Author Topic: Savings Rate Milestone  (Read 2047 times)

Lochi21

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Savings Rate Milestone
« on: March 15, 2019, 06:29:48 AM »
My family (wife & son) and I hit an all-time monthly savings rate high of 74.6% this past month.  I'm calling it 75%!  This has always been a goal of ours since we started the MMM lifestyle many years ago - which has seen us pay of our mortgage early, fully fund our son's college education, invest over 600K for retirement and allow me to leave a high stress job - all before the age of 50.  It's truly amazing how the application of a few key MMM principles can completely transform your financial future.

Anyway, I wanted to share our savings rate badassity.  In a forum and with people who truly appreciate the discipline it takes to achieve such a milestone.

Good luck to you all on your own personal financial endeavors.

thesis

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Re: Savings Rate Milestone
« Reply #1 on: March 15, 2019, 01:04:54 PM »
Awesome! 70% and above is great, oddly common on the forums but still very rare and a huge milestone to celebrate :)

meandmyfamily

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Re: Savings Rate Milestone
« Reply #2 on: March 15, 2019, 02:33:36 PM »
Awesome!

Finances_With_Purpose

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    • Finances With Purpose: deploying resources wisely to live vigorously
Re: Savings Rate Milestone
« Reply #3 on: March 15, 2019, 06:32:47 PM »
Congrats! 

Retireatee1

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Re: Savings Rate Milestone
« Reply #4 on: April 06, 2019, 10:23:31 AM »
Are we talking 75% of gross income?  Very impressive either way.

cincystache

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Re: Savings Rate Milestone
« Reply #5 on: April 07, 2019, 11:40:26 AM »
That's fantastic, we've been cruising at about 46% of gross the past couple years, 75% is crushing it.

FIREstache

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Re: Savings Rate Milestone
« Reply #6 on: April 14, 2019, 01:56:10 PM »
I never track monthly savings rates because some of my highest bills such as property tax are only twice a year, so I try to calculate the average based on a calendar year.

On a yearly basis in recent years, I have had a savings rate of 70% to 85% of my take home pay each year, including my and my employer's contributions to my retirement plan.

CMC8310

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Re: Savings Rate Milestone
« Reply #7 on: April 29, 2019, 07:28:01 AM »

Great results......I struggled to get to above 70% without tipping the work / life / balance too far for my liking. When are you planning on hitting FIRE?