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I don't really know the demographics of this board, but I'm in my mid thirties and have one child. Spouse and I both work.
We save about $5000 per month after expenses. Most of this goes into retirement, and some goes into a future fund for some random purpose (haven't figured that out yet).
I'm mid-forties and have a family. My spouse is mostly a homemaker but has a very, very part-time, home-based business.
We save around $3,500/month since we are apparently counting retirement, etc. The savings is spread all over the place: a 401(k), two Roth IRAs, 529 plans, leftovers in a regular bank account and in my wife's personal account.
Our "leftovers" aren't reserved for any particular purpose; it just accumulates.
after taxes, 7,000/month. max contribution to TSP[gvt] and monthly allotment for CD-IRA[private] is roughly $3,000/month. another $1,000 goes into savings and another $1,000 goes into emergency fund. about $2,000 left over for bills and expenses.
after taxes, 7,000/month. max contribution to TSP[gvt] and monthly allotment for CD-IRA[private] is roughly $3,000/month. another $1,000 goes into savings and another $1,000 goes into emergency fund. about $2,000 left over for bills and expenses.
$2,000 for bills and expenses are included in your 7000?
I don't really know the demographics of this board, but I'm in my mid thirties and have one child. Spouse and I both work.
We save about $5000 per month after expenses. Most of this goes into retirement, and some goes into a future fund for some random purpose (haven't figured that out yet).
How does this compare to others?
I suppose, for all intents and purposes, I am already 'retired' but I work part time. Because of my job I have more than enough to pay all my expenses and bills, take a road trip now and then and still put at least $500 mo. into savings. I have two savings accounts and the smaller one is for some 'future want' but I don't know what yet. The $500+ goes into my main savings and I add $50 or $100 a mo. to the smaller one.
I think I'd feel like a gazillionaire if I could deposit $10,000 a month.
Good grief! What do you people do for a living that you have double digit thousands of dollars to put into savings?!?! I'm in the wrong line of work! I manage to put away a couple hundred or so a month.
Last edited by xraychick01; 09-05-2013 at 06:07 PM..
after taxes, 7,000/month. max contribution to TSP[gvt] and monthly allotment for CD-IRA[private] is roughly $3,000/month. another $1,000 goes into savings and another $1,000 goes into emergency fund. about $2,000 left over for bills and expenses.
This will get you to a great retirement. Nice going. I saved similar amounts - maxed out TSP and Roth and invested into stock mutual funds with what was leftover.
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