Revised Poll - How much have you saved for retirement?

[rigs32]

Here's a new poll option - hopefully it will be easy to understand.

When you divide by two, DH and I are in our late 20s and have saved about $3k each per year of fulltime employment. Granted the number per year has gone up, but forcing you to factor in those "lean" years in regards to savings.

Assuming you start working at 22 (yes it would be younger or older depending on education, but bear with me):
$50,000 for a 32 year old would be ~$5k per year
$50,000 for a 42 year old would be ~$2.5k per year
$50,000 for a 52 year old would be ~$1667 per year

That's a big difference!

 

[ksjayhawkfan]

Well Im not smart enough to figure out the options but my DH(29) has 23,000 in his 401K and it has been in effect for 2, almost 3 years. He also has about 10,000 in another account from when the 401K wasnt an option at his job.

 

[Clancycat]

If I did the math right $7500 per yr. $150,000 saved, he's 42 and has been working for 20 yrs averages out to $7500 per yr (150,000 divided by 20 yrs = 7500).

 

[Lisa loves Pooh]

I don't know--do company matches get included?

He's been employed for almost 9 years...so rough rough rough guestimate (he's not going to appreciate me calling and asking for the purpose of the DIS boards LOL!!) is in the 'hood of $8000 per year.

 

[rigs32]

do company matches get included?

Yes!

I assumed the point of the previous poll was to compare people, but it didn't take age and years of working into account. So, to compare what you have saved to what I do, I'd include ALL monies that are in your retirement plans.

 

[1MegMeg]

I am 26 and DH is 27. We both happen to be employed by the same employer (different locations) and have been 401K-ing for 2.5-3 years and between the two of us have ~$25,000.