2007-12-11 15:12:02 · 6 answers · asked by gman3015 1 in Business & Finance ➔ Personal Finance
Savings should be just the money you might need in an emergency 6 months expenses at the most.
Investments should be around least 3 years wages, if you have been putting 10% away for the last 20 years it should be starting to add up nicely.
2007-12-11 15:36:12 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
The general rule of thumb is anyone should have 3 months worth of wages in savings. With kids, generally jump up to 6-9 months.
2007-12-11 23:15:45 · answer #2 · answered by jakeunited 1 · 2⤊ 0⤋
In just a regular savings account, you should have enough money to live on for 3 months. As far as 401K and college funds, I have no idea.
2007-12-11 23:15:43 · answer #3 · answered by Love My Hubby - Hate His Mom 6 · 2⤊ 0⤋
I try to put 20 percent of my earnings in savings.
2007-12-11 23:21:36 · answer #4 · answered by cmotis28 2 · 0⤊ 1⤋
about 3 months of income saved up.....
so looking at that you have 5 kids..were talking
6,000-7,000 dollars...
few people can do that anymore unless the high middle class
or rich...
2007-12-11 23:21:08 · answer #5 · answered by Anonymous · 1⤊ 1⤋
6 months of your combined household income
2007-12-11 23:15:42 · answer #6 · answered by rhgizmo 4 · 1⤊ 0⤋