How much Money do you have Saved???

[Anonymous]

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@800ficogirl wrote:
Nice! Any investments MC?

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I have a brokerage account I do trade with, that is around 8% today,  The remaining 92% is done with a financial advisor with a firm in town.

[Anonymous]

Thanks to those who recommended reading material. I am going to look at all of those this weekend.

[Anonymous]

Many people in this discussion mention having a "rainy day" or "emergency" fund of cash -- often six months of your living expenses.  I think that is a good idea and have it myself.  The only thing that can be troubling for folks is the very low interest they are making on that sizable pile of cash.

Here is a recent article that gives some ways to make quite a bit more than the current 1% rate on a cash investment of 20, 30, 50k, or more.

http://www.doctorofcredit.com/high-interest-savings-to-get/

[800ficogirl]

Those are great rates, however, I prefer to have all my monies housed together at a walk in available institution. Not doing any new hard inquiries, and don't want transaction fees & requirements.. Just want it to sit and accrue Interest. This post may certainly help someone else tho,. Does anyone here currently use any of these online banking? Or considering them? 6% does sound wonderful.

[Anonymous]

Age- 21F
Savings- 2290
Fico- 690
Approximately $700 in credit card debt.

My goal is to save 15k by the end of this year so only about 12,710 to go.

[800ficogirl]

Good start. Definitely pay down that debt especially if it's accruing interest. $15,000 is an awesome goal!

[Anonymous]

37M

Savings- 44 month of family of 3 expenses (built from scratch for 5 years)

401K - 3 month of family of 3 expenses (it got -20% hit last year, so, don't want to invest in mutual funds)
Fico ~750

no dept

Goal by year end:
Savings - 42 month of family of 3 expenses (plan to purchase new car without financing)

401K - 3.5 month of family of 3 expenses
Fico- 770

no dept

[Anonymous]

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@Anonymous wrote:

37M

Savings- 44 month of family of 3 expenses (built from scratch for 5 years)

401K - 3 month of family of 3 expenses (it got -20% hit last year, so, don't want to invest in mutual funds)
Fico ~750

no dept

Goal by year end:
Savings - 42 month of family of 3 expenses (plan to purchase new car without financing)

401K - 3.5 month of family of 3 expenses
Fico- 770

no dept

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Sounds like a lot of cash in savings especially as you are debt free. CONGRATS by the way!!! Are you getting a decent return on the savings? If mutual funds and stocks are not your thing have you ever considered owning rental property? I have also read about pretty positive results through lending club and prosper although I have yet to try those. Personally when stocks are getting beaten over the head I feel it is the absolute best time to buy them. 

[ceemee2203]

Age - 28

$75k in cash. $15k in investments/retirement. (Been saving since I made $25k/yr.)

No debt (paid off student loans in Jan).

End of year goal: $100k between cash/investments.

Ficos are between 810 and 860.

[800ficogirl]

This may very well be my favorite kudos! You are doing really well! Especially for your age. Kudos CeeMee!
So $20K annually in Savings, and another $5000yr in Investments,. That's how I would like to be 😊,. Only wish I started saving this aggressively @ your age. This year I plan to save my first $20,000 (which will also be my first $10K 🙌 increased income this year will truly give me the shot to meet my goal,.

Tell me a little more on how you got that Fico CeeMee,. Do you have a mortgage?,. All of my monitoring sites say I need" a mortgage to reach my maximum Fico score. I'm teetering around 670s - 690s and even when my baddies fall off later this year, I don't think I'll reach past 720 without having a mortgage. Any advice?