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12487752 No.12487752 [Reply] [Original]

How money should I be saving per week? I’m adding about $650 into my savings every week. Is this good? What is the average someone deposits into their savings per week?

>> No.12487775

>>12487752
$0

>> No.12487778

I save about $2,000 per month, after bills.

>> No.12487782

$0. Savings accounts are scams.

>> No.12487785

>>12487775
Really? I’ve asked people irl and they always say they are broke or in debt. Some people I’ve asked only as a few thousand in the bank. I only know a handful of people with over $50,000 in the bank. I wanted to ask on here, because irl people get embarrassed and take it as an insult.

>> No.12487795

>>12487782
I invest my money, but I’m trying to say how much actual money does the average person add to his/her wealth per week/month, whether it’s in savings or assets?

>> No.12487796

$650 saved x 52 weeks in a year= $33,800

After your bills are paid you still save more than the entire median income of this country. I'd say you're doing great, if you don't live in LA/NY

>> No.12487803

To clarify, thats if you're living on your own. If you pick the responsible route, find a wife and seed a family, you should be saving double what you save now.

>> No.12487804

>>12487782
You're right. Build bond ladders on Treasury Direct. Transfer to Charles Schwab and sell your bonds for money to buy stocks or emergencies.

The best savings account will give you maybe 2.2%. 6 month T-bill give 2.5% and you don't have to pay state/local taxes.

>> No.12487806

>>12487752
I was lucky to save $400 a month at my last job.

>> No.12487817

>>12487796
Ok well that’s just cash. I keep bills min, and only spend cash on work or investments almost never for pleasure. Most people buy things, so what would be the average net worth gained per year? For example i rent an apartment which isn’t an asset.

>> No.12487831

>>12487803
I’m making money exponentially, so by the time that happens I shouldn’t have a problem.

>> No.12487834

>>12487806
Was that because of low wages or bills? I don’t have very many bills, so it’s hard for me to grasp where others stand financially.

>> No.12487841

>>12487804
Interesting, I’ll look into that. It can’t hurt to diversify.

>> No.12487856

>>12487752
depends on your retirement goals. tons of online retirement calculators to figure out the math.

>> No.12487867

>>12487796
Also it’s more like $20,000~ I have to spend money periodically for my job and sometimes I like to reward myself.

>> No.12487884

>>12487841
T-Bills can be superior to savings accounts. Not only is the rate better, but your funds can't be frozen and there's less counter party risk. I remember reading stories of cucks having trouble pulling funds from their money market accounts in 2008-09.

The only reason savings accounts exist is to profit from goyim. If you use a proper bond ladder, you have more liquidity and better returns.

>> No.12487885

>>12487856
Thanks i found a calculator that averaged people’s net worth by age. I just wanted to know where I stood amongst my peers.

>> No.12487928

>>12487885
the average is pretty bad. most people are financially illiterate.
>>12487841
https://www.bogleheads.org/wiki/Bogleheads%C2%AE_investing_start-up_kit
buy ETFs. but depending on how hands on you want to be with your investments there are a growing number of financial products that take a lot of the guesswork out of the process for a fee (~0.2-3%)

>> No.12487948

>>12487928
The calculators are wrong. It’s saying the average net worth of an 18-24 yo is almost 100k which I know for a fact is bullshit.

>> No.12487959

>>12487948
I have no idea what tool you're using but retirement calculators should only be telling you how long/much you should save to retire and how long that money will last based on how fast you spend it.
http://www.fourpercentrule.com/
is the last one I used but it looks broken right now.

if you have any other questions ask them quick because I'm going to bed.

>> No.12487976

>>12487959
I just checked a website that said the average for a person in their 20s is either negative or less than 10k. And the average of a person in their 30s is 30k-80k. Is this correct? It seems to be the most reasonable. I know I’m richer than most my friends my age and even most people several years older than me.

>> No.12488014

>>12487976
>Is this correct?
I haven't read the numbers lately but that doesn't sound off. the majority of people live paycheck to paycheck.
either way you shouldn't be comparing yourself to others, make your own life plans and goals and plan accordingly.

>> No.12488026

>>12488014
I usually don’t compare myself with others, but a coworker asked me for advice, and while talking with him I realized I was really out of touch with the average guy.

>> No.12488031

why save when you could spend your money on drugs in the dark net desu

>> No.12488036

>>12488031
I’ve wasted the last 2 years blowing everything on strippers and hookers. It’s time to get my shit together, could have had a lot of money by now if I wasn’t being childish.

>> No.12488037

Instead of saving a fixed amount every month I have just kept 6 months of salary in savings for a while now. Anytime my salary goes up I save a bit more. Once I have 6 months saved I can invest the rest.

>> No.12488054

>>12488037
I routinely invest my savings, and Its not a fixed amount, I try to save as much as possible. Sometimes it’s less and times it’s more $650 is just an average.

>> No.12488248

If you’re looking for ballpark 2 percent. Why are people not suggesting a money market account which hits almost 3%?

>> No.12488273

I make 400k a year I try to save 50% or more. When I was single I could save 65%. I basically try to save 100k a year. I get fucked w taxes. Now I have a GF and that costs more so I think I save 80-90k a year. Once there is a kid I’m fucked again I’m sure. So basically yes many many people can put away a ton of $. Don’t be stupid and compare to losers ok. My boys w dual income can stash away 200k a year and make interest. We’re all 34-36yo.

>> No.12488379

>>12488273
That’s what I estimated, the averages are fucked, because so many people live pay check to pay check, meanwhile some guys are putting away 100k a year.

>> No.12488390

>>12487804

Holy fuck no, most saving accounts pay 0.001% interest these days