How much do you have in savings?

amother

Fuchsia

Tue, Oct 12 2021, 9:41 am

Low 40s
3 kids
Own a house
about 275K in savings
about 400K in retirement
Have a few other smaller inverstments too

We live comfortably but below our means. Always have made saving a priority. We literally started from nothing when we got married but we have good jobs. We had saved about 40K already this year. Part of of paychecks go directly to saving so we don't even think about that money as being spendable.

Chickensoupprof

Tue, Oct 12 2021, 9:52 am

27... 1900 euro, no income... no government benefits cause DH earns too much (the Dutch turned of most of the benefits we are almost close to America). No kids.. ehm... no mortgage... only rent.... 40k student debt. Get maybe assistance to work but they apparently don't know how to deal with frum jews (like no I'm not going to work on Saturday... But you it is around your corner....'no....') DH has some pension don't know how much.

amother

Impatiens

Tue, Oct 12 2021, 10:00 am

amother [ Fuchsia ] wrote:

Wow. Can I ask what your household income is?

amother

Brass

Tue, Oct 12 2021, 10:12 am

I'm 30 dh 32. We have about 60k in the bank. Iyh well be using a nice chunk of that on renovations. Own our home. Another 45k in our retirement funds. Until 3 years ago we were month to month bleeding money until the tax refund check came. Bh it's better now but we still have a way to go to become more financially secure.

amother

Fuchsia

Tue, Oct 12 2021, 10:15 am

amother [ Impatiens ] wrote:

Wow. Can I ask what your household income is?

A little over 300K pre-tax. Most of that is DH. He is a software engineer for a financial company in NYC. I work very part time also doing software development. We pay about 65K in tuition.

amother

Ecru

Tue, Oct 12 2021, 11:19 am

amother [ Opal ] wrote:

$1M

Which is kind of funny because DH doesn't want to make any substantial purchases "in case we need it in the future" so people think we're poor and offer to give us stuff.
DH keeps it under a mattress (not literally) because he has "no appetite for risk".

So we are fortunate not to sweat over monthly bills but I feel very much lacking compared to other middle class people and I think we're so foolish not to invest.

Us too..if people knew we actually had that much liquid cash they would be shocked!

amother

Wheat

Tue, Oct 12 2021, 11:31 am

amother [ Ecru ] wrote:

Us too..if people knew we actually had that much liquid cash they would be shocked!

That is so weird to me. We have almost nothing in our checking account or savings account- just enough to pay our monthly bills. All our savings ($1 million plus is in investments- IRA, investments, real estate) plus whatever our house is worth.

amother

Calendula

Tue, Oct 12 2021, 11:45 am

I'm in my late 30s, DH is in his early 40s. 6 kids, we live in Israel.
We own our apartment in Jerusalem.
We have about $40K in savings. We have about $60K in retirement so far.
Another couple of thousand in stocks.

We're definitely behind schedule in our investments and retirement at this stage, but hopefully we'll be able to continue to grow it.

I love threads like this.
They don't foster jealousy, even though most of the respondents are younger than me with far more money. I find these threads inspiring, if anything. Look! It can be done!

amother

Nasturtium

Tue, Oct 12 2021, 11:53 am

amother [ Fuchsia ] wrote:

A little over 300K pre-tax. Most of that is DH. He is a software engineer for a financial company in NYC. I work very part time also doing software development. We pay about 65K in tuition.

I know these threads can be hard. This was actually really nice to read. My DH will Iyh be earning 200k starting soon with potential to reach 350. (I make 30-50 depending on the year 😵‍💫) and it sometimes feels like it will never be enough. Nice to see that you were able to build up nice savings on that income.

amother

Cyclamen

Tue, Oct 12 2021, 11:55 am

My husband and I are in our late 30's. 3 kids. We own our home (no mortgage) and it's worth about 1.6M-1.8M. Vacation home (no mortgage) worth about 295k. In the bank (invested) 500k. No retirement (because we believe we get better value having full access to our money to invest as we see fit) or other savings. No debt (of any kind). Our gross annual income is between 300k-500k, depending on the year. Life insurance of 2M. That's us.

amother

Aconite

Tue, Oct 12 2021, 1:54 pm

Low 30’s
3 kids
0 savings
Lots of debt and bills and collection agencies hounding us.
We don’t always make it through the month.
DH works extremely hard, I was laid off by covid and am trying (unsuccessfully) to find a job that will work for me.
I often wonder about our future. How we will marry off our children etc. it’s been years and though we’ve changed jobs and moved etc, there hasn’t really been a change to our financial status.
I get very jealous of ppl who seem to have more. (Especially certain family members. Seems like they can just buy and spend on whatever, build homes, renovate, buy vacation homes etc)
But we have nothing.
We are extremely blessed in other ways and we don’t fail to count our blessings.

Felt good to vent, thank you!

amother

Navy

Tue, Oct 12 2021, 2:23 pm

Mid 40s
We don't own a home
2 million in investments
Also a retirement account, can't recall exact amount but over 500000 I think.
We only saved money when our kids were small, and invested the money we saved. Bh invested well.
Hope to buy a home one day soon, would love to be in our own place.

amother

Papayawhip

Tue, Oct 12 2021, 2:29 pm

amother [ Navy ] wrote:

Mid 40s
We don't own a home
2 million in investments

Hope to buy a home one day soon, would love to be in our own place.

I'm just curious, with 2 million in investments, what are you waiting for?

amother

Blush

Tue, Oct 12 2021, 3:02 pm

amother [ Aconite ] wrote:

Just wanted to say there are so so so many people in the same financial position as your in. They just arent posting here. Don't go around thinking everyone has so much money..
Hashem has everyone in mind.. I"h you should have an abundance of parnassah when you need it.
Also just because people have so much saved up doesn't mean they are living any more peacefully than you are. Everyone has their worries and fears.

amother

Apricot

Tue, Oct 12 2021, 4:56 pm

amother [ Brickred ] wrote:

I would be happy to open an email account and send what I can… if anyone else also wants to they can email it as well.. I just wouldn’t want to post anything if I won’t have where to send the money to…

I want to donate too plz

amother

Navy

Tue, Oct 12 2021, 7:03 pm

amother [ Papayawhip ] wrote:

I'm just curious, with 2 million in investments, what are you waiting for?

It's a bad time to buy, so we are waiting. Plus we need a very specific location. Also other complicated reasons I can't go into.

amother

Papaya

Tue, Oct 12 2021, 9:58 pm

amother [ Dandelion ] wrote:

We make a decent salary (around 300k combined) but I am a terrible saver! How do you squash that desire for new things when there’s money in the bank to pay for them?

Im the same as you, its a terrible struggle that natural "savers" dont really understand.
Were about 30, 3 kids.
we own our own home which is worth about 900k although we bought it for only 500k
we have about 20k saved up, maybe a little less
If I didnt have such a strong desire to spend, we would have WAY more