Savings, 401 K, or do you live paycheck to paycheck

[LordCollector]

Just wondering if people here are saving/living paycheck to paycheck etc? If you have a 401K or savings, care to share how much you have saved up. If you'd care to break down your monthly expenses then feel free to do so. Who are the ones saving/spending money like water etc. LOL!!

 

[Massive Urethra Chode]

I live cash to cash

 

[neo_mao]

Paging HDR, paging HDR...

 

[Burning Blade]

After factoring in my rectal diabetes medications, I have just enough money left for an expired Snickers bar from Grocery Outlet.

 

[THEMAN]

About $60K in several bank accounts:
(US) Bank of America: $37.5k
(France) BNP PARIBAS: €5.5k. = $6.4k
(UK) Natwest: £10k = $13k
(Philippines) Banco de Oro: ₱200k = $4k

I don’t really have a lot of expenses except food and bills and the upkeep and maintenance of three properties: a house in QC Philippines, a condo in LA, and an appartment in a suburb in Paris. I hardly buy video games anymore like I used to. With the cash we have, my mom and I have plans on investing in property in Cali. We need to accumulate more cash though so we can buy property in cash. But with the cash I have now, I can definitely buy an apartment or 2 in many places in Europe as European properties are much cheaper than in the US. But we have plans though of buying in SOCAL but European property is there and well within my budget as a back up plan. But we’re going to be patient and keep saving for now.

 

[Neodogg]

How does one buy an apartment?

 

[HDRchampion]

About $60K in several bank accounts:
(US) Bank of America: $37.5k
(France) BNP PARIBAS: €5.5k. = $6.4k
(UK) Natwest: £10k = $13k
(Philippines) Banco de Oro: ₱200k = $4k

I don’t really have a lot of expenses except food and bills and the upkeep and maintenance of three properties: a house in QC Philippines, a condo in LA, and an appartment in a suburb in Paris. I hardly buy video games anymore like I used to. With the cash we have, my mom and I have plans on investing in property in Cali. We need to accumulate more cash though so we can buy property in cash. But with the cash I have now, I can definitely buy an apartment or 2 in many places in Europe as European properties are much cheaper than in the US. But we have plans though of buying in SOCAL but European property is there and well within my budget as a back up plan. But we’re going to be patient and keep saving for now.

Can you give an estimate how much property cost in Europe that you been looking at. Is it out in the country or actually near the cities. How do you do the upkeep, do you hire someone? Are you renting them out?

 

[Kid Panda]

How does one buy an apartment?

Buys the whole building I'm assuming. Become a slumlord.

 

[neo_mao]

Or he could mean like buying a unit in a condo and just renting it out

 

[THEMAN]

Can you give an estimate how much property cost in Europe that you been looking at. Is it out in the country or actually near the cities. How do you do the upkeep, do you hire someone? Are you renting them out?

Here's just some of the sites I've been looking at. With about €45-€50k you can buy an apartment in many places in Europe like in the South of France in places like Carcassone, Perpignan, Beziers, etc. There are apartments that cost between €25k-€30k on the Costa del Sol in Spain or in Calabria in the south of Italy both those regions are near the beach. There's apartments all over Germany with a budget of €45-€50k. Definitely can buy one in Rome or in Naples. Paris is more expensive. I am in a suburb and my appartment was €127k 34 square meters but in a really nice area with nice upper class homes and a lake nearby. My old appartment in Paris was €90k and 8 square meters (chambre de service/servants quarters). But we upgraded and moved to the suburbs. Here's a site I go to with a quick search within my budget in some cities in the south of France. https://www.bienici.com/recherche/a...urdes-65100?prix-max=45465&viagers-exclus=oui. In Italy here's a site I go to with a quick search in appartments in Rome under €50k. https://www.immobiliare.it/vendita-case/roma/?criterio=rilevanza&prezzoMassimo=50000 Here's a house in the south of Italy near the sea for €70k. https://www.gate-away.com/properties/calabria/vibo-valentia/zambrone/id/403708. Here's an appartment in a 12th century castle in the Leran in the south of France for €105k https://www.bienici.com/annonce/ven...=/recherche/achat/leran-09600?prix-max=105000. In Greece, you can buy appartents in Athens in that budget which is a major European capital: https://fr.tospitimou.gr/immobilier..._residential,price-high_50000,price-low_50000

I am currently in Paris right now. When I go back for good to the US I plan on having this appartment rented out. We'll definitely get a management company to look after the property if I'm going to be back in the US. But those are just examples of properties to be had in Europe.

 

[wyo]

THEMAN has got to be a troll account, right?

Dr Docking and Mr THEMAN

 

[neo_mao]

About $60K in several bank accounts:
(US) Bank of America: $37.5k
(France) BNP PARIBAS: €5.5k. = $6.4k
(UK) Natwest: £10k = $13k
(Philippines) Banco de Oro: ₱200k = $4k

I don’t really have a lot of expenses except food and bills and the upkeep and maintenance of three properties: a house in QC Philippines, a condo in LA, and an appartment in a suburb in Paris. I hardly buy video games anymore like I used to. With the cash we have, my mom and I have plans on investing in property in Cali. We need to accumulate more cash though so we can buy property in cash. But with the cash I have now, I can definitely buy an apartment or 2 in many places in Europe as European properties are much cheaper than in the US. But we have plans though of buying in SOCAL but European property is there and well within my budget as a back up plan. But we’re going to be patient and keep saving for now.

This is a helpful post, thank you.

It would be more helpful if you could please post your account numbers though.

 

[Fritz]

A savings account is useless now as the returns are a joke. Might as well put your cash in a shoebox under your bed.

 

[Arcademan]

A savings account is useless now as the returns are a joke. Might as well put your cash in a shoebox under your bed.

I agree. After all, you hear about people robbing banks every so often. You never hear of someone robbing a bed with a shoebox of money

 

[theMot]

I live in my uncles basement and live pay to pay. My greatest achievement in life is my complete Pal SNES collection which I keep on display in glass cabinet.

 

[Heinz]

I'm going to level with you all and say that I've been living out of my car for the past few years. Call it a personal experiment, I shower at the local aquatic/gym centre, cook out of my boot or use park bbq and look it's a bit rough but my overheads are so fuckin low I'm literally rolling in it. Being able to save almost my entire salary for the year has me just a couple years away from buying a house outright!

 

[HDRchampion]

Just wondering if people here are saving/living paycheck to paycheck etc? If you have a 401K or savings, care to share how much you have saved up. If you'd care to break down your monthly expenses then feel free to do so. Who are the ones saving/spending money like water etc. LOL!!

We have a little over $110k in the saving account. This is going to be used for a down payment for a house. I really dont want this sitting here not earning any money, but we have to be ready if a perfect house pops up.

Emergency fund - $50k, we have this in a CD 13month from a different bank.

Breakdown
$4 to 6k - monthly expenses
$1k - Kids College
$1k - Allowance
$9k - Maxout retirement funds & rest goes into mutual funds

Whatever is left over is divided to downpayment of the house, statchew, & cash on hand.

If there is no housing crash, i think we will just keep putting money into the down payment and eventually hopefully can pay cash for the house. Maybe some land might be available and just build later.

Here's just some of the sites I've been looking at. With about €45-€50k you can buy an apartment in many places in Europe like in the South of France in places like Carcassone, Perpignan, Beziers, etc. There are apartments that cost between €25k-€30k on the Costa del Sol in Spain or in Calabria in the south of Italy both those regions are near the beach. There's apartments all over Germany with a budget of €45-€50k. Definitely can buy one in Rome or in Naples. Paris is more expensive. I am in a suburb and my appartment was €127k 34 square meters but in a really nice area with nice upper class homes and a lake nearby. My old appartment in Paris was €90k and 8 square meters (chambre de service/servants quarters). But we upgraded and moved to the suburbs. Here's a site I go to with a quick search within my budget in some cities in the south of France. https://www.bienici.com/recherche/a...urdes-65100?prix-max=45465&viagers-exclus=oui. In Italy here's a site I go to with a quick search in appartments in Rome under €50k. https://www.immobiliare.it/vendita-case/roma/?criterio=rilevanza&prezzoMassimo=50000 Here's a house in the south of Italy near the sea for €70k. https://www.gate-away.com/properties/calabria/vibo-valentia/zambrone/id/403708. Here's an appartment in a 12th century castle in the Leran in the south of France for €105k https://www.bienici.com/annonce/ven...=/recherche/achat/leran-09600?prix-max=105000. In Greece, you can buy appartents in Athens in that budget which is a major European capital: https://fr.tospitimou.gr/immobilier..._residential,price-high_50000,price-low_50000

I am currently in Paris right now. When I go back for good to the US I plan on having this appartment rented out. We'll definitely get a management company to look after the property if I'm going to be back in the US. But those are just examples of properties to be had in Europe.

Ok cool thanks. Wow thats really cheap but that seem quite small to live in. i would be to claustrophobic. Do you have a job in France?

 

[Claudia Schiffer]

We have a little over $110k in the saving account. This is going to be used for a down payment for a house. I really dont want this sitting here not earning any money, but we have to be ready if a perfect house pops up.

Emergency fund - $50k, we have this in a CD 13month from a different bank.

Breakdown
$4 to 6k - monthly expenses
$1k - Kids College
$1k - Allowance
$9k - Maxout retirement funds & rest goes into mutual funds

Whatever is left over is divided to downpayment of the house, statchew, & cash on hand.

If there is no housing crash, i think we will just keep putting money into the down payment and eventually hopefully can pay cash for the house. Maybe some land might be available and just build later.



Ok cool thanks. Wow thats really cheap but that seem quite small to live in. i would be to claustrophobic. Do you have a job in France?

Why the fuck would you lock up supposed "emergency funds" in a CD? Even if they are staggered with multiple CDs...depending on the emergency you'd get hit with a penalty when you withdraw and the delay.

 

[HDRchampion]

Why the fuck would you lock up supposed "emergency funds" in a CD? Even if they are staggered with multiple CDs...depending on the emergency you'd get hit with a penalty when you withdraw and the delay.

Only penalty in a cd is the earnings. so even if I have to remove who gives a fuck, this just for emergency. I also have enough cash on hand to pay for emergency. I also have over $10k every month that I dont need to invest if emergency arise. I also have the $100k+ if I need it. Dont be dumb

 

[radiantsvgun]

No, I don’t live paycheck to paycheck. Not going to give any specific amounts about my savings, but you should always put something aside for when shit hits the fan.

Even if you are paycheck to paycheck, never too late to start putting some money away. Some shit will happen, it’s only a matter of time.

 

[Claudia Schiffer]

Only penalty in a cd is the earnings. so even if I have to remove who gives a fuck, this just for emergency. I also have enough cash on hand to pay for emergency. I also have over $10k every month that I dont need to invest if emergency arise. I also have the $100k+ if I need it. Dont be dumb

as far as i'm aware, the early withdrawal is a set fee of X number of days/months of interest. you have a 13 month CD and let's say the penalty is 3 months of interest. if you withdraw after 1 month into the CD, you'd still pay the 3 months of interest. the bank does shit with the money and counts on you to keep it there for a set period to do whatever hocus pocus they do. they aren't going to just let you off the hook for nothing.

also, why even call it an emergency fund? there is likely a delay in withdrawing and getting the funds available.

 

[lithy]

also, why even call it an emergency fund? there is likely a delay in withdrawing and getting the funds available.

Emergency fund is a pretty standard name for "the money we'll live off of for 6-12 months if we lose our jobs" it isn't necessarily for an immediate emergency like getting $20,000 in $100s to pay off the Libyans that ransomed your child, that's what credit cards are for.

I'm a hundredaire.

 

[Claudia Schiffer]

Emergency fund is a pretty standard name for "the money we'll live off of for 6-12 months if we lose our jobs" it isn't necessarily for an immediate emergency like getting $20,000 in $100s to pay off the Libyans that ransomed your child, that's what credit cards are for.

I'm a hundredaire.

meh, i suppose. i just call it savings when it's money i'm actually doing something with and emergency fund that i absolutely don't touch. either way, i'm pretty sure he's wrong on the penalty.

 

[Lastblade]

CD return is a joke, I can't believe people still use them.

 

[terry.330]

Protip: Don't talk about personal finance in depth with strangers. It's tacky and weird not to mention just a bad idea. Much like politics.