Not as much as I want.

ViralAg said:

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tandy miller said:

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HC said:

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I don't have a spouse, but right now I'm stashing away about 23k/month. I hope to up that to 60k/month in the next 2 years.

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So you're saving ~$275k/yr?

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He's lying.

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you speak the truth.

Are you including all investments for retirement? College savings as well?

Somewhere in the $2000 range.

Just from monthly pay, roughly 6-7K per month.

The majority of my annual pay occurs twice a year (bonus and vesting). If I normalized it per month, I save $25-$30K a month.

Monthly:
$3k to 401k
$1300 to bank savings
$550 to college savings
$500 to HSA

toolshed said:

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The average American family probably doesn't have $1000 in savings, period!

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This. I read that the average American family doesn't have enough savings to cover an unexpected $2k emergency. Paycheck to paycheck is how most people live here, regardless of income level. Plenty of people out there making good money that don't save a penny to go along with the ones that don't have much to begin with.

This has changed a lot over the years. Sometimes it's been none to very little (like right now), sometimes it's a healthy amount.

Currently, we put away about $500 a month into liquid savings. I say that's very little, but as discussed on this thread, it's probably still more than most. It's not much by our standards; daycare eats up all of most of our disposable income. In 3-4 years, we'll be back to saving/investing $15k-$20k a year in various forms, which is a healthy amount for our income/lifestyle.

My company contributes 15% of my salary to a retirement plan, with no contributions allowed by me, so I don't feel too bad for not contributing to a 401k or IRA like I always have.

$6 when i can find it.

Married, 2 kids. Stay at home mom for at least next 2-3 years.

401K maxed up to employer match which is $400 monthly for me, 100% match from them.

$458 to Roth IRA

$600 monthly self escrow for annual property taxes

$500 monthly set aside for summer vacation and Christmas (not really "savings", but saving for a known black hole of expenses )

That all is from my base salary. Additionally I shoot for 80% of my take home commissions to go straight into savings accounts of some sort, which of course varies from year to year.

$3500/mo

AustinCountyAg said:

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My wife tells me I'm a tight wad, but I see friends who I know save little to anything monthly.... I tell her the average American family prolly saves 1k a month?

Average texags family save 8k?

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the wife started a new job and i am starting my new job soon.
after that, i estimate we will save about $15k monthly (not counting tax)

after tax, it may be 12k-14k.

I don't have a spouse cuz women be shoppin'

Not enough

$100-$1000 I got a bunch of kids so not a lot left to play around with.

JayAggie said:

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$100-$1000 I got a bunch of kids so not a lot left to play around with.

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I figure having kids will save me money by killing my social life.

hypeiv said:

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~20% of income into short term savings, 401k, RothIRA and HSA

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This! Since graduation. It's amazing how many co-workers don't even do the minimum that the company matches..... it's free money.

ViralAg said:

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We save about $8k a month in cash. That's after 401ks, Roth IRAs, etc.

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Can you adopt me?

Bayside Tiger Ag said:

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I have some friends with law degrees and they are poor as ****

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This. I know several still living at home who can only hope for a government job or have very unsteady work. One of them just moved out of mom's basement. T&P for these folk.

We have three kids in daycare so jack sheet seems like the appropriate answer.

brotheraggie said:

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ViralAg said:

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We save about $8k a month in cash. That's after 401ks, Roth IRAs, etc.

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Can you adopt me?

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He's lying

Rusty GCS said:

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Why are so many of you stashing away so much cash while paying interest on loans?

Get a solid 3 months pay in savings, pay at least into your 401k to max out company match, and then pay off that debt (mortgage, cars, student loans, etc)

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It makes zero sense to pay off a sub 3% mortgage or sub 2% car loan when you choose to put that money in the market instead.

UndergroundAg said:

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Bayside Tiger Ag said:

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I have some friends with law degrees and they are poor as ****

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This. I know several still living at home who can only hope for a government job or have very unsteady work. One of them just moved out of mom's basement. T&P for these folk.

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It's a popular sentiment around here to hate on lawyers, talk about "worthless" law degrees, point out the supposedly crazy student loans, and have fun laughing at the poor lawyers you know.

The reality, however, is that the vast majority of lawyers have high incomes, relatively speaking. Out of everyone I know from my law school class, I honestly can't think of anybody who isn't making six figures now after being out for several years (other than a 2 or 3 who just really wanted to go into public service).

Granted, I don't consider $100,000 to be all that high of an income, but it is higher than most people, and it's enough to live comfortably on.

When I see people post about their lawyer friends who are living with their parents and barely scraping by, that doesn't even compute to me. You can come out of law school and EASILY start at $85k or $90k if you're even the least bit intelligent and halfway competent. And you can start out at double that if you're able to do the big firm thing like my wife and I did. The people who are living with their parents must be either complete idiots or just not trying at all. There are plenty of well-paying attorney positions out there.

jake2011 said:

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DRE06 said:

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Rusty GCS said:

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Why are so many of you stashing away so much cash while paying interest on loans?

Get a solid 3 months pay in savings, pay at least into your 401k to max out company match, and then pay off that debt (mortgage, cars, student loans, etc)

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It makes zero sense to pay off a sub 3% mortgage or sub 2% car loan when you choose to put that money in the market instead.

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No it doesn't. Paying off debt is a guaranteed return. No returns in the market are guaranteed and can be negative.

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You are looking at short term. Long term in a down economy (like one that gives SUV 3% mortgage rates ) you may lose now, but 401k and other investments are just at sale pricing.

What would a bankruptcy lawyer two or three years out of A&M school of law be making?

jake2011 said:

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DRE06 said:

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Rusty GCS said:

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Why are so many of you stashing away so much cash while paying interest on loans?

Get a solid 3 months pay in savings, pay at least into your 401k to max out company match, and then pay off that debt (mortgage, cars, student loans, etc)

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It makes zero sense to pay off a sub 3% mortgage or sub 2% car loan when you choose to put that money in the market instead.

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No it doesn't. Paying off debt is a guaranteed return. No returns in the market are guaranteed and can be negative.

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If you can't make 2-3% right now you have seriously bad luck.
My overall 1 year return is like 15%. I've made 50% on a few picks in 6 -8 months. No reason to be paying extra to 3.5% mortgage right now. Re-evaluate every few months.

And as said above, mortgage is 20-30 years. Your average return in market over that time period is going to be 6-7%.