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Forum » What’s your savings rate? (Dave Ramseycels welcome ITT)
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Thread: What’s your savings rate? (Dave Ramseycels welcome ITT)

post 1661588623 05-19-2022, 06:54 PM
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  1. meanstringbean
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What’s your savings rate? (Dave Ramseycels welcome ITT)

Aka how much % do you save/invest after all taxes expenses etc.


This is the ultimate number that decides how quickly you can reach financial independence, regardless of income. That said - a higher income makes it easier to save more


62% so far YTD. Only issue is I’ve invested every penny in VTI and Biden’s economy has wiped it out
post 1661588733 05-19-2022, 06:55 PM
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  1. EasyPassive
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70% srs.

Don't worry about your investments it will come back to normal srs
post 1661589103 05-19-2022, 07:02 PM
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  1. r32gojirra
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Originally Posted By meanstringbean⏩
Aka how much % do you save/invest after all taxes expenses etc.


This is the ultimate number that decides how quickly you can reach financial independence,regardless of income. That said - a higher income makes it easier to save more


62% so far YTD. Only issue is I’ve invested every penny in VTI and Biden’s economy has wiped it out
Such a lie.

Your ability to increase your total income is functionally unlimited.

By contrast your ability to “save” is by definition some percentage of your total income minus what is required to survive.

I’m going to distribute a seven figure profit to myself for the second year in a row, do you think the percentage of this I “save” makes as big of a difference?

In order:

1) increase income as much as possible
2) reduce all tax liabilities as much as legally possible

…



3) savings rate
post 1661589933 05-19-2022, 07:27 PM
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  1. meanstringbean
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Originally Posted By r32gojirra⏩
Such a lie.

Your ability to increase your total income is functionally unlimited.

By contrast your ability to “save” is by definition some percentage of your total income minus what is required to survive.

I’m going to distribute a seven figure profit to myself for the second year in a row, do you think the percentage of this I “save” makes as big of a difference?

In order:

1) increase income as much as possible
2) reduce all tax liabilities as much as legally possible

…



3) savings rate
Can’t math


If you have a seven figure profit and a 5% savings rate you are further away from financial independence than someone making 50k saving 80%
post 1661590193 05-19-2022, 07:33 PM
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How tf are you calculating this? Do you keep track of the amount of $ in your savings account/investment accounts at the beginning of the year then look back at it? To be honest I contribute to 401k and HSA regularly and my trading/investment account every so often. It isn't something I'd be able to find easily I guess lmao.

Best guess is 35.0% srs. Probably slightly lower because I used lower end of income in my calculation. Also, if student loans get turned back on that will go down fairly dramatically lmao
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post 1661590503 05-19-2022, 07:38 PM
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Originally Posted By EasyPassive⏩
70% srs.

Don't worry about your investments it will come back to normal srs
Lmao Austrian economic cope

“sToNks OnLy gO uP”
post 1661590563 05-19-2022, 07:39 PM
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  1. r32gojirra
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Originally Posted By meanstringbean⏩
Can’t math


If you have a seven figure profit and a 5% savings rate you are further away from financial independence than someone making 50k saving 80%
Lol what

Even using your extreme assumptions the person saving 5% of $1million + each year is saving more than the total income of the person earning $50k

The lack of basic numeracy explains a lot

Can’t math indeed
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