What is your savings rate?


#1

So, what’s your savings rate? My wife and I typically save between 65 and 70% of our combined salaries.

You?


#2

Between 45 and 55% per year gross, depending on the year and what we’re up to.


#3

Anything around 50% is real, real good. Awesome job.


#4

Wow 65-70% and 45-55% are both really good! We are currently looking at 30-35% this year, but try to get it higher every year.

I’m curious though if country of residence might impact the possible savings rate.


#5

23%, but it’ll be 53% when we’re done with the mortgage (November 2020!). I wish it could be more but realistically the expenses can’t really be cut down further and I’m not willing to hustle more while I have small kids, so it’ll do for now!


#6

Ours is currently clocked at 17%

Slowly but surely cranking it up. Hope to have it at 25% in the next 2 years


#7

We save around 28% of our total salary right now - been bumping it up every year for the last 3.5 years after starting out around 5%

Once my SLs are gone our rate will jump significantly.


#8

We’re a single-income family of five and are at about 40% of pre-tax income if you count the money that goes toward mortgage principal from normal payments and prepayments (which we do :slight_smile:). Once we’re done remodeling our house, we should be able to put those funds towards savings and get up to 45% or higher.


#9

I like your approach on debt payments. As a CPA, we’re taught interest portions of debt payments are counted as expenses as opposed to anything that might be construed as a savings rate. So, I like to be consistent with that and happy to see others are too!


#10

We’re currently tracking to be ~40% for 2016, which is a huge improvement from 23% in 2015 and living paycheck to paycheck when my fiancee and I started dating in late 2013.

My goal for 2017 is to boost it even higher, possibly as high 60%+. Might be a bit ambitious, but we like to set our aim high.


#11

As a pensioner, on a workplace pension, and my husband who has both a workplace pension and a part-time salary, we manage about 60% between us.As pensioners, our needs are fewer than those with young children. We’re not frugal, but lead a simple life and still travel extensively. Our net worth is up 10% this year (which works out at about 115% of our combined post-tax income).
Wish I had started this years ago…


#12

Average about 64% of take-home, including principal repayments on debt. That should start to increase as I got a raise this month!


#13

This is one of those topics where I used to share openly, but I’ve come to have mixed feelings. Our rate is really high, and I realized that when I posted it on quarterly update posts, some folks would come away thinking, “Oh, my XX% rate isn’t so great after all.” And that made me reconsider all of it. We fully know that our high savings rate is entirely enabled by excessive incomes, not by any amazing frugality on our part, so it feels weird to flaunt it. :-/ But I DO love encouraging each other to keep striving to do better! :slight_smile:


#14

Awesome numbers, guys and gals! These kinds of numbers are what separate early retirees apart. Savings is key!


#15

Single income family of 4 and we’ve primarily been focused on eradicating debt.

10% last year and 13% so far this year. I plan to make a lump sum contribution at year-end which should bring me up to 15%.

I’ve also managed an 18% debt reduction and eliminated everything but the mortgage. Net Worth is up 54% YTD. Next year will be even better!


#16

Impressive! That is a huge Net Worth jump!


#17

When you’re moving both needles it really gets going!


#18

Well, since you asked…RSF made me famous for this one…75%


#19

We’re a one income family and our savings rate is right around 40%. We’ve been hovering around this percentage for the past two years or so.


#20

50% of gross, and 77% of net. If only someone made a calculator for that. :chart_with_upwards_trend: