When calculating my saving ratio I count everything I save. It doesn't matter if it is going into an emergency fund, a taxable investment account, or a retirement account. Some people even consider the principal on the mortgage payment as saving. It doesn't really matter where you are saving the money, it just matters that you are not spending it. So you could just calculate what % of your income you spent in a month and subtract that from 100 and that is your saving rate.