How much ~ do you save a month?
03-03-2017, 03:30 PM
#81
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Actually thinking about it more, since my post in 2015, I'm saving 6% pretax on my payroll for my works 401K. 6% maximizes the 3% match my company offers.
03-03-2017, 05:07 PM
#82
Team Owner
03-03-2017, 07:35 PM
#83
Safety Car
But essentially my two investor heroes are: Jack Bogle (Vanguard) and Warren Buffett.
To boil it down, my investment philosophy is something like this: https://www.bogleheads.org/wiki/Lazy_portfolios
And to copy and paste from William Bernstein, which I think he speaks a LOT of truth:
15%+ will be even better if you can muster it. Done. Enjoy retirement.
source: https://www.etf.com/docs/IfYouCan.pdf
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Jakes_tl (03-06-2017)
03-04-2017, 02:41 AM
#84
Senior Moderator
My novice advice is to put in as much as your employer is willing to match into a Roth IRA. When I started, that was 6% with my employer matching 3% (or half of whatever I contribute up to 3%). I believe they have upped that to 4.5%, so I'm putting in 9% now. My employer contributions are tradition IRA though.
If you have kids or are about to start a family, health savings accounts and flexible spending/dependent care accounts are huge. I personally pay in as much income tax as possible (my W-2 says single with no dependents) and get 10-15% back in my refund essentially creating a pseudo-savings account. I realize I do not have emergency access nor any interest (not that I would get any otherwise), but my life is currently too hectic to manage a complex portfolio, and I have zero temptation to spend it since I can't.
If you have kids or are about to start a family, health savings accounts and flexible spending/dependent care accounts are huge. I personally pay in as much income tax as possible (my W-2 says single with no dependents) and get 10-15% back in my refund essentially creating a pseudo-savings account. I realize I do not have emergency access nor any interest (not that I would get any otherwise), but my life is currently too hectic to manage a complex portfolio, and I have zero temptation to spend it since I can't.
03-06-2017, 07:50 AM
#86
Azine Jabroni
I've had a Roth IRA since I was 22. That money is just ridiculous and has grown a bunch in 7 short years. After I got married, I crossed the threshold where I can no longer contribute to it without some trickery, but I like what nist7 posted. The key is to fill a (preferably ROTH) 401k to achieve whatever your company match is, then move the rest to a Roth IRA. That worked for me as a single guy. Once I married someone who makes a lot more money than I do, things got pretty complicated.
03-06-2017, 09:12 AM
#88
Team Owner
saving is for suckers. spend every dime you got and live like there's no tomorrow! 
03-06-2017, 09:13 AM
#89
Team Owner
03-06-2017, 09:55 AM
#90
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TacoBello (03-06-2017)
03-06-2017, 05:32 PM
#91
Team Owner
A wife and kids could have been replaced by a Lambo and whores. 
03-06-2017, 05:46 PM
#92
Team Owner
Why do you think I don't have kids? I've got a wife, so no need for whores, but the Lambo on the other hand...
03-06-2017, 05:54 PM
#93
Team Owner
I was just thinking about my own situation. 
Well, time sure does fly, and good news for all is that if you are focused you can get sh*t done! I've managed to pay off my mortgage about 9 months ago!!!
03-07-2017, 09:59 AM
#95
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03-08-2017, 08:15 AM
#97
Senior Moderator
Rule #1 in 'investing': always always max out employer matching. You're literally leaving money on the table if not doing so.
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oo7spy (03-08-2017)
03-08-2017, 08:44 AM
#100
Senior Moderator
Originally Posted by KaMLuNg
screw all you guys that get free money... my employer doesn't match... consider you guys lucky!!!
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oo7spy (03-08-2017)
03-08-2017, 09:49 AM
#102
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03-08-2017, 11:11 AM
#104
Safety Car
I've had a Roth IRA since I was 22. That money is just ridiculous and has grown a bunch in 7 short years. After I got married, I crossed the threshold where I can no longer contribute to it without some trickery, but I like what nist7 posted. The key is to fill a (preferably ROTH) 401k to achieve whatever your company match is, then move the rest to a Roth IRA. That worked for me as a single guy. Once I married someone who makes a lot more money than I do, things got pretty complicated.
Also if you make more than the income limit...you can always do Backdoor Roth IRA.
Looking them up, their expense ratios seems VERY high. Close to 1% range.
- 37 (52%) have delivered a NEGATIVE alpha, which means that they have underperformed their respective benchmarks since inception
- 34 (48%) have delivered a POSTIVE alpha, which means that they have outperformed their respective benchmarks since inception
- 1 (1.4%) has delivered a POSITIVE alpha at the 95% CONFIDENCE LEVEL, which means that it has outperformed their respective benchmark consistently enough since inception that we have 95% confidence that it will persist in the future and is not merely based on random outcomes
Not very attractive funds imo...
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nist7 (03-08-2017)
03-08-2017, 03:31 PM
#107
Safety Car
That's bad ass. It's always great to pay yourself first (savings, 401k, IRA, etc.), then pay required expenses (food, house, utilities, etc.), then get the luxury/fun stuff with what's left over!
I'm not very good so far (just about 10%) but I'll definitely be upping that number very soon.
A healthy 30-40% savings rate would go long way towards a nice and early retirement
I'm not very good so far (just about 10%) but I'll definitely be upping that number very soon.
A healthy 30-40% savings rate would go long way towards a nice and early retirement
03-09-2017, 05:51 AM
#108
Team Owner
03-09-2017, 08:35 AM
#110
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I currently have 12% going into a 401k and then used to have another 4-8% as expenses allowed just going into savings. This has taken a large hit this year on the variable savings part so far but the amount for my 401k has stayed the same. I also have a 4% lump sum pension building at work that next year jumps to 7%.
I do need to start streamlining my expenses and track things more accurately through this year so I can find other places I can save from.
I do need to start streamlining my expenses and track things more accurately through this year so I can find other places I can save from.
03-09-2017, 09:26 AM
#112
Senior Moderator
Originally Posted by KaMLuNg
FYI - the Vagon isn't a form of savings... 
03-09-2017, 10:29 AM
#113
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That is why I said this years savings has taken a big hit including pulling from past savings because of the Vagon issues. One of the reasons I choose to put so much into my 401k straight away before I even get my paycheck so I know I am saving things that I can't even touch.
03-09-2017, 10:29 AM
#114
Senior Moderator
The emotional returns boost morale and productivity. Smiles per mile. 
03-09-2017, 10:30 AM
#115
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03-09-2017, 10:33 AM
#116
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03-10-2017, 09:54 AM
#117
for those of you struggling to save... read the below...
http://www.collaborativefund.com/blo...to-save-money/
CLIFFS:
" one of the most powerful ways to increase your savings isn’t to raise your income, but your humility. "
http://www.collaborativefund.com/blo...to-save-money/
CLIFFS:
" one of the most powerful ways to increase your savings isn’t to raise your income, but your humility. "
03-15-2017, 03:20 PM
#118
I get 6% matched plus a 2.5% lump sum of my annual salary so you could say 8.5% is matched. I put in 7% myself, which puts me at 14.5%, but I want to up it after my next promotion to hit the IRS annual limit.
My mortgage is only 25% of my post-tax take home pay (after the girlfriend's contribution), I don't have any debt outside of the mortgage, and the girlfriend covers all food expenses so I'm able to save a pretty decent amount each month.
My mortgage is only 25% of my post-tax take home pay (after the girlfriend's contribution), I don't have any debt outside of the mortgage, and the girlfriend covers all food expenses so I'm able to save a pretty decent amount each month.
03-30-2017, 11:24 AM
#119
Moderator Alumnus
do I care what I do/have.
I mean if someone does/buys something and likes it, then that's all well and good, but It's not going to change
my spending habits in any form.
03-30-2017, 02:21 PM
#120
I can tell you that I save a bunch of money by simply not giving a **** what other people do/have, nor
do I care what I do/have.
I mean if someone does/buys something and likes it, then that's all well and good, but It's not going to change
my spending habits in any form.
do I care what I do/have.
I mean if someone does/buys something and likes it, then that's all well and good, but It's not going to change
my spending habits in any form.