2007-09-13 07:06:37 · 9 answers · asked by rosap3228 1 in Business & Finance ➔ Personal Finance
Hahaha..... Most people probably do actually have savings.
I have only what's in my wallet and I'm 31. I would say $22 and some change is what I hvae. I live paycheck to paycheck and that isn't even enough to cover the bills let alone save. Wish I could...but 4 kids cost.
2007-09-13 07:24:16 · answer #1 · answered by Kitten916 2 · 0⤊ 1⤋
They should only have a rainy day fund in a true savings account. This should be anywhere from 2 to 6 months of income depending on how much liquidity you want there. True savings for retirement should be in one or more investment vehicles including a 401k, IRA, or other money market type account. It is going to grow there faster than in a savings account.
2007-09-13 07:15:07 · answer #2 · answered by Jay P 7 · 3⤊ 0⤋
It should be an amount relative to your income and expenses. The above is correct regarding an "emergency fund". You should start with a fund that has 2 weeks worth of expenses and work you way up to 6 months. This is only for emergencies. After that, save for your retirement in a 401k, IRA, buy things with cash and avoid credit card debt, and invest the rest.
2007-09-13 10:34:12 · answer #3 · answered by docjulius 2 · 1⤊ 0⤋
hi, First, i will start up via asserting that individually i don't see something incorrect with "living with your mom and father at 30", as long as you're helping them at this hard cases with out taking finished benefit . If a woman can not comprehend this, then perhaps you're observing the incorrect crowd. Now whilst it is composed of listening to "no interest" everyone could be a splash freaked out. I mean how ought to you even think of roughly coming up a relatives with the guy you adore, once you are able to not even grant for your self. the shown fact which you decrease back to expert college is sizeable, yet who stated you won't be able to paintings whilst doing so. i think of you may desire to start up searching for a activity in spite of the fact that it is probably not the single of your targets yet. solid success with your learn and don't concern the girl will come once you least anticipate her!
2016-12-16 19:11:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Enough to cover 3-6 months expenses for you and any dependents you may have. This should be money that you don't touch except for in the case of true emergencies.
2007-09-13 07:15:57 · answer #5 · answered by Stephanie C 5 · 0⤊ 0⤋
As much as you possibly can put there!
A GIANT Nestegg is "Always" a great thing to have!
When you have enough to live on for three months if your job is secure and six months if not put a downpayment on a fixer upper house with the extra money as soon as you can!
When you do this ask me for more advice and I will be happy to give this to you!
No one is going to look out for your future other than you!
2007-09-13 07:26:08 · answer #6 · answered by jazzpaging 5 · 1⤊ 0⤋
It probably depends on when you started the account and how much you put in it. I am around your age, and currently have over $10,000 in mine. We just started it a few years ago, and usually try to put our income tax check each year into that instead of blowing it on other stuff.
2007-09-13 07:18:31 · answer #7 · answered by dmwp 3 · 2⤊ 0⤋
Enough to cover approx. 3 months worth of expenses.
2007-09-13 07:14:22 · answer #8 · answered by OP-lo 3 · 1⤊ 0⤋
appox 30k. However, it depend on how much income u earn and did you contribute to your 401K? You need to save at least 800-1k a mth and abou 10k a year until you are 30. I said this because you might start working when you are 26 and by the time you turn 30 you must have at least 30k.
2007-09-13 08:29:45 · answer #9 · answered by Vina D 1 · 2⤊ 5⤋