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Started By
Message
How much do you save per month?
Posted on 3/6/17 at 9:51 am
Posted on 3/6/17 at 9:51 am
Could just list a percentage of paycheck, or specific amount.
What do you feel is a happy medium between not saving at all or living too tight and not enjoying the fruits of your labor at all?
401K - 6% contribution
Other Investment accounts - 8% of monthly income
Money Market savings - 15% of monthly income
So around 30% of total income is saved in some way. Considering 20-30% goes to taxes, is living off roughly half your income too conservative?
What says the OT and what is that 'happy medium' in your opinion? Of course this may vary with age and available resources.
What do you feel is a happy medium between not saving at all or living too tight and not enjoying the fruits of your labor at all?
401K - 6% contribution
Other Investment accounts - 8% of monthly income
Money Market savings - 15% of monthly income
So around 30% of total income is saved in some way. Considering 20-30% goes to taxes, is living off roughly half your income too conservative?
What says the OT and what is that 'happy medium' in your opinion? Of course this may vary with age and available resources.
44
Posted on 3/6/17 at 9:51 am to BabyTac
Per the OT standard, more than you make in a lifetime. Peasant.
Posted on 3/6/17 at 9:52 am to BabyTac
At least 85% of my pretax income like dave Ramsey says
Posted on 3/6/17 at 9:55 am to BabyTac
I expect a lot of honesty in this thread.
Posted on 3/6/17 at 9:56 am to castorinho
does paying my mortgage count as a form of savings? 
Posted on 3/6/17 at 9:56 am to BabyTac
Approximately 55% of my net income goes to savings and 7% to my 401(k).
No kids to spend on
No kids to spend on
Posted on 3/6/17 at 9:57 am to BabyTac
I try to save 40%. but I don't have a wife and kids sucking me dry. I want to retire at 50.
This post was edited on 3/6/17 at 9:57 am
Posted on 3/6/17 at 9:57 am to BabyTac
All in? 22 to 27 percent of gross income goes to savings in some way - roughly half of that goes towards retirement. I'd like to get closer to 15 and 15, but baby steps.
Posted on 3/6/17 at 9:58 am to BabyTac
-1000
Posted on 3/6/17 at 9:58 am to BabyTac
I save about 50% of what I don't spend.
Posted on 3/6/17 at 9:59 am to Master of Sinanju
quote:
I save about 50% of what I don't spend
how much to you spend? 50% ?
so where does the other 25% go?
Posted on 3/6/17 at 9:59 am to Master of Sinanju
These percentages suck, let's see some hard numbers folks.
Posted on 3/6/17 at 10:00 am to Master of Sinanju
Enough. I enjoy life but also save for the long term. Balance is key.
Posted on 3/6/17 at 10:00 am to BabyTac
Save?
Posted on 3/6/17 at 10:01 am to Nado Jenkins83
quote:
how much to you spend? 50% ?
so where does the other 25% go?
Uncle Sam
Posted on 3/6/17 at 10:02 am to CaptainsWafer
quote:
Per the OT standard, more than you make in a lifetime. Peasant.
I dont need to save, I have a trust fund, peasant...
This post was edited on 3/6/17 at 10:03 am
Posted on 3/6/17 at 10:03 am to BabyTac
I don't save much outside of retirement accounts (and paying mortgage on a house that is gaining value rapidly). Don't make enough money yet.
Posted on 3/6/17 at 10:03 am to Chad504boy
quote:
does paying my mortgage count as a form of savings?
Only your principle, and even then only if you got a good deal on your house.
Posted on 3/6/17 at 10:04 am to NYCAuburn
Well how do you think NillaWafers trust fund will materialize?
Posted on 3/6/17 at 10:05 am to Chad504boy
quote:
does paying my mortgage count as a form of savings?
Yea the $300 that goes towards principle is equity baw
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