Originally Posted by B-rock
People must be making pretty good money to be able to afford 19,500 to go into a 401K every year. Thats over 1/3 of my salary. Or im just poor. I feel im living cheap, my newest vehicle is 2008. everything but the house is payed for.
Marry a suga-momma! Kidding, but having two incomes in a single house, MFJ, does help with saving. We definitely keep the frivolous purchase down as much as possible in order get money into retirement and savings as early as possible in our careers. No payments (except house which is almost 50% paid off on a 3.3% loan). We still have toys, they are just from the 70's and were either free or very cheap.
While I was in grad school and she was in pharmacist school we lived on my grad school stipend, did odd jobs for hustle money, and her scholarships. Our goal has been to live similarly to that since we got big kid jobs and save the rest. If it weren't for the kids, house, and some fun projects and trips now and then we'd still be on track to retire by 45 (457b allows for penalty free early withdrawl, plus other investments). That idea has vanished.
With my luck I'll keel over at 58 and never get to enjoy a dime of it.