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So how much % of your salary are you guys saving/investing ? Am fresh out from being a student to being a salaried employee, and am getting to know that money can also be used to generate more money i guess? Stocks, bitcoin, mutual funds, provident funds, ... Am hearing a whole lot of words , those Twitter guys use.

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  • 2
    When I started working, I needed a new car quite badly. The previous one was starting to cost more than fix all the time. I saved about 50% of my intern salary for deposit.

    Once I bought a car, I was saving 10% to plain old savings account and the rest of my disposable I made extra car payments with. The logic being that no invest could yield the same interest I was paying on the car.

    Now, recommended is that your savings, investments, pension and so forth should be about 30% of your paycheck
  • 3
    📌

    I only started work a couple of months ago so I wouldn't take what I say as advice, but right now I'm planning on saving just under 2/3rds of my salary. Since I don't see the need to increase my standard of living nor do I have any major expenses, I calculated how much I already spent as a student, plus some wiggle room and boom there's my budget.
  • 5
    I invest in my companies and direct investment. I prefer to not be part of the cancer eating the asshole of the world.
  • 1
    Beyond the company pension, then I'm investing 8% monthly
  • 3
    If you're in the US, and your company does a 401k with a match, do that. Pick a mutual fund, and put as much as you can comfortably put in there at that point.

    Otherwise, get a financial adviser / do some reading on your own.

    I highly advise against getting all but the most basic advice on the internet. Way too many idiots out there who will tell you to do stupid shit because this one time it paid off ...

    In the .com days I knew a guy who amassed over $3 million in company stock after he aggressively just bought company stock (at a discount).... and held it.

    I told him he should absolutely sell at least 1/2 of that and put it somewhere safe... he didn't.

    In the course of 18 months it was reduced to less than he had put into it.... way way way less than a million...

    At the same time I was stupid lucky myself, put all my money in some super cautious investments .. .came out ahead in a down economy. I was the idiot... until I wasn't.
  • 1
    I invest a shitload to gofundme. I love my job, the money is just coincidence so... I invest in good karma
  • 0
  • 5
    40%, sometimes more.
    On great opportunities, 70%.

    I very much don’t recommend this for most people, though.
  • 1
    @sudo-woodo sounds a bit like me. But I do not save a lot these days anymore. Thing is - you don't know how long life is. Getting hit by a bus with a lot of unspend money is actually my biggest nightmare. Imagine driving years in a crappy car while saving for a nice Mercedes and never had it because getting hit by bus 😂
  • 2
    @rooter

    I guess the answer there is buy a bus and drive that, since how many buses are hit by another. :-)
  • 0
    Today was my yearly budget day to plan for the year ahead, so for me I'm saving in 2021:

    86%

    I hear advice wise, not to invest more than 10% of your total investment pot into any one thing, in case its a bust..

    Also, consider investing in physical items, like metal ingots, some have gone up hugely in price the last decade, and you can keep them in your safe. :-)

    Some are a bit hazardous, so be careful with them !
  • 2
    Note, all the rich folk I know, all own land / property, and rent it out to other folk.
  • 1
    @Nanos Nice but quite expensive
  • 2
    @Nanos

    Can confirm. You do have to deal with the serfs, and they get ideas sometimes...
  • 1
    @N00bPancakes

    A friend of mine just employed certain strong armed serfs to deal with the other serfs..

    They said it was very cost effective.
  • 1
    @Nanos damn, you're smart 😂 A Mercedes Vito. A bus is cheaper than a normal car so I don't have to save for years! Thanks dude
  • 0
    Around 66%
  • 0
    @Root why don't you recommend this?
  • 1
    20% savings 20% investments. Earnings from investments is rolled over.
    Also have a coin bank just because I want the feeling to someday smash it and count the coins and bills inside. *insert pirate laugh*
  • 0
    I started saving 75% with my first job (4K take home and lived on 1k in UP of Michigan). I’ve have always saved 50%+. I keep my expenses really really low.
    - 6 months cash for emergency fund
    - 401k up to employer match
    - Roth IRA
    - 401k (if you are in high marginal tax bracket)
    - Invest in low cost total market funds like VTI / VTSAX (whole US economy, NOT individual stocks).
    - at 50% savings rate you’ll be financially independent in 16 years

    For more info see ChooseFI.com and https://mrmoneymustache.com/2012/...
  • 0
    @natescode I started investing mainly in my own small business (sold food grade 55 gallon barrels) and real estate. Later got into lots of other things.
    Now I just do stock.

    I’m planning of building a 4 plex to live in. Just keep it simple is the key.
  • 0
    Thanks people. About these long term schemes like 401k and nra, how do taxes work on them? And for the Indian people, i am guessing epf and ppf are the equivalent for this scheme?
  • 1
    @iiii Because most people can’t live on the remainder.
  • 0
    @yowhatthefuck

    It depends on the type of 401k or etc.

    Some are not taxed up front, but taxed later, others are taxed up front and not later....but that plays into actual year to year taxes as far as how that plays out.

    I highly suggest buying a book or something.
  • 0
    20% investment, not including the pension, 10% mortgage payment. 10% savings
  • 0
    I try to save 30% of what I make a month which then is split between my "just in case cash", retirement investment account with dividend stocks, crypto on celsius and currency mostly $.
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