What percentage of your TAKE HOME pay goes into savings for the future (ie percentage after taxes come out)? Vote for the option that is true for most months.
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Less than 5% aka 0
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We save my entire salary (with the exception of the last 6 or so months since we bought our home and have been doing renos).
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So this doesn't include 401ks that are taken out pre-tax?
In that case, we save ~12%
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I don't know how to vote because it varies paycheck to paycheck. Sometimes we can't put back any and sometimes we can put back $500. Just depends on how many bills are due coming up and any extra expenses we have.
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My 401K is post tax which muddies things up a bit.
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I voted more than 30% though it's mid-term savings as we'll put it towards a house in a couple of years.
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We max out our 401k plan and LOs 529 plan. We have an emergency fund, but we don't put a whole lot towards savings. DH would rather pay off the mortgage first.
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About 40% of my takehome goes to savings and I feel like it still isn't enough!
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About 20% not including retirement. About 30% of after tax Roth is counted too. My 401k is pretax ,so I have no idea what that would count as.
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That took some calculation! Retirement comes out pretax, but apparently I put 25% of my net pay into savings. I also put a token amount into a brokerage account, but that's more for fun than for savings.
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We are at 12% right now. Not including 401k, just 12% going straight into our savings account after 401k
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Including retirement savings or not? If I don't include retirement savings, we put 12.5% of after-tax income into savings. If we include retirement savings (my husband has a 401k taken pre-tax and I have an IRA taken after-tax) it bumps our number up to 25%. That also doesn't include some money that we're using to pay double on my car payment to get it paid off before LO comes.
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We aim for 15% (not including IRA/401k, which is about 10% off the top of the paycheck that we never see and doesn't get factored into monthly budget calculation).
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Right now, 0%. I voted not counting 401K, Roth IRA, ESOP though.
Also, we're paying daycare twice right now (paying into FSA & paying the daycare), so we're not really building much! At the end of the year we're going to get a ton of money back though, so if I were to factor everything back in, it would be about 5%
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It's hard to say, because DH and i have 10-12% deducted pre-tax from our pay to go towards pension plans and company stocks. After that it's probably 5-10%.
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We both put in 10% to pre tax 401Ks and then after that each month about 30% of our take home gets allocated between roth IRAs (maxed every year), LO's 529, and general investment accounts for us and for LO. We don't have a traditional savings account as we don't see the point since cash is earning about 0.01% right now.
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5-10%, but DH and I both have solid pension's (each) through our employer's, so while we could be better, we rely on the pension cushion a lot, too.
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17 comments