Comments on: How Much Should I Save From Each Paycheck?

By: Erica

Erica — Sat, 30 Oct 2010 21:51:51 +0000

I think 10% is not enough to save if you want to retire at a reasonable age. Personally, I save 20% right now, and after student loans are paid off, I will push it to 25-30%. 10% will not get you very far. If you clear $2000 a month that is only $200 saved per month, which won’t get you anywhere fast. Also, remember it’s not how much you save in your bank account, its the money you put away in 401K’s, as well as pensions and Roth IRA’s. Invest your money wisely!

By: Edwin Ramos Junior

Edwin Ramos Junior — Mon, 09 Nov 2009 16:09:15 +0000

As Mr. Goldfinger stated, the trick is making your 10% work for you. Keeping your money in a .5% interest savings account won’t give you anything aside from mold on your saved money, and you don’t want your money doing nothing. One “safe” option is to look towards saving a certain amount, generally double the amount that you wish to invest (e.g., I want to invest $5,000 in stocks, save $10,000) By investing in low risk stocks which offer dividends, now you MAKE a quarterly amount with your saved money as opposed to just putting it in your piggy bank. You can even inject your newfound quarterly earnings right back into your savings account or into more investments. Try it once, and if you like it, repeat the process to earn more. For more info, google “Widow Portfolio”

By: Tanner Jacobson

Tanner Jacobson — Thu, 24 Sep 2009 17:36:10 +0000

I beleive 10 % is a little under what it should be, No one is gonna wanna save more than half, but saving only 10 % is too little, it needs to be about 25 to 35%, that way u save about one fourth or one third of ur money, its better to hav 3/4 of ur money to spend then almost all of it, that way ur not tempted to go take that other 10 % out and spend it.

By: MT

MT — Thu, 09 Apr 2009 06:31:50 +0000

i work retail. i dont make much but as of now to be honest, i do
have $4000.00 in savings and i only started Oct ’08. last week of
october. that is $8.00/ hr. and i love shopping too. but i do make
sure before i spend my hard earned money on stuff that i want i
already put a lot more that 10% on my savings account. i think it
depends on the person. you have to have set goals and make sure you
try your very best to achieve it.

By: Mr Goldfinger

Mr Goldfinger — Tue, 01 Jul 2008 12:21:44 +0000

Life take money. Have fun. The best way to get rich is save 10% and live on 90%. The Kicker is to get a high rate of return on your 10%. If you can become a better investor and get 12, 13, 15, 20% return a lower saving rate of 10% that will work just fine. Have you heard of Warren Buffett? His average is around 22%. That is why he is a Billionaire. Do what the rich do… And you too will get the same results. Learn more, too earn more! Learn to be a better investor. Learn to pay less in taxes. Learn, Learn, Learn.