Comments on: Savings Guidelines http://www.mapgirl.net/mfc/2007/08/30/savings-guidelines/ Just tidbits about money and finance. Mon, 01 Dec 2008 21:44:19 +0000 http://wordpress.org/?v=2.5 By: Tom http://www.mapgirl.net/mfc/2007/08/30/savings-guidelines/#comment-129151 Tom Fri, 31 Aug 2007 19:17:48 +0000 http://www.mapgirl.net/mfc/2007/08/30/savings-guidelines/#comment-129151 I'm in my young 20s and it saddens me to see all of my friends not save ONE freaking dollar. It's liks they have to spend it right when it hits their hand. They have no idea that if you just save a lousy $100-200 a month, it will add up quick! Great post. I’m in my young 20s and it saddens me to see all of my friends not save ONE freaking dollar. It’s liks they have to spend it right when it hits their hand. They have no idea that if you just save a lousy $100-200 a month, it will add up quick! Great post.

]]> By: mapgirl http://www.mapgirl.net/mfc/2007/08/30/savings-guidelines/#comment-128390 mapgirl Fri, 31 Aug 2007 01:23:18 +0000 http://www.mapgirl.net/mfc/2007/08/30/savings-guidelines/#comment-128390 Glblguy - No. I am saying if you don't have any savings, you can start by socking away cash. You can't really start investing without some cash anyhow, so if the market's current volatility freaks you out, wait it out and start saving some cash. At the moment, for a lot of folks, just having $1000 ready in the bank is a lot of savings. As BostonGal says, 'today is a great day to start saving.' Minimum Wage- I usually don't answer direct questions like yours. I'm not a personal finance professional and I don't know much about your situation. I don't know how much you need to live in retirement, because that will dictate what you can afford to save. But start first by figuring out what you need to live on during retirement. Also think about when you are going to retire. If you can wait a few days, I'll try to post up something more detailed. Glblguy - No. I am saying if you don’t have any savings, you can start by socking away cash. You can’t really start investing without some cash anyhow, so if the market’s current volatility freaks you out, wait it out and start saving some cash. At the moment, for a lot of folks, just having $1000 ready in the bank is a lot of savings. As BostonGal says, ‘today is a great day to start saving.’

Minimum Wage- I usually don’t answer direct questions like yours. I’m not a personal finance professional and I don’t know much about your situation. I don’t know how much you need to live in retirement, because that will dictate what you can afford to save. But start first by figuring out what you need to live on during retirement. Also think about when you are going to retire. If you can wait a few days, I’ll try to post up something more detailed.

]]> By: glblguy http://www.mapgirl.net/mfc/2007/08/30/savings-guidelines/#comment-128365 glblguy Fri, 31 Aug 2007 00:57:03 +0000 http://www.mapgirl.net/mfc/2007/08/30/savings-guidelines/#comment-128365 <i>You can start socking away cash for right now.</i> Mapgirl, are you saying we should stop investing and just save cash right now? You can start socking away cash for right now.

Mapgirl, are you saying we should stop investing and just save cash right now?

]]> By: Minimum Wage http://www.mapgirl.net/mfc/2007/08/30/savings-guidelines/#comment-128074 Minimum Wage Thu, 30 Aug 2007 20:16:31 +0000 http://www.mapgirl.net/mfc/2007/08/30/savings-guidelines/#comment-128074 I am 50, I earn $15K, and I am paying $300/mo in debt service. (Student loans and such.) I have no savings or retirement plan. How much should I be saving? I am 50, I earn $15K, and I am paying $300/mo in debt service. (Student loans and such.) I have no savings or retirement plan.

How much should I be saving?

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