How much do you save?

[ILikeStuff]

Personally I put 10% into my 401k, and will soon be putting 7-8% into a money market. I also am building equity in my house. How much of your income are you saving for retirement/rainy day?

 

[SCSIfreek]

Trying to save $2500 every month. been doing it since Jan, 2002. In addition, to the IRA account for retirement. I'm doing pretty good at the moment.


--scsi

 

[Maverick]

not much at all. Thank God I started doing 3% to my 401k early on.

 

[ILikeStuff]

Originally posted by: SCSIfreek
Trying to save $2500 every month. been doing it since Jan, 2002. In addition, to the IRA account for retirement. I'm doing pretty good at the moment.


--scsi

wow, even if I pared my budget down to the bare necessities, I don't think I could save that much... wow

 

[Electric Amish]

6% in my 401k....that's about it.

 

[Booster]

How much of your income are you saving for retirement/rainy day?

I'm not going to live till the retirement and all the money in the world I could ever collect wouldn't help me in case of a rainy day (heck, everybody knows that doctors can cost millions in case of some serious illness). There just can't be enough money.

 

[CrazyDe1]

One of my friends just graduated with 50k in the bank saved up from his internship for 2 years. He's now making 54k a year saving almost all of it because he lives at home and will continue to do so for awhile. He's got a brand new car that his dad won and gave to him and he's got 10,000 in a roth IRA from when he was 16...the kid's doin awesome...

Now if only I could get a job I'd be saving taht much

 

[GigaCluster]

All I get is allowance at this time since time does not permit to get a job... I have about $400 in the bank and about $80 at home.

 

[PowerMacG5]

I said 50-99%. I am forced to put my paycheck into the bank by my parents (which is a good thing, I think), and I only spend the money when I need to purchase something. As of now from work and my Bar Mitzvah I have ~$16000 saved.

EDIT: I also get no allowance.

 

[Jzero]

15% into my 401k, $500/month into my ING, $3000/year to my Roth IRA. My checking account grows each month in spite of my spending, but I could probably do a whole lot better if I really wanted to.

 

[MrDingleDangle]

negative...but then again im a grad student so i make less then 20k a year

 

[CrazyDe1]

Originally posted by: Jzero
15% into my 401k, $500/month into my ING, $3000/year to my Roth IRA. My checking account grows each month in spite of my spending, but I could probably do a whole lot better if I really wanted to.

That's not too bad at all...

 

[GTaudiophile]

15% is my goal, but it can be more than that of course.

 

[Toasthead]

My wife makes 2000 take home a month and we dont spend a penny of it

 

[amdskip]

$2600/year into company stock which is a lot considering I make about 12k/year. I just deduct it out of my paycheck and I have some 401k set up too but I don't know much about it.

 

[BooGiMaN]

well the wifey and i are just about done paying off all of our bills in full
and we agreed for the rest of the year we will be on a strict budget just to increase our savings...

so after the house and bill payments we are almost putting away 3k a month then taper off to about 1500 to 2k a month after the first of the year....barring any unforseen stuff...i.e. layoffs or what have u (knock on wood) we will be doing pretty good.

I just wish we had focused on our finances like this much much sooner...oh well

 

[Hossenfeffer]

Save?

Well, as an actor who grosses around $8k a year... I'll give you a hint. I don't save much.

 

[Jzero]

Originally posted by: Hossenfeffer
Save?

Well, as an actor who grosses around $8k a year... I'll give you a hint. I don't save much.

We're not the IRS. You can tell us about your tips from waiting tables

 

[Radiohead]

15% of take home goes to my retirement savings
55% goes to loans

The remaining 30% is my monthly expenable cash & for paying off CC.

 

[datalink7]

0% - I make ends meet.

Next year I hope to start saving, but currently I am scraping by.

 

[wyvrn]

Is this gross or net of taxes?


6% fully matched into 401K (pretax)
$ monthly into Roth IRA
$ month to Ingdirect for emergency fund
$ month aggressive money fund (not to be confused with a money market fund)
$ month VUL policy (insurance + investment)

Above is about 22% of our gross salary.

Then there are the two houses my wife and I have as investment property. That's another 28% of our gross we make in equity paid by renters each month.

So that adds up to 50% of gross salary being saved in real estate and investment products. I think we do a good job

 

[Dragnov]

C'mon Chinese people, show your stingy self!

Haha j/k. But places like Taiwan and China, and Asia in general these people tend to have very high savings rate.

 

[Jugernot]

I invest about 40-45% of my take home pay, which equals out to about $33,000 a year.

Most of it is going into a short term investment fund for a nice downpayment on a house in a couple of years, when I have 30-40k saved up. The rest goes into my Roth IRA and a mutual fund.

 

[wyvrn]

It is from my wife where I learned to do a lot of investing. She is Asian. I am much more frugal with my money now than before; and if one of us loses our job, no sweat man! Stingy or not, I almost have my financial freedom

Originally posted by: Gr1mL0cK
C'mon Chinese people, show your stingy self!

Haha j/k. But places like Taiwan and China, and Asia in general these people tend to have very high savings rate.

 

[Dacalo]

I used to save a quiet a bit when I was going to school and working, but now, I am unemployed

Did pretty well with stock as well, with minimum of 30% in portfolio, but I am graduating in 2 months and just trying to get a job and spend my savings