re: How much do you save per month?

Wife that doesn't work. Three small kids. Very little savings

My wife's entire income. My dad always told me son when you get a wife make sure you can make it on one income. One day she is going to have your kids and want to stay at home. Sho nuff he was right. Had our first child and ever since she been talking about being a stay at home mom. My last name ain't Rockefeller so that ain't happening. She only works 3 days a week and still complaining.

Isn't there a board for this?

A shite ton, but I'm 32, debt free, make 6 figahs, and pay 200-300 dollars a rent a month living with 4 roommates in Boulder. One day I'll sell my soul for a home in Boulder though

I just started maxing out my Roth beginning this year. So, I put $458 into my Roth, $300 into my T-IRA, and I get my normal retirement pulled out into PERS being a teacher (I think 9% of the income there). Altogether, that's about $1,100/month for now. I also contribute an extra $250/month on my primary residence to hurry up and beat PMI payments.

I spend every dollar I make, like that Oil Field guy from Houston.

F it, Yahoo!! You can't take it with you

Every year the percent goes down because my income is growing faster than I can invest it.

10% with 25% match into my 401k. Company will match up to 15% but can't swing it right now.


6% with no match for Wife's 401k (used to be a 50% match)

$400 month cash savings

$100 month 529 plan.

There is no cut and dry requirement IMO. That all depends on a variety of factors, and it comes down to personal situations/lifestyle preference. Someone single saving 35% of their income is in a much different situation that someone with 4 kids, or someone going through hardship like cancer/health complications. Some guys want to hurry up and retire, others would be completely bored if they retired before 65. Some people love their careers and others hate it and hate working in general.

What counts as saving? Does this include education accounts for your kids, principal on a mortgage, HSA accounts? 401K matching contributions?

Just because someone is in a situation enabling them to save 40% does not put you in the loser/foolish category, meanwhile saving 5% while single with no kids is not a wise choice either.

Situations are complex with different people. You have to find the happy balance which makes you comfortable.

And don't compare yourself to your neighbors/co workers. They could be in a situation where they have a nice inheritance and can afford to buy that nice boat or timeshare, or in a situation where they have no safety net at all if they lose their job and are penny pinchers in case that happens.

Everyone financial situation is different.