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re: How much money should you have in the bank by age 30.
Posted on 9/22/17 at 1:04 pm to Mor Miles
Posted on 9/22/17 at 1:04 pm to Mor Miles
quote:
$15k in checking, $25k in savings, $40k in 401k and another 10k in a vanguard IRA. Own a home ($220k left of mortgage), no student debt, no car payments, but paying my wife's tuition for engineering classes. 27 years old and was laid off and out of work for most of last year and not contributing to any of my retirement accounts at the time.
dude come on, you're like that guy who says "yeah I was in the military" and then he proceeds to tell you all about how he was a NAVY SEAL and blah blah blah" at some point everyone reading is like "what a lying a-hole" You went too far
1
Posted on 9/22/17 at 1:14 pm to GermantownTiger
I plan on having my credit debt paid off by 30.
Posted on 9/22/17 at 1:15 pm to DeafJam73
quote:
engaement ring,
women start depreciating the minute you put that ring on their finger
Posted on 9/22/17 at 1:25 pm to Lou Pai
quote:
Such a fricking idiot
Says the guy putting his money in a savings account.
Posted on 9/22/17 at 1:30 pm to HeyHeyHogsAllTheWay
It helps that the wife inherited a family business from her dad when he passed away a few years back, one that pays for our cell phone bills, part of our mortgage for a couple years, and essentially furnished nearly our whole house for next to nothing out of our pockets. All of the stuff was used, but when you don't have to spend money on any tools, TVs, entertainment center stuff, lawn care equipment, furniture, etc it makes it a lot easier to sock away over half your paycheck.
Posted on 9/22/17 at 1:37 pm to Mor Miles
quote:
It helps that the wife inherited a family business from her dad when he passed away a few years back, one that pays for our cell phone bills, part of our mortgage for a couple years, and essentially furnished nearly our whole house for next to nothing out of our pockets. All of the stuff was used, but when you don't have to spend money on any tools, TVs, entertainment center stuff, lawn care equipment, furniture, etc it makes it a lot easier to sock away over half your paycheck.
Yeah, congratulations to anyone who saves, but some situations posted in this thread are difficult to achieve without extenuating circumstances.
Posted on 9/22/17 at 1:38 pm to slackster
OP should of said in the title *Without Parents Help*
Yeah im a little butthurt
Yeah im a little butthurt
Posted on 9/22/17 at 1:43 pm to Burt Reynolds
quote:
Says the guy putting his money in a savings account.
Well you need liquid cash that is easily accessibly for you. Not a ton of it, but having a few thousand tucked away just in case something happens and you need cash fast.
Posted on 9/22/17 at 2:01 pm to 50_Tiger
If it is any consolation, she only got those perks while working their full time (60+ hours, 6 days/week). Now that she is a full time student her brother has cut her off from most of it. And yeah, cheap stuff is cool, but its nothing worth losing your last parent over.
Posted on 9/22/17 at 2:38 pm to GermantownTiger
These threads are great
Posted on 9/22/17 at 2:59 pm to jimbeam
I've heard you want 1 years worth of salary in your 401k by the time your 30, two years of salary by 35 and then 3-4 years of salary by 40. From there you can have a good nest egg to plan out your next 20 years.
I'm 5 years behind, but currently maxing out my 401k at 34.
Savings is 6 months expenses with no income which you can place in easily convertible investment accounts.
I'm 5 years behind, but currently maxing out my 401k at 34.
Savings is 6 months expenses with no income which you can place in easily convertible investment accounts.
Posted on 9/27/17 at 11:06 pm to Displaced
quote:
You say that, but you won't.
Why do you say that?
I have done it the past two years. If I don't see it coming in, I will not know that it is gone.Posted on 9/28/17 at 6:44 am to The Goon
quote:
I've heard you want 1 years worth of salary in your 401k by the time your 30, two years of salary by 35 and then 3-4 years of salary by 40. From there you can have a good nest egg to plan out your next 20 years.
This sounds pretty accurate. I've always put a high percentage of my salary in my 401k and now at 31 I have right around $170k, not including the $40k in my wife's who is younger. I haven't checked it in a while and just noticed that I'm up 17.4% this year!!
Posted on 9/28/17 at 7:03 am to TitleistProV1X
Well looks like I am behind on my 401K, however I fricked around and switched my majors and took a yr off in college. Didnt grad until 26. I think I am doing well, my 401s, IRA and stock holdings combined are probably 50% of what ill make this yr. My salary is above average I think for most my age and definitely for being 3 yrs out of college though so I'll give myself a break.
This post was edited on 9/28/17 at 7:06 am
Posted on 9/28/17 at 7:47 am to TitleistProV1X
frickkkkkk I'm 27 and I think I have about 25% of a years salary in my 401k at best. Buncha frickin overachievers around here.
ETA: just checked, 24.9%
ETA: just checked, 24.9%
This post was edited on 9/28/17 at 8:12 am
Posted on 9/28/17 at 7:56 am to GermantownTiger
If it's more than an emergency funds worth, you aren't maximizing your life.
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