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

Posted on 12/5/12 at 12:09 pm to
Posted by VABuckeye
Naples, FL
Member since Dec 2007
35585 posts
Posted on 12/5/12 at 12:09 pm to
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.
Posted by BamaScoop
Panama City Beach, Florida
Member since May 2007
53867 posts
Posted on 12/5/12 at 3:47 pm to
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"
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