How much of your income do you save?

Google / Ops MmSsBa
Jul 6 27 Comments

Just curious what costs me to be financially responsible. Do you save at all? If so, what % of your income goes to savings?

Edit: I'm in the south bay.

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TOP 27 Comments
  • Facebook public2
    100% or more ideally while you are young.
    Jul 6 11
    • Daimler cj7
      Also of note: this was in Seattle, not the bay 😂
      Jul 6
    • Facebook public2
      Yep, I said that. Did the same when I moved to the bay and earned even more. The point was it can be done outside the bay and even easier in the bay.
      Jul 6
    • Google / Ops MmSsBa
      OP
      That's some crazy story. I really respect that.
      Jul 6
    • Paychex ljsa
      @Facebook wanna hangout? I feel you’ve a lot to learn from!
      Jul 6
    • Facebook public2
      That's all I got to teach, work hard, have fun, make a lot of friends. Work hard young so you don't have to work hard later.
      Jul 6
  • Intuit getpaged
    I’d say I save about 50-70% after taxes.

    6% to 401k (I used to do 15% until I realized there are better retirement vehicles out there)
    15% max ESPP
    40% monthly auto investments (temporary holdings, SDIRAs, securities or real estate)
    Jul 6 7
    • Microsoft quack236
      Commercial or residential?
      Jul 6
    • Intuit getpaged
      Commercial. Residential won’t scale (unless that’s not what you’re looking for)
      Jul 6
    • Databricks / Data
      data4u

      Databricks Data

      PRE
      500 Startups
      data4umore
      Dude that’s a lot of money
      Jul 6
    • Apple xUEdsjT
      Interesting idea, but wouldn't the 401k tax deductions be more beneficial? And you could still do both.
      Jul 6
    • Intuit getpaged
      401k tax deductions are a plus, but over several decades you are solely relying on asset appreciation.

      With real estate, you not only have tax advantages (especially with 1031), but positive cash flow as well as underlying property appreciation.

      On top of that, what most 401ks typically buy are derivatives - funds and ETFs. With real estate, you have direct ownership into the property.
      Jul 6
  • New / Ops
    fNow87

    New Ops

    PRE
    IBM
    fNow87more
    Where is negative percentage?
    Jul 6 1
    • New / Other
      DuQvV7y

      New Other

      BIO
      Did stuff. Hustled hard. Retired
      DuQvV7ymore
      IKR. I want the option of spending more than I make!
      Jul 7
  • Amazon PunjabiK
    Create a poll ?
    Jul 6 1
    • Google / Ops MmSsBa
      OP
      Great idea!
      Jul 6
  • Amazon PunjabiK
    Where is 40-50%
    Jul 6 2
    • Google / Ops MmSsBa
      OP
      Lol my bad.
      Jul 6
    • Google / Ops MmSsBa
      OP
      Seems like I cannot edit the poll. Ugh. Sorry my saturday brain decided to go on a strike
      Jul 6