what percent of your yearly take-home and pre-tax pay to you save and invest?
I save and invest about 63% of my take-home pay and then save/invest another 19% pre-tax gross salary if i am including company match.
thats cool
Save/invest ~40%. I used to try to save a lot more but my expenses are taking on a life of their own (I got married)…
So you save 19% in a 401k and 51% in a non-qualified plan? (If my math is correct, that’s 70%.)
So you essentially live on 30% of your total income?
yes. my yearly spending is about 25-30% of my gross income
That’s a good, solid amount. and hey, it’s good that you used to. As we all know, the earliest five years of one’s career are the most crucial in maximizing time for gains. So better you did it then than now imo. Plus,lt’s most important to establish frugal spending habits early on in life.It’s much harder to downsize spending if you start high
Vandelay,
You single, no kids? Either that or you make alot of coin?
Im in my first job out of school actually. not married, no kids. just a cheap, value-seeking, frugal guy.
IsThereAny,
Are you saying 40% of take-home pay or 40% of gross income?
In another thread didn’t you say you only made $19,000 a year?
No, I said I live off of that much
.
so which of your random resume lines did they like most?
After-taxes. Although to further clarify, I’m focusing on maxing Roth IRA’s before 401(k)'s since I expect my tax rate to go up in the future (not to mention the salary cap on Roth IRA). Obviously, the savings/investment rate would be higher if I focused on 401(k)'s.
If you’ve got your eyes set on financial independence before 55, you’ve got to be banking 40% gross IMO.
I was at this party once where some dude went up to each girl and started the exact same conversation. “Hi my name is XYZ. Let’s talk about animals. What’s your favorite animal? Mine are horses, specifically the Shagya Arabian. And by the way my family has a horse breeding ranch. I can take you some day if you like.”
No idea why I suddenly thought of that.
Yeah, something like that, i agree. http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
I feel like we’ve had this thread before.
Edit: found it. http://www.analystforum.com/forums/investments/91336032 Vandy started this one too.
do yall have a brokerage account in addition to roth and 401k?
Who doesn’t? I mean besides poor people and probably ~75% of the population.