How old are you and how much goes toward your retirement each month?

Wife works for a school, so has a state retirement plus maxes Roth. I max Roth plus 15% towards 401k (3% company match added to that) — late 20’s.

She’s maxed her Roth the past few years, me just the past 2. Had student loans to pay off.

quote:

---

I am 36 years old and would like to retire at age 62.

---

It’s much easier to work backwards. How much will you need in retirement? Everyone’s needs will be different based on lifestyle choices.

I don’t contribute enough right now. Will bump my 401k contribution 1-2% come February after annual raise.

quote:

---

Is that typical or too much?

---

First off, you are doing better than "typical" but no idea if that's "enough" without an idea of your income and spending (now and in retirement).

You're asking the wrong ?s if you want to know if you'll be prepared to retire. Typical isn't gonna cut it, typical for MT posters, maybe. Ask yourself how much you plan to spend in retirement (minus any other income sources), adjust for inflation, estimate your safe withdrawal rate, figure out how much investment you will need at that rate to meet your spending needs. Instead of doing all that, I just got aggressive early. I've been maxing a 401k and 2x Roth IRAs since late 20s. By 30s I was throwing any extra at mortgage (rates were higher then) and non-retirement brokerage. Now I can fully retire at 45! Don't limit yourself by aiming to just do enough.

I’m 57.

For 20 plus years, I’ve maxed all retirement vehicles.

Currently
403b 26000
457 26000
TRS. I think it’s 10000
SEP for side business 14000

So about 86000 per year.
It will be side business only at 61.

Im 44.

I put about $24k into 401k and 6k into wife's ira.
Im going to throw $2k into a sons roth ira this year.
Company matches over $10k on my 401k and an additional $6500 into my pension. My wife just got a 401k for the first time mid-year. So we will see how that effects her ira going forward.

The best advice i have for you at 36 is to freeze your spending. Every dollar more that you earn in the future should (could) bump up your retirement contributions.

32. Married, 2 young kids.

Last couple of years we’ve only been maxing HSA and Roth’s. I’ve been trying to pay off my business loan so haven’t been able to setup a solo 401k yet.

I’m in the process of setting one up now and am planning on putting around $20k in mine and $20k in my wife’s.

I’m 41 years old. Started at 22 putting 6% of my salary and getting matched at $1 for every $3 I put in.
Around 26 years old I upped it to 8% with the same match.
At 32 years old I upped it to 11% and the company increased their match to 50% up to 6%.
At 38 years old I began putting an additional 3% in my ira because I was maxing my 401k.
My wife has been putting in 6% for 13 years with a full company match.
I haven’t don’t as much as some here but I should be able to retire around 57-62 years old. We have been blessed and I am farther along than I thought I’d ever be at this point. Scary to think that some reports have the average 50-55 year old with less than 100k in retirement savings.

During the next decade I’m going to work on passive income with either farm land or rental property. So hopefully I can not touch much of my retirement savings when retired.

33. I invest about $10k/month. Portion of that goes into my solo 401(k). I think solo 401(k) you can max it out in the 60s

Early 30s. Between my wife and I we are at 5100 per month this year. Spent a ton of money this year . Last year we hit 6400 a month in retirement savings.

That’s exceptional, bud. At this rate you’ll be ready to retire at 55.