Why is 28% a magic number for saving?
started by be nice please 1 month agoFlat
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Anetra posted Re:Why is 28% a magic number for saving? on 1 month agoWho are all worried abt their 401k. Mine is down 11.6% this year
Johnny Braavo posted Re:Why is 28% a magic number for saving? on 1 month ago
carvaka posted Re:Why is 28% a magic number for saving? on 1 month ago
mf02 posted Re:Why is 28% a magic number for saving? on 1 month ago
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Johnny Braavo posted Re:Why is 28% a magic number for saving? on 1 month agoHello Anerta,How are you today? interesting lady :)
Johnny Braavo posted Re:Why is 28% a magic number for saving? on 1 month ago
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Johnny Braavo posted Re:Why is 28% a magic number for saving? on 1 month agoBesides I do not have a 401k.Yeah i am poor :)
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carvaka posted Re:Why is 28% a magic number for saving? on 1 month agoMine is down 7.7% YTD.
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mf02 posted Re:Why is 28% a magic number for saving? on 1 month agoI have stopped looking at it for couple of weeks now....can't stand that red ink! We jokingly call it "200.5K" plan now!
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I have a suggestion for you take it or leave it...
Buy a home which need renovations have someone or yourself fix it minimum you will save about 20% of the true value of the home. Also when putting Insurance make sure its the same company which you have your vehicle insured this helps your point average of course if you are a good driver. Intrepid rates on a mortgage are risky but still good time to buy a “Home” make sure the land is stable as well and the community is a growing community in this case for the future you can gain some money if you try to sale it.
:) I always think Investing is the key
Buy a home which need renovations have someone or yourself fix it minimum you will save about 20% of the true value of the home. Also when putting Insurance make sure its the same company which you have your vehicle insured this helps your point average of course if you are a good driver. Intrepid rates on a mortgage are risky but still good time to buy a “Home” make sure the land is stable as well and the community is a growing community in this case for the future you can gain some money if you try to sale it.
There are free classes in Home Depot that teach you how to deal with remodeling issues, some areas of your home which will improve the over all Price in the future. Per example: Bath, Kitchen and Basement...
:) I always think Investing is the key
True,
Only if you have the time, the interest and the perseverence to do it. Wish somebody had told me this when i was single, would have loved such a project.
Only if you have the time, the interest and the perseverence to do it. Wish somebody had told me this when i was single, would have loved such a project.
I am sorry what I said to you on the other post, I am very edgy okay...
You can still do this I am not sure your situation now best of luck!
You can still do this I am not sure your situation now best of luck!
Trust me,
With a toddler in tow and another one soon on its ways...remodelling or building anything is not in my charts for a while.
With a toddler in tow and another one soon on its ways...remodelling or building anything is not in my charts for a while.
Oh! I didn't you had another one coming soon! Congratulations! :-)
Danke...
yep anytime now.
yep anytime now.
May that be a triplet.... 
(I always wanted one - a triplet... only way is if I got pregnant myself).
(I always wanted one - a triplet... only way is if I got pregnant myself).
I seriously don't get you, man.
:)))) If you did then I would be the same as everyone right?...
Here is the gig.... I am glad he is having another - hence my immediate response...
And by now he would have known if they were twins or triplets or septapulets.... so that was more of a joke... "ME getting pregnant" should have indicated that....
But, whenever I see twins I do wonder what it would be like to have a boy and a girl twins...:))) My PCP is a grandpa and that dude has quintapulets and twins with all the pics on the Clinic wall..
I tell ya... such adorable and cute pics....... and such uniqueness.
I am sure now you can understand me...crystal clear.....
Here is the gig.... I am glad he is having another - hence my immediate response...
And by now he would have known if they were twins or triplets or septapulets.... so that was more of a joke... "ME getting pregnant" should have indicated that....
But, whenever I see twins I do wonder what it would be like to have a boy and a girl twins...:))) My PCP is a grandpa and that dude has quintapulets and twins with all the pics on the Clinic wall..
I tell ya... such adorable and cute pics....... and such uniqueness.
I am sure now you can understand me...crystal clear.....
That's insane. Ideally you should be paying less than 20% of your POST-tax income on rent or a mortgage. A house is an insanely expensive money pit. You have to constantly insure, heat, cool, maintain, repair, furnish, and clean the inside and outside of a house. It's a pain and a total waste of time, unless you have a condo association taking care of most of these details.
>>> did you even read the article you posted a link to? it says to not spend more than 28% on rent or mortgage. that's not the number they give for savings.
Im sorry, I dont udersnatd what you are saying.
In a big city, a crappy apartment with rats, which will most prolly be in the basement level will cost you 1000 $ in rent (if u are lucky). If you wanna stay in the city and be connected to public transport that is. Howver if you wanna move to a middle of no-where suburb, which is 'close' to the city and has NO public transport.....even then you will get a tiny apt for a 1000$ the only benefit being that it will have no rats.
So in order to have an avarage decent living situation, one NEEDS to dish out at least 1250$-1300$ EVERY MONTH in rent to live in a big city. (And this by the way DOES NOT include heat or hot water or Electricity!!).
Contary to popular belief, employers DON"T pay commensurate to the cost of living. For your qualification, the employer will not pay you 4 times more in Boston than in Utah, even if the cost of living is 4-5 times higher in Boston.
Not everyone is a computer programmer like you guys. The average american salary is probably 45K.
So in this case what must I do to avoid going down the rabbit hole? :(((((
In a big city, a crappy apartment with rats, which will most prolly be in the basement level will cost you 1000 $ in rent (if u are lucky). If you wanna stay in the city and be connected to public transport that is. Howver if you wanna move to a middle of no-where suburb, which is 'close' to the city and has NO public transport.....even then you will get a tiny apt for a 1000$ the only benefit being that it will have no rats.
So in order to have an avarage decent living situation, one NEEDS to dish out at least 1250$-1300$ EVERY MONTH in rent to live in a big city. (And this by the way DOES NOT include heat or hot water or Electricity!!).
Contary to popular belief, employers DON"T pay commensurate to the cost of living. For your qualification, the employer will not pay you 4 times more in Boston than in Utah, even if the cost of living is 4-5 times higher in Boston.
Not everyone is a computer programmer like you guys. The average american salary is probably 45K.
So in this case what must I do to avoid going down the rabbit hole? :(((((
the figure they quote for housing is 28% of gross salary i.e. before taxes. i assume you pay 50% of your net salary to rent not 50% gross salary. I do not know what tax is in the US as I do not live there so if you take your rent as a proportion of your gross salary it will be less than 50% probably nearer 30-40%.
However to be fair since property has risen at the rate it has you are not alone in paying more than the magic 28%. It simply means shelling out less elsewhere.
However to be fair since property has risen at the rate it has you are not alone in paying more than the magic 28%. It simply means shelling out less elsewhere.
>>> some of these pop financial advice is worthless. it says to not have more than a $5000 balance on your credit card. we always pay our balances on time but often have balances that are more than $5000. we buy everything with a credit card -- groceries, gas, highway tolls, insurance, airline tickets (both personal and work related for which we get reimbursed right away), kids' swim classes, and gym memberships. we do this to get airline miles.
"we do this to get airline miles."
How 90s can you be?? Cancel these airline mile cards and get cash-back cards. It is becoming increasingly difficult to redeem airline miles these days. Heck, some airlines may not even be around when you get ready to fly. Cash-back cards give you a certain percentage of the purchase price back as cash incentive, which you can apply towards your monthly statement.
How 90s can you be?? Cancel these airline mile cards and get cash-back cards. It is becoming increasingly difficult to redeem airline miles these days. Heck, some airlines may not even be around when you get ready to fly. Cash-back cards give you a certain percentage of the purchase price back as cash incentive, which you can apply towards your monthly statement.
>>> it's always worked for me, but it may be time to do a comparative check on which is better.
Ya look at the cost of purchasing airline tickets these days. I recently paid $99 for a one way ticket from NJ to Chicago. Round trip, that's $200. If I used airline miles to get a round-trip ticket to Chicago, I would have given up 20k miles. That amounts to ONE cent per mile. Put differently, for every $20,000 you spend on your credit card, you're getting back 20,000 cents in airline miles. Not so good. In contast, cash-back cards give you 5% back on groceries, gas and related expenses, and 1-3% back on other expenses. Secondly, cash is cash. The reward is instant and can be used any which way you like.
Can't believe I wrote a logical, coherent post on financial matters. fuqin a.
Can't believe I wrote a logical, coherent post on financial matters. fuqin a.
So what in your opinion is a good cash back card ?
I use this card everywhere except desi stores and other seedy establishments that don't accept Amex. If I need to use Visa, I have a Banana Republic Visa card wich gives me points, rebates and coupons towards purchases from BR.
Looks pretty good..but how does business cards differ from personal cards ? Do i need to own a business and register the card against it ?
Ya I think so. I have a biz so that's why I use it. If you don't have a biz, get this card.
Amex Green!
Amex Green isn't a cash-back card. It is a "points" card. Secondly, there's a $95/yr annual fee. mmmkay?
Gadhe ki dum! I have had it for 5 years, no AMF and it's cash-back card, not a rewards card. mmkay?
You're full of shyt. Provide URL that says Amex Green is a cash-back card with no annual fee.
Haha! Don't be so rude man, I have emotions too...looke like they have changed the terms of their 'Green' card, I have had it for 5 years and never paid a dime and I get cash back every year close to $450...if you don't believe me, I can email you my credit card # :)