It entirely depends on how quickly you want to achieve financial independence. But saving half of your income is a milestone many high earners don’t achieve so congrats
We want to drive our cars until they can’t start anymore. If it’s at least 3 years out from buying a car then we invest it. If it’s less than 3 years then we save it in cash.
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40-50% gross savings is the NORM in places like China and Singapore and even Northern Europe.
Congratulations on your wedding! I don't why I thought you were married already.
Thank you! Technically yes but we are having a ceremony this year… there may or may not be a video about our wedding budget 🤫
@@FIREPsyChat awesome! We did the same thing 17 years ago. Got married and used a year to save up $17k for our wedding.
You did it the right away! Awesome!
I’ve just gotten to saving 50% after years of spending everything. But I assume the savings rate should be much higher on a large household income?
It entirely depends on how quickly you want to achieve financial independence. But saving half of your income is a milestone many high earners don’t achieve so congrats
When do u save for car replacements?
We want to drive our cars until they can’t start anymore. If it’s at least 3 years out from buying a car then we invest it. If it’s less than 3 years then we save it in cash.
@@FIREPsyChat drove a GMC yukon for 17 years and 277k miles... . still had life in it, but spousal unit made me get rid of it. . .. Lol