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re: What's a "normal" amount of money for a late 20s person to have in savings?
Posted on 7/28/13 at 9:20 am to WG_Dawg
Posted on 7/28/13 at 9:20 am to WG_Dawg
32 and I have a little over 15k in savings.
I didn't finish grad school until 26 and my first year of work didn't pay a whole hell of a lot compared to my expenses. At 27 we started paying off my 92k+ of student lones and I finished paying it off at around 29 and a half. We then bought a cheap house and had a son in my early 30s and we have only my income. My situation is a bit different in that my profession is in high demand and I'll never really be out of work.
As long as you are out of dept in your 20s I wouldn't sweat it. Have a couple months emergency fund and enjoy this time in your life.
I didn't finish grad school until 26 and my first year of work didn't pay a whole hell of a lot compared to my expenses. At 27 we started paying off my 92k+ of student lones and I finished paying it off at around 29 and a half. We then bought a cheap house and had a son in my early 30s and we have only my income. My situation is a bit different in that my profession is in high demand and I'll never really be out of work.
As long as you are out of dept in your 20s I wouldn't sweat it. Have a couple months emergency fund and enjoy this time in your life.
1
Posted on 7/29/13 at 10:57 am to WG_Dawg
reading this thread it sounds like the wife and i dont have enough saved at this point, and we always felt like we were ahead.
we will both be 43 this year and between the 2 of us in savings, home equity, retirement plans, and 529 accounts we are sitting combined at about 1.4M net worth, or only 700k each, (the actual split is about 66/34 in favor of the wife). looks like we have some work to do.
we will both be 43 this year and between the 2 of us in savings, home equity, retirement plans, and 529 accounts we are sitting combined at about 1.4M net worth, or only 700k each, (the actual split is about 66/34 in favor of the wife). looks like we have some work to do.
Posted on 7/30/13 at 2:25 am to WG_Dawg
3months living expense in a savings account.
Keep about 1K in checking account anything more and wife buys too much stuff for kids.
No ira's right now but not too worried I have other assets -land, timber, mineral rights, etc......
No credit card debt.
Mortgage, wife's student loan, and one car payment.
Considering her parents and my parents at our age we are doing fine.
Keep about 1K in checking account anything more and wife buys too much stuff for kids.
No ira's right now but not too worried I have other assets -land, timber, mineral rights, etc......
No credit card debt.
Mortgage, wife's student loan, and one car payment.
Considering her parents and my parents at our age we are doing fine.
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