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MAGA
2010 Feb 10, 2:27am
I've never broken it out before, but I would guess around half of my net income goes into savings. I have given up on the stock market.
I live a very conservative lifestyle. My only weakness is Starbucks (I'm a gold member).
I’ve never broken it out before, but I would guess around half of my net income goes into savings. I have given up on the stock market.
I live a very conservative lifestyle. My only weakness is Starbucks (I’m a gold member).
JV, if you can save half of your net income you deserve a Starbucks. Salute!
Leigh
2010 Feb 10, 1:51pm
Just my 13% pretax dollars that go into my 401K. I think I only get 3 or 6% matching from my company. I'm pretty darn conservative in my investments since I saw the red flags in the market in around the summer of 2008 so I didn't lose much in the market when it dropped but I also didn't ride the rebound nor will I lose in this second fall;O). Other wise my two little kids are sucking my bank account dry!:O) Anxious for the day my infant is no longer sucking down his special $300/month Nutrimagen formula due to a gazzillion allergies. Will likely put that savings into rainy day savings. As for other savings, sold house at the peak and watching prices drop (rents and asking prices for homes)...bitter sweet savings.
Ever wonder how folks making
For me and the wife, we're simlpy doing what we used to do. Two incomes, live out of one income.
We started on hugh debts, thus we're forced to live like that. We often skipped our lunch to save few bucks. After some miserable years, we paid them all off. Then, we started putting money into joint savings. We kept things like that for years and will keep doing that.
For 2009 I put about 8% into my 401k (maxed). My employer matched half of that, so 12% I suppose.
I put 40% into a savings account because we were saving for a house. This year I expect our savings to be more like 10-15% on top of the 401k, and into something with better yield.
If you really want to save money, move out of CA. That 10% sunshine tax isn't worth it.
MAGA
2010 Feb 11, 2:14am
I’ve never broken it out before, but I would guess around half of my net income goes into savings. I have given up on the stock market.
I live a very conservative lifestyle. My only weakness is Starbucks (I’m a gold member).
JV, if you can save half of your net income you deserve a Starbucks. Salute!
I'm single and debt free, retired soldier and now working in the computer field. Saving 50% is not a hard thing to do.
Got my Starbucks here in Burlingame. LOL.
As a finance guy and spouse a tax guru, we are always fascinated with savings,returns and investment. Care to share how much you are saving and discuss what works and what doesn't.
After finishing the 09 tax return and have a chance to look at all those statements, here's ours: We are a family of 4 with young childrens so child care is quite signicant.
401K, family portion = 10% of gross
401K employer portion = 7% of gross
Forced Savings: (mortgage) = 14% (13 monthly payment on all prop)
New Deposits in Inv Acct: = 11%
Total Savings = 43%
Expense:
Tax Based on income = 27% federal, state, SSN, medicare
Property Tax = 7%
All other, net of rent collected = 30%
Total expense = 64%
Interest/dividends/gains = 14%
#housing