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How much a month do you set aside for savings, etc?

How much a month do you set aside for savings, etc?

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by: Okiedokie Active Indicator LED Icon 11 OP 
~ 9 years ago   Sep 30, '14 6:29am  
Now that I got a raise and promotion, my DH wants to set aside half my paycheck each month for retirement/savings.  Is that the norm or should we do more/less?  I would guess it is about 25% of our total income. 4951
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mm4731 Active Indicator LED Icon 13
~ 9 years ago   Sep 30, '14 6:33am  
[ Removed By Request. ] 4951
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buffaloglenn Active Indicator LED Icon 11
~ 9 years ago   Sep 30, '14 6:44am  
Now that I got a raise and promotion, my DH wants to set aside half my paycheck each month for retirement/savings.  Is that the norm or should we do more/less?  I would guess it is about 25% of our total income.
 
@Okiedokie:
25% of total income sounds like a pretty good number to me, but I guess it depends partly on where you are in life (kids at home, kids in college, no kids, close to retirement etc.).  We have two kids at home and are saving about half of our total income right now.  We were saving less than that about five years ago, but have taken raises/promotion increases to savings directly.  Works for us. 4951
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bubbleyes72 Active Indicator LED Icon 18
~ 9 years ago   Sep 30, '14 7:09am  
Every two weeks $500.00 go into my savings account right off the back, I never miss it. I think your husband it right, if you all were getting by with what the two of you were making before the increase, might as well continue to live the same. Rule of thumb, just because you make more doesn't mean you should spend more. Every time you get an increase, give your savings/retirement an increase as well. 4951
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BooBear Active Indicator LED Icon 16
~ 9 years ago   Sep 30, '14 7:21am  
Now that I got a raise and promotion, my DH wants to set aside half my paycheck each month for retirement/savings.  Is that the norm or should we do more/less?  I would guess it is about 25% of our total income.
 
@Okiedokie:
 
Why are you guessing??? You should know! You need to work backwards..figure out what your goals are then determined what you need to do now to get there. You may need to put more or less in, it just depends. Always put as much as possible though.
 
If you can afford it without hurting retirement savings I would also have an emergency savings acct. One you could access if the car breaks down or the water heater explodes. That way life's daily emergencies dont hurt your future. 4951
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Stealth83 Active Indicator LED Icon 16
~ 9 years ago   Sep 30, '14 7:24am  
Removed By Request 4951
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FoFa Active Indicator LED Icon 17
~ 9 years ago   Sep 30, '14 8:48am  
12% 401K, 3% stock plan, $200 per pay period savings.Then usually about tax time if we have some extra laying around (with a DD in college, not to often now) we put some in our IRA 4951
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WskyTngoFxtrt Active Indicator LED Icon 10
~ 9 years ago   Sep 30, '14 8:52am  
After the hookers and porn there's nothing left. 4951
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BooBear Active Indicator LED Icon 16
~ 9 years ago   Sep 30, '14 8:56am  
After the hookers and porn there's nothing left.
 
@WskyTngoFxtrt:
 
You pay for porn? 4951
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WskyTngoFxtrt Active Indicator LED Icon 10
~ 9 years ago   Sep 30, '14 8:57am  

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>> After the hookers and porn there's nothing left.
 
@WskyTngoFxtrt:
 
You pay for porn?
 
@BooBear: 3D interactive porn when I can't leave the house. Plus it might have looked bad if I said hookers, booze & weed.
4951
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BooBear Active Indicator LED Icon 16
~ 9 years ago   Sep 30, '14 8:58am  

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>>
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>> After the hookers and porn there's nothing left.
 
@WskyTngoFxtrt:
 
You pay for porn?
 
@BooBear: 3D interactive porn when I can't leave the house.
 
@WskyTngoFxtrt:
 
Do you have the usb accessories and stuff? Can you show us you setup? Im always looking to upgrade. 4951
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foxymama Active Indicator LED Icon 14
~ 9 years ago   Sep 30, '14 8:59am  
There is 3D interactive porn? 4951
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BooBear Active Indicator LED Icon 16
~ 9 years ago   Sep 30, '14 9:03am  

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>>
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>> After the hookers and porn there's nothing left.
 
@WskyTngoFxtrt:
 
You pay for porn?
 
@BooBear: 3D interactive porn when I can't leave the house. Plus it might have looked bad if I said hookers, booze & weed.
 
@WskyTngoFxtrt:
 
So I googled 3D interactive porn...it was nice knowing all of yall but I now have something else to do. 4951
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WskyTngoFxtrt Active Indicator LED Icon 10
~ 9 years ago   Sep 30, '14 9:08am  
There is 3D interactive porn?
 
@foxymama: With a name like foxymama I'm surprised you don't already know.
4951
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foxymama Active Indicator LED Icon 14
~ 9 years ago   Sep 30, '14 10:55am  

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>>
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>>
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>> After the hookers and porn there's nothing left.
 
@WskyTngoFxtrt:
 
You pay for porn?
 
@BooBear: 3D interactive porn when I can't leave the house. Plus it might have looked bad if I said hookers, booze & weed.
 
@WskyTngoFxtrt:
 
So I googled 3D interactive porn...it was nice knowing all of yall but I now have something else to do.
 
@BooBear: I googled it too but it looks like its video games?  I am not a gamer.
4951
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foxymama Active Indicator LED Icon 14
~ 9 years ago   Sep 30, '14 11:01am  
We don't put enough in  savings in my opionion.  12% in 401K then $300-$400 month in savings. I would like to do 15-20% in 401K$5000 a year in a Roth IRA$1000 a month in savings 4951
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