How Much Do You Save?

[Japher]

^I'm with SixTYOM here. Most goes to debt.

I put about $600 into retirement. I have $25,000 in a 401k, $2,500 in an IRA that hasn't been funded in years, $12,000 in an investment accoun, $30,000 in my house. Not too bad, seeing as I'm 32 yo.

I plan on getting my debt cleared in about a year, then I'll put about 10k in a savings account, and then up my 401k contributions to 15% of my yearly. That'll take about 3-4 years to get to though.

[Drogue]

Originally posted by Dauphin
In context of LS that's fine, just be wary about saying 'only' to people who may not be as financially capable as you. You may find such comments a bit of a faux pas outside of the circles you are used to.

Or in the ones I'm used to - with girlfriend being a clinical medic, I'm very much used to being the under-qualified/overpaid one Aside from how it may seem, almost all my friends are going into government/charity/NGO type stuff, so aside from a couple of exceptions, none of them are earning much.

But as I explained, in context what I said is very different from just a general thing of "I only get X amount". A rich person could easily say "I was saving for a gorgeous 5 bedroomed house, but I'm only earning X amount so it'll be tough", and it would make sense, when it wouldn't really without the only. If you take that word out of the sentance I wrote, it doesn't really make as much sense, to me. It was never an only in a general sense, just for the purposes I stated it wasn't enough.

Originally posted by Doddler
Is Drogue an upperclass twit?

No, I'm state-school-educated and get means-tested fee remission

[Solly]

ie, retired parents and shunted to a state college at 16

[Cort Haus]

I've just lost £30,000 of savings by getting screwed up the chain on a property deal. At least, that's what it'll cost extra to get an equivalent place now after 6 months of rampant property inflation while waiting on a place only to get dumped on. I don't know how many years of scrimping that took, but it was a lot a sacrifice. All gone down the drain thanks to some greedy pirate.

Now I can't sleep. All I can do is drink and hope I'll eventually lose consciousness. Sorry to moan, it's just the way it is.

[Solly]

Originally posted by Cort Haus
I've just lost £30,000 of savings by getting screwed up the chain on a property deal. At least, that's what it'll cost extra to get an equivalent place now after 6 months of rampant property inflation while waiting on a place only to get dumped on. I don't know how many years of scrimping that took, but it was a lot a sacrifice. All gone down the drain thanks to some greedy pirate.

Now I can't sleep. All I can do is drink and hope I'll eventually lose consciousness. Sorry to moan, it's just the way it is.

Start a drinking thread.

And save some for in two weeks when interest rates rise, hopefully by 0.5%, and have a drink on them all squirming to try and find the extra money.

Fingers crossed for another letter to the chancellor from the BoE as well.

[LordShiva]

Sorry to hear that.

[Flubber]

Originally posted by Cort Haus
I've just lost £30,000 of savings by getting screwed up the chain on a property deal. At least, that's what it'll cost extra to get an equivalent place now after 6 months of rampant property inflation while waiting on a place only to get dumped on. I don't know how many years of scrimping that took, but it was a lot a sacrifice. All gone down the drain thanks to some greedy pirate.

Now I can't sleep. All I can do is drink and hope I'll eventually lose consciousness. Sorry to moan, it's just the way it is.

THat sucks !!
Did you not have a contract ??


Here, when people build a place, its key that their price is fixed. When buying an existing place, once you have a signed agreement in place, it is super tough for the seller to walk. Did you just have someone lead you on but have no paper??

[VetLegion]

Saving nothing at the moment.

[VetLegion]

Cort Haus, that sucks indeed.

[Spiffor]

Originally posted by Cort Haus
I've just lost £30,000 of savings by getting screwed up the chain on a property deal. At least, that's what it'll cost extra to get an equivalent place now after 6 months of rampant property inflation while waiting on a place only to get dumped on. I don't know how many years of scrimping that took, but it was a lot a sacrifice. All gone down the drain thanks to some greedy pirate.

Now I can't sleep. All I can do is drink and hope I'll eventually lose consciousness. Sorry to moan, it's just the way it is.

Sorry to hear that

[Ben Kenobi]

About 500 dollars tucked away for a rainy day, plus a bit extra in my bank account. I don't have any debts at the moment.

[Krill]

Sorry to hear that Cort. Hope you manage to start looking again soon though.

[Dauphin]

Originally posted by Drogue

Or in the ones I'm used to - with girlfriend being a clinical medic, I'm very much used to being the under-qualified/overpaid one Aside from how it may seem, almost all my friends are going into government/charity/NGO type stuff, so aside from a couple of exceptions, none of them are earning much.

But as I explained, in context what I said is very different from just a general thing of "I only get X amount". A rich person could easily say "I was saving for a gorgeous 5 bedroomed house, but I'm only earning X amount so it'll be tough", and it would make sense, when it wouldn't really without the only. If you take that word out of the sentance I wrote, it doesn't really make as much sense, to me. It was never an only in a general sense, just for the purposes I stated it wasn't enough.

I don't really remember having this conversation last night, I was actually quite tanked up and evidently in an alcohol fueled righteous indignation mood.

[Dauphin]

Originally posted by Flubber


THat sucks !!
Did you not have a contract ??


Here, when people build a place, its key that their price is fixed. When buying an existing place, once you have a signed agreement in place, it is super tough for the seller to walk. Did you just have someone lead you on but have no paper??

As an interesting aside, under English law the sale is not requisite until 'exchange of contracts' and a deposit is paid, the completion then happens at a later date. Under Scottish law, you offer and you are compelled to buy/sell if accepted.

[Arrian]

I could probably come up with a %, but it's about to change because our expenses are due to go up considerably soon. Still, I expect that we will still put away 12-15% of our salaries into our 401(k)s and also save some of our take-home pay. Exactly how much depends on what the new expenses end up being, which right now I can only really guesstimate. Hopefully 20% of take-home. Maybe more if we decide we want to have a kid.

...

Cort, man, I'm sorry. That situation sounds really ****ty. I don't really understand how it happened, no doubt because things differ between here and there, but regardless I hope somehow things work out ok for you.

-Arrian