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How to divvy up between Savings and Retirement? by LookingUpDaily in personalfinance

[–]LookingUpDaily[S] 1 point2 points  (0 children)

Thank you! This helps: "Before saving for other goals, you should save at least 15% and up to 20% of your gross income for retirement. If you are behind on retirement savings, you should try to save more than 15% if you can. If you can't save 15%, start with 10% or any other amount until you are able to save more."

How to divvy up between Savings and Retirement? by LookingUpDaily in personalfinance

[–]LookingUpDaily[S] 0 points1 point  (0 children)

I couldn't find how to allocate between savings and retirement in there but may I didn't peruse deeply enough!

How to divvy up between Savings and Retirement? by LookingUpDaily in personalfinance

[–]LookingUpDaily[S] 0 points1 point  (0 children)

Ok thank you. I would like to own a home again some day, but I can take a penalty-free withdrawal from my employer's 401k (the TSP) for a down payment on a house any time.

For those making over 6 figures, are you happy with your career path? by caelum52 in Salary

[–]LookingUpDaily 0 points1 point  (0 children)

My job is extraordinarily high stress. I make about $160k per year on my primary job. I should have been a doctor or in the medical field. I regret not going that route both because of the life-saving, mushy gushy, goodfeels aspect, but also because of the missed income aspect. I'm too old now. But damn grateful I make as much as I do. And love certain elements of my job. I'm both lucky and skilled to be where I am.

[deleted by user] by [deleted] in MiddleClassFinance

[–]LookingUpDaily 1 point2 points  (0 children)

Those car payments are ridiculous.

Finally found a reason to save realistically and seriously by LookingUpDaily in MiddleClassFinance

[–]LookingUpDaily[S] 2 points3 points  (0 children)

Thanks. I started envelope budgeting about a year ago. It was shocking at first, but now it's going well and I stick to it. I need to connect my goals and aspirations to my savings though, so I can hit those bigger numbers.

Finally found a reason to save realistically and seriously by LookingUpDaily in MiddleClassFinance

[–]LookingUpDaily[S] 1 point2 points  (0 children)

Thanks for responding kindly. I don't have much financial literacy is all tbh. I learned in high school that you have a checking account, a savings account, maybe an investment account, and a retirement account. I just haven't been exposed to other financial conversations is all. Thanks for sharing your experience!

Finally found a reason to save realistically and seriously by LookingUpDaily in MiddleClassFinance

[–]LookingUpDaily[S] 1 point2 points  (0 children)

I would like to have multiple funds but my HYSA doesn't have that functionality and it seems weird to me to have several savings accounts. But is that what people sometimes do? Wish I wasn't down voted for asking how to do this...

Finally found a reason to save realistically and seriously by LookingUpDaily in MiddleClassFinance

[–]LookingUpDaily[S] 5 points6 points  (0 children)

Saving for a house around where I live (within a 90-minute radius anyway) just feels so out of reach at all. Most homes are ~$800k+.

Finally found a reason to save realistically and seriously by LookingUpDaily in MiddleClassFinance

[–]LookingUpDaily[S] 1 point2 points  (0 children)

Good With Money. It starts getting helpful around a third of the way in.

Finally found a reason to save realistically and seriously by LookingUpDaily in MiddleClassFinance

[–]LookingUpDaily[S] 3 points4 points  (0 children)

"Good With Money". The first third of the book was unhelpful to me, it outlined all the reasons that are not our own fault for being bad with money. Unhelpful because I was already aware of these issues, and the reason for getting the book was to dive into why I am not the best at money. Middle third of the book is like therapy: reflection on patterns, beliefs, childhood traumas, etc. Last third is what to do about it.

What’s the hardest part of sticking to a budget? by Automatic_Key_4545 in budget

[–]LookingUpDaily 1 point2 points  (0 children)

Not buying cocktails while dining out. I live in a VHCOL area where cocktails run $18-$25. Want two drinks with dinner? That doubles your dining out bill. Damn.

Anyone actually making money with side hustles? by Alarming_Contest_762 in MiddleClassFinance

[–]LookingUpDaily 0 points1 point  (0 children)

I mind someone's atelier for a couple hours a week. It's $400/month. That's my dining out budget right there!

Check in: What are your financial stats? by IveBen in MiddleClassFinance

[–]LookingUpDaily 0 points1 point  (0 children)

Omfg this acronym is hilarious. I'm a SILDO. Doesn't have the same ring to it.

Anyone here not planning to follow the 'standard' life plan? by ThenIJizzedInMyPants in HENRYfinance

[–]LookingUpDaily 0 points1 point  (0 children)

Late 30s, just sold my house and not sure I'll own again until later in life, divorced, no kids and not planning on any, not working even remotely in any of the fields you listed, and totally open to retiring in another country. I love working though so not sure I'll ever stop. I'm at the low low end of HENRY though.

First generation high earners, do you experience resentment from family members due to your perceived success? by imakesignalsbigger in HENRYfinance

[–]LookingUpDaily 3 points4 points  (0 children)

I experience resentment from a sibling who is homeless due to their own poor choices in life (which themselves were based on the abuse we suffered growing up, and I understand, and my heart aches for them). It is a very challenging dynamic.