Questions for the Group

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      1. What is your ideal percentage of earnings that you

      would put in into savings?

      RIA: Ideally, I would say 15%. I believe that’s the

      max that we are allowed to contribute to my company’s

      401K plan…and it seems like an ideal amount.

      2. Would you put the money into one place, or into

      different accounts (e.g. retirement/401K, college,

      emergency,etc.)

      RIA: Since our emergency fund is already fully

      stocked, I would say that of the 15%, 10% should be

      towards retirement and 5% should be towards my

      daughter’s future.

      3. What percentage or dollar amount do you save

      currently?

      RIA: I contribute 8% of my gross income to a 401K

      plan, and my company matches an additional 3% (total

      11%). My husband also contributes $30/week to a 401K

      plan. Both of us put $10 into a high interest savings

      account for my daughter’s future.

      4. If your answer to #1 doesn’t match your anser to

      #3, what (if anything) are you doing to make the

      answers closer?

      RIA: Well, at the moment, we’re doing nothing. We

      recently moved to a better neighborhood and are still

      trying to get a feel for our expenses. Also, I’ve

      fallen off the frugal bandwagon, so I haven’t been

      contributing to my savings other than the 401K. I

      used to put $100-$200 a week into a savings account.

      Not any more.

      — mommyto2zs <apokras@yahoo.com> wrote:

      > 1. What is your ideal percentage of earnings that

      > you would put in

      > into savings?

      >

      > 2. Would you put the money into one place, or into

      > different

      > accounts (e.g. retirement/401K, college, emergency,

      > etc.)?

      >

      > 3. What percentage or dollar amount do you save

      > currently?

      >

      > 4. If your answer to #1 doesn’t match your anser to

      > #3, what (if

      > anything) are you doing to make the answers closer?

      >

      > Since I asked, I will go first:

      >

      > 1) 15%.

      >

      > 2) 10% for retirement, 3% for college funds, and 2%

      > or more to

      > emergency fund.

      >

      > 3) We save 6% of DH’s salary every paycheck, matched

      > 100% by his

      > employer, to his 401K. We then save $100 a month

      > from my paycheck.

      > We earn about the same, though, so it is less than I

      > would like to

      > save. Overall, the 12% of his salary is about 6% of

      > our total

      > income. The $100 goes to our emergnecy fund.

      >

      > 4) Every month, I look at our budget and see what

      > needs adjusting.

      > Also, whenever we have a “surplus,” I either put

      > that money directly

      > into our emergency fund or put more toward

      > outstanding medical

      > bills. It is not consistent though, and I would love

      > to be putting

      > more like $300 into our emergency fund every month.

      >

      > Thanks in advance for answering!

      >

      > Amy

      >

      >

      >

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