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How much do you have in savings
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less than $1,00018 Votes - [14.4%]
1k-2k9 Votes - [7.2%]
2k-5k15 Votes - [12%]
5k-10k16 Votes - [12.8%]
10k-20k17 Votes - [13.6%]
20-40k15 Votes - [12%]
40-80k21 Votes - [16.8%]
80-100k1 Votes - [0.8%]
more than 100k3 Votes - [2.4%]
more than 200k10 Votes - [8%]

2012-01-23 10:08 PM
in reply to: #4006087

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Expert
1139
100010025
Austin
Subject: RE: How much do you have in savings
I have less in savings than my bike is worth. However, I've only been in the full time work force for 12 months. Most of my paychecks have been paying off credit card debt from college (which will be down to zero by the end of the month!) so the savings should get a pretty substantial bump throughout 2012.

Edited by F1longhorn 2012-01-23 10:09 PM


2012-01-24 7:00 AM
in reply to: #4006087

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Expert
1194
1000100252525
Subject: RE: How much do you have in savings
Maybe we should redistribute some $ from the higher savings accounts to the lower level accounts!?! Just say'n
2012-01-24 7:28 AM
in reply to: #4006629

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Champion
7347
5000200010010010025
SRQ, FL
Subject: RE: How much do you have in savings
Gaarryy - 2012-01-23 4:27 PM

TriRSquared - 2012-01-23 12:37 PM I question the $200k+ response.  If you've got that much in "savings" you're doing a really poor job at making your money work for you

 or they define savings differently than you do.

As we've already pointed out...

2012-01-24 8:49 AM
in reply to: #4007489

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Champion
8540
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the colony texas
Subject: RE: How much do you have in savings
TriRSquared - 2012-01-24 7:28 AM
Gaarryy - 2012-01-23 4:27 PM

TriRSquared - 2012-01-23 12:37 PM I question the $200k+ response.  If you've got that much in "savings" you're doing a really poor job at making your money work for you

 or they define savings differently than you do.

As we've already pointed out...

Really     

Just replied to where you posted.   While I'm sure that many others were going to call you out, I didn't feel like reading through, then go back to quote ya.  Just not worth the time.

Even if something has a penalty attached to it,  If you can get it, it still your money in savings. You just don't count the penalty as part of your net worth.   Then again I used to travel to mexico city quite often so my opinion of emergency savings/net worth was the amount you could get in 24 hrs to pay the ransom.  

2012-01-24 10:04 AM
in reply to: #4006087

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Veteran
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100100100100
Subject: RE: How much do you have in savings

Although it probably doesn't fall under the exact category of "liquid" either, I'm basically banking on our Roth IRAs for any emergencies. Contributions can be withdrawn at any time without paying additional tax (since there was no tax deduction to begin with) and at least the money has a chance to grow (or lose value) in mutual funds. So, although we basically have "0" savings at least we do have some sort of safety net in addition to retirement funds.

Building an "emergency fund" has been on my mind more lately, but it just doesn't seem like a priority when we have other debt that could be paid off with the money. At this point our "ability to work" is really out biggest asset.

2012-01-24 11:02 AM
in reply to: #4006087

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Science Nerd
28760
50005000500050005000200010005001001002525
Redwood City, California
Subject: RE: How much do you have in savings
Currently have about $2k.  It was more, but my maternity leave is unpaid, and we feel that me being home with our daughter is a good use of savings.


2012-01-24 1:20 PM
in reply to: #4006087

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Master
1681
1000500100252525
Rural Ontario
Subject: RE: How much do you have in savings

I've Got Rhythm (Ella Fitzgerald)

Days can be sunny with never a sigh
Don't need what money can buy
Birds in the trees sing their dayful of songs
Why shouldn't we sing along?
I'm chipper all the day
Happy with my life
How do I get that way?
Look at what I've got:

I got rhythm, I got music, I got my man
Who could ask for anything more?
I've got daisies in green pastures
I've got my man
Who could ask for anything more?

Old man trouble I don't mind him
You won't find him 'round my door
I've got starlight
I've got sweet dreams
I've got my man
Who could ask for anything more?

Old man trouble, I don't mind him
You won't find him 'round my door
I've got starlight
I've got sweet dreams
I've got my man
Who could ask for anything more?

Oh, I've got rhythm
I've got music
I've got daisies in green pastures
I've got starlight
I've got sweet dreams
I've got my man
Who could ask for anything more?

I've got rhythm, I've got rhythm ...

2012-01-24 3:59 PM
in reply to: #4006087

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Pro
4277
20002000100100252525
Parker, CO
Subject: RE: How much do you have in savings
wow...11 responses where they have more than 200K in emergency savings!  That is a lot of money to have in a savings account that actually does not keep up with inflation.  I would never do that...that is unless my net worth was much more than what it currently is.  I want my money working for me.  Just curious with those that have that kind of an emergency fund if it is "saved money" or "inherited money"?
2012-01-24 4:26 PM
in reply to: #4008782

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Resident Curmudgeon
25290
50005000500050005000100100252525
The Road Back
Gold member
Subject: RE: How much do you have in savings
rayd - 2012-01-24 3:59 PMwow...11 responses where they have more than 200K in emergency savings!  That is a lot of money to have in a savings account that actually does not keep up with inflation.  I would never do that...that is unless my net worth was much more than what it currently is.  I want my money working for me.  Just curious with those that have that kind of an emergency fund if it is "saved money" or "inherited money"?
Read the whole thread. Several have commented on the definition of savings. Yours apparently differs from theirs and the op's, who asks about a "rainy day fund" outside of retirement accounts, not limited to "emergency savings." I consider my "savings" to be what I have in brokerage accounts outside of IRAs and 401Ks, funds I could liquidate and blow tomorrow if the desire struck me. Those are in cash, fixed income and equity securities that earn more (on average) than inflation.
2012-01-24 5:08 PM
in reply to: #4008847

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Pro
4277
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Parker, CO
Subject: RE: How much do you have in savings

the bear - 2012-01-24 3:26 PM
rayd - 2012-01-24 3:59 PMwow...11 responses where they have more than 200K in emergency savings!  That is a lot of money to have in a savings account that actually does not keep up with inflation.  I would never do that...that is unless my net worth was much more than what it currently is.  I want my money working for me.  Just curious with those that have that kind of an emergency fund if it is "saved money" or "inherited money"?
Read the whole thread. Several have commented on the definition of savings. Yours apparently differs from theirs and the op's, who asks about a "rainy day fund" outside of retirement accounts, not limited to "emergency savings." I consider my "savings" to be what I have in brokerage accounts outside of IRAs and 401Ks, funds I could liquidate and blow tomorrow if the desire struck me. Those are in cash, fixed income and equity securities that earn more (on average) than inflation.

understood.  my question was based on what the OP asked.  But yea, COJ seldom follows the original post.  And I'm guilty as charged.

2012-01-24 6:23 PM
in reply to: #4008782

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Champion
8540
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the colony texas
Subject: RE: How much do you have in savings

rayd - 2012-01-24 3:59 PM wow...11 responses where they have more than 200K in emergency savings!  That is a lot of money to have in a savings account that actually does not keep up with inflation.  I would never do that...that is unless my net worth was much more than what it currently is.  I want my money working for me.  Just curious with those that have that kind of an emergency fund if it is "saved money" or "inherited money"?

 

my emergencies are quite pricey



2012-01-24 9:11 PM
in reply to: #4006129

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Pro
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Subject: RE: How much do you have in savings

TriRSquared - 2012-01-23 12:37 PM I question the $200k+ response.  If you've got that much in "savings" you're doing a really poor job at making your money work for you

Agreed. Saving? Why?

2012-01-24 9:58 PM
in reply to: #4006087

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Extreme Veteran
3177
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Subject: RE: How much do you have in savings
we depleted our rainy day fund last fall with our house purchase and some expectedly unexpected costs associated with that. however we have built it back up to more than 2k already and only touch it when needed (which we will have to do again shortly thanks to some trees on our property which are dead and need professionally removed without killing our house) still we put 10-20% of every paycheck into saving each month without fail.
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