2023 Final Stats. What are yours?

[Hermes]

66% of income saved toward retirement

$100k saved total. This is the second-highest savings rate in 5 years (2020 COVID I saved a lot of money lol)

Notes:
In 2023 I got a big bonus for switching companies so that helped a lot, but I also had to unexpectedly buy a car.

2024 will be likely less, since I took a 10% pay cut for a much less stressful and much more stable job. (worth it)

What's your numbers?

 

[shanehus]

I’m not saving as much as you, but I’m trying my best. I save about 30% of my income.

 

[target2019]

In my last 5 years, I was saving over 50% of my salary.

Do you chart these numbers? It's awesome to watch the mountain get taller (most times).

 

[Surewhitey]

Salaries after tax ~$200k, spending ~$68k, so saving about 66%.

We're simple folk...

 

[DrRoy]

Never got higher than maybe 35%, but now I'm in spend mode. BTD baby!

 

[Tadpole]

Savings and investments up almost 10%. Cash-on-hand down 40% because of shift to savings for CD purchases. Taxes up, uh, up, sigh, up.

 

[Toast]

For the past few years our annual saving/investment rate has been a little over 50% of our gross. Our goal is to increase it to 60% this year.

 

[frayne]

Stock portfolio returned ~30% last year and fixed income, mostly CDs ~4.5%. I doubt if we see many more years like 2023 going forward. I'm in the spend down mode but financial assets keep growing, which is not all bad. Prior to retirement I was saving and investing ~25% of my salary.

 

[pjigar]

Last year we saved 63% of our net income after taxes. Last year expenses have been lowest in the last decade because we have paid off mortgage and moved to a rural place with lower property tax + utility costs. Hoping to do repeat performance this year. And we spent highest ever on travel expenses last year.

 

[shanehus]

Never got higher than maybe 35%, but now I'm in spend mode. BTD baby!

Finally, someone of my league

 

[livingalmostlarge]

saved about 65%

 

[1242Vintage]

Retired at age 56 in May of 2020 so not a “young dreamer”. I’d call us “Apprentice Retirees”. Still learning how to be retired!

Sadly underspent (AKA “banked”) 30% of pension income and stashed all earnings from two on-call and very part-time fun consulting gigs this year.

 

[audreyh1]

Congrats! Way to go!

 

[Car-Guy]

Preliminary tax return says my taxable income was ~225k in 2023.... Spent it all and then some.

 

[Rianne]

Saving during working years was different. Bonuses, money not spent went straight into index funds. So, with income - taxes - and spending, we saved over 30% of the net. All dividends and CG are reinvested still. Investments growing @ 7-8%. Maybe we spend 2-3% with SS, even with inflation. Taxes are lower in retirement and we have better control over that. It's just rearranging the puzzle pieces.

 

[Koolau]

Last couple of years, 50% give or take. Maxed 401(k) and Roths, etc. It wasn't as difficult as I had expected.

 

[pacergal]

During working years, DH and I saved 10-15%, and another 6% was taken for pension.
We were not high income workers, govt jobs with pretty good benefits, current pension being one of them.

 

[aaronc879]

I had $2600 in earned income and $10,391 in expenses so not a great year. On the plus side I had a lot of free time and my net worth was higher at the end of 2023 than at the start despite spending more than my earned income.

 

[upupandaway]

I'm happy with my SR growth over the years. I also love charts.

 

[Koolau]

I had $2600 in earned income and $10,391 in expenses so not a great year. On the plus side I had a lot of free time and my net worth was higher at the end of 2023 than at the start despite spending more than my earned income.

Those expenses must be pretty close to a record low for our group. $10,391 doesn't cover my HOA dues for a year. Hopefully, you're now in that magic season where your stash is making a lot more than you ever could by w*rking. I recall those days with fondness. I finally felt financially independent.