U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Frugal Living
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-16-2008, 05:14 PM
 
Location: In my view finder.....
8,521 posts, read 13,546,101 times
Reputation: 8079

Advertisements

What % of your annual income is considered a good amount to save/invest? I know the economy is not doing so well and peoples budgets have changed but in general what is a good amount to save/invest?

Also, I do realize everyone earns different amounts of money but let's keep it simple and post your views.

How much do you try to save/invest? 10%,20%, 50%, etc...................
Reply With Quote Quick reply to this message

 
Old 07-16-2008, 06:14 PM
 
Location: Utah
4,968 posts, read 13,996,516 times
Reputation: 4922
I was contributing 12% of my salary to my 401k, my employer contributes 2%. My employer also contributes 10% to my state retirement account. Last month, I decreased my 401k contribution to 3%. I'm using the money to begin the remodel process in my basement. Once the remodeling is completed, I'll increase it back to 12%.
Reply With Quote Quick reply to this message
 
Old 07-16-2008, 06:16 PM
 
26,888 posts, read 38,133,169 times
Reputation: 34831
About 25%
Reply With Quote Quick reply to this message
 
Old 07-16-2008, 06:23 PM
 
Location: Eastern NC
18,095 posts, read 16,624,381 times
Reputation: 15938
I contribute 15% to my retirement but thats it.
Reply With Quote Quick reply to this message
 
Old 07-16-2008, 07:06 PM
 
Location: Under the SUNNY WARM SUN ....
14,939 posts, read 10,006,042 times
Reputation: 17529
I save 10% to my savings account.
Reply With Quote Quick reply to this message
 
Old 07-17-2008, 02:43 PM
 
Location: Joplin
2,201 posts, read 2,243,283 times
Reputation: 4256
My employer contributes 9% to my retirement plan and I contribute the same. If you put more money in your retirement than your employer does, IMHO you are not investing to the best of your ability. I also contribute about 18% to a money market (makes much better intrest than a savings account, but just less than a CD). I then contribute just less than 4% to an IRA). In todays world, you really need to plan for the future. I would really really suggest you read "Total money makeover" by Dave Ramsey. He will open your eyes to eliminating debt and maximizing logical spending power. Its a great book.
Reply With Quote Quick reply to this message
 
Old 07-17-2008, 02:57 PM
 
Location: The Circle City. Sometimes NE of Bagdad.
17,482 posts, read 18,638,752 times
Reputation: 47038
Ha, being retired, I'm now getting to spend it.
Reply With Quote Quick reply to this message
 
Old 07-17-2008, 06:09 PM
 
96 posts, read 249,533 times
Reputation: 67
7% myself and then a 7% employer match. Plus a little extra in a high interest savings account.
Reply With Quote Quick reply to this message
 
Old 01-01-2010, 11:38 AM
 
Location: In America's Heartland
929 posts, read 1,823,735 times
Reputation: 1173
About 23%, which includes retirement and non retirement savings and investing.
Reply With Quote Quick reply to this message
 
Old 01-01-2010, 12:43 PM
 
Location: Fairfield, CT
5,530 posts, read 8,186,609 times
Reputation: 5765
You guys save an impressive amount of your incomes. Kudos to all of you.

I'm currently enjoying a pretty high income, so I save a high percentage of it. For 2009, I saved about 38% of my pretax income, and about 61% of my after-tax income. I have an income stream that will stop after 2012, so this level of saving will not be sustained. But I'm trying to make the most of it while I have it, and contain my expenses so that I can live on a lower income when I need to. I work at a high stress job and would like to step off that treadmill once I'm situated well enough financially.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Frugal Living
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top