What percent of your income do you put away for retirement?

[pstall]

For those that have done flips. How much did you come out of pocket for that first one? I'm thinking of jumping in with some established guys but was curious of a ballpark #.

[jasonluckydog]

I have zero debt but 4 kids...haha...starts crying.

However I only owe child support on one kid for 16 more months or 16 easy payments of $500!!

I put 9% away company matches 5%, I do believe SS will be available in 23 years.

I want to retire at age 52 and live comfortably in Belize until Social Security kicks in.

[thefuzz]

For those that have done flips. How much did you come out of pocket for that first one? I'm thinking of jumping in with some established guys but was curious of a ballpark #.

 

Depending on size of group and what type house they want.

 

 

Be very careful with group investing, not that I have to tell you, but I have seen some bad stuff with real estate investing groups.

[pstall]

Depending on size of group and what type house they want.

 

 

Be very careful with group investing, not that I have to tell you, but I have seen some bad stuff with real estate investing groups.

I agree. You have to either really know some guys deeply or be prepared for the worst when it comes to money.

[Donald LaFell]

Interest?  What interest?

 

The only interest I can get... is the interest I'm paying to everyone else.

 

Srsly I get 2% at the bank and I think that's pretty good compared to most.

 

In a Money Market or a Savings account? That is a crazy good rate! 

[Jase]

In a Money Market or a Savings account? That is a crazy good rate!

It's a checking account. You only get the premium rate if you achieve a minimum amount of debit transactions per month.

[Donald LaFell]

I graduated in May 2014 and I just became elligible for my retirement plans at work. 

 

Right now I put 10% into my 401k(employer matches 4.5 percent which comes to about 300ish dollars per paycheck. 

 

We have a stock purchase plan that I'm participating in fully which is 20% of my paycheck, even if I cash it out immediately I should net a healthy 10%(after capital gains/income tax) profit. 

 

I will put the money I have from the stock purchases into these avenues in this order:

 

1. Maxing Roth IRA

2. Paying off any Credit Card Debt

3. Building up emergency fund(needs to be pretty big because I have a crappy car)

4. Paying off student loans. 

5. Stocks

6. Saving for a house

 

So at that the very least I'm putting 30% of my income into some kind of investment that I will net a return anywhere between 1 and 10%. I hope to get up to 40 or 50 eventually, I just need to move into a crappier apartment and pay off some debts from school. 

[pstall]

I graduated in May 2014 and I just became elligible for my retirement plans at work.

Right now I put 10% into my 401k(employer matches 4.5 percent which comes to about 300ish dollars per paycheck.

We have a stock purchase plan that I'm participating in fully which is 20% of my paycheck, even if I cash it out immediately I should net a healthy 10%(after capital gains/income tax) profit.

I will put the money I have from the stock purchases into these avenues in this order:

1. Maxing Roth IRA

2. Paying off any Credit Card Debt

3. Building up emergency fund(needs to be pretty big because I have a crappy car)

4. Paying off student loans.

5. Stocks

6. Saving for a house

So at that the very least I'm putting 30% of my income into some kind of investment that I will net a return anywhere between 1 and 10%. I hope to get up to 40 or 50 eventually, I just need to move into a crappier apartment and pay off some debts from school.

Good deal.

Man I would maybe dial down all your investing and demolish your debt first to increase your true overall return. Pad the emergency fund then AFTER your debts are gone go and crush your investing. Chances are you are getting no better than 8% in the market in the last 6 months.

Like told someone earlier. Kill those small onea first and roll from there. But that's me. Totally up to you of course.

[Donald LaFell]

Good deal.

Man I would maybe dial down all your investing and demolish your debt first to increase your true overall return. Pad the emergency fund then AFTER your debts are gone go and crush your investing. Chances are you are getting no better than 8% in the market in the last 6 months.

Like told someone earlier. Kill those small onea first and roll from there. But that's me. Totally up to you of course.

 

Market return has been awful for the most part. It's made me kind of impatient. My Roth is a Vanguard STAR(VGSTX) fund that has lost money for the most part. When it gets over 3k soon I would like to switch it to a Total index fund or a target retirement fund for a lower expense ratio. If I'm feeling adventurous I might switch to the Energy Fund(VGENX) while oil prices are still low!

 

My initial plan was to demolish all debt first, I will definitely demolish the credit debt(before I pay any interest in Nov 2015). My tax refund should take take of over half of that and cashing out my stock will take care of the rest. 

 

I also didn't list the 4400 dollars(3200 bro and 1200 parents) that I've owed my family from college expenses that I paid back which bit into my cashflow a good bit too(where a lot of the CC debt came from). 

 

I'm letting the Student loan debt hang around since it's only at at 3.86 percent, and on top of that I can deduct the interest paid off of my income. The stock purchases I have should hopefully return no less than 10%, and hopefully my other investments can grow over 4% with the economy improving. 

 

Also I definitely won't have the student loan debt for too much longer. It will be gone in 2 years tops. I shouldn't pay a crazy amount of interest on it.