Madison MoneySports - Personal Finance Thread

[Kaan]

The math is a little fuzzy because it includes pre-tax along with post-tax contributions, but something like 30% of income is going into retirement savings the past 2 years.

I know a lot of folks are doing okay for retirement in this thread... but when i was supervising folks (especially younger folks, but i had some +50 year olds with the same attitude) it was hard to get them to put in anything into retirement, let alone anything over what the employer would match. i'm at 15.9% pretax (fed life, my salary is public knowledge) to max out my employer contribution and about 16.6% post tax (max roth IRA plus some side long term stock buys, etc)... their jaws would drop thinking about putting that much money away. 5% of their income was "a struggle". 

 
We (the people) dont get long term tax breaks (if we ever get them), I haven seen a year without inflation in my life, no one should bet on social security (most of us have years to go with lots of people doing weird stuff with it), and over all expenses could go up due to medical expenses (old age sucks)... so you need to pack it away. hell Sylvia is trying to put 50% (fuzzy math) of her pay away for retirement so she can retire with me (7 years my younger). I guess that 20% difference is my race budget