- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How much should a person have in their savings by 25?
Posted on 5/18/15 at 9:07 pm to J Murdah
Posted on 5/18/15 at 9:07 pm to J Murdah
Like many others have said it's not all about how much you have saved, but how much debt you have amassed.
Compound interest works in both ways but always favors the lender over the saver.
If possible, spend at a rate that you can pay off your credit debt in full each month.
If you are single, save as much as possible pre-tax and at least what your employer matches in a 401k or 403b, etc.
After all that, still try to save enough to steadily build up about 6 months income in emergency reserve.
Compound interest works in both ways but always favors the lender over the saver.
If possible, spend at a rate that you can pay off your credit debt in full each month.
If you are single, save as much as possible pre-tax and at least what your employer matches in a 401k or 403b, etc.
After all that, still try to save enough to steadily build up about 6 months income in emergency reserve.
0
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News