6 out of 10 Americans have less than $500 in their savings account; how about you?f

[ViShawn]

I got way more than that lmfao.

 

[mamba]

Can you pull your money out whenever you want with no fees? What are the taxes?

You can pull out, easily. But, you'll be taxed on the capital gains associated with the sale.

If you buy/trade brokerage-issued ETFs using the same brokerage (Vanguard, ETFs using Vanguard, for example), there are no trading fees. But, if you're buying/selling non-brokerage-issued ETFs (Vanguard ETFs using ETRADE, for example) you also have to pay trading fees.

 

[Based Lord Zedd]

I'm not in the 60% but I don't make enough money yet to have all the savings I'd like to have.
Fixing that though

Right now I have pay bills comfortably, travel a bit and enjoy life a little money. Gotta upgrade to that enjoy life a lot money.

 

[Houston911]

You can pull out, easily. But, you'll be taxed on the capital gains associated with the sale.

If you buy brokerage-issued ETFs (Vanguard, for example), there are no trading fees. But, if you're buying/selling non-brokerage-issued ETFs (Vanguard ETFs using ETRADE, for example) you also have to pay trading fees.

 

[horizon]

let's just say, I aint starvin

 

[muzikfrk75]

This has been the biggest key in me rebuilding my savings after a wave of car repairs wiped out my little money pad. I always time mine to hit every paycheck so when that hits my account, the savings gets its cut at the same time.

Pay yourself first.

Simple yet correct advice.

 

[mamba]

It's not too bad.

I throw some of my money into Bond ETFs. Some of them pay monthly dividends. Still much higher return than you'd get holding that money in a standard savings account.

 

[greenvale]

Starting my career in lil over a month. I'll definitely use some of the tips in this thread

 

[Silkk]

Nothing like 2014/2015

 

[Wild self]

Having kids without being properly positioned is a killer you'll never catch up.

Living on your own in a major city is a killer as well, like half of your take home pay already going to rent

Some people are hypebeasts that have to live in "excitement" aka social extroverted addicts that can never get enough.

 

[Wild self]

People are really outchea driving around in expensive ass shyt like that?

I've made six figures for a long time. There's no way I'm dropping more than $30k for a car. If I want something nice, I'll wait until the depreciation knocks it down a bit.

I've seen nikkas grab a used BMW 6 series for $50k. Brehs, BMWs lose value like crazy.

If you wait two years, you can get that same 6 series for $20k or less.

Even if I were a billionaire, I'd still buy used shyt that's been depreciated a good bit.

Anything to stunt and flex on the gram. I rather be the low key person that owns the bytch and have huge savings and investments over the dude with flash and have nothing to show for it.

 

[bigesco]

Im not a young buck and 50K aint shyt really. Plus I had dreams you know. But yeah I guess Im blessed and should be thankful.

 

[Truefan31]

I've posted a lot on these forums about general financial health. Went from being stupid with money early on to being debt-free, own my house n cars. Used to keep a 6 month emergency fund in a credit union account, i've since upped it to about 9-10 months at any given time. The rest goes into maxing out retirement funds like 401ks and Roth IRAs, along with some low fee no load mutual funds.

Can't stress enough when you can, as early as possible start up a Roth IRA. If you have a matching 401k plan at work with a low fee administrator like Vanguard/Fidelity, put as much as you can. Be surprised at how fast compounding interest works and have millions in retirement.

 

[FukYaFeelings]

At y'all nikkas.

If it was that easy to save money most of us wouldn't have grown up with not so well of parents.


"All u gotta do is put a percent of ur paycheck in the bank "


Y'all parents must be dumb cuz it ain't that easy.

Y'all sounding real

 

[Hahahaha]

At y'all nikkas.

If it was that easy to save money most of us wouldn't have grown up with not so well of parents.


"All u gotta do is put a percent of ur paycheck in the bank "


Y'all parents must be dumb cuz it ain't that easy.

Y'all sounding real

My family is dumb with money. For people making a decent wage, it is as simple as saving money regularly and not on frivolous shyt.