RetireWhen,KlangFool,OP,
I believe in saving 1 year of expense every year. Aka, save as much as you spend.
The saving is automated by send the amount to be saved into the taxable brokerage, 401K, HSA from the paycheck.
KlangFool
No disrespect or anything. I'm just wondering if I'm reading your comment correctly. You are saying each and every year you spend 50% of your income and save 50% of your income. And you do this year after year?
If this is true, and I am not judging, why do you save so much? Is it that you have such a large income that you can spend freely and don't need to or want to spend more? Or is it more from the saving side that you keep your spending to a minimum so you can save as much as possible? If the latter, why are you saving so much?
I save/spend 50K to 60K per year. I buy less houses than my income peers. I only buy my house when it was significantly cheaper than renting. Hence, besides housing, I spend as much as my income peers.
So, I am not frugal. I only buy new cars and I eat out regularly. The only key difference is the house.
KlangFool
Statistics: Posted by KlangFool — Wed Jul 10, 2024 10:11 am — Replies 70 — Views 3330