Where you should be for retirement (graph!)

[Deleted]

www.businessinsider.com/retirement-savings-guide-2014-3?utm_content=bufferd9332&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

Welp. I'm a bit discouraged by this. I'm about $80K behind, so I'd best ramp something up somewhere.

[AJL]

Um...nope. Not even close.

[jln]

Well that's depressing.

[Velar Fricative]

I was prepared to just cry but...I'm actually not *that* far behind where I should be in terms of my 403(b) contributions (I've never worked somewhere that offered a company match). I'm also counting on a decent state pension upon retirement so keep your shit together until I retire, New York.

[anonymous]

I'm much closer if I use the smaller number since I'm sort of right in between two numbers

[Deleted]

I am shocked i am on par

[Michelle]

Ostrich. Party of 1.

[saz]

Dec 5, 2014 22:55:06 GMT -5 @mrschicken said:

I am shocked i am on par

Same here!

[AAM2012]

I'm 2.5x ahead (not an AW I swear!)...that doesn't seem right! I still feel like I'm not doing enough!

[penguingrrl]

Good thing our plan is to just not retire...

[wysiwyg]

Looks like I'm working until I'm 90. Exactly zero in retirement. Though, going by the graph I'm not old enough to have retirement savings?

I really should get on that.

[twotrue]

Well that's depressing.

Sent from my SM-G900V using proboards

[greeneggs]

La la la la la, I can't hear you.

[badgergrl]

This is a tough chart for us because our HHI has more than doubled in the past 5 years. So we would have been on track before, but are not because of the big income change. We are working on it.

[EllieArroway]

I am not there yet, but I also contribute about 2.5 times what they are using as the "assumed annual contribution amount" so I'm not too worried.

[Deleted]

I'm right on track and probably won't have another dramatic salary increase any time soon, so I should be good.

[bugandbibs]

Huh, I'm not doing to bad. I'm on track with my current part time salary and not too far off my regular salary. Apparently having a low HHI works for me here.

[Deleted]

I'm a little behind, but not nearly as behind as I expected to be.

[Aquatica]

No where close. I'll just stick to my plan of living in the woods like a hermit.

[Kattey]

DH has a little more then recommended, but it's the lowest salary anyway, so there's that. I have a big fat zero. Hopefully that will change if I can find work.

[bina]

Zero in retirement savings over here. We plan to start but i doubt we'll ever catch up.

[pescalita]

Yeah, we're behind quite a bit, but our income has increased dramatically over the last ~5 yrs and we contribute double the assumed amount, so I'm going to call it good.

[origami]

[Deleted]

I'm on target but DH is pretty far behind so I'm not feeling too comfortable about it. Plus fyi, plenty of people make about 20-30k in my area (heck, I don't yet make 50k to be frank) so I'm kind of irritated that they set the lower benchmark at 50.

[LoveTrains]

the most important factor to look at is the percent times your salary. So at 30, you should have 1x your salary saved, at 35 1.5x your salary, regardless of what your salary is today. I would disregard any thing that tells you to have less than 1x your salary saved by the age of 30. 

I was hitting the benchmark no problem for 30, but now I'm 34 and somehow I think I might be a little behind again. Time to crunch the numbers. A good suggestion is to take your yearly raise and put that into your 401(k).

[LoveTrains]

Also, I disagree with the assumption that your portfolio will return 5% once you have retired. Only if you retire at the right time.

[christy082]

So for the last 2 years I've worked part time. Do I base it off of my part time salary or should I use what would be my full time salary? The majority of the years I've been saving, I worked FT.

[tacosforlife]

I'm not even looking at the graph since I know we're that far behind.

::cries::

[Deleted]

According to this chart I'm $10k ahead. According to the recommendation to have 1x your salary by 30 I'm $20k behind. I don't know what to feel!

[cookiemdough]

The assumption that 5% contribution will get where you need to be seems strange given the jumps in the chart by age and salary range.