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re: Maxing Out Retirement Savings
Posted on 12/23/21 at 9:34 am to Big Ole Baw
Posted on 12/23/21 at 9:34 am to Big Ole Baw
quote:
If he's saving ~40% of his GROSS income with 2 kids on $100k then good on em, but u find the math almost impossible to reconcile
I have 4 kids. Over 30% of my income goes to retirement (it would be significantly higher percentage but my wife just went full time this spring).
The key is to lock in your spending. Our house payment is the same amount that my wife and i could afford fresh out of college as 2 waiters working full time. No car payments. No credit card obigations or student loans.
Pretty much every dollar that has been earned above our levels at 25 years of age is discretionary.
This post was edited on 12/23/21 at 9:36 am
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