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How much do you save? invest? monthly, annually

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We make good money, but it comes in erratically. Some months we dip into the savings, some months we put 20k away. We should save about 40-60k a year if everything goes to plan.
 
25yrs old.

Car is almost paid off.

Wedding and honeymoon are budgeted out and will be paid off by the wedding this may 2016. And I defer 25% of salary.

After the wedding, house funding begins!

Edit: I have about 2-3months of living expenses saved in my checking at any given time.
 
bluelightningduo said:
A lot of people in this thread have mentioned "high interest/yield savings accounts." What return rate (%) are you guys getting?
Click to expand...

That is depend on the each country fed interest rate.

Here in Thailand interest rate on normal saving account is 0.5% - 0.75%.
My high interest rate account is 2.55% if you keep deposit every month more than you withdraw.

Our neighbor country saving interest rate is 6.00%
 
Not saving as much as I'd like to for the moment, but at least happy I'm able to save something.

Putting about 10% into my 401K, wife is the same. Another 5% into a savings account (which we use as our "buffer" and for improvements to the house, stuff like that), and just about 2% into my daughters 529. Kiddo is 20 months old, so we have a few more expenditures to take care of at the moment, daycare being a big expense.

We're currently debating whether or not it would be feasible for my wife to take a year off next year to be with kiddo, but doing so will understandably prevent me from really saving anything during that time. As far as I'm concerned it would be absolutely worth it, but would out a bit of a strain on things.

Admittedly, we're lucky. We both went through college and have stable jobs, both worked hard to get where we are. Goal is to be able to put more into savings, need to update a few spreadsheets I have going to see where I can cut back a bit.
 
I used to save a bunch but recently made a few life changes and had to invest money in the process so right now I'm trying to crawl out of a little debt. The holidays are making that a little difficult.
 
Everything (usually leave like a 100€ into account) I have left on my bank account the day before I get my next paycheck. This is usually somewhere between 300-1000€ depending on overtime/if i bought useless shit.
 
My husband and I manage to save about 25% of our take home pay, but we don't really make that much money compared to some people in this thread so that amounts to only about $1000/month. Some of it's into retirement mutual funds, some of it company stock matches. I'm thinking of switching to ETFs once I get a better feel for them and we have a substantial amount to invest (~40k?).
We only started seriously saving starting last year and we're 31/32, have a mortgage on a condo and I have some student debt and are planning for kids soon, but there's some time to make good for retirement, I think! If the investments go really well, we may be able to retire early at 55, so fingers crossed!

I'm envious of some of you being able to save soooo much money (50k/year??? get out!!), but I also like living a stressfree semi-unambitious life, so I guess that's the trade-off!
 
I've been saving a good 60% of my monthly earnings as of late. 30% is going to my honeymoon for next year (which should be done by March), and the other 30% is either play money or used for emergencies. My car is paid off, and my last credit card is almost paid off.
 
I put 8% in my 401k and another $100 a month in a Roth IRA, both pretty conservative funds. Another $500 a month or so goes in a savings account.

I'd like to do some non-retirement investment even if it's just an index fund but I'm irrationally nervous.
 
I'm 39 and started saving around 5 years ago (catch up time!).

I have a good amount in my bank account for emergency/everyday purposes. I've put in the max contribution towards my Roth IRA the past 5 years at Vanguard (Target Retirement fund). I now put in a huge chunk of my pay towards my 401k to try and get close to the max as possible. My 401k fund is at Vanguard (LifeStrategy Growth) which has a low fee as per most Vanguard funds so I think I got it pretty good. I only have about 8k in my 401k but it'll rise nicely with my increased contribution.

I'm in an easy position in life expense wise in that I am not married, have no kids, no pets, no car (good ol' NYC transit system) and have no debt other than typical monthly credit card usage that is paid in full each month. How long that'll last is something I can't answer. Who knows..I may get married one day or even become a dad. I'll continue to do the best I can with my money and try to stay in good health as well.
 
Other than my 401k, I haven't been able to start investing. I've been at my job for a little over a year, and my fiancée and I are saving up for our wedding next year, so most of my money is liquid cash sitting in a 1% interest savings account. In addition, my fiancée can only afford her own bills, so I help her out when she needs it and will be helping her out some more once she starts college back up next month.

Overall, I'm only able to put away around 20% of my annual income. 3% of which goes to my 401k at the moment (trying to bump my contribution up with the next raise to get the company match maximum), while the rest goes into savings for the wedding and emergencies. I'm hoping to jump onto other investment options like Vanguard in 2017 once the wedding has passed.
 
MaxDOL said:
That is depend on the each country fed interest rate.

Here in Thailand interest rate on normal saving account is 0.5% - 0.75%.
My high interest rate account is 2.55% if you keep deposit every month more than you withdraw.

Our neighbor country saving interest rate is 6.00%
Click to expand...

6%? Wtf I get 0.90% here in the US with Amex.
 
I have 10% of my paycheck go into the 401k (which isn't great) and for the last few years have been max contributing to a ROTH IRA. Man, I wish I'd done it when I was younger. It seemed so complex back then but now there is so much info and services that make it easy.
 
i put 5% into RRSPs, 2% into stock options, $150/week into a savings account that i have readily available and can use for whatever (car repairs, house repairs, etc..). i've owned my own house for 2.5 years so every 2 weeks i'm putting money into that with my mortgage

other then that i am working on clearing out old debt from when i was younger, credit cards are all clear just working on the line of credit. then i can increase the amount of $$ being put into all of the above
 
80% of my paycheck is saved.

It helps I'm not into consumerism. Never cared about owning the most expensive clothes or latest cellphones. Just owning a small game console and personal computer is enough for me.
 
Well it kind of goes out the window in November/December, but typically my payments are split up:

$650 Rent/Utilities
$200 Grocery
$70 Phone
$2000 student loans


I already have 8k in savings, which is my 6 month cushion. I'm not going to worry about adding more or investing until my student loans are paid off (which should be in about a year). I'm 26 btw.
 
$350 minimum, at the end of each month I then put anything over $400 from my every day account into my mortgage. I want to pay off my mortgage when I'm 40 years old.
 
I started putting the max into my TSP (Government 401k) around when I turned 29 a few months ago. Before that I was putting 12% of my salary I think. The Government adds 5%. I opened a Roth IRA last year, but didn't put anything into it this year, instead opting to open a non-retirement investment account. Don't feel too bad about that though, because I can also count on a pension assuming I stay with the Government.

Next year I'll probably try to max out the 401k and Roth IRA, then split whatever's left between the investment account and my mortgage.
 
chicko1983 said:
So in the USA, there is no pre-tax deduction from pay which goes into the 401k, but you have to put money in there yourself?
Click to expand...

401k is pretax, but your employer has to offer it and you have to contribute. Most employers will match up to about 3%.

Otherwise there is IRA and RothIRA which is all post tax.
 
Darren870 said:
401k is pretax, but your employer has to offer it and you have to contribute. Most employers will match up to about 3%.

Otherwise there is IRA and RothIRA which is all post tax.
Click to expand...

Well deductible Traditional IRA is post tax but is effectively pre-tax, unless you do non-deductible which is only good for backdoor Roth.

I don't know much about myRA but I assume that might be closer to what the original person has in other countries.
 
I started pretty late. Aside from 4% 401k matching from my job, I just put like 50% of my money in the bank and never bother to invest into early 30s. Just recently putting them into stock. I plan to put them in monthly from now on.
 
negreenfield said:
Well deductible Traditional IRA is post tax but is effectively pre-tax, unless you do non-deductible which is only good for backdoor Roth.

I don't know much about myRA but I assume that might be closer to what the original person has in other countries.
Click to expand...

Yep!

But for simplicity 401k is pre tax money and IRA is post tax money.

We have Superannuation here in Australia which an employer must contribute at least 9.5% to. Mine does 10%. That can be both pre or post tax if I remember correctly.
 
I'm 19 and have no living expenses due to living with my folks still. I put 75% of my last job's paychecks into my college fund. It makes dick all interest right now because most of it, save for a mutual fund, is sitting in various savings accounts with like less than a cent on the dollar return. Not that it matters because I'll be paying tuition in a year or so. I figure my 25y/o self would rather have less student loans than getting a PS4 right now or something.

Oh and dumb kid question, but what does a 401k do? I don't pay taxes and I'm from Canada, so I've no clue what that is lol.
 
I put 15 percent of after tax income in stocks and bonds I pick myself. I rarely if ever sell stock or bonds.

I don't mess with index funds. I hate the fees.

Eventually, I'll like to purchase real estate for rental property in cash for extra streams of income.

I also will never retire if I stay healthy. I love work and live to work.
 
nothing, because i have a highly stressful job both physically and mentally, so of course i get paid a minimal amount, living paycheck to paycheck.

i can afford videogames, rent and food though, so i can't complain really. others have it much worse.
 
I grew up in low to lower middle income, and then in my adolescence was raised in deep poverty after my parents divorced. That was probably formative of my career path into finance and my aversion to debt.

My wife and I started our Roth IRA's when I started college and we've saved regularly since. It doesn't feel like that much because nearly all of it is automated, either coming out of our paychecks, or out of checking once the paychecks hit, but it adds up to a large share of our income.

In general the approach of saving first, making it automated, and managing the remaining budget has worked well.
 
How much do you all make to save 75% of your salary? I work 1 job making 36.5K and a second making around $400 month and I STRUGGLE every month with bills, rent, car payment, etc. I'm hoping to refinance middle of next year on the car to bring it down from $282/month.

I live alone so everything is on my shoulders. Been looking for a roommate to split the bills with but no luck. I really want to start investing in my future. Company is offering enrollment in their 401k beginning next year and I plan to start that.

Getting a financial "safety net" is something I really want to start next year.
 
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