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KC1984 · Feb 3rd, 2009, 08:01 AM

24, 7k in savings account. Not sure about Hubby we keep things seperate.

Zophie · Feb 3rd, 2009, 02:51 PM

Originally Posted by goodmornin

wow - I'm really impressed by everyone!

I'm 23 and my net worth is less than zero =( I thought I was the norm!

I got racked up with debt through college, moving, taking unpaid internships, and pure shopping... Apart from that I have about a couple thousand in savings overseas, a little more than $1k in my 401k and nearly 10k in emergency funds.

There was a guy who was part of the family that owned a business I worked for and his net worth was -$4 million. (Yes, NEGATIVE four million dollars!) And he was probably in his 60s. I only recently started saving for retirment since it took me a while to get to a position in my life where I could.

Odette · Feb 3rd, 2009, 05:55 PM

Age: 24
401k: $3500 ($6500 if you include company match which is not yet vested)
IRA: $550
savings: $4000

That's just me, DH has a lot more in retirement b/c he's been working longer. I might leave my job soon for another so I'm going to lose the company match, but will continue to save approximately 10%.

cyclgrl · Feb 4th, 2009, 01:46 AM

33

I have maxed out my 401K as long as I've worked (started IRA as well 5 years ago) so about $120K in retirement savings.

As for advice for people in their 20s, I would say that I've always paid myself first, and budgeted everything else after hitting my savings goals.

Cyn

Hoodster777 · Feb 5th, 2009, 10:17 PM

I pretty much have nothing saved, besides a few thousand in the stock market. My job has no 401k, and its barely above minimum wage, so I barely have anything saved... I'm looking to take a second job which should hopefully help, if I get it, I'll most likely have that check go into a savings account.

Kathrin · Feb 5th, 2009, 10:22 PM

26, not going well financially. My own fault.

I have 25K (AUD) in credit card debt. Have finally faced up to it. Aiming to pay it off by the time I'm 28 - September 2010.

Started the year with about 10.5K in the bank; but moved interstate and had 8 weeks without pay from changing jobs (still have to wait 2 weeks for my first pay day), so with moving and living expenses that has gone down to about 8K. Once I start getting my pay I will be putting most of that onto my credit cards.

Australia has compulsory superannuation (like 401Ks). Your employer has to put at least 9% of your salary into superannuation. I only have about $10K in superannuation at the moment.
Currently have

ilikebigbags · Feb 8th, 2009, 09:39 PM

I'm not surprised at all the super savings on this thread! this forum is all about luxury, but it is nice to see some more-so normal people. I wish I had it all together in my 20s like most of you though. My fiancé and I are trying to get there, but we still have two cars to pay off both around 19k ea. and a tiny bit of CC debt, the new job I got is paying it off extremely fast about 60% of it in four months, so we should be in good shape in no time. We'd really like to save, but we're both paying college out of pocket, working full time jobs, and neither of our parents planned for our futures at all. I am definitely saving up for my children's education, it can help so much.

oops - I'm 23! I didn't start working until a few years ago and am slowly going through college, better than some, worse than others, like with everything!

Lec8504 · Feb 8th, 2009, 11:07 PM

I'm 23

been working part-time for the last 2 years and still in college..probably for a long while since I hope to get an MBA.

I have 6k in a orange account that I don't touch ever.
I also have 15k put away for me until I am 25 by my parents- it's my future wedding present lol.

I currently have debt from my car...but I should get it paid off asap since I'm increasing my hours at work.

Dinky Fizzy · May 31st, 2009, 02:23 AM

I am 32 and my wife is 28. Together, we have a total of $233,000 saved in cash. We have zero debt. Of this, $53,000 is in our Roth IRAs and the remaining $180,000 is in a DollarSavingsDirect account earning 2% annually. We make a combined gross income of $90,000 per year and end up saving $4000 in cash per month (roughly $48,000 per year).

wisnowbird · May 31st, 2009, 10:30 AM

This is kind of a fun tool to put in your info & compare your financial info (savings/spending/debt) to others -
https://www.ingcompareme.com/home/?r...L=Public#/home

GnomeNisse · May 31st, 2009, 11:34 AM

I'm in the 35-45 age bracket. I have no intention of telling how much money I have but I'll tell you tactics.

Everytime we buy gold/silver/platinum, we take 10% of that and put it away to be deposited later into an account with a metals refinery. Literally, we fill a coffee can with bits of gold and then melt it down.

We have whole life insurance policies.

We have a vacation fund and we put XXX into it each month. By them time vacation comes, we always have it paid for including spending cash.

We save roughly 15% of our income each month into a plain old savings acct.

We have money markets that get XXX amount deposited each month.

We have stocks though our portfolio isn't going to blow anyone out of the water.

We have rIRA accounts that get XXX per month.

We keep aout 40-50% of all cash transacations in a bank safety deposit box as an emergency cash fun separate from savings.

We keep rare gold and silver coins (they do indeed count as sacvings) in another saftey deposit box. We add to that box every month or two.

Lastly, we have trusts for each child and 529s for each child. XXX per month is directly deposited there.

beljwl · May 31st, 2009, 01:31 PM

Old.... Investments and IRA's plus over a year worth of savings.

EmeraldStar · May 31st, 2009, 02:24 PM

I'm 23 and currently I'm working at a job that doesn't offer a 401K. I haven't even started thinking about saving for retirement.

I started working at age 19 but never really saved up. I started to seriously save at the beginning of this year and I have $4500 in a savings account at the moment. I intend to use these savings to pay off my future grad school loan.

401K and IRA will just have to wait until I get a real job.

ellewoods · May 31st, 2009, 11:03 PM

I'm 25, working for 8-9 months. I have $16,500 in savings right now. I'm not putting anything away in a retirement fund until I have at least $25K cash in savings as a cushion...

Necromancer · Jun 1st, 2009, 01:19 AM

I'm 48. I've been retired for nearly 4 years. My husband works freelance (basically works when he wants). He has a superannuation fund (retirement plan) which he can't access until he retires at 55 (I have no idea what it's worth at the moment, but it'd be quite a bit by the time he retires in a few years). We own three properties outright (no mortgages) and have no debt of any kind. We currently have just under $40K in a savings account. Hubby also owns shares in two companies, which don't make a fortune for him, but they do make a profit, which is better than nothing.

Feb 3rd, 2009, 05:55 PM	#48
Odette Member Joined: Aug 2007 Posts: 4,996	Age: 24 401k: $3500 ($6500 if you include company match which is not yet vested) IRA: $550 savings: $4000 That's just me, DH has a lot more in retirement b/c he's been working longer. I might leave my job soon for another so I'm going to lose the company match, but will continue to save approximately 10%.
Odette Member Joined: Aug 2007 Posts: 4,996	__________________

Feb 5th, 2009, 10:17 PM	#50
Hoodster777 Sectumsempra Joined: Jan 2006 Location: Staten Island, New York Posts: 965	I pretty much have nothing saved, besides a few thousand in the stock market. My job has no 401k, and its barely above minimum wage, so I barely have anything saved... I'm looking to take a second job which should hopefully help, if I get it, I'll most likely have that check go into a savings account.
	__________________ I went from Coach, to Tokidoki, to Marc by Marc Jacobs, to L.A.M.B. What's next?

Feb 5th, 2009, 10:22 PM	#51
Kathrin Member Joined: Oct 2006 Location: Sydney, Australia Posts: 499	26, not going well financially. My own fault. I have 25K (AUD) in credit card debt. Have finally faced up to it. Aiming to pay it off by the time I'm 28 - September 2010. Started the year with about 10.5K in the bank; but moved interstate and had 8 weeks without pay from changing jobs (still have to wait 2 weeks for my first pay day), so with moving and living expenses that has gone down to about 8K. Once I start getting my pay I will be putting most of that onto my credit cards. Australia has compulsory superannuation (like 401Ks). Your employer has to put at least 9% of your salary into superannuation. I only have about $10K in superannuation at the moment. Currently have
	__________________ Worry is like a rocking chair. It gives you plenty to do but doesn't get you anywhere.

Feb 8th, 2009, 09:39 PM	#52
ilikebigbags TEAM MATTIE Joined: Jun 2008 Location: North TX Posts: 321	I'm not surprised at all the super savings on this thread! this forum is all about luxury, but it is nice to see some more-so normal people. I wish I had it all together in my 20s like most of you though. My fiancé and I are trying to get there, but we still have two cars to pay off both around 19k ea. and a tiny bit of CC debt, the new job I got is paying it off extremely fast about 60% of it in four months, so we should be in good shape in no time. We'd really like to save, but we're both paying college out of pocket, working full time jobs, and neither of our parents planned for our futures at all. I am definitely saving up for my children's education, it can help so much. oops - I'm 23! I didn't start working until a few years ago and am slowly going through college, better than some, worse than others, like with everything!
	__________________ ......oh my gosh {Preferisco liberato che da una bestia dominato } ..FINALLY MY MATINEE HAS COME WOOOHOOO! Last edited by ilikebigbags; Feb 8th, 2009 at 09:41 PM. Reason: age edit

Feb 8th, 2009, 11:07 PM	#53
Lec8504 Member Joined: Nov 2006 Location: Bay Area Posts: 2,725	I'm 23 been working part-time for the last 2 years and still in college..probably for a long while since I hope to get an MBA. I have 6k in a orange account that I don't touch ever. I also have 15k put away for me until I am 25 by my parents- it's my future wedding present lol. I currently have debt from my car...but I should get it paid off asap since I'm increasing my hours at work.
	__________________ Bag Lust List: Chanel black lambskin classic flap, white Jumbo caviar Flap (pre-ordered!), 2.55 Bronze Tote, 2.55 Large Mat Black Reissue Flap (mine!), pink caviar Classic Flap (mine!), Jumbo in another color TBD... Other Lust List: CL VPs in blue acid + impero beige + pink python and nude patent, CL glitter something, HL strawberry ombre/coral ressort 09 dress + blue Aveline, LV pink Sprouse scarf, SWORD leather jacket (ordered!). NO MORE bags until after my Japan trip (April 2010)

Feb 3rd, 2009, 08:01 AM	#46
KC1984 Member Joined: Mar 2008 Location: In my own little World Posts: 967	24, 7k in savings account. Not sure about Hubby we keep things seperate.

Feb 4th, 2009, 01:46 AM	#49
cyclgrl Member Joined: Jan 2006 Location: San Francisco Posts: 97	33 I have maxed out my 401K as long as I've worked (started IRA as well 5 years ago) so about $120K in retirement savings. As for advice for people in their 20s, I would say that I've always paid myself first, and budgeted everything else after hitting my savings goals. Cyn

May 31st, 2009, 02:23 AM	#54
Dinky Fizzy Member Joined: May 2009 Posts: 1	I am 32 and my wife is 28. Together, we have a total of $233,000 saved in cash. We have zero debt. Of this, $53,000 is in our Roth IRAs and the remaining $180,000 is in a DollarSavingsDirect account earning 2% annually. We make a combined gross income of $90,000 per year and end up saving $4000 in cash per month (roughly $48,000 per year).
Dinky Fizzy Member Joined: May 2009 Posts: 1

May 31st, 2009, 10:30 AM	#55
wisnowbird Member Joined: Mar 2008 Location: New York, NY Posts: 66	This is kind of a fun tool to put in your info & compare your financial info (savings/spending/debt) to others - https://www.ingcompareme.com/home/?r...L=Public#/home
	__________________

May 31st, 2009, 11:34 AM	#56
GnomeNisse Resident Gnome Joined: Dec 2008 Location: under the toadstool Posts: 815	I'm in the 35-45 age bracket. I have no intention of telling how much money I have but I'll tell you tactics. Everytime we buy gold/silver/platinum, we take 10% of that and put it away to be deposited later into an account with a metals refinery. Literally, we fill a coffee can with bits of gold and then melt it down. We have whole life insurance policies. We have a vacation fund and we put XXX into it each month. By them time vacation comes, we always have it paid for including spending cash. We save roughly 15% of our income each month into a plain old savings acct. We have money markets that get XXX amount deposited each month. We have stocks though our portfolio isn't going to blow anyone out of the water. We have rIRA accounts that get XXX per month. We keep aout 40-50% of all cash transacations in a bank safety deposit box as an emergency cash fun separate from savings. We keep rare gold and silver coins (they do indeed count as sacvings) in another saftey deposit box. We add to that box every month or two. Lastly, we have trusts for each child and 529s for each child. XXX per month is directly deposited there.
	__________________ "The most courageous act is still to think for yourself. Aloud." - Coco Chanel My own two cents... http://confessionsoffauxbeautyqueen.blogspot.com/

May 31st, 2009, 01:31 PM	#57
beljwl Springsteen Fan!!!! Joined: Nov 2006 Location: Walking distance to Rodeo Drive Posts: 21,017	Old.... Investments and IRA's plus over a year worth of savings.
	__________________ ATTN SoCal MEMBERS: FOR AN EVITE TO THE NEXT SoCal TPF MEET PM ME YOUR EMAIL ADDRESS.

May 31st, 2009, 02:24 PM	#58
EmeraldStar Member Joined: Apr 2006 Location: San Diego Posts: 564	I'm 23 and currently I'm working at a job that doesn't offer a 401K. I haven't even started thinking about saving for retirement. I started working at age 19 but never really saved up. I started to seriously save at the beginning of this year and I have $4500 in a savings account at the moment. I intend to use these savings to pay off my future grad school loan. 401K and IRA will just have to wait until I get a real job.
	__________________ Someday: *LV Suhali Le Radieux in Verone*

May 31st, 2009, 11:03 PM	#59
ellewoods Member Joined: Sep 2006 Location: NYC Posts: 1,189	I'm 25, working for 8-9 months. I have $16,500 in savings right now. I'm not putting anything away in a retirement fund until I have at least $25K cash in savings as a cushion...

Jun 1st, 2009, 01:19 AM	#60
Necromancer Member Joined: Sep 2008 Location: Sydney, Australia Posts: 3,469	I'm 48. I've been retired for nearly 4 years. My husband works freelance (basically works when he wants). He has a superannuation fund (retirement plan) which he can't access until he retires at 55 (I have no idea what it's worth at the moment, but it'd be quite a bit by the time he retires in a few years). We own three properties outright (no mortgages) and have no debt of any kind. We currently have just under $40K in a savings account. Hubby also owns shares in two companies, which don't make a fortune for him, but they do make a profit, which is better than nothing.

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