posted: May. 12, 2006 @ 12:25a
Not as much as I would like but there isn't that much room to spare at the moment.
15% pre-tax to my 401(k) 15% post tax net to the emergency fund
This doesn't include any stocks just raw savings nor equity in my home.
markkundinger
Senior Member - 2K
posted: May. 12, 2006 @ 12:29a
15% into the 401k, but total savings, not sure...
... according to MS Money, it's about 34-42%, depending on what period. Not bad considering half of my take-home is spent on rent. (no kids of course).
nathan82
Thrifty Member
posted: May. 12, 2006 @ 12:48a
I put 7% into my 401k.
I calculated my (monthly savings * 12) / annual salary
and came up with ~ 24%. So I'm saving about 31% at the moment.
addy2000
Member
posted: May. 12, 2006 @ 12:51a
With 401k contribution (5%) and employer match (also 5%) I'm actually saving 34% of pre-tax income. Thanks for bringing this up OP... it's an interesting topic that I haven't looked at in quite this way before.
anxman69
Senior Member - 1K
posted: May. 12, 2006 @ 1:12a
After bonus, stock, and side income: 61% pre-tax
Engineer
Senior Member - 2K
posted: May. 12, 2006 @ 5:31a
401k - 15% with 1.5% employer match.
Not sure about aftertax % but I do max out two Roth's and have started putting more money into general savings. Will put more in the coming year as I now have finished paying off my house (January) and car (February). . If I were guessing, I would say that the Roth's and savings account for about 12 to 15% additional.
RS4Rings
Senior Member - 8K
posted: May. 12, 2006 @ 5:47a
100%, Paycheck gets directly deposited right into a savings account.
farscott
Member
posted: May. 12, 2006 @ 6:42a
We save about 23% of pre-tax income. We would like it to be more, but my wife is now a stay-at-home mom. We used to save her entire salary, so our savings rate has been more than halved.
scorched03
Thrifty Member
posted: May. 12, 2006 @ 6:49a
mariojm said:85%-90% of post-tax ... around 65-70% of pre-tax.
holy moly. i thought mine was high at 30%ish.. but 65%?
wonder if people that have 6 figure incomes save more or less.
i remember this post way back of a new grad that was a teacher. he said he tried to save 90% of his salary. too much work no play?
clearanceman
Senior Member - 9K
posted: May. 12, 2006 @ 6:49a
About 15%.
Daddio1949
Senior Member
posted: May. 12, 2006 @ 7:11a
About 15%, but I am putting my 2 children through college. So, not to bad.
dealsforus
Member
posted: May. 12, 2006 @ 7:21a
I would say we save about 20% but I was the only earner so far. My wife will start working in next couple of weeks and we hope to save more. No kids here
nikopopodo
Member
posted: May. 12, 2006 @ 7:54a
Here in NYC I'm saving 56% of my post-tax pay...it used to be 65% in LA, but living in Manhattan is just plain expensive.
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