Most Americans Don’t Have Savings to Pay Unexpected Bill

[beenz]

another thing to consider.

when you contribute more money pre tax (for shyt like 401K and medical benefits, flexible spending etc), that lowers your taxable income, which means when it's tax time, they're gonna tax you based on your gross minus what you spent on the things I listed above which would lower your income tax exposure and the amount of taxes you will have to pay.

 

[HeavyTheDon]

It's kind of fukked up but articles like this make me feel better about my financial position. This year I have already saved $5300 and that's with me contributing 10% to my 401k. Between my house, 2 cars, credit cards, and student loan I only have about 90k worth of debt. I'm about to stop saving and go ahead and pay everything off within a year or two.

 

[GoGetMyDamnBelt_]

How old are you? Unless your 2 months away from retirement you shouldn't be in the G fund. It mirrors the performance of the 10 yr treasury. Avg. 1.8ish percent. Ur missing HUGE UPSIDES by not being in the s and c fund

I'm 21. My thing is, if I don't understand it, I don't play with it. I been trying to read up on what those other funds accounts are but just don't understand.

 

[GoGetMyDamnBelt_]

It's kind of fukked up but articles like this make me feel better about my financial position. This year I have already saved $5300 and that's with me contributing 10% to my 401k. Between my house, 2 cars, credit cards, and student loan I only have about 90k worth of debt. I'm about to stop saving and go ahead and pay everything off within a year or two.

Big props to you, hun


But what plays a big factor is the kind of income you bringing it, your yearly salary. Not everyone can do what you doing, I know I can't. I'm in a position where I'm considering having one of my cars get repossessed because it's costing me too much to keep up on it..

 

[Skooby]

I'm 21. My thing is, if I don't understand it, I don't play with it. I been trying to read up on what those other funds accounts are but just don't understand.

You can always put it in a lifecycle fund. The L-Funds self-allocate for you as you get closer to retirement.

Since you're only 21 I would choose the L2050 fund, which is made up of 84% stocks.

 

[Benjamin Sisko]

Of course the average Coli nikka doesnt have this problem.

 

[GoGetMyDamnBelt_]

You can always put it in a lifecycle fund. The L-Funds self-allocate for you as you get closer to retirement.

Since you're only 21 I would choose the L2050 fund, which is made up of 84% stocks.

I'll do some research on it. Thanks.

 

[Kuwka_Atcha_Ratcha]

Prolly 80 percent of Americans live paycheck to paycheck

yet when I said its better to live in England for financial reasons people tried to flame me. smh

 

[HeavyTheDon]

Big props to you, hun


But what plays a big factor is the kind of income you bringing it, your yearly salary. Not everyone can do what you doing, I know I can't. I'm in a position where I'm considering having one of my cars get repossessed because it's costing me too much to keep up on it..

My salaries are my only sources of income. I work two jobs and my wife is going to start working in July so at that point we are going to tag team this shyt and get it out of the way by this time next year hopefully.