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-   -   How much do you save? (http://www.cityprofile.com/forum/off-topic/how-much-do-you-save-2910/)

DustMan 09-24-2010 07:34 PM

How much do you save?
 
What percentage of each paycheck do you guys put into some form of savings account? I usually try for 20% and can usually pull it off and have some disposable income left.

Otahyoni 09-24-2010 07:59 PM

Not near as much as i should...

vindicated 09-24-2010 08:23 PM

15% into my Roth 401k, 200 into my savings, and 50 into my daughters savings. I am going to start a college fund for her shortly, probably be invested in a mutual fund. This is bi-weekly.

edh 09-24-2010 09:09 PM

If you are looking ahead to retirement, here's what it took me and my employer to get me there.
Average of about 8% out of my salary for 30yrs. This was matched by my employer.= about 16%. Present employee's are paying about 13% also matched by employer.
Another 5% or so for 45+ yrs for gvt pension plan.(Canada). Also matched by employer. = about 10%. All employed folk in Canada are paying about 9% now also matched by employer.
In addition I have a private retirement savings plan where contributions are tax deductible. This plan ends when I am 70 and I must start spending it by age 71.
My work pension is guaranteed for life. If I kick the bucket, wife gets 65% thereafter for life.

vindicated 09-24-2010 09:12 PM

Right. My employer couldn't afford to match anymore, so I had to step up my contributions. I have it invested in really aggressive stocks etc.

RiponredTJ 09-24-2010 09:34 PM

I'm working towards freedom 95 :eek:

DrMarneaus 09-24-2010 09:37 PM

I just put all my money in my mattress and withdraw as necessary, so I guess it's all savings?

edh 09-24-2010 09:38 PM

In addition, mtg paid off, car paid for and wk with buddies for toy money.

Otahyoni 09-25-2010 06:01 AM

I only owe money on my house. No other loans. Pay for everything with cash, and spend less than i make.


I really need to start investing heavily since i'm still young...

Motorcharge 09-25-2010 07:30 AM

Nothing in a savings for the time being. Current jobs just temporary and under the table so I'm saving all my cash to pickup another Jeep and get myself back in school to finish my Auto Tech AAS.


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