What percentage of your income do you save?

[PhysicianOnFIRE]

PEMDoc wrote:

Are people counting employer match in the % of income saved in this poll, or only “earned” income?

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In my online savings calculator, employer match and profit sharing go into the numerator and denominator. You are earning and saving 100% of that money.

 

[conniebird]

PhysicianOnFIRE wrote:

PEMDoc wrote:

Are people counting employer match in the % of income saved in this poll, or only “earned” income?

Click to expand…

In my online savings calculator, employer match and profit sharing go into the numerator and denominator. You are earning and saving 100% of that money.

 

Click to expand...

Would be careful to only count it if the amount if vested though, otherwise it's gone when you leave the employer.

[wideopenspaces]

I count the 14 percent my employer puts in a retirement account for me because I also include it in my total salary. It's a benefit that I earn so I count it :-) We're right at about 30 percent gross income saved. Split between retirement and extra mortgage payments (although heavily favoring retirement). Student loans are paid off and 6 month emergency fund is completed already!

[YYjames]

Using PoF's calculator it's showing me 61% gross savings and 70% net

I am including wife's income as well.

[EH]

Thanks for the calculator - I've always wondered but been too lazy to calculate! I'm at 31% gross although realistically is higher as I have too much money in cash now (over saving for a major needed home repair), and I'm not quite sure how much cash I will save throughout the year. Will certainly go down if we have kids though.... :/ I live in a very HCOL area. I definitely included employer match - I expect to see all of that money eventually and I'm always surprised at how much of it has vested already.

 

[The White Coat Investor]

PEMDoc wrote:

Are people counting employer match in the % of income saved in this poll, or only “earned” income?

Click to expand...

Absolutely, that's part of your salary. Count it in both the numerator and denominator. Of course, I've never had an employer match, so a non-issue for me.

[WealthyDoc]

I haven't run my savings rate recently but it is pretty high - even for this group.  I have a 457, 401K, Roth, Sep-IRA and Roth 401k.  I don't want to turn down the match and the tax free growth.  My investment income more than covered my expenses last year so I end up reinvesting most of the dividends, interest, etc.  I suppose I could actually increase my savings rate to 100% and I would be fine.  Reaching FI is awesome and gives one great flexibility.  Keep up the great work guys and you will be there sooner than you realize.

[huruta]

Currently 60% net and 40% gross per POF calculator. Despite these rates, required nestegg still seems terrifyingly large. We started late though not having kids has made our financial lives easier.