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Old 04-02-2009, 10:40 PM
 
9 posts, read 20,493 times
Reputation: 16

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What percentage of your paycheck do you save per month?
I'm 27 and I save as follows:
6% into 401K with 3% match (pre-tax)
14% into Roth IRA (post-tax)
10% into non-retirement mutual funds (post-tax)
28% into cash savings (post-tax)

I live really frugally, $300/mo rent (hooray for roommates!).
Just wondering what others in my age range put away monthly?

Cheers!
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Old 04-03-2009, 01:01 AM
 
533 posts, read 1,316,543 times
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Wow, you live on 42% of your income, I'm impressed!!

This year, we will try to save about 38% of our net income.
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Old 04-03-2009, 09:00 AM
 
Location: USA
148 posts, read 300,426 times
Reputation: 99
76% of net goes to various portfolios.
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Old 04-03-2009, 10:35 AM
 
2,772 posts, read 3,777,813 times
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We do 11% into a 401K (the legal limit for us) and another 15%-20% (depends on DH's side business) into a money market that we're trying to build a year's worth of expenses in case of emergencies. We have 6mths currently. We also fully fund a Roth for me every year but usually do it with a bonus or extra money from DH's side biz.
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Old 04-03-2009, 12:13 PM
 
964 posts, read 3,108,730 times
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16% of gross to 401k/IRA (pre-tax savings)
approx. 28% of gross to savings/investments/mortgage principal pmt.

We save roughly 44% of gross. But I think we can save 50%, if we try.
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Old 04-03-2009, 07:31 PM
 
901 posts, read 2,341,699 times
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25 % of my net goes into saving. I thought I was doing pretty good. The posters here put me to shame lol. I guess 25% is better than nothing. Keep in mind that I support myself fully and live alone in a high cost of living city.
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Old 04-03-2009, 07:56 PM
 
Location: Virginia
931 posts, read 3,153,903 times
Reputation: 441
I currently save about 30% of my income a month. Directly into a savings account. I could probably save more, but I like to go out to eat a lot.
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Old 04-03-2009, 08:05 PM
 
Location: CA
2,464 posts, read 5,117,274 times
Reputation: 2536
Sam82 - approx. 25% average here also. We put the max 401K contribution, max out IRAs if we qualify, and squirrel money away into additional investment vehicles (brokerage accounts, college accounts, emergency funds, and we buy income properties). I'd love to have lower overall expenses to invest/save more but that will come in due time. Living in an high cost areas (So. Cal.) does seem to take a bigger bite out of our savings % it seems.
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Old 04-04-2009, 12:11 AM
Status: "Moving forward..." (set 19 days ago)
 
Location: Houston, TX
17,002 posts, read 22,696,405 times
Reputation: 16021
Good for the OP, try to keep that lifestyle up.

I put 15% to 401k retirement account off the top, then try to save 30-40% after that. It will change to 20-25% when I move to a more pricey house.
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Old 04-05-2009, 02:59 AM
 
Location: Maryland
1,533 posts, read 3,218,380 times
Reputation: 2270
I'm retired; house, cars, college costs, weddings (have 2 daughters) are all paid off. I'm basically saving 50% of my net income. My expenses are fairly low and I try to keep things simple. I grew up dirt poor and don't like debt or being financially stressed. It is important for younger folks to understand that credit cards and related debt should be used wisely and never incur an obligation you can't pay. Cash in the bank is, in my opinion, a good way to go for most people. The talking heads and financial advisors will disagree, but debt free is my advice. A 30 year fixed rate mortgage is the only debt one should have. JMHO.

Last edited by Pilgrim21784; 04-05-2009 at 03:32 AM..
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