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How much do you save?

Lizard King

Lizard King

Administrator
Staff Member
Sep 9, 2010
14,533
7,974
Just curious as to what some of you guys are putting away. I never know if I am saving more than the average person or less and any article you read never really answers the question. I currently put about 11% pre-tax in a 401K and then 10% post-tax in a stock plan which I use as a sort of forced savings.
I know much of this is based on salary and lifestyle, but interested to see some of the responses.
 
5.0

5.0

VIP Member
Nov 3, 2012
5,246
1,696
Divorced with child so not that much....... i invest in life insurance
 
AXEMURDERER

AXEMURDERER

MuscleHead
Jan 5, 2011
342
60
I live somewhat of a monastic lifestyle, but I invest more than save (no stock market stuff). Getting my hands on appreciating assets and some passive income is they way forward in my humble opinion.
 
Mike_RN

Mike_RN

Senior Moderators
Staff Member
Aug 13, 2013
2,644
2,920
I have 10% in 403b, A roughly 10k starting fund which I have put in various IPOs, B-stocks, Direct investments (Hylete and a few Marijuana start-ups). I have a parade of classic motorcycles I buy for peanuts and restored (best returns of all my investments.) I'm also 47 with dual incomes and 1 kid which helps a fuck-ton :)
 
woodswise

woodswise

TID Board Of Directors
Apr 29, 2012
4,334
1,340
I save about 15% of my gross income and have been for over 10 years since I was 40ish. I wish I had started younger because now that I can see it growing, I realize how much more I would have and how much less it would have cost me had I done so . . .
 
FLEXjs

FLEXjs

MuscleHead
Apr 23, 2012
4,421
1,573
Divorced twice with 3 kids so only started saving last year or so as I was living paycheque to paycheque my entire life. Still got one ex-wife on the payroll but finally have some breathing room.

My employer contributes to my RRSP (our version of a 401k) and I top it up as needed. Also put $250 biweekly into a TFSA (Tax-free savings account) but just started that a few months ago and will be bumping that up to $500 biweekly next month.

For my age I am way behind the 8-ball but me and Mrs Flex are both in SAVE MODE so hopefully we'll catch up before we retire.
 
Littleguy

Littleguy

TID Board Of Directors
Sep 30, 2011
4,497
3,517
Off my retirement checks I can still stick a good 50% away every month so doing well in that arena, luckily have not missed a paycheck since 1984 so that helps alot
:D
Started an acquisition company and have been flipping and investing in multi family housing, real estate in my area is BOOMING once again, trying to build my little empire.......lol
If you are not saving a bare minimum of 10% of your net you are FUCKOED for life and most likely living beyond where you should be, all of the little extras most Americans feel they deserve or expect add up and kill them financially.
It's not what you make it is what you save:cool:
Nice little house in a nice neighborhood, nice cars not luxury yachts etc keep it real.
Most probably have a larger home and fancier cars than myself but I have zero debt and can do what I wish with no worries.
Cheers
 
ValeTudo8080

ValeTudo8080

VIP Member
Aug 31, 2011
621
351
I have a 401k that my work contributes to but as far as myself there is no time to save........i am spending too much now so trying to reel it in.

My family has some decent assets/ life insurance....... so i dont want to see any of them die but when they do i will have some cash flowing in as bad as that sounds.

Everything is so expensive in the windy city so you are getting raped every time you turn around on something
 
tommyguns2

tommyguns2

Senior Moderators
Staff Member
Dec 25, 2010
6,313
5,000
I max out my 401K (now that I'm 50, I'm even putting in the "catch up" contribution, LOL. I then try to invest at least another 10% into index mutual funds. (I have a total market index fund, an S&P 500 index fund, and a Int'l market index fund).

I try to dollar cost average my contributions into each of these funds evenly throughout the year. So I'm not trying to time the market.
 
OldManStrength

OldManStrength

VIP Member
Apr 8, 2015
1,282
508
On my second wife, and 5 kids, so not a whole lot i have to put away, but i do 10% to 401k, and 10% to roth.....I started this year, I'm also going to get back into my day trading, and just have 5000 in that acco untbto mess with, and try not to leave to much on the table, and try not to be greedy either...
 
kid666

kid666

VIP Member
Jan 28, 2011
1,935
1,330
I do 10% pre tax 401k and my wife does the same. She also gets stock dividends in the HCA company where she is an RN. Weve been doing it for last 25 years ... Have close to $250,000 @ the moment. Have another $60,000 in my kids college stock funds that can only be used for their schooling. Luckily both my kids are smart like their mother and scored high enough on there ACT tests where 100% of their college tuition is payed for so long as they choose a Florida school. So i just have to cover their dorms and food meal plans etc. Im closing in on 54 yrs old and will cease working @62 years old to the day and very second it comes. My wife wants to still work pool shifts at the hospital 1 or 2 days a week after she retires..At $600 a shift i tell her go right ahead.
 
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