At what age did you start contributing 15% to retirement?

[guppy]

I'm currently 25 (almost 26) years old and contributing slightly over 10% of my gross income to retirement (through a combination of 403b pension, 401k, and Roth IRA). It's my goal to hit 15% within the next 2 years and then increase 1% each year until I hit 20%. Since you always hear 15% as being the min to put into retirement, I was just wondering at what age the rest of you hit that first 15% goal?

[creditcardfree]

I was 34 and DH was 37. Actually, it might have been a bit earlier, but I don't think so. It has always been 10% since DH was 21.

Compared to us you are doing great!

[kork13]

I was at that point when I was 20 years old, and have been doing it since.... But then, I was only making $800/mo at that time, so it was easier to get into the habit once someone advised me to start doing so.

[jpg7n16]

24 ie this year.

Single. No dependents. No debt. 2 roommates, low rent.

Degree in Finance. Good job.

[Slug]

I don't know that answer, but I was 35 before I could max my 401k and cover 2 Roth's.

[LivingAlmostLarge]

26. As soon as DH got a real job and 401k we maxed it out and Roth IRAs. before then we maxed out my Roth IRA but DH didn't have any retirement as a foreigner.

[ea1776]

wow, 15% is the MINIMUM for retirement? Whose high standards are those? Have you looked at the American savings rate lately? hehe. you are doing great with your savings. i would think you'd want to start building a taxable portfolio after the 15% retirement mark, but that's just a personal preference. i think it's nice to "spend a little along the way" to retirement.

[jpg7n16]

15% may not necessarily be a minimum, but if you do some analysis and figure out what your inflation adjusted retirement needs will be (assuming you plan to live a long time), 15% is a decent starting figure. If you use a retirement calculator, use 7 or 8% as a return on investment, and see how much you need with the time you have until 65.

Plan for low returns, hope for high!

[ktmarvels]

DH and I finally hit that mark last year (when we were 26) when we opened his TSP. Before that all we were doing was Roths and we were close. Although you are doing great at your age. I would say the average person in their 20s has no idea about retirement and isn't putting anything away. As some mentioned your 15% minimum may be high, I'd always heard you needed to save 10% for your basic needs, 15% to cover your wants and 20% for luxuries. Like you, DH and I are starting young so I try to save as much as possible. We'll probably work for a long time, but the thought of someday not needing to work is appealing.

[bjl584]

I don't know when I hit 15%. I started saving 10% of gross as soon as i graduated college when I was 22. I'm 32 now and I'm currently saving around 28% of gross.

[rizzmo]

30 I max my 410k, but due to some lame law I can only put around 13,500. This year my wife and I will start Roth IRA's, we have already set aside 7k to fund them.

[jIM_Ohio]

6% when I started working at age 23 or 24
It was 15% by age 29 or 30 I think

If you hit 15% by age 35 I think that is excellent progress.