What percentage of your income do you save?

[RIP - VTEnviro]

If you count the extra loan payments on my MBA loans, I save about 25% of my income.

I'm paying that as I go. Means one class at a time, and instead of 2 in the fall and 2 in the spring, I do one each in spring, summer, fall, and winter and basically get no break. But it's not quite the same rush as my engineering masters, and I don't owe a loan company a cent. I'll be halfway home after this summer term.

 

[mizzoueng]

I have 4% pre-tax going to my 401K, 6% w/ company match. I also have automatic withdrawls set up to put 17% (total) into savings. Any bonus I get at years end goes into savings as well.

Wifey puts about the same amount away as well, but she goes part time starting in August due to mini-mizzou2, so that number will be cut drastically.

 

[Dexman PE PMP]

My wife "says" she can't be a SAHM, but I want to be prepared just in case.
I would rather her work but in the end I don't think it will be my choice.

Surprising the amount that people are saving here.

I went nuts after the 3 months of maternity leave...the parttime SAHM was AMAZING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I needed some work to keep me sane, but then the 4 days home to spend with minisnick was great. Best of both worlds. Wish I could still work PT.

My wife works 3 days a week. She likes the balance of being able to hang out with the kiddos a couple days, but then can go converse with adults a couple too.

 

[navyasw02]

Currently saving a minimum of 27% directly into the Roth IRA and the regular investment account, but usually I save as much as 40% a month by putting leftover cash in a high yield savings account. Once my wife's student loans come due, we'll probably power pay that and get debt free in about 3 years.

 

[willsee]

I think my wife would like part time the best

She doesn't seem like she likes working full time and she doesn't like staying home full time

 

[RIP - VTEnviro]

My wife works 3 days a week. She likes the balance of being able to hang out with the kiddos a couple days, but then can go converse with adults a couple too.

Between at work and work at home, mine works about 70 hours a week. She has no use for ovaries.

 

[snickerd3]

those with IRAs are they stock/funds invested IRAs or just savings IRAs? We have been started looking into them and different banks invest the money differently. Just wondering if people had a preference for one over the other,.

 

[udpolo15]

I'm paying that as I go. Means one class at a time, and instead of 2 in the fall and 2 in the spring, I do one each in spring, summer, fall, and winter and basically get no break. But it's not quite the same rush as my engineering masters, and I don't owe a loan company a cent. I'll be halfway home after this summer term.

I would have liked to have done that, but not sure I would have lasted 5 years. I maxed out the Stafford loans and took no private loans. I am on track to pay them off in 3.5 years which really reduces the amount of interest I am going to pay at the end of the day.

 

[Ble_PE]

those with IRAs are they stock/funds invested IRAs or just savings IRAs? We have been started looking into them and different banks invest the money differently. Just wondering if people had a preference for one over the other,.

I have an account with Vanguard for our IRAs (hence they are stock/funds). They are typically regarded as the cheapest option for IRAs. I've also heard good things about T. Rowe Price.

 

[csb]

I'm at about 20% right now. We refinanced our mortgage and buckled down to pay it off in about 13 years, which is almost exactly the time that I can take the money I'm spending on a house and use it to send a kid to college. After that, I'm using that money to buy drugs to doubly pad the retirement account. Most raises go straight into savings that are electronically deposited, so I don't even think about the money being mine.

 

[chaosiscash]

those with IRAs are they stock/funds invested IRAs or just savings IRAs? We have been started looking into them and different banks invest the money differently. Just wondering if people had a preference for one over the other,.

Our IRA's are stock/funds. We have a financial advisor we've used since we started saving for retirement after we got married. I've been very happy with the performance of the funds he has helped us select, and from what I can tell, he doesn't really cost me that much (at least, not more than my time is worth to me to constantly watch and figure it all out myself). He also helps us select funds for our 401(k)'s.

 

[Road Guy]

we didnt save near as much when the kids wer ein day care, so when they all got into the government schools (that are not free- but come out of property taxes) we took the $$ we used to pay to daycare and upped what we do into our 401K's and such..

we only touch the money market for times like today, when the main floor AC unit went out, and I think that bill is going to be around $2700

 

[chaosiscash]

we only touch the money market for times like today, when the main floor AC unit went out, and I think that bill is going to be around $2700

hmy:

$2700? Split unit or packaged? If split, both the indoor and outdoor being replaced, or just the outdoor?

I may be willing to go the long way to SC this weekend and drop by and give you a quote.

 

[Dark Knight]

Rant opportunity....

Rant On...

We do not save a darn thing. Only one income, two college kids and a high school junior (to be a senior this Fall). Add a spending happy wife, that does not know the meaning of "Take it Easy", and there is the reason I went bald, with hypertension, and who knows what else.

Rant off...

 

[Road Guy]

we only touch the money market for times like today, when the main floor AC unit went out, and I think that bill is going to be around $2700

hmy:

$2700? Split unit or packaged? If split, both the indoor and outdoor being replaced, or just the outdoor?

I may be willing to go the long way to SC this weekend and drop by and give you a quote.

furnace stays but everything else goes (outdoor).. thats the lowest price I have gotten and I got three quotes believe it or not.. coil is being repalced also, not really sure what that is..

 

[snickerd3]

we only touch the money market for times like today, when the main floor AC unit went out, and I think that bill is going to be around $2700

hmy:

$2700? Split unit or packaged? If split, both the indoor and outdoor being replaced, or just the outdoor?

I may be willing to go the long way to SC this weekend and drop by and give you a quote.

furnace stays but everything else goes (outdoor).. thats the lowest price I have gotten and I got three quotes believe it or not.. coil is being repalced also, not really sure what that is..

our first summer in our current house the coil had to be replaced. It is a miniradiator looking thing that sits above the furnance. that was about a $700-800 replacement

 

[johnf]

10% into a retirement account, but 2 highschool tuitions and 1 college tuition and a wife into all things equestrian leaves a big fat goose egg into savings. But my wife works harder than me, min 40 hrs a week, just to keep the horses. Bonus - the children don't have time to stray, with all the horse related activities. So, just a small cushion for emergencies and a long, austere road ahead, till the kids are out of school. We keep telling ourselves, just six more years...just six more *@#$#@& years...

 

[Master slacker]

Hope to get house paid off before big tuition hits...

 

[chaosiscash]

we only touch the money market for times like today, when the main floor AC unit went out, and I think that bill is going to be around $2700

hmy:

$2700? Split unit or packaged? If split, both the indoor and outdoor being replaced, or just the outdoor?

I may be willing to go the long way to SC this weekend and drop by and give you a quote.

furnace stays but everything else goes (outdoor).. thats the lowest price I have gotten and I got three quotes believe it or not.. coil is being repalced also, not really sure what that is..

That's probably not a bad price, all things considered. I think the last time I replaced an outdoor unit (~3 ton) it cost me $800 for the unit. Add in the coil and consumables and you are probably at $1200 for parts. If you know somebody with a license that can hook you up and you can sweat copper pipe, it's actually a pretty easy job to do yourself. Of course, your timeline may not allow that, given how hot it is right now.

 

[csb]

It's always good to remind myself when it's negative 10 degrees in the winter that I won't need to pay for AC in the summer.