Those in the 6 Figure club, how do you distribute each paycheck?
- Thread starter Ahadi
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- 6 figure brehs
About 40% to savings and investments as of now. Bit of an anomalous year since I moved back to our family home when the pandemic hit (stack money/pay off debt, more space for WFH, needed to stay with my younger sisters etc).
When I get back to the office at the end of summer and move into my own apartment I’m targeting about 15% post tax income for savings and investments. Tryna do 20% but CoL is quite high.
Next year I’m really gunning for a proper 2nd steady source of income to fund my investments. I did a few free lance projects here and there but nothing steady.
When I get back to the office at the end of summer and move into my own apartment I’m targeting about 15% post tax income for savings and investments. Tryna do 20% but CoL is quite high.
Next year I’m really gunning for a proper 2nd steady source of income to fund my investments. I did a few free lance projects here and there but nothing steady.
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I'm only saving about 10% +/- 3% right now. I adjusted so I can pay off my car this year. When that's done I'll probably redirect that into the market like I should have been doing all along. My savings has been steady - which is good - but not growing, which is bad. I spend a significant amount on rent, which I need to address next year. I have some temporary monthly expenses that I need to cull.
15% goes to my 401k, 30% to investments 30% to house payments (including food) and the rest just sits in my account. I dont really buy a lot of things but if I want something ill buy it if inknow it won't hurt my pockets
Your Bills/Living expenses shouldn't surpass 50-60% of your monthly income. Of the remaining 40-50% I like to break it up into 8-10% intervals...
50% - Bills/Living expenses
10% - Savings
10% - Short Term investments
10% - Long Term investments
10% - Retirement
10% - Play money.
This amounts can vary per month, but that's the basic structure I use.
50% - Bills/Living expenses
10% - Savings
10% - Short Term investments
10% - Long Term investments
10% - Retirement
10% - Play money.
This amounts can vary per month, but that's the basic structure I use.
Secure Da Bag
Veteran
25% = Bills/Living expenses
13% = Loans
62% = shyt I recklessly put on my credit cards.
13% = Loans
62% = shyt I recklessly put on my credit cards.
10 - 12% savings
9% 401k
3 - 5% Health Savings Account
I will also save half of my bonuses when I receive them and part of my compensation includes stocks so I tend to just sell them and re invest so I know given my compensation I'm saving much more than the above 20 - 25% there. Probably closer to 40%
The rest I use on food, rent, bills, car note, etc.
My disposable income goes towards eating out, clothes, items here and there, some small entertainment though I don't go crazy with it. Even travel I don't do as much.
9% 401k
3 - 5% Health Savings Account
I will also save half of my bonuses when I receive them and part of my compensation includes stocks so I tend to just sell them and re invest so I know given my compensation I'm saving much more than the above 20 - 25% there. Probably closer to 40%
The rest I use on food, rent, bills, car note, etc.
My disposable income goes towards eating out, clothes, items here and there, some small entertainment though I don't go crazy with it. Even travel I don't do as much.
filial_piety
Banned
I save about 20-30% bi-weekly in a month that includes investments..about 50% goes into expenses, and roughly 10% in fun