Khane
Got something right about marriage
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How much income is enough?
- Thread starter Swagdaddy
- Start date
Vinen
God is dead
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Credit for an emergency.... Wow.
Wife and I need to re-evaluate ours based on changes in our life situation (kid). We just have 20K in ours... Prob should double or triple it.
I have cash, I just don't have $100k sitting around.
We keep around 10% of our annual salary combined in savings.
Which for us
Vinen
is that paltry $20k you think isn't enough. In my wallet though is probably $75k worth of open credit available at any moment.
I paid cash $10k for my cancer treatment and I just bought a house and paid $20k down on that. I think I have done just fine in savings. A lot of my friends though try to keep a years salary in savings, screw that.
Soygen
The Dirty Dozen For the Price of One
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Same shit I spend it on now. Traveling, food, video games. I don't plan on being an invalid once I retire.
Responding to brutul saying 20s money spent was likely a waste.
My point is saving all this money and not "wasting" it in your 20s compared to saving it and wasting 6x as much in your 60s when you may be dead and or not give a fuck is not as straightforward as the numbers.
Vinen probably keeps his money to maximize condescension.
"Oh you're invested in a fortune 3 company? that's cute but i stick to the fortune 2"
"Oh you're invested in a fortune 3 company? that's cute but i stick to the fortune 2"
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Chanur
Shit Posting Professional
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I think enjoying your money when you are young and healthy enough to do so is well worth it. Particularly if you are one of those must travel assholes. Why travel when your old ass can't go anywhere?
I traveled a lot around the US and some countries on my employers dime. First in the service and now with my current company. I enjoy travel and right now would love to do more if I didn't have to work. When I'm 65+ or what ever? My old ass isn't suddenly going to start a jet set life style.
I want to retire with enough money I don't have to worry about shit if I don't die 2 years after retiring. I figure 500k-1million should be enough assuming you have no large debt.
I traveled a lot around the US and some countries on my employers dime. First in the service and now with my current company. I enjoy travel and right now would love to do more if I didn't have to work. When I'm 65+ or what ever? My old ass isn't suddenly going to start a jet set life style.
I want to retire with enough money I don't have to worry about shit if I don't die 2 years after retiring. I figure 500k-1million should be enough assuming you have no large debt.
Asshat wormie
2023 Asshat Award Winner
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There is no way I am crawling through cities, castles, museums, parks and monuments for 14 hours a day when I am 65. Leaving traveling for when one is old is robbing yourself of amazing experiences. However if ones idea of a vacation is to veg out on a beach all day then go ahead and wait.
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Gravel
Mr. Poopybutthole
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I actually somewhat agree with a_skeleton_03 regarding credit for emergencies.
Emergency funds are great for people with nothing saved at all. This is, currently, the area where my wife and I are finally getting around to changing. We have a little over $200k in retirement accounts and like $30k in "cash." This year we're just going to open a taxable account that we can tap for larger or long term emergencies. Otherwise credit should be fine for anything within 30 days while we figure out where to draw from.
If it's really an "emergency" though, we've got massive amounts of money we could theoretically access with a penalty. So that's kind of why I came to the conclusion that emergency funds are really good only for those at the beginning of their savings journey. After a few years it's way less important.
Emergency funds are great for people with nothing saved at all. This is, currently, the area where my wife and I are finally getting around to changing. We have a little over $200k in retirement accounts and like $30k in "cash." This year we're just going to open a taxable account that we can tap for larger or long term emergencies. Otherwise credit should be fine for anything within 30 days while we figure out where to draw from.
If it's really an "emergency" though, we've got massive amounts of money we could theoretically access with a penalty. So that's kind of why I came to the conclusion that emergency funds are really good only for those at the beginning of their savings journey. After a few years it's way less important.
Soygen
The Dirty Dozen For the Price of One
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I love how everyone is already planning on being crippled and useless at 65. I guess it makes sense when half the forum is morbidly obese in their prime.
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Most 60+ people i know just want to hang around the house and usually schedule things so they're not out past about 7pm. They really don't seem to care about retiring either.
It seems pretty cheap.
It seems pretty cheap.
Noodleface
A Mod Real Quick
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When I'm 65 I just want to gold 4 days a week. The other 3 are for MMOs
Nothing wrong with a big line of credit for emergencies, it's better than not. Of course cash is better.
Nothing wrong with a big line of credit for emergencies, it's better than not. Of course cash is better.
Noodleface
A Mod Real Quick
- 37,961
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When I'm 65 I just want to gold 4 days a week. The other 3 are for MMOs
Nothing wrong with a big line of credit for emergencies, it's better than not. Of course cash is better.
Nothing wrong with a big line of credit for emergencies, it's better than not. Of course cash is better.