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re: How much do you save per month?

Posted on 3/6/17 at 10:58 am to
Posted by BobCoot
United States of America
Member since Nov 2016
434 posts
Posted on 3/6/17 at 10:58 am to
Long response
Posted by geauxnavybeatbama
Member since Jul 2013
25134 posts
Posted on 3/6/17 at 10:59 am to
I save $2,000 a month total
Posted by slackster
Houston
Member since Mar 2009
85138 posts
Posted on 3/6/17 at 11:05 am to
quote:

I just started maxing out my Roth beginning this year. So, I put $458 into my Roth, $300 into my T-IRA


That's a bold strategy.
Posted by amo3822
Member since Sep 2015
335 posts
Posted on 3/6/17 at 11:06 am to
quote:

-1000



lol i'm with this guy
Posted by JOJO Hammer
Member since Nov 2010
11927 posts
Posted on 3/6/17 at 11:06 am to
Savings is for suckers. Can't take that shite with you.

Plus my lifestyle with hookers and blow is expensive.
Posted by slackster
Houston
Member since Mar 2009
85138 posts
Posted on 3/6/17 at 11:07 am to
quote:

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)


Might want to shift those contributions to your 401k in that case.
Posted by BabyTac
Austin, TX
Member since Jun 2008
12283 posts
Posted on 3/6/17 at 11:20 am to
So what happens if you're dumping a bunch into 401K then get to 50s and ready to retire. Are you f'ed until mid-late 60s?

Asking...I've never been keen on the tricks of the trade.
Posted by slackster
Houston
Member since Mar 2009
85138 posts
Posted on 3/6/17 at 11:54 am to
There are ways to plan for that. If you're retiring in your 50s, hopefully you've got a well thought out plan for income. You need over $1M to generate $60k per year for 35 years, assuming 3% inflation and 7% fixed returns. Obviously those returns aren't fixed, and $60k may not be anywhere near what you actually need, but you get the idea.

You don't just luck into retirement at 55.
Posted by bmy
Nashville
Member since Oct 2007
48203 posts
Posted on 3/6/17 at 12:07 pm to
Hmm.. make 45k and prob save about 1.2k a month buying whatever I want.. I could probably get that to 1.5k by being frugal
This post was edited on 3/6/17 at 12:10 pm
Posted by BeaverPRO
Tampa
Member since Aug 2009
16251 posts
Posted on 3/6/17 at 12:09 pm to
5% into 401k with 5% company match

old job 401k moved over to Roth IRA gaining 4-6% every quarter since i moved it.

saving 50% of what i don't spend in a two week period of living expenses, but have $1000 in savings account at all times (as per Dave Ramsey)
Posted by stelly1025
Lafayette
Member since May 2012
8539 posts
Posted on 3/6/17 at 12:18 pm to
Not sure if you are trying to brag or not ,but whatever works best for you I guess. Whatever you can put away do it. Not sure what your exact financial situation is.
This post was edited on 3/6/17 at 12:22 pm
Posted by OweO
Plaquemine, La
Member since Sep 2009
114059 posts
Posted on 3/6/17 at 12:21 pm to
$0..

Why would I tell people my financial situation on a message board? So people can come rob me?
Posted by OneMoreTime
Florida Gulf Coast Fan
Member since Dec 2008
61837 posts
Posted on 3/6/17 at 12:26 pm to
15% with a 5% company match in 401k
5% from my company in a pension
Maxing out Roth IRA
And saving whatever is left after expenses

I was around 35% last year. Will be less this year due to house projects but hopefully can keep my rules and get to 30%
Posted by The Torch
DFW The Dub
Member since Aug 2014
19434 posts
Posted on 3/6/17 at 12:28 pm to
quote:

Hmm.. make 45k and prob save about 1.2k


Doesn't compute unless you live with your mom.


$45K / 26 (bi weekly payments) $1,730 * .76 (taxes, insurance, FICA etc etc) = $1,315 take home.

So you take home $2,600 a month and save $1,200

Unless you can live on $1,400 a month or $350 a week
Posted by Anfield Road
Home of the Blue Turf
Member since May 2012
1942 posts
Posted on 3/6/17 at 1:11 pm to
Not sure for monthly, but I save around 35% of gross yearly salary to max out 401k, IRA, and HSA.
Posted by rpg37
Ocean Springs, MS
Member since Sep 2008
48195 posts
Posted on 3/6/17 at 1:29 pm to
quote:

I just started maxing out my Roth beginning this year. So, I put $458 into my Roth, $300 into my T-IRA


That's a bold strategy.


Why is that?
Posted by baobabtiger
Member since May 2009
4733 posts
Posted on 3/6/17 at 1:49 pm to
We are in the last months of paying off our car. It's our only debt outside of the house.

Before buying the car in may of last year we were saving 31% of pretax income. Sine then we've been socking away only 16%.


Posted by IT_Dawg
Georgia
Member since Oct 2012
21867 posts
Posted on 3/6/17 at 1:58 pm to
I max out my 401k every year and then save 28% of after-tax dollars
Posted by Jj283
Houma
Member since May 2015
798 posts
Posted on 3/6/17 at 2:47 pm to
quote:

Might want to shift those contributions to your 401k in that case.


Damn. Good call. Why didn't I think of that.

Thanks.
Posted by Zach
Gizmonic Institute
Member since May 2005
112619 posts
Posted on 3/6/17 at 3:06 pm to
I save 50% of my monthly pension. I use the other 50% to pay for food, utilities, gas, etc. I don't have a mortgage or car payment.

My wife saves none of her monthly paycheck. She spends 100% of it on stupid shite. This is why women are so vital in a retail based economy.
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