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re: How much money should you have in the bank by age 30.
Posted on 9/21/17 at 3:22 pm to GermantownTiger
Posted on 9/21/17 at 3:22 pm to GermantownTiger
That's a "depends" question. What are your goals? What do you own? What are your risks?
I keep about the 3 months worth of expenses line that gets taught to everyone by Hitler Ramsey. Everything else goes in to paying down my house.
I keep about the 3 months worth of expenses line that gets taught to everyone by Hitler Ramsey. Everything else goes in to paying down my house.
2
Posted on 9/21/17 at 3:23 pm to Ancient Astronaut
I have 50k in retirement and try to keep about 10k in savings.
Posted on 9/21/17 at 3:25 pm to GermantownTiger
Completely depends on what your education cost, how recently you were out of school/grad school etc.
I had about 5k but I had also finished paying off 92k in student loans when I was 29 and a half. Decided to take a big chunk of my then savings and go to New Zealand and Fiji for 6 weeks with my wife before we had kids. Didn't want to have that debt hanging over my future family and when we decided to purchase a home so we paid the loans off then celebrated.
I had about 5k but I had also finished paying off 92k in student loans when I was 29 and a half. Decided to take a big chunk of my then savings and go to New Zealand and Fiji for 6 weeks with my wife before we had kids. Didn't want to have that debt hanging over my future family and when we decided to purchase a home so we paid the loans off then celebrated.
This post was edited on 9/21/17 at 3:27 pm
Posted on 9/21/17 at 3:25 pm to GermantownTiger
Depends. Is your goal to enjoy life to the fullest or die with a pile of money in the bank?
Posted on 9/21/17 at 3:25 pm to GermantownTiger
people who save money in the bank are dumbasses. The interest rates don't even keep up with inflation.
Posted on 9/21/17 at 3:27 pm to GermantownTiger
4k in the checking. 72K in debt. No mortgage, no credit cards. No autos.
I don't really know what's in my savings. It goes up my 600 per check and a few right of ways a year. Idk. 210k plus whatever interest has collected over the last 10 years.
I live like a pauper. No more keeping up with Jones's for me. :
I don't really know what's in my savings. It goes up my 600 per check and a few right of ways a year. Idk. 210k plus whatever interest has collected over the last 10 years.
I live like a pauper. No more keeping up with Jones's for me. :
Posted on 9/21/17 at 3:28 pm to BeerMoney
quote:
How much money should you have in the bank by age 30. by BeerMoney
in the bank where it's liquid?
at a min 6 months of monthly expenses.
Anything more than that...invest it!
Posted on 9/21/17 at 3:28 pm to GermantownTiger
at 30 i had about 35k in savings and 4-5k in checking. I'm in sales so i save commish and bonuses since there could be a famine on the horizon
ETA i'm only 33 and those numbers are pretty much the same
ETA i'm only 33 and those numbers are pretty much the same
This post was edited on 9/21/17 at 3:30 pm
Posted on 9/21/17 at 3:28 pm to GermantownTiger
Well today was payday for me so I have about $900 now
Me and Mrs. JFT hitting All of Garden this weekend
Me and Mrs. JFT hitting All of Garden this weekend
Posted on 9/21/17 at 3:32 pm to GermantownTiger
quote:
How much money should you have in the bank by age 30
No such thing as "should"... Some people want to retire at 45, some at 65, some never want to retire... Some people are in med school at 30 and dont have a dime, some people's salary peaks in their 20s and then they hit their ceiling... You do you, and decide what your own goals are-- then you'll know what you 'should' have.
Posted on 9/21/17 at 3:32 pm to JetFuelTyga
Is that the extra redneck version of Olive Garden?
Posted on 9/21/17 at 3:33 pm to JetFuelTyga
quote:
Well today was payday for me so I have about $900 now
Me and Mrs. JFT hitting All of Garden this weekend
Typical OT brag thread
Posted on 9/21/17 at 3:33 pm to GermantownTiger
I find it unusual that not a single person has said that it depends on what your income has been. That is going to be the primary determining factor, other than for something arbitrary like a emergency fund where you need maybe 6 months living expenses which again how much that will be in dollars is entirely dependent on what you make.
Posted on 9/21/17 at 3:33 pm to GermantownTiger
Why exclude 401k? Many people have theirs maxed out and have a high salary
Posted on 9/21/17 at 3:34 pm to cas4t
quote:
Why exclude 401k? Many people have theirs maxed out and have a high salary
does a hell of a lot better than savings
Posted on 9/21/17 at 3:36 pm to cas4t
quote:If you're not maxing it out when you're young and can afford to that's just plain dumb. The company match is the best investment you'll ever see your entire life. Once the house,kids,life, etc starts piling up, most people cant afford to stash 15% of their income away in 401k so doing so early on makes a huge difference.
Why exclude 401k? Many people have theirs maxed out
Posted on 9/21/17 at 3:36 pm to GermantownTiger
Dumb question
Posted on 9/21/17 at 3:37 pm to GermantownTiger
quote:
How much money should you have in the bank by age 30.
Depends on many factors, but 3-6 months worth of expenses is a pretty good baseline.
Posted on 9/21/17 at 3:37 pm to GermantownTiger
I had like 30 grand in the bank and I have had a charmed life . I was young and focused on living in the moment at age 30. Hiking, skiing, living abroad. Now that I'm much older I've only reinforced the error of my ways , and I am focused on living even more passionately in the moment. Materialism is cold gruel. Accumulation is false security. That becomes even more obvious over time. Specific Numbers are ego and illusion. A life well- lived is the goal .
Posted on 9/21/17 at 3:38 pm to cas4t
Agreed, how much you have in your 401k is far more important than how much you have in some checking/savings acct... even then though, it depends on your retirement goals & income potential.
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