Yea but that’s not the case for most ppl Let’s say the average person makes $52k a year/ $1k a week. Their approximately going to take home $41,000 after taxes. Ofc these numbers aren’t as accurate because it’s just the average amount Rent- $1200 Car note - $528 Insurance- $200 Food - $300 Gas - $175 Phone bill - $35 And if you make $1k a week and you save 20% that’ll mean your saving $800 a month That would leave you with $2k left by the end of the year or $38 a week… god forbid you have a kid, a pet, a house/car repair, wanna buy personal items or go out anywhere. This will only work if you really make $75k+ but other than that the average American literally wouldn’t be able to
So I am 16 and my parents told me that I have to buy my own truck.I currently have a 2012 impala my parents bought me but I want to save that car and not drive it in the winter but I might have to.Im trying to save 5k in 4 months.I need a job and am trying to get one but id work 25-30 hours in the week including weekends.i want like $11 or $12 an hour.My fuel cost with where im at is $3.30 roughly and i put $60 in my tank every 2 weeks.How do i save the most I can.
$20k is what you pay in taxes. Unrealistic numbers
20% x 100k x 30 years = 600k invested x 4 from compounding at 10% = 2.4 M
Yea but that’s not the case for most ppl
Let’s say the average person makes $52k a year/ $1k a week. Their approximately going to take home $41,000 after taxes. Ofc these numbers aren’t as accurate because it’s just the average amount
Rent- $1200
Car note - $528
Insurance- $200
Food - $300
Gas - $175
Phone bill - $35
And if you make $1k a week and you save 20% that’ll mean your saving $800 a month
That would leave you with $2k left by the end of the year or $38 a week… god forbid you have a kid, a pet, a house/car repair, wanna buy personal items or go out anywhere. This will only work if you really make $75k+ but other than that the average American literally wouldn’t be able to
I’m started saving at the age of nine and now I’m 18 with a two story house with 20k in my bank account
That’s awesome!
I would be good on savings but taxes take away 30 percent of my income
I hear ya..
If I don’t need to put it in a savings well where could i put it and benefit the most from it?
Stocks. Invest i an exchange traded fund following s&p500
I have my savings in a savings account and I get $80 a month in interest
same yeeee
Don’t you want to make thousands? Invest!
Put money on index fund.
@@salravioli😂😂😂😂😂😂😂 man stop
So I am 16 and my parents told me that I have to buy my own truck.I currently have a 2012 impala my parents bought me but I want to save that car and not drive it in the winter but I might have to.Im trying to save 5k in 4 months.I need a job and am trying to get one but id work 25-30 hours in the week including weekends.i want like $11 or $12 an hour.My fuel cost with where im at is $3.30 roughly and i put $60 in my tank every 2 weeks.How do i save the most I can.
👍🏻thank you
👍
For me as a European: when they say 100k a year, is that after taxes?
Does that 20% include money put into your 401K and other investments, like index funds?
Yes!
💰 Certificates of Deposit 💰
220k, paid 90k+ tax, what do i have... $0
You must live near me.
Who makes 100k a year? 😮
Do you think that’s high or low?