Author Topic: Halfway through 2015! How do your savings look?  (Read 34965 times)

Lady Fordragon

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Re: Halfway through 2015! How do your savings look?
« Reply #50 on: July 03, 2015, 02:05:16 PM »
DH and I have both maxed out our Roth IRAs and our currently on our way to maxing out our 401ks.  My husband has been maxing out his employee stock purchase plan (ESPP) and HSA.  On top of that, we've put another 22k into a vanguard index fund.  Overall, I believe that we're at around a 75% savings rate so far this year.

Faramir

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Re: Halfway through 2015! How do your savings look?
« Reply #51 on: July 03, 2015, 05:30:40 PM »
56% savings rate incl my & employer contributions to pension plan.

Goal was 52%.

Last year was 40%.




REAL WORLD EXPAT

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Re: Halfway through 2015! How do your savings look?
« Reply #52 on: July 04, 2015, 04:58:33 AM »
Just did our half year results and we are at a rate of 68% which I'm really happy about given we paid for a cruise and a flight back to the UK during the first half of the year!

Hoping the second half of the year will bring the rate up to 75% which was my (very optimistic) goal for 2015 and beyond.

Mikhial

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Re: Halfway through 2015! How do your savings look?
« Reply #53 on: July 04, 2015, 05:12:54 AM »
I'm not doing nearly as good as I'd like. I received a 42% pay bump this year, but so far I've only saved 34% YTD. The rest of the year should be better though.

I had a medical emergency that took my savings rate down 10% and (unnecessary) moving expenses that took it down another 10% or so. There's still vacationing and the holidays coming up, but it shouldn't be too hard to bump it back up.

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kaposzta

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Re: Halfway through 2015! How do your savings look?
« Reply #54 on: July 05, 2015, 04:02:32 PM »
Wow, congrats to all who have 60-80% savings rate! :)
Mine was a mediocre 51%, but I managed to increase my stash by 14% since the beginning of 2015 (from 32.7k to 37.5k - not much, but please consider I live in Hungary, and my net salary is $850/month :) ).

My goal for the next 6 month is to increase my savings rate over 55%.
Next year I'm targeting 60% as I'll be able to get rid of a few expenses (no more pricey Spanish classes), and income tax will be a bit lower (16% --> 15%).

Bardo

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Re: Halfway through 2015! How do your savings look?
« Reply #55 on: July 06, 2015, 05:46:54 AM »
What do you consider savings rate? Personally I only count the money saved based on my net take home. I do not include the 30% taken out of my paychecks for my employer 401K plan.

Same as you.  I treat take-home pay as controllable, while 401(k) deductions are on automatic pilot.

I pick up the value of my 401(k) and other investments as part of my net worth tracking.




mskyle

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Re: Halfway through 2015! How do your savings look?
« Reply #56 on: July 06, 2015, 07:49:09 AM »
What do you consider savings rate? Personally I only count the money saved based on my net take home. I do not include the 30% taken out of my paychecks for my employer 401K plan.

Same as you.  I treat take-home pay as controllable, while 401(k) deductions are on automatic pilot.

I pick up the value of my 401(k) and other investments as part of my net worth tracking.





Hmm, this doesn't make a lot of sense to me - it just seems too variable depending on what retirement instruments your employer offers. My employer offers a SimpleIRA, and I can only put $12,500 into it each year. If I switched jobs to a place where the pay was identical but they offered a 401(k), I would be able to shift some of the savings I am currently putting into taxable accounts into my 401(k), but I'd still be saving the same amount.

Wads

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Re: Halfway through 2015! How do your savings look?
« Reply #57 on: July 06, 2015, 08:05:57 AM »
It's all the same in the end, saving is saving. I think its more of a mental game that works for me, knowing I only have control over 70% of my income and base my saving rate off that amount.

Sibley

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Re: Halfway through 2015! How do your savings look?
« Reply #58 on: July 06, 2015, 08:54:12 AM »
Well, only a small amount of money goes into savings every month. But I've paid off one credit card, $8k on the other and am projecting it'll be paid off by the end of the year. Debt payments are approximately 50% of my take home.

But I've made huge strides in optimizing expenses. Refi'ed the student loans to cut the rate in half and am planning on paying that off by end of 2016. Phone bill is going to be significantly reduced. Changed payment on insurance to get the up-front payment discount.


Candace

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Re: Halfway through 2015! How do your savings look?
« Reply #59 on: July 06, 2015, 09:28:18 AM »
Well, only a small amount of money goes into savings every month. But I've paid off one credit card, $8k on the other and am projecting it'll be paid off by the end of the year. Debt payments are approximately 50% of my take home.

But I've made huge strides in optimizing expenses. Refi'ed the student loans to cut the rate in half and am planning on paying that off by end of 2016. Phone bill is going to be significantly reduced. Changed payment on insurance to get the up-front payment discount.

Nice job Sibley! You're walking the same path as those who save huge percentages of their income. You're paying off debt and slashing expenses. Congratulations!

zephyr911

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Re: Halfway through 2015! How do your savings look?
« Reply #60 on: July 06, 2015, 01:39:57 PM »
Well, only a small amount of money goes into savings every month. But I've paid off one credit card, $8k on the other and am projecting it'll be paid off by the end of the year. Debt payments are approximately 50% of my take home.

But I've made huge strides in optimizing expenses. Refi'ed the student loans to cut the rate in half and am planning on paying that off by end of 2016. Phone bill is going to be significantly reduced. Changed payment on insurance to get the up-front payment discount.
Some SR calculations include debt payoffs. Regardless of whether you include that in your math, you're doing great things for your future. Kudos on the refi too. That'll surely help you kill the debt off faster.

Zikoris

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Re: Halfway through 2015! How do your savings look?
« Reply #61 on: July 06, 2015, 02:32:06 PM »
I'm at 64% right now. Right where we usually are.

Cookie78

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Re: Halfway through 2015! How do your savings look?
« Reply #62 on: July 06, 2015, 02:38:41 PM »
What do you consider savings rate? Personally I only count the money saved based on my net take home. I do not include the 30% taken out of my paychecks for my employer 401K plan.

I think MMM would include that amount in both your income and your savings, then calculate savings rate.   

Dammit! I knew this, but I forgot all about my pre-tax deductions. I was just using the numbers going in and out of my bank account. I just did a really rough calculation and it looks like my savings rate is currently 60-65%, not 50%. Not sure if I should go back and recalculate everything now, or just stick with what I was doing.

Re-calculated. 62% :)

MVal

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Re: Halfway through 2015! How do your savings look?
« Reply #63 on: July 08, 2015, 10:06:27 AM »
My goal by the end of 2016 is to be as close to $100K net worth as possible. By the end of next year, I hope to have one year of living expenses saved in liquid savings, so about $16,000. I aim to have $50K in my 401K and $20K in my Roth as well as $7,000 in my HSA.

I am hoping this will be a decent enough pile of FU money that will allow me to perhaps seek a different career direction.

mrshudson

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Re: Halfway through 2015! How do your savings look?
« Reply #64 on: July 08, 2015, 11:12:10 AM »
Was at 74% by the end of Q1, but actually dropped to 72% of take home. Things should hopefully change in the upcoming months to move back on to the 74% target for the end of the year. I need motivation to push it up a few more percentage points! 

Mrs. D.

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Re: Halfway through 2015! How do your savings look?
« Reply #65 on: July 08, 2015, 09:27:16 PM »
Geesh. 2015 has been a bit rough so far. DH finished grad school, which we paid for as we went (no debt!). Now he is working and I'm staying home to have a baby while finishing my master's. So far we've financed all of this on my teacher's salary. Now we're in the process of moving cities and buying a house, both of which are bleeding through our savings faster than we can ever hope to keep up.
We did manage to max out our Roth IRA's for 2014, partly by putting our entire tax refund into the Roths. We added $1K to a brokerage account. We also have built in savings through my teacher's retirement plan and his 401 K. All in all, it may be 20% so far.

zephyr911

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Re: Halfway through 2015! How do your savings look?
« Reply #66 on: July 14, 2015, 08:31:27 AM »
Wow... finally sat down to calculate SR% and it's higher than expected. I'm somewhere in the low 60s and it looks like 75% is in reach if I make just a few more adjustments.

Why did this always seem so hard?

Mrs. Crackin' the Whip

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Re: Halfway through 2015! How do your savings look?
« Reply #67 on: July 16, 2015, 10:50:23 AM »
I estimate that by the end of July, we will have increased our net worth by 43%.  This year we have focused on maxing out our retirement contributions, paying down our student loans, and selling our 2nd vehicle.  Big changes have taken place!

BBub

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Re: Halfway through 2015! How do your savings look?
« Reply #68 on: July 16, 2015, 01:20:40 PM »
74% Savings Rate.  Slightly ahead of pace for annual goals. 

(high income, so my 74% is not nearly as badass as many on this forum)


Ed Mills

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Re: Halfway through 2015! How do your savings look?
« Reply #69 on: July 18, 2015, 05:25:09 AM »
Greetings All!  We've managed to cram almost $50,000 in our various accounts thus far. 
We made the most progress on our 457 accounts where we've parked $34,500; we also saved $9,500 in our 403b plans.  I'm working on a post regarding our savings rate.

Hammer on everyone!
Ed

Jac123

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Re: Halfway through 2015! How do your savings look?
« Reply #70 on: July 18, 2015, 08:13:29 AM »
My goal was 60% savings rate this year.  Today if my caculations are correct,  between TSP, Roth IRA, and Taxable accounts, I have saved 71% of gross pay.  I have drastically reduced my expenses, so it made it much easier than I thought.  Love the feeling of no long term debt and having a stash.

chippy

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Re: Halfway through 2015! How do your savings look?
« Reply #71 on: July 20, 2015, 11:46:52 AM »
My goal is 30%. (Which I admit is pretty low, but graduate school makes it hard to save too much) Right now I'm at 32%. I've got 3+ cross-country trips planned, however I'm hoping to join these with academic conferences and just spend the difference. A 30K stipend only goes so far in a high COL area and I'm weak and I have expensive tastes. 

(I took a big hit in Apr; I had a 0% saving rate thanks to a perfect combination of my idiocy with taxes, insurance and other one-time expenses)

I can't wait till I graduate. If I only hit a 25% lifestyle creep (I know I will, my +1 and I want in-unit laundry and a darn dishwasher), I should easily get a 60-75% savings rate (plus get more than a roth IRA in terms of tax advantaged accounts). I'm jealous of you guys.

Abe

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Re: Halfway through 2015! How do your savings look?
« Reply #72 on: July 21, 2015, 01:18:09 AM »
On track to save 62% for the year even after taxes and 4 months unemployment for my wife. We live off my lower salary and save all her salary. We will definitely shoot way past max for our 401k accounts, so will put the rest into index funds with vanguard.

LifeDesigner

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Re: Halfway through 2015! How do your savings look?
« Reply #73 on: July 21, 2015, 05:37:54 AM »
Fantastic progress all of you! I've deposited $33,029.42 into my stock account so far this year! That's 62.7% of my income so far which is over my target at 60%. I'm moving into a cheaper house next month so i might hit +65% before the end of the year!

dude

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Re: Halfway through 2015! How do your savings look?
« Reply #74 on: July 21, 2015, 11:35:13 AM »
Hmm, haven't really looked at the numbers yet, but wife started maxing out her 401k about 4 months ago, so w/match, that's $1760/mo.  I'm maxed out, plus maxing catch-up contributions, so that's $2,584/mo.  $1100/month going into savings account.  So that's $5,444, not including student loan principal, mortgage equity, SS, or the deferred compensation paid by my employer (which is a fairly obscene amount, frankly).  As of my last calculation, monthly savings, including those aforementioned items, but not including deferred comp paid by employer, is $7,695.  It's significantly more if I include the deferred comp deposits. However, we've pulled some money out of savings for a few items recently (hot water heater, car repairs, vacation), so not sure what the net savings is to date.

Was told I was getting a promotion a couple months ago, but paperwork would take a couple months.  Thought the raise would be @$3,000.  Turns out, I underestimated.  It takes effect next pay period, and it's an $8,000 annual raise. Every penny of it, after taxes, is going to be funneled into savings.

Gotta pinch myself sometimes to make sure I'm not dreaming. We are very, very fortunate people.
« Last Edit: July 21, 2015, 11:47:08 AM by dude »

dude

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Re: Halfway through 2015! How do your savings look?
« Reply #75 on: July 21, 2015, 12:04:23 PM »
Was told I was getting a promotion a couple months ago, but paperwork would take a couple months.  Thought the raise would be @$3,000.  Turns out, I underestimated.  It takes effect next pay period, and it's an $8,000 annual raise. Every penny of it, after taxes, is going to be funneled into savings.

Congrats!  Gotta love surprises like that.

Gotta pinch myself sometimes to make sure I'm not dreaming. We've are very, very fortunate people.

+1

haha!  Yeah, it was a very nice surprise.  The part that excites me most is what it does to my pension.  It jacks the projected annuity up by a pretty significant amount (@$5200/year), especially as it relates to the effect on my 401k withdrawal rate in retirement.  Was looking at a 1.3% or so withdrawal rate to maintain current living expenses.  That number drops significantly, to 0.53%.  The effect of that cannot be overestimated.  All I have to do is maintain current lifestyle (i.e., no creep), and I should be golden.  In fact, I should be able to earn that money without much time or effort and thus not have to make ANY withdrawals from the 401k for about 7-8 years. That would be truly life-changing in terms of the financial picture (which was already pretty damn rosy).  Like I said, F-O-R-T-U-N-A-T-E . . .

Milehigh

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Re: Halfway through 2015! How do your savings look?
« Reply #76 on: July 21, 2015, 04:19:33 PM »
I do not track it on a month to month basis, but we are on target to save about 60-62% of net income.  Might be a bit higher or lower based on bonuses. 

riverffashion

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Re: Halfway through 2015! How do your savings look?
« Reply #77 on: July 21, 2015, 04:28:24 PM »
I hav a 50% savings rate, but can increase . starting to look closer at spendings again and cut back , primary on groceries.

Cherry Lane

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Re: Halfway through 2015! How do your savings look?
« Reply #78 on: July 21, 2015, 07:00:00 PM »
Thanks to the OP for inspiring me to compute this!  for the first 6 months of 2015 I have a 70% post-tax savings rate!  I'm usually just under 50% for the year, and am on track to at least meet, maybe exceed, this for this year.  As arebelspy points out, a 6-month rate can be deceiving, as mine is.  It includes some lumpy income in the form of a small annual bonus.  While I have paid for about half of my travel expenses for upcoming Big Trip in the fall (so that evens out between the two halves of the year), the second half of the year will include a giant expense in the form of a new roof.  If I keep my other spending about the same, though, I expect I'll still have about a 30+% savings rate for the second half, leaving me with 50% savings overall for the year.  While that is normal, I consider it especially good since I'll have absorbed Big Trip and Roof Replacement without impacting the SR.

In other mid-year news, early July brought my investable assets to 20x my projected FIRE spending for the first time.  Getting close!

Faraday

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Re: Halfway through 2015! How do your savings look?
« Reply #79 on: July 21, 2015, 07:55:59 PM »
DW and I are approaching 50% savings rate this year. 401k, HSA and Roth are all maxed out, been debt free for three years now. At this point we are limited by expenses like mortgage, taxes, insurance, groceries, car stuff and utilities. Restructuring our mortgage should get us past 50% - I'm targeting a 65% savings rate by mid 2016 and mortgage payoff before 2020.

Our goal is to achieve FIRE by 2020 but layoff drama at work could accelerate those plans. We'll see!

Lady Fordragon

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Re: Halfway through 2015! How do your savings look?
« Reply #80 on: July 22, 2015, 12:58:06 PM »
DW and I are approaching 50% savings rate this year. 401k, HSA and Roth are all maxed out, been debt free for three years now. At this point we are limited by expenses like mortgage, taxes, insurance, groceries, car stuff and utilities. Restructuring our mortgage should get us past 50% - I'm targeting a 65% savings rate by mid 2016 and mortgage payoff before 2020.

Our goal is to achieve FIRE by 2020 but layoff drama at work could accelerate those plans. We'll see!

Congrats on being debt free for three years now (excluding mortgage)!  DH and I are also looking to FIRE by 2020.  Best of luck!

sidestache

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Re: Halfway through 2015! How do your savings look?
« Reply #81 on: July 22, 2015, 01:30:29 PM »
2015 is my first year working toward FIRE, so I'm very excited to see some major improvements in my savings rate...about a year ago I discovered this great world of ER and my net savings rate was ~35% at that time, this year I'm on track to be ~65%!!!!!!!!!!!!!!!

June was my best month yet hitting 70% net saving (this is after maxing out 401k, HSA, and an IRA)!!!

Awesome work everyone!

Faraday

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Re: Halfway through 2015! How do your savings look?
« Reply #82 on: July 22, 2015, 07:55:31 PM »
Our goal is to achieve FIRE by 2020 but layoff drama at work could accelerate those plans. We'll see!

Congrats on being debt free for three years now (excluding mortgage)!  DH and I are also looking to FIRE by 2020.  Best of luck!

Thanks LF! I happened to notice your FIRE date which boosted my willingness to reveal I've got a 5 year plan. I'd be glad to check in with you and DH annually or every six months on this as time goes on. I'm always on the lookout for new ideas and new ways to focus cash flow!

Lady Fordragon

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Re: Halfway through 2015! How do your savings look?
« Reply #83 on: July 23, 2015, 07:39:16 AM »
Our goal is to achieve FIRE by 2020 but layoff drama at work could accelerate those plans. We'll see!

Congrats on being debt free for three years now (excluding mortgage)!  DH and I are also looking to FIRE by 2020.  Best of luck!

Thanks LF! I happened to notice your FIRE date which boosted my willingness to reveal I've got a 5 year plan. I'd be glad to check in with you and DH annually or every six months on this as time goes on. I'm always on the lookout for new ideas and new ways to focus cash flow!

mefla - Yeah, I'm a big fan of having both short and long term goals to shoot for!  We should definitely check in with each other as time goes on as a means of motivation in keeping with our 2020 FIRE goal.  :-)

Faraday

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Re: Halfway through 2015! How do your savings look?
« Reply #84 on: July 23, 2015, 01:36:40 PM »
mefla - Yeah, I'm a big fan of having both short and long term goals to shoot for!  We should definitely check in with each other as time goes on as a means of motivation in keeping with our 2020 FIRE goal.  :-)

So, wait: Is a "short term goal" like a milestone, maybe like hitting the round numbers of $100k, $200k, $300k, etc?

(And, do people start threads on their progress and update them when they hit milestones? I've been pondering that because I need something to "get me by" till I make it to whatever number is right for me....)

Lady Fordragon

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Re: Halfway through 2015! How do your savings look?
« Reply #85 on: July 23, 2015, 02:40:54 PM »
Good question.  For me, the short term goals are small milestones or challenges that I set my mind to over a shorter period of time.  These are usually year-long goals/challenges, but we've done month-long as well.    These short term goals are small stepping stones in the grander scheme of FIRE.  You could set yours to be milestones like hitting $100k, $200k, etc.  I'd say that you should make your short term goals whatever makes sense to you/motivates you.  Right now, my husband and I are trying to reach $60k in a separate taxable investment account (we're already maxing out our 401ks, IRAs, HSA, and ESPP).

I started a journal here as a way to document progress, share some financial discoveries, and keep me accountable to the goals that I set out for myself.

Heckler

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Re: Halfway through 2015! How do your savings look?
« Reply #86 on: July 23, 2015, 04:52:06 PM »
$24,500 put into RRSP and TFSA so far in 2015.  On track for $39k total 2015 savings.  30% of gross income for two.



$17,000 reduction in mortgage YTD & on track to burn those papers January 2016. 
« Last Edit: July 23, 2015, 05:22:35 PM by Heckler »

Faraday

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Re: Halfway through 2015! How do your savings look?
« Reply #87 on: July 23, 2015, 08:24:26 PM »
$24,500 put into RRSP and TFSA so far in 2015.  On track for $39k total 2015 savings.  30% of gross income for two.

$17,000 reduction in mortgage YTD & on track to burn those papers January 2016.

Remarkable! Freaking amazing comments in this thread...

ender

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Re: Halfway through 2015! How do your savings look?
« Reply #88 on: July 24, 2015, 06:59:57 AM »
$24,500 put into RRSP and TFSA so far in 2015.  On track for $39k total 2015 savings.  30% of gross income for two.

$17,000 reduction in mortgage YTD & on track to burn those papers January 2016.

Remarkable! Freaking amazing comments in this thread...

It's depressing sometimes to see how ridiculously large some people's savings rates are...

arebelspy

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Re: Halfway through 2015! How do your savings look?
« Reply #89 on: July 24, 2015, 07:14:18 AM »
$24,500 put into RRSP and TFSA so far in 2015.  On track for $39k total 2015 savings.  30% of gross income for two.

$17,000 reduction in mortgage YTD & on track to burn those papers January 2016.

Remarkable! Freaking amazing comments in this thread...

It's depressing sometimes to see how ridiculously large some people's savings rates are...

It's the most reliable way to a speedy FI.

A 20-30% savings rate takes you 28-37 years to FI.  That's way too long, for me.

75% takes about 7.  That's more reasonable.  Tough to do though, probably only about 20% of MMMers do it (and likely <1% of the general population).

90% takes less than 3.  That's completely badass.  But obviously quite rare--not sure anyone in this thread posted that high?

The only question then is how to increase yours (in general, not you in particular--you're over 50%, as posted earlier, which is quite badass) to as high as possible, to reduce the time to FI from multiple decades to under one.  It's not a depressing thing, it's a great thing that you have so much control and agency over that time to FI number.  :D
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Avidconsumer

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Re: Halfway through 2015! How do your savings look?
« Reply #90 on: July 24, 2015, 07:27:35 AM »
$24,500 put into RRSP and TFSA so far in 2015.  On track for $39k total 2015 savings.  30% of gross income for two.

$17,000 reduction in mortgage YTD & on track to burn those papers January 2016.

Remarkable! Freaking amazing comments in this thread...

It's depressing sometimes to see how ridiculously large some people's savings rates are...

It's not that impressive in most cases I suspect. It's a lot easier to save 70% when you're making 100k+ than 50k.
I don't actively track savings rate for this reason and my current expenditures now wont reflect my expenditures in retirement.

Heckler

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Re: Halfway through 2015! How do your savings look?
« Reply #91 on: July 24, 2015, 07:36:30 AM »
5% for the last twenty years has been a good surprising add up for us too.  There's definitely less cash available at the end of the month, but by contributing most of the RRSP straight off my paycheque, I get an immediate tax break instead a refund at the end of the year. 


Our biggest financial problem is our three (paid off) cars.  Insurance is due next quarter for two of them.   The one we want to sell (8 year old Jeep with 90,000 km) has transmission bearing problems that can't be repaired (CVT).  Need to replace the tranny or drive it to the ground.  Suggestions?

Heckler

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Re: Halfway through 2015! How do your savings look?
« Reply #92 on: July 24, 2015, 07:46:49 AM »
It's a lot easier to save 70% when you're making 100k+ than 50k.


True, but I also know plenty of people who make 100+ and have a new boat, new trucks, new motorbikes every second year.  I tend to buy and hold my toys.

forummm

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Re: Halfway through 2015! How do your savings look?
« Reply #93 on: July 24, 2015, 07:50:08 AM »
Last month was unusual due to an AC replacement and international trip. But for the past few years before that we've been steadily increasing our TTM savings rate and raw savings total. Last month was the first month we dipped below 50% during the time I've been tracking. We're on pace for a record savings rate this month though. And the year is still looking to be a record as well.

Candace

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Re: Halfway through 2015! How do your savings look?
« Reply #94 on: July 24, 2015, 08:08:09 AM »
$24,500 put into RRSP and TFSA so far in 2015.  On track for $39k total 2015 savings.  30% of gross income for two.

$17,000 reduction in mortgage YTD & on track to burn those papers January 2016.

Remarkable! Freaking amazing comments in this thread...

It's depressing sometimes to see how ridiculously large some people's savings rates are...

I don't know why it would be depressing to see others doing well. It only shows that it is possible. Even if we're not saving as much as some, the only questions are, will our savings rate get us where we're going, and are we making the right number and type of choices for us to make it happen. I am saving about 52% or so. I could save more if I did other things differently, but in general I've considered those changes and decided against them. There are choices I'm willing to work longer for.

If someone else is saving 70% or 90%, good on them. I might see if I can learn something from them. But if they're doing it by, e.g., eating lentils every day or line drying or having roommates not related to them, giving up their car, or gardening, or not having pets, or any one of a number of other things that could save me money, well, I've considered those things and decided I'd rather not do them. They are all fine choices for others. Just not for me. So my expenses are higher than if I made different choices. Oh well.

That being said, I'm pretty proud of my savings rate. I don't need to compare myself favorably to the very badass people on this forum to feel good about it. Also, at this point, market performance will determine when I'm FI much more than any choices I'm on the fence about.

Cougar

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Re: Halfway through 2015! How do your savings look?
« Reply #95 on: July 24, 2015, 12:11:42 PM »

mine popped on me without even knowing it.

i increased my savings this year, so my employer increased their match; which i had thought i had already maxed from them but turns out i didn't.

just shaved another month off, down to fire date on jan. 1 2017 now.




BTW, i also am now pencil stashe according to the new ratings. just crossed handlebar when they changed it 6 weeks ago; but back out of bristles a second time in 6 weeks.

forummm

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Re: Halfway through 2015! How do your savings look?
« Reply #96 on: July 24, 2015, 02:50:46 PM »
Depressing or inspirational? I sympathize with both viewpoints: it can be depressing if you've cut like crazy, but your savings rate still lags behind others.  For example, I love my babies, but holy crap do daycare/kid expenses screw up a savings rates!?!  If we put the kiddies up for adoption,  that would get us from 56% to 65%, but they've been behaving pretty well lately so I would feel bad about that.  We'll just have to roll with 56% for now :)

On the other hand, I'm so glad some folks have those crazy high savings rate because it gives us something to shoot for.  Somebody has to run the 4 minute mile. Somebody has to do the Fosbury (sp?) flop.  That's how we learn.

You can get a much better ROI on the kids if you sell them to the circus instead of putting them up for adoption.

Putting them to work is much better because you keep the ongoing income, which will increase as they get older, stronger, and can take on more complex tasks, instead of just a one-time payment.

GoodLuck

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Re: Halfway through 2015! How do your savings look?
« Reply #97 on: July 24, 2015, 05:27:12 PM »
Long time lurker (June 2013), but I felt the need to post to this thread because I'm very proud of the progress my wife (29) and I (28) have made since we began tracking everything in YNAB (August 2013).

August 2013 NW: $84k
December '13 NW: $97k
December '14 NW: $140k
June '15 NW: $176k

An unbelievable feeling to see the 'stache grow and our lives become so much happier with less stress. I'm blessed that my SO is "all-in" on this journey. With our 54% savings rate (with still room to improve!), we're hoping to be FI in ~10 years, with FIRE shortly after.

A big thanks to many of the long-time and frequent posters, for their great advice and also for being a source of motivation. You all are very inspiring!

Faraday

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Re: Halfway through 2015! How do your savings look?
« Reply #98 on: July 24, 2015, 06:14:12 PM »
...
just shaved another month off, down to fire date on jan. 1 2017 now.

Hi Cougar - how do you figure this down to the month? Is there a rule of thumb, or is it simply the value of what you expect to spend in a month when you are FIRE?

medinaj2160

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Re: Halfway through 2015! How do your savings look?
« Reply #99 on: July 26, 2015, 09:26:10 AM »
My net worth has increased 47k from January to today; a combination of 401k's and IRA's contributions and debt reduction.