How am I doing towards retirement?
- Age: 30
- Single, no kids (currently in a serious relationship)
- Gross income: $110,000 USD
- Current retirement savings: ~$100,000
- Annual retirement contribution: 18% of gross income to 401(k) (10% from me, 8% from my employer). I also max out my Roth IRA and HSA every year
I expect my income to increase by ~20% within the next 1–2 years, and then increase again over time, eventually topping out around $200,000 per year.
I graduated college a little later than some of my peers and started my career after age 27, so I know I may be behind those who began earning and investing in their early 20s. Even so, my goal is to retire by age 60 with enough saved to comfortably support my lifestyle and maintain financial independence.
Additional financial context:
- No home ownership currently
- Student loan debt: ~$18,000 at a low interest rate
- Car loan: ~$20,000 at 6.25% APR
- Minimal cash savings outside retirement accounts
Am I on track?