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re: How much did you save in your early twenties?
Posted on 6/24/15 at 1:18 pm to SouthOfSouth
Posted on 6/24/15 at 1:18 pm to SouthOfSouth
I am a crazy saver (at least 40% of net income for the last 15 years), but I didn't save a dime until I was out of grad school - 25 or so.
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Posted on 6/24/15 at 1:18 pm to SouthOfSouth
After about two years out of college, I had 50k saved. I would say 1/2 was 401k/ROTH IRA money and the other half was savings/checkings.
My saving numbers have gone up each year (now 4 years out of college). My salary has more than doubled since graduating undergrad, I live in a nicer place, drive a nicer car, and, overall, spend however I choose without a ton of worry....but I still save at least 25k+ annually (all investments + cash).
I monitor my net worth closely and have a good handle on what my numbers should look like at the end of each month. Mint makes this quite easy.
Mix of hard work and some luck - I know that I am an exception to the rule for the amount I saved right out of college.
**I had no student loans.
My saving numbers have gone up each year (now 4 years out of college). My salary has more than doubled since graduating undergrad, I live in a nicer place, drive a nicer car, and, overall, spend however I choose without a ton of worry....but I still save at least 25k+ annually (all investments + cash).
I monitor my net worth closely and have a good handle on what my numbers should look like at the end of each month. Mint makes this quite easy.
Mix of hard work and some luck - I know that I am an exception to the rule for the amount I saved right out of college.
**I had no student loans.
Posted on 6/24/15 at 1:21 pm to lynxcat
You need to hook me up with a job. Corporate accounting is horrible.
Posted on 6/24/15 at 2:12 pm to sonicsam
My first year out of grad school I saved a little over $10,000 in cash, not including 401k.
I make almost twice as much now and save about the same amount in cash. I always thought people were just being jerks when they said that you can't earn your way into prosperity, but I'm a living example.
I make almost twice as much now and save about the same amount in cash. I always thought people were just being jerks when they said that you can't earn your way into prosperity, but I'm a living example.
Posted on 6/24/15 at 2:21 pm to TheHiddenFlask
Say baw. That crawfish cash ain't shabby
Posted on 6/24/15 at 2:55 pm to sonicsam
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Posted on 6/24/15 at 3:29 pm to STLhog
quote:how so?
I'm living on the dirt cheap here in STL though so its been pretty easy.
Posted on 6/24/15 at 3:53 pm to sonicsam
don't worry what others do and calculate what is right for yourself.
Posted on 6/24/15 at 3:57 pm to sonicsam
For those of you who didn't save much in your twenties, do you regret it?
Posted on 6/24/15 at 4:09 pm to GoldenD
I regret nothing...had a blast
Posted on 6/24/15 at 4:18 pm to sonicsam
Saved about 1k per month between ages 22-23, and about 2k a month when I was 24-25. A lot of that went toward grad school tuition, and the remainder went toward engagement ring/honeymoon/home furnishings/wife's professional school.
This post was edited on 6/24/15 at 4:20 pm
Posted on 6/24/15 at 4:44 pm to bayoubengals88
quote:
how so?
Well for one STL is stupid cheap.
I have a 1500 ft^2 place in a cool arse neighborhood, totally remod in October. It's $1100/month.
My gf was living here and paying 1/3 but she had to move for a job, just got a new roomie and now I'm only paying $550. Basically college rent in a pretty sweet place.
Plus I'm pretty gnarly about groceries, taking food to work and cooking dinner so it works out a lot cheaper than buying meals during the week.
I do spend a shite ton on the weekends though which I need to work on. But drinking here is cheap like college too so that helps.
Posted on 6/24/15 at 4:45 pm to Epic Cajun
quote:
emainder went toward engagement ring/honeymoon/home furnishings/wife's professional school.
that is where all of mine is about to go.
FML.
Posted on 6/24/15 at 4:45 pm to GoldenD
quote:
For those of you who didn't save much in your twenties, do you regret it?
Nope absolutely not.
I'm in my prime. I've got the rest of my miserable old life to save money and not have fun.
Posted on 6/24/15 at 6:58 pm to sonicsam
I am 28 now and have $20k in my IRAs and have about $15k in debts - all at 0% APR aside from student loans. Own two houses and own car now.
At 25, I had nothing. So, I would say you are way ahead of the curve.
At 25, I had nothing. So, I would say you are way ahead of the curve.
This post was edited on 6/24/15 at 10:44 pm
Posted on 6/24/15 at 8:27 pm to rpg37
quote:
I would say you are way ahead of the curb.
Could. Not. Resist. Lol.
Posted on 6/25/15 at 5:29 am to lynxcat
Everything Lynx said (and THF). I graduated with no savings, but no debt either, and have been able to save between 25-35k each year. Most of that has come from 401k and Roth contributions, so my main focus now is to start raising more cash to purchase a home in the next few years. If I can continue to max the 401k and Roth each year, I'll be in a great spot by the time I turn 30 (26 currently).
Posted on 6/25/15 at 9:05 am to jimbeam
Baw, everybaw knows that crawfish one is a break even kinda business. I've never made any money at it........
Posted on 6/25/15 at 9:41 am to Chris Farley
quote:
Everything Lynx said (and THF). I graduated with no savings, but no debt either, and have been able to save between 25-35k each year. Most of that has come from 401k and Roth contributions, so my main focus now is to start raising more cash to purchase a home in the next few years. If I can continue to max the 401k and Roth each year, I'll be in a great spot by the time I turn 30 (26 currently).
quote:
Chris Farley
I'm coming up your direction for the Syracuse game. Looking forward to hanging.
Posted on 6/25/15 at 9:54 am to Chris Farley
quote:
have been able to save between 25-35k each year.
If you are single, own your own car, without debt and either live in a modest APT/or find roommate, you won't have to be a pauper to be in this ballpark assuming 401k match is included.
As in, everyone would assume you lived an average lifestyle of a 20something YO because you wouldn't really have to cut back all that much.
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