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Savings and Net Worth   imbb   09/19/2019 09:56 AM  

Since we had an interesting thread going on about Savings a thought came to mind why not post what each of us has saved so far, so we can see where we stand. Since this is anonymous no danger of being judged and at same time we can see how others are doing compared to me?

My Details: Dual earners in IT. Save ~40K / year. Total net worth :$150K

Please share your savings and lets see how we are all doing?

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Re: Savings and Net Worth   supra   09/19/2019 10:25 AM  

My details:

Single earner/unmarried. Save 20K / year. Total net worth :55K


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Re: Re: Savings and Net Worth   sucker   09/20/2019 08:58 AM  

Life sucks. Barely any savings. All goes to living expense or to family in India.

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Re: Savings and Net Worth   Xj   09/22/2019 09:26 PM  

Single earner/unmarried. Saved 130k in three years

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Re: Savings and Net Worth   As   09/22/2019 09:28 PM  

Working single in NYC for 2 and half years. Saved $120k.

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Re: Re: Savings and Net Worth   desi   09/22/2019 11:48 PM  

I save 2k per month minimum

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Re: Re: Re: Savings and Net Worth   urfreind   09/23/2019 09:32 AM  

Slightly different context. I have been in the US for many years, so well established with home and kids etc and with a high net worth (> 1 mill). More than the savings its the investment returns that I get that are raising my net worth. On an average my savings and investments gains are 16-18K per month.

Yes, it can be done. All you need is patience and discipline in investing.

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Re: Re: Re: Re: Savings and Net Worth   R   09/23/2019 10:35 AM  

Please some advice for regular income on investments

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Re: Re: Re: Re: Savings and Net Worth   Cc   09/23/2019 08:56 PM  

Where u invest ?stocks ?

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Re: Re: Re: Re: Re: Savings and Net Worth   urfreind   09/24/2019 08:45 AM  

Investing in individual stocks is risky. I do have a few stocks in my portfolio but I mostly invest in index funds such as the Vanguard s&p 500 Index Fund (VFINX), Vanguard Total Stack Market Index (VTSIX) etc. You have to have the right mix of funds (large, small.mid plus bond funds) baaed on your risk tolerance. Its a big topic and I can't explain all in this post.

Bottom line is choose index funds over individual stocks, keep investing regularly over a long period, regardless of market highs or lows. If you do that you will do well and money will compound year over year. You need patience and discipline.

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Re: Re: Re: Re: Re: Re: Savings and Net Worth   R   09/24/2019 01:53 PM  

where can I find this information to get monthly consistent income as you said?
who to contact?

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Re: Re: Re: Re: Re: Re: Re: Savings and Net Worth   urfreind   09/24/2019 03:13 PM  

R, just to clarify there is no guarantee that it will always give positive return every month. I have invested in index funds which go up and down month by month. Its the fact that I have stayed invested for a long period of time is why I am in the positive. I mentioned a few index funds in a previous post.If you see their performance over a period of 10-15 years the net result is always a gain.
https://personal.vanguard.com/us/funds/snapshot?FundId=0040&from=TPV&FundIntExt=INT


Do Research and learn basics of investing. Markets will go up or down but you should learn to stay invested and not panic and sell.

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Re: Savings and Net Worth   ryan   09/28/2019 07:48 PM  

Dual Earner - 10 years 50K save Network 150K. Spend a lot on Travelling and do not regret one bit.

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Re: Re: Savings and Net Worth   Deag   09/29/2019 10:49 AM  

Ryan - you will have time to regret - maybe just not yet 😜.

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Re: Re: Re: Savings and Net Worth   Ramesh   09/29/2019 10:56 AM  

no Ryan's approach is the right one

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