...I hit the 100,000$ mark. I know it might not seem like a lot to you, or it may seem like a ton to others. Regardless, I've worked hard to save this and I am proud!
I just transferred money to my savings account...and....
|by Anonymous||reply 44||01/22/2013|
What good will that do you when you are dead?
|by Anonymous||reply 1||01/21/2013|
|by Anonymous||reply 2||01/21/2013|
Yea congrats OP. Money can go fast if you have a sudden downturn. So keep saving.
|by Anonymous||reply 3||01/21/2013|
Well, congrats, but why is it in savings? Have you thought about investing some of that? Diversify!
|by Anonymous||reply 4||01/21/2013|
Good for you. Keep it going!
|by Anonymous||reply 5||01/21/2013|
Congrats big time, OP! That's a hell of a lot to me.
May I be super nosy and ask what your annual income is? (I realize that's incredibly gauche but, hey, this is an anonymous board)
Also, how long did it take you to make build up your savings to $100K?
I lost my job in the past couple of years and only recently got hired from something new but it pays a third less than I was making before. I'm grateful to have a job and benefits again but I'm not in a position to save very much. so it's going to take me YEARS to build up my savings back to even 5 figures. Depressing, but true.
At any rate, I admire your ability to put that much away.
|by Anonymous||reply 6||01/21/2013|
Good for you, congrats on your huge achievement!
|by Anonymous||reply 7||01/21/2013|
Way to go, OP!
|by Anonymous||reply 8||01/21/2013|
Congratulations! I'm in a similar situation. I have a bunch of money in a money market account (close to $200K) because I'm risk-averse. But nowadays you get so little interest, it's a joke.
|by Anonymous||reply 9||01/21/2013|
Thanks! R6, my husband and I together make about $170,000 combined. However, we both have education loans, which has eaten up plenty of money. It took us about four years to save this, while also trying to save more in retirement accounts.
|by Anonymous||reply 10||01/21/2013|
That is so cool, OP!
|by Anonymous||reply 11||01/21/2013|
Can I get a loan, OP?
|by Anonymous||reply 12||01/21/2013|
I've got over $100,000. I'd have even more, but escorts have sucked up about $25,000 (while I sucked them off).
|by Anonymous||reply 13||01/21/2013|
Oh, good. Let's talk about money. (But I will cast you a fleeting glance of approval as they clear for the next course, OP.)
|by Anonymous||reply 14||01/21/2013|
Congratulations, OP. I'm glad money means so much to you.
|by Anonymous||reply 15||01/21/2013|
That's ironic, cause I am $100,000 in debt...such is life.
|by Anonymous||reply 16||01/21/2013|
|by Anonymous||reply 17||01/21/2013|
OP, congratulations! You are very smart because in this economy, (and possible economic downturns of the future) one needs to be financially prepared.
The bottom line is no one will (or perhaps should) provide long term help beyond unemployment insurance and believe me that is not enough to sustain oneself.
I have been unemployed for 14 months (just writing that seems insane to me) and I can assure you the money can disappear quickly.
Along those lines, R13, OMG!!! Those must have been some damn good escorts! I admire both you and the OP, lol.
|by Anonymous||reply 18||01/21/2013|
Time to buy real estate.
|by Anonymous||reply 19||01/21/2013|
You should be proud but don't keep more that $100,000 in one account. I hope you can save a couple of million and retire early. Well, that's what I would do.
|by Anonymous||reply 20||01/21/2013|
That's so wonderful, OP. I am so happy for you. I wish you future prosperity and happiness.
|by Anonymous||reply 21||01/21/2013|
Do you already own a place - or are you saving for a house/condo?
|by Anonymous||reply 22||01/21/2013|
I have about $110K in a retirement account. I keep thinking I could buy that new Corvette but I have to wait till I'm 65!
|by Anonymous||reply 23||01/21/2013|
R23 59 1/2
|by Anonymous||reply 24||01/21/2013|
How old are you op?
|by Anonymous||reply 25||01/21/2013|
Congratulations! I admire your ability to put money away. It is a good thing.
|by Anonymous||reply 26||01/21/2013|
|by Anonymous||reply 27||01/22/2013|
Wow. Congrats OP, I'm a decade older and don't have nearly that much. I wish I'd been as thrifty in my 20s.
|by Anonymous||reply 28||01/22/2013|
I am struggling to put $5k in my savings account. Everytime I get there, something happens or a family member needs a loan. I could probably do it if I was more frugal. I know I waste money on stupid things.
OP, you have encouraged me to put more money in my savings account starting today!
|by Anonymous||reply 29||01/22/2013|
The money one saves when living in Mother's basement!
|by Anonymous||reply 30||01/22/2013|
Get an investment adviser. You can probably save more than you realize, by learning to live on somewhat less (through automatic deductions for retirement and other savings accounts). It's mildly painful at first, but pays off handsomely in the end.
I started saving seriously when I turned 50; my adviser transformed my finances. I now face old age with a comfortable nest egg.
|by Anonymous||reply 31||01/22/2013|
OP here. Thanks for the kinds words! And no, I don't live in someone's basement -- rent a two-bedroom apartment, not in the middle of the city, but in a decent and fun-enough area with good prices!
|by Anonymous||reply 32||01/22/2013|
Greetingses, most prudent of homosexualists!
I have needings of your assistance for which I will pay from you $100,000 for to accept check of $675,000 for which I will share $75,000 of your generosities.
For to be providings the account number and socials of security numbers to me, a high ranking cabinet throbbings of the member of Royal Sudanese families.
Upon my arrival in New York, I will visit upon you with my brethren and deliver up into yourselves loads of Sudanese richnesses beyond the fathomnesses.
Click, click, whir, Shebunkidunk, Odudoyay Smith III
|by Anonymous||reply 33||01/22/2013|
Who the fuck cares? So you squirreled away $100k... big fucking deal. Go brag to your friends, we don't give flying fuck.
|by Anonymous||reply 34||01/22/2013|
[quote]I have a bunch of money in a money market account (close to $200K) because I'm risk-averse. But nowadays you get so little interest, it's a joke.
Dude I think we're the same person. I also am approaching $200k, and it's nearly ALL in a MM fund making me a whole 1% minus taxes. I used to LOVE buying and selling stocks...until 2008. Now I'm once bitten, twice shy and I can't bring myself to get back into the market (especially now that it's essentially doubled since the crash...way late to that party). I worked and saved infinitely too hard for my money for it to be jeopardized by the vast corruption going on in the world around me. I've been considering just paying cash for a piece of real estate but even that scares me (although for different reasons--real estate would be a huge commitment for me).
[quote]You should be proud but don't keep more that $100,000 in one account.
Why not? FDIC insures accounts up to $250k now.
|by Anonymous||reply 35||01/22/2013|
R33, have we met? LOL.
|by Anonymous||reply 36||01/22/2013|
I had 30K saved last year and now it's gone. Things and situations can change OP, but it's good to have the $ when you need it.
That being said, what was the reason to come here and post about it?
|by Anonymous||reply 37||01/22/2013|
Sigh. I am 45 and have next to nothing. Mix of passivity and bad luck.
But if I did I would not keep it in a savings account. Next to zero compound interest and all that.
|by Anonymous||reply 38||01/22/2013|
Everybody needs at least 20,000 for emergency funds. Open an account and transfer a little bit every two weeks.
|by Anonymous||reply 39||01/22/2013|
Great OP. earning .0003%. That's awesome. LOL
|by Anonymous||reply 40||01/22/2013|
Better than -% in the stock market.
|by Anonymous||reply 41||01/22/2013|
The sleep test does apply to all savings and investments. If OP can sleep at night without worrying about his money, it's the right place for him/her to store it.
This rule applies to real estate, mutual funds, stocks, and loans to friends or family (don't tell your family or friends about the money, OP!)
Plus, it allows some calmness in the working environment. Others may shit bricks over potential lay-offs, but OP has some cushion if the axe falls.
|by Anonymous||reply 42||01/22/2013|
[quote] Better than -% in the stock market.
Which stock market is that? The one in which you buy high only to then pull out every time it hits a big low?
|by Anonymous||reply 43||01/22/2013|
great job OP but unless you are have a huge interest rate you are losing to inflation. Are you in any investments?
|by Anonymous||reply 44||01/22/2013|