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Message
re: How much money do you put in savings every paycheck?
Posted on 12/5/12 at 12:09 pm to braindeadboxer
Posted on 12/5/12 at 12:09 pm to braindeadboxer
I max 401k for my wife and I. We own the company and are both over 50 so I think that works out to $22500 each a year.
I also set aside $1000 a paycheck for savings. Payroll is every two weeks so that's another $26000 a year.
An additional $5k goes into IRAs for each of us every year.
Then I save cash and stick it in a drawer in my office. $100 every two weeks and I don't spend $1 bills so all those go into the drawer as well.
I'm looking for more ways to put cash away for us. I want to get to well over $100k a year but I have a ways to go to get there. One just out of college and one in college right now. There's over $1000 a month more I'll put away once he's done.
I also set aside $1000 a paycheck for savings. Payroll is every two weeks so that's another $26000 a year.
An additional $5k goes into IRAs for each of us every year.
Then I save cash and stick it in a drawer in my office. $100 every two weeks and I don't spend $1 bills so all those go into the drawer as well.
I'm looking for more ways to put cash away for us. I want to get to well over $100k a year but I have a ways to go to get there. One just out of college and one in college right now. There's over $1000 a month more I'll put away once he's done.
Posted on 12/5/12 at 3:47 pm to VABuckeye
Cash is king for sure, I like your plan!!
W.C Fields once said, "the best way to double your money is to fold it and put it back in your pocket"
W.C Fields once said, "the best way to double your money is to fold it and put it back in your pocket"
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