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Old 03-09-2015, 07:07 AM
 
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I know this has been talked about but 2015 is a new year and I, for one, have new goals.

Including cash, 401k, roth/traditional, etc what is your % saved of your income.

Right now i am at 25% gross and always looking for ways to increase it
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Old 03-09-2015, 07:14 AM
 
Location: NNJ
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When we were dual income with no kids but just starting out in our careers, I think it was around 25-30%.

Its now a measly 8-10% since we are supporting a new 5 person family on a single income. That will change once my wife is able to work again but that's probably a couple years from now.
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Old 03-09-2015, 07:16 AM
 
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That is a good point. I am a single person no kids (just two pups) in a semi/high cost of living area
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Old 03-09-2015, 07:21 AM
 
Location: NNJ
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Quote:
Originally Posted by unknownuser123 View Post
That is a good point. I am a single person no kids (just two pups) in a semi/high cost of living area
and... I think 25% is very good for someone in your age bracket in your situation. Keep it up! It only gets a more difficult to save (both in terms of expense and motivation) once life gets complicated (ie family, home ownership, kids, spouse)

I can't tell you how many of my coworkers in a similar situation don't save anywhere close to that.



I only started getting into the habit of investing recently. That's the only thing I wish I started earlier in life. I was simply dumping loads of cash into savings, IRAs, and 401k and didn't really stay interested in the underlying investments.
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Old 03-09-2015, 07:28 AM
 
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Thanks!

I do have a home and the plan is to have my 30 year mortgage paid off in 15 To 20. I took a break from investing when the crash happened. Took a big hit to my wallet and confidence

I am starting to get my feet wet again by reaollocating my IRA just have to find the right stocks/funds
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Old 03-09-2015, 07:41 AM
 
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My wife and I are roughly 50% of gross +\-


Dual income, no kids.

Biggest factors to our success

1. 200k income
2. 200k mortgage
3. We used to have a monthly budget meeting which narrowed in the numbers
4. 401k, roths, savings accounts and taxable investment accounts are all funded automatically
5. My wife spends a great deal less than she makes
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Old 03-09-2015, 07:47 AM
 
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around 30% or so. Depends on the month. Last month was about 40% while January was about 25%. Other than maxing out my Roth IRA and a measely 5% to a 401k, the rest is going to pay off debt. Once two more of my loans are paid off this year I should be close to 50%, depending whether or not my gf works (She travels with me for work and it isn't always practical for her to work)
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Old 03-09-2015, 09:01 AM
 
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We're at about 70% annual savings rate. The figure shot up after we paid off our house. currently, about 7500-8000 goes towards the market each month.
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Old 03-09-2015, 09:10 AM
fzx
 
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Should the part of the mortgage towards principles be counted as savings as well?
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Old 03-09-2015, 09:11 AM
 
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Quote:
Originally Posted by fzx View Post
Should the part of the mortgage towards principles be counted as savings as well?

I don't pay anything towards princ but yes you could although for most people it's a small percentage of the payment. You could breakdown any loan that way
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