Comments on: How Much Should I Save From Each Paycheck? http://www.mmhabits.com/how-much-should-i-save-from-each-paycheck/ To Achieve... To Succeeed... Fri, 12 Mar 2010 17:35:19 -0600 http://wordpress.org/?v=2.9.2 hourly 1 By: Edwin Ramos Junior http://www.mmhabits.com/how-much-should-i-save-from-each-paycheck/comment-page-1/#comment-15582 Edwin Ramos Junior Mon, 09 Nov 2009 16:09:15 +0000 http://www.mmhabits.com/?p=240#comment-15582 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" 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 http://www.mmhabits.com/how-much-should-i-save-from-each-paycheck/comment-page-1/#comment-15468 Tanner Jacobson Thu, 24 Sep 2009 17:36:10 +0000 http://www.mmhabits.com/?p=240#comment-15468 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. 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 http://www.mmhabits.com/how-much-should-i-save-from-each-paycheck/comment-page-1/#comment-13569 MT Thu, 09 Apr 2009 06:31:50 +0000 http://www.mmhabits.com/?p=240#comment-13569 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. 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 http://www.mmhabits.com/how-much-should-i-save-from-each-paycheck/comment-page-1/#comment-1720 Mr Goldfinger Tue, 01 Jul 2008 12:21:44 +0000 http://www.mmhabits.com/?p=240#comment-1720 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. 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.

]]> By: zeromoney http://www.mmhabits.com/how-much-should-i-save-from-each-paycheck/comment-page-1/#comment-1665 zeromoney Fri, 27 Jun 2008 17:49:20 +0000 http://www.mmhabits.com/?p=240#comment-1665 10% is almost peanuts.. it's great if you start when you're 16 or 18, but if you're in your late 20's early 30's 10% wont' get you very far, unless you plan on working until you're 70. I strive to save about 25% right now, and even then I don't feel it's cutting it sometimes. Mind you I don't want to be working once I turn 50. 10% is almost peanuts.. it’s great if you start when you’re 16 or 18, but if you’re in your late 20’s early 30’s 10% wont’ get you very far, unless you plan on working until you’re 70.

I strive to save about 25% right now, and even then I don’t feel it’s cutting it sometimes. Mind you I don’t want to be working once I turn 50.

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