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re: How much money do you put in savings every paycheck?

Posted on 12/4/12 at 4:12 pm to
Posted by Hand
far side of the moon
Member since Dec 2007
2064 posts
Posted on 12/4/12 at 4:12 pm to
The rule of thumb that I see most quoted is 10% of disposable income. As a nation, that hasn't been achieved since the mid 1980's.

I (1) max out my HSA, (2) max out my Roth IRA, (3) 15% of gross goes into my 401k, and (4) sweep what amounts to another 15% of gross into a self directed brokerage account. My personal savings rate is about 43%. Gains/interest/dividends get reinvested. Bonuses go to the single mother scholarship fund. It's my goal to grow my net worth by 5% to 8% per quarter for the next two years.
Posted by jclem11
Neoliberal Shill
Member since Nov 2011
7845 posts
Posted on 12/4/12 at 7:57 pm to
I put 6% in 401K to get the company match. I do not have any other retirement accounts set up.

I have $11.5K in student loans to pay off at roughly 5% interest. Should I put all my extra money towards them to get them paid off ASAP and then start saving or try to do them both?

I'm currently trying to pay them off ASAP and am not saving much.

Just looking for an outside opinion.
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