mrnewengland
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Posts: 100
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Post by mrnewengland on Oct 26, 2014 12:59:23 GMT -5
I am 36 and single. I have about $200K in various retirement accounts and only a few thousand liquid. I need to up that because I have a mortgage on a house and I own a condo I'm renting out.
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sarcasticgirl
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Location: Chicago
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Post by sarcasticgirl on Oct 26, 2014 15:56:23 GMT -5
Hi everyone. Sometimes I get discouraged reading the amounts people have saved. It seems like a lot on here have a lot more saved than I do. But I know a lot of you are also married, and I am single. Any of you that are single, do you remember how much you had saved at 36 years of age? i actually saved more as a single. my husband is freaking expensive.
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gooddecisions
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Post by gooddecisions on Oct 26, 2014 16:37:43 GMT -5
It sounds like you're doing great to me. I am 35 and not single but was before about 3 years ago. When I was single- I had roommates and kept my belt as tight as possible (well, not too tight, I had a lot of fun and spent way too much money going out and looking good!). I have about $260K in retirement and another 100K in brokerage. It would be higher if I had managed to land a better than 23K/year job out of college, but my pathetic salary at least taught me how to live well on a shoe-string budget.
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lynnerself
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Post by lynnerself on Oct 26, 2014 16:54:40 GMT -5
At 35 I was married, but working part time with 2 kids in day care. Savings was maybe $40,000 (for both of us) in retirement and savings. I was only contributing about 5% to 401K.
Everyone says to save for retirement when you are young to allow for the compounding of time.
However in my situation (and my parents and my inlaws) the real high dollar contributions came later in life. After the kids are out of day care, as salary rises, after the house payment is less in relation to income, and esp after the kids are out of the house and college. About 75%of my retirement money ($400,000 in my own 401k and IRA accounts) was saved after age 50. (I am 60)
So my advise is to be patient. Increase the amounts to retirement over time as money is freed up.
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cronewitch
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Post by cronewitch on Oct 26, 2014 19:38:30 GMT -5
I had $2,000 in my first IRA at 36, I was starting to save 2K a year and got divorced right before my birthday. I saved 2K a year for the next 10 years or so since it was the limit and I didn't have a 401K. Then I got a 401K a couple of jobs but no match and 15% limit. When the ROTH IRA come out I had 67K saved but that was about 15 years after I was 36. In 2003 I got a 401K that wasn't limited to 15% but let me save 14K that year I was able to save about 445K in the next 10 years plus 6K a year or so in my ROTH so this year I got to a million with my inheritance and all savings.
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Oct 26, 2014 23:31:14 GMT -5
I'm 34, married, two of my own children, two step children, $5K in EF, about $8K in a 403b, and $45K that I can't touch in a state pension.
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muttleynfelix
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Post by muttleynfelix on Oct 27, 2014 11:51:27 GMT -5
I'm 32, (for another month ![](http://images.proboards.com/new/wink.png) ), married with 2 small kids. DH is a SAHD, he's had medical problems the last couple 7/8 years. $40k in just out of pocket medical expenses later .... anyway, combined we have just over $100k saved in retirement accounts. Like MPL said, it also depends on income. My salary is about $65k a year. I don't know if I would be better off or worse off without DH. I probably would have gone to grad school after working for a year if I had not met him which would not have too big of an effect on my income. I think you can always argue the other side if you are married or single that you would be better off. Obviously 2 incomes go farther than one, but if you have young kids, medical problems, a SAHP, a money suck, etc, there might not be that other income. It threw me for a loop looking at my BFF's new house. I was like HOLY SHIT. Yeah, she makes more than me, but not that much. But oh yeah, her husband makes about as much as me. So they have double what we have coming in for income.... and now they have the mortgage to prove it. ![](http://images.proboards.com/new/tongue.png)
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Angel!
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Post by Angel! on Oct 27, 2014 11:58:19 GMT -5
It sounds like you're doing great to me. ![](http://syonidv.hodginsmedia.com/vsmileys/yeahthat.gif)
I would think kids vs no kids would have a greater impact on savings that single vs. married. But, maybe I just think that because all my money goes to daycare.
I'm 34, recently single (3 kids) & have $45k saved.
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cael
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Post by cael on Oct 27, 2014 12:03:07 GMT -5
We're both 31... including a small IRA and what I've contributed to my pension, I probably have just under $40k. DH has a 401k from his old job with maybe $22k in it, which we plan to start contributing to again soon/when he has a FT job.... we're obviously not great, but I think we're doing ok.
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chen35
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Post by chen35 on Oct 27, 2014 12:17:43 GMT -5
I am 34 and married. I got married at 29. I feel like we are doing okay, we're on track to reach our goals, but I would definitely have more saved if I was single. My expenses as a married person with step-children are WAY higher than when I single.
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sapphire12
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Post by sapphire12 on Oct 27, 2014 13:29:20 GMT -5
When I was 36, I had a little over 2x my salary in the TSP. A little more in my Roth.
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Pants
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Post by Pants on Oct 27, 2014 13:42:07 GMT -5
I also think we are really behind - probably only have 80k saved in retirement accounts right now (34 and 32 yo), which is only 50% of our combined salaries. Then I remember that our salaries have more than tripled in 5 years (have gone up 40% this year alone), we had a baby and have another one on the way, and bought a house and are adjusting to that expense. We should save more than we do but we continue to save, increase our contributions with each raise and will catch up over time.
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Firebird
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Post by Firebird on Oct 27, 2014 15:00:47 GMT -5
Hi everyone. Sometimes I get discouraged reading the amounts people have saved. It seems like a lot on here have a lot more saved than I do. But I know a lot of you are also married, and I am single. Any of you that are single, do you remember how much you had saved at 36 years of age? Sometimes being married causes the savings rate to go down, not up ![](http://images.proboards.com/new/smiley.png) Ask me how I know...
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Firebird
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Post by Firebird on Oct 27, 2014 15:24:29 GMT -5
Overall DH and I have done well together. But we're five years in and despite two really good salaries for 95% of that time, I spent the first four of those years just trying to get us on track - and by that I mean things like saving more than $200/month, not getting into (even more) CC debt. I wish I was kidding.
Our saving grace is that we've almost always contributed to retirement. So those accounts are doing pretty well right now. But liquid savings? Pfft. That's been the bane of my existence until very, very recently.
It really makes me sick to think about how much money we wasted in the beginning of our relationship. Sure, we had fun but good habits in the beginning could have seen us in a much more secure place much earlier on (and we probably could have still had a lot of fun).
We also blew some big windfalls. My parents gave us $10k for our wedding, I got several really large bonuses through work... we weren't really able to capitalize on any of them.
It's only now (with two really enormous windfalls that we WERE finally able to use for the Greater Good, combined with reduced expenses and salary increases) that we're in a position to actually move forward in an area besides retirement. And while I'm not sorry we had Babybird earlier than we originally planned, FINANCIALLY SPEAKING this would have been a nice point to get to before trying for kids.
When I was single, I saved like 60% of my gross income without breaking a sweat. Fewer obligations, fewer priorities to rank, and nobody to answer to but myself.
Point being - sometimes it's easier to steer your own financial ship. I wouldn't give DH up for anything but it has taken us an awfully long time to get our financial house in order and we probably blew in excess of $100k along the way.
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Baby Fawkes
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Post by Baby Fawkes on Oct 27, 2014 15:30:26 GMT -5
It sounds like you're doing great to me. ![](http://syonidv.hodginsmedia.com/vsmileys/yeahthat.gif)
I would think kids vs no kids would have a greater impact on savings that single vs. married. But, maybe I just think that because all my money goes to daycare.
I'm 34, recently single (3 kids) & have $45k saved.
Yeah, I suspect this is likely a bigger delta than the married vs single divide. We're 33 and 32 and have been married for 3 years now, but have been living together for 9 years. Being married on a dual income (despite a very small ratio of the dual pot coming from her) helped to save a bit more. For the last 2 years DW has been a SAHP and I still feel like I save more in the married lifestyle than when I was single. There are definitely some things that being married (or long term relationship). We tend to socialize just as much as when we were single but I find that the type of socializing is cheaper (go and hang out for dinner or drinks at the local bar rather than a big night out on the town with the lads / girls every week). We're a bit ahead of you in terms of $ amounts, but it's possible that our household income is higher. Kids may be on the horizon in the next year or two and I'm completely expecting that to be the point that the savings rate gets clobbered if it is going to happen
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shanendoah
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Post by shanendoah on Oct 27, 2014 17:07:20 GMT -5
I am not quite 30 40. Married. Number of kids is currently variable. One that's legally mine.
I have just over 100k in retirement accounts. It's a little less than 1.2x my salary. C has some money in retirement accounts (though I don't have that info with me). It is InfintyX his salary, since he's now a SAHP.
edited: I have no idea how missed my major age typo. I think maybe I meant to say 39, but the 0 and the 9 are nowhere near each other. I have no problems with being how old I am, either, so it's not like it was wishful thinking.
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1Day@aTime
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Post by 1Day@aTime on Oct 28, 2014 15:37:32 GMT -5
Turned 37 and got married this year. So at 36 and single I had about 180k to 190k between retirement accounts. Also had about 10k liquid but I just HAD to go to Alaska ![](http://images.proboards.com/new/grin.png) so I need to build that back up a bit.
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Deleted
Joined: Jun 29, 2024 0:25:36 GMT -5
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Post by Deleted on Oct 28, 2014 15:52:55 GMT -5
I am 33 and DW is 34, we have 2 kids, 12 and 10. DW has been a SAHM for almost all of our 12 years married. We have about $215k in retirement accounts, $68k in cash/savings, $90k equity in home and 2 paid off cars. Total NW is just over 3x my annual gross. We have always been savers and investors even when we made $12k combined our first year married as college kids, although definitely a little more meat on the bone nowadays!
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Firebird
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Post by Firebird on Oct 28, 2014 15:57:44 GMT -5
I am 33 and DW is 34, we have 2 kids, 12 and 10. DW has been a SAHM for almost all of our 12 years married. We have about $215k in retirement accounts, $68k in cash/savings, $90k equity in home and 2 paid off cars. Total NW is just over 3x my annual gross. We have always been savers and investors even when we made $12k combined our first year married as college kids, although definitely a little more meat on the bone nowadays! I'm experiencing jealousy...
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Angel!
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Post by Angel! on Oct 28, 2014 16:12:30 GMT -5
I am 33 and DW is 34, we have 2 kids, 12 and 10. DW has been a SAHM for almost all of our 12 years married. We have about $215k in retirement accounts, $68k in cash/savings, $90k equity in home and 2 paid off cars. Total NW is just over 3x my annual gross. We have always been savers and investors even when we made $12k combined our first year married as college kids, although definitely a little more meat on the bone nowadays! I'm experiencing jealousy...
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Firebird
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Post by Firebird on Oct 28, 2014 16:31:48 GMT -5
edited: I have no idea how missed my major age typo. I think maybe I meant to say 39, but the 0 and the 9 are nowhere near each other. I have no problems with being how old I am, either, so it's not like it was wishful thinking.
I thought about telling you but I thought maybe it was just me somehow.
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muttleynfelix
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Post by muttleynfelix on Oct 28, 2014 16:41:00 GMT -5
I am 33 and DW is 34, we have 2 kids, 12 and 10. DW has been a SAHM for almost all of our 12 years married. We have about $215k in retirement accounts, $68k in cash/savings, $90k equity in home and 2 paid off cars. Total NW is just over 3x my annual gross. We have always been savers and investors even when we made $12k combined our first year married as college kids, although definitely a little more meat on the bone nowadays! Congrats!
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Deleted
Joined: Jun 29, 2024 0:25:36 GMT -5
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Post by Deleted on Oct 28, 2014 16:59:36 GMT -5
I am 33 and DW is 34, we have 2 kids, 12 and 10. DW has been a SAHM for almost all of our 12 years married. We have about $215k in retirement accounts, $68k in cash/savings, $90k equity in home and 2 paid off cars. Total NW is just over 3x my annual gross. We have always been savers and investors even when we made $12k combined our first year married as college kids, although definitely a little more meat on the bone nowadays! Congrats! Thanks! It has been a journey starting from very little to get to the point we are at today, and thankful to have this site to read through over the years to keep me on track.
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