How do you think you are doing?

[lrjohnson]

Re: How do you think you are doing?

I'm pretty sure we're saving enough, but I don't know about the whole investment thing.

This is where I am. I am doing exceedingly well at savings-48% of my gross income goes to savings and retirement. But I am just not at all together with investing; I've made such small progress in this area.

[greedy4chips]

Re: How do you think you are doing?

34savings,

Lots of fund managers can't even do 10% right now so don't worry. The 10% is just the average return for any 10 year period in the last 70 yrs. The market will move once again. I just looked at it over the last 3 yrs as a sale!

[Roupey03]

Re: How do you think you are doing?

Being 21 and in college I consider myself doing well seeing that I have 5k in the bank. But there is always the desire to get more.

[Dido]

Re: How do you think you are doing?

Well, I think I'm doing a lot better in terms of my financial savvyness. I know a lot more about money and investing, and I've managed to save 10% of my income/year for the past several years in retirement savings, and I managed (thanks to the gift of downpayment money from my mother) to buy a house this year, so in terms of my net worth, I'm satisfied. I still do struggle with a tendency to throw money at solving problems--when I get worried about something, the tendency is to hire someone else with expertise to try to solve it. I spend more than I'd like and consequently don't save enough, but I'm working on and making progress here. I've been living off of my savings for 3 months now and still have another month to do before a paycheck comes in; this has been a good lesson in cutting back on spending, and it has really taught me that net worth is not everything; if one doesn't have enough liquidity in one's accounts, one can really get into trouble with cash flow. Thank goodness for my mother making me a short-term loan to get me through the next month! (I have both a full time and a part time job starting in a month, so that should help the cash flow problems in fairly short order, but I'm cutting back on adding to retirement savings until I have much more of an emergency fund built up.

[Snoopy2645]

Re: How do you think you are doing?

We are doing ok working hard to pay off my house getting a few small debts cleared up here & thier my dh & I both got better jobs recently hoping we can both start saving tons more I would love to buy a bigger nicer house 1 more time & then be content with it. I would like 1 toy 1 time in my life like say a boat maybe next year that will happen. Other than that I couldnt ask for a better life!! So many of our friends our losing everything & have already hit rock bottom because they spent like thier was no end in sight I am thankful I never did!!!

[Diolla]

Re: How do you think you are doing?

After 18mo I have paid off all my debt, good thing too cause child support is ending soon. I did a new budget cut down to the bone and am hoping things get better. I am a little disappointed that my extra each month for saving has dwindled to $200 but it is better than some people I know.

I think I am having a pity party today, tomorrow will be better.

[veronak]

Re: How do you think you are doing?

Greedy, I like you! I have wanted to have a lot of money since I was a kid. I wanted to have a room just filled with dollars bills, so I could go inside and wallow in the money!!!

Ima I read this and laughed out loud because I feel the same way

[veronak]

Re: How do you think you are doing?

After 18mo I have paid off all my debt, . I am a little disappointed that my extra each month for saving has dwindled to $200 but it is better than some people I know.

How much did you pay off? And I think $200.00 is a lot better than some, keep your head up

[Diolla]

Re: How do you think you are doing?

How much did you pay off? And I think $200.00 is a lot better than some, keep your head up

$200 is better than me before I started paying attention. I actually never added it up, there was $3000 on various CC's, $6000 Orthodontist and $3000 on a retirement plan loan for the down on my house so... $12,000+/-

Wow, that feels better.

I want to save up for an emergency fund and for some needed renovations on my house, also my car is 12 years old and I would like to replace it someday. With all those goals it seems like it is taking forever, I just need to be patient. (Not my best thing) Income tax time is coming though and that should put some extra in my pocket (I am taking a class so I can prepare Income Tax Returns not getting a big refund)

[Ima saver]

Re: How do you think you are doing?

Veronak, I have had that feeling about money since I was 7 or 8! Kind of unusual for a young kid to fanatize about a room full of money, but I did.

[JoyJoy]

Re: How do you think you are doing?

Having lost my dad, mom and sister (my immediate family I grew up with) and now my girlfriend of 30 years, I feel we (hubby and I) and our three sons are truly blessed to be here. I used to think money was the answer to everything and the more one amassed in life, the more comfortable and accepted one would be. I have since learned that money is not the true measure of one's worth. I have since stopped worrying about what we have and don't have. I just ask God to provide for us daily and in the future. My girlfriend and I had planned on what we would do with our lives once our credit cards were pd in full and our investments would start making us some real money, but now she is not here to share the rewards with me. That song "Didn't we almost have it all?......." keeps playing in my head.

Hubby is now retired as of June 1 and we are really making it better than we were when he was working. We are more contented even though we're paying out $1000.00 more a month in life and health insurances, (fed tax on earnings of course) that were previously paid by his employer.

I want to save and pay off the bills that we do make, but at the same time I don't want us to put off things like taking the trips we can afford and not afford to take (lol). I just don't want to "put off and put off" until a date certain. There is no date certain in any of our lives.

Great question Veronak! It really makes one think about exactly where they are!!

[JoyJoy]

Re: How do you think you are doing?

Oh and I might add, hubby did reach his goal of retiring at 55 years of age. So we are blessed regardless.

[Ima saver]

Re: How do you think you are doing?

Well, we have built and sold 5 spec houses over the past 4 years. We made a profit on each one of them and have really built up our savings!Of course, because material goes up so quickly we have to use our savings to keep building!!

[meaghanchan]

Re: How do you think you are doing?

I'm certainly doing better than some people my own age (24), and worse than some others. There are 20-somethings still in school, racking up debt. There are people who have car loans, student loans, piles of credit cards. On the other hand, some of those who are racking up the student debt are doing it to become doctors and lawyers with great earnings potential. I have some debt, but I also have a Roth IRA and 2 savings accounts. I have a slightly better than average earnings potential. How am I doing? Not as good as I could be, but OK.

[tgavin71]

Re: How do you think you are doing?

We are doing fine. What is a CD? Also does opening all those credit cards affect your credit rating in a negative way?