How much to save for retirement reddit
NettetWe have just saved enough to pay off all our student loans, and are trying to understand how to shift our savings into retirement mode while taking advantage of the tax situation we are in. Once we contribute the maximum to my 401(K), is there anything else we can do, besides contributing to individual investment accounts? Thank you for any advice. NettetHello everyone I’m 33 and new to retirement saving. I’ve been stumbling around Reddit reading as much as I can but it always leads to more unanswered questions. Here’s …
How much to save for retirement reddit
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NettetHello everyone I’m 33 and new to retirement saving. I’ve been stumbling around Reddit reading as much as I can but it always leads to more unanswered questions. Here’s my current situation I joined the ibew a couple of years ago so I now have a pension it probably has about 30k in it so far. NettetPeople say to save so much for retirement because so few people are doing enough. Most regulars on here are, but that should really be expected in a place like this. But I …
NettetSo if one to were "account" for SS as $360,000 he'd still be retiring with the equivalent of $640,000. Most people retire with drastically less than $640,000. Actually CNBC … NettetIn your 30s save 5% of gross income. In your 40s save 15% of gross income. In your 50s save 25% of gross income. . clearlychange • 10 mo. ago. I save 43% of after-tax …
Nettet14. apr. 2024 · But from the summary, this is "The analysis was based on the assumption ... a contribution of 10 per cent of their salary (including an employer-matching program) per month to a savings plan."; a major reason renting can end up cheaper is that you can invest the money you haven't tied up in a house, so this seems like a poor assumption; … NettetI've always been more of a saver than a spender, but I don't think I got serious about it until I was 32. Until then, I saved primarily in bank accounts, stacked cash in an IRA but …
Nettet8. jul. 2024 · We recommend that you save 15% of your annual salary for retirement. That's a great starting point, and there's plenty more to learn about how much you …
Nettet14. apr. 2024 · View community ranking In the Top 20% of largest communities on Reddit. Lifelong renters need to save 50% more for retirement than homeowners: Study (Not sure this takes into account the past couple of years really.) ... easy homemade lorne sausage recipeNettet11. jun. 2024 · It really depends on cost of living. 30k is enough to live comfortably in much of the US and afford to set aside for retirement and to buy a modest home. (Especially while currently living with parents and have minimal housing costs in the meantime). They said they're saving 80% currently so that's about 24k annually. easy homemade lofthouse cookiesNettet11. apr. 2024 · IRAs, 401(k) plans and other popular retirement savings vehicles have different tax treatments. Generally speaking, some are pre-taxed and some are taxed at withdrawal. For example, IRAs that are funded by money that was already taxed—say you take $1,000 from a paycheck and put it in a Roth IRA—won’t be taxed when you … easy homemade lip balm recipeNettetAlso the income needed is usually calculated as some portion of your pre-retirement income (I commonly see 70% to 80%). I was a late starter into the workforce (military … easy homemade lotion without beeswaxNettetWhen I'm doing retirement planning, I always look at what I'll need to spend per year in retirement and use that to determine how much I can save. For example, if you need … easy homemade lip balm without beeswaxNettetLifelong renters need to save 50% more for retirement than homeowners: Study. Well of course, and add in the inflation in real estate for last 30 years or so, and it’s a huge … easy homemade lotion barsNettetI say "base", because my wife is working 60% FT and I'm working 90% FT by choice, to spend more time with the kid. But, we only spend about 50-55k/yr. We've saved $250k … easy homemade mac and cheese velveeta