i can't figure out if i am saving enough money! i have no basis for comparison. i have about 20 thousand dollars; how much do you have saved up?
2006-09-02 03:51:53 · 10 answers · asked by cari anna 2 in Business & Finance ➔ Personal Finance
That's awesome! When I was 21, I certainly didn't have that much cash, and I still don't! :) If you do have all of the money in a savings account, I would recommend contacting a financial advisor and looking at ways to invest some of your savings. It's never too early to plan for retirement, and the earlier you start, the more money you will have when it comes time to retire. Also, if the company you work for has a 401(k) and you're not enrolled in it, I would advise you do so. Typically employers offer a match of some sorts, and the money is taken out of your check pre-tax. It's almost like free money. IRAs are a good place to shelter some money as well.
2006-09-02 05:01:36 · answer #1 · answered by dlapasky 2 · 0⤊ 0⤋
If that $3000 isn't from the student loan then you are doing very good. I didn't have that much saved at your age. Most people I knew around that age didn't have that much saved up. Keep it up and pay your student loans on time.
2016-03-17 06:38:37 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Congratulations! You've got more money saved than most retirees...keep up the good work. If you'd like to expand the money that you have already do a google on "John Beck" for easy ways to make real estate work for you and go to www.tni.com/alternativemedicine for the next "big" thing under the radar. Kudos and good luck with that!
P.S. That's "alternativemedicine"
2006-09-02 04:00:13 · answer #3 · answered by the_ahriginal 2 · 0⤊ 0⤋
I'd say 20k is a good rainy day fund but it depends on how much your cost of living is. They say you should save about 6 months worth of living expenses.
My savings is no where near 20k, but I just put a large downpayment on a car and that pretty much tapped me out.
2006-09-02 07:17:41 · answer #4 · answered by Vadalia 4 · 0⤊ 0⤋
1
2017-02-15 07:27:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
damn girl, you got 20K already?? That is amazing. I had 0 savings and a ton of credit card debit at 21. Your doing fine.
2006-09-02 03:58:38 · answer #6 · answered by answer_man 2 · 0⤊ 0⤋
Good job its interesting isnt it how the media portrays everyone as having $100,00 and we can see from the answers its not the case keep on make more than you spend especially if you are a girl it will give you lots of choices you otherwise would not have
2006-09-02 04:12:19 · answer #7 · answered by riskytrades 1 · 0⤊ 0⤋
At 21, I was living paycheck to paycheck. Still am to a point
2006-09-02 03:57:12 · answer #8 · answered by pritigrl 4 · 0⤊ 0⤋
Sounds good to me, I quite sure you have way more that anybody at 21.
2006-09-02 04:01:53 · answer #9 · answered by Grandpa Shark 7 · 0⤊ 0⤋
you are doing just fine, in the mean time, learn how to invest properly,
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.
http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
http://www.streettalklive.com>... university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:
fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy
technical analysis==(chart+indicator)>> when to buy
Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live
At the age of 32. my 401k is amassed 73,000.00 and 30000.00 in taxble account. by follow simple rule
2006-09-02 04:30:20 · answer #10 · answered by Hoa N 6 · 0⤊ 0⤋