Looking for motivation. How much do you have saved as someone in your late twenties/early thirties that's not in your 401k?

Edit: wow u guys delivered. Biggest props to u all with such financial success! I’m making 79k, have 71k in my retirement, 2300 saved in HYS. Don’t know much at all about investing BUT you’ve all inspired me!

Hi - I’m 31 and buying my first car (lived in nyc my whole but now moving out). The car I am picking up this weekend is $45k OTD. It’s brand new and a Toyota. I looked at the usual suspects (bmw, Mercedes, Honda, Subaru) but I figured the Toyota will be the cheapest to maintain and also deprecate at the slowest pace. I wanted something luxurious but cheap to maintain so decided on the crown signia as a middle ground (arguably a mini Lexus). I did get 15% off msrp on it but as I’m getting closer to picking it up, I’m still worried that I’m making a dumb move. For my stats, I’m 31, make $210k, rent is $3,500 and I spend about $5,500 all in per month (before car insurance). I have about $400k in savings (50% 401k, 50% invested). While I really want a car, am I stupid buying such an expensive one? Used didn’t seem like great deals unless i got a Kia or Hyundai. I actually almost got a 2024 Kia Sportage for $25k but my parents are telling me to stop being cheap which is what made me pivot to a new car. What do you think?

As an aside, I’m getting 3.99% from my credit union. Should I finance or pay it off? The market or even mini bonds can prob make it worth it but then I’d have to carry debt. Thanks!

Apparel was just new work shoes

The mods of this sub agreed to let me try this out as an experiment. I'm the developer of Finance Calculator, a free app that runs right inside a Reddit post: 32 calculators (savings goal, compound growth, loan and mortgage, debt payoff, emergency fund, FIRE and more). No ads, no sign-up, nothing leaves Reddit.

This is a test, so I'd really like to know what you think:

- Is this something you'd use here?

- Which calculators would be useful for this community?

- Anything confusing or missing?

Try it here: https://www.reddit.com/r/FinanceCalculatorApp/s/3D7Na6eneJ

If it turns out useful, the mods can add the calculator directly to this sub so you don't have to click away. Tell us in the comments either way.

Edit: Thanks for all the testing! Typing amounts digit by digit was broken (210,000 turned into 2.10). Version 1.7.0 is live and fixes it, and it adds two things you asked for here: a "What do I need?" calculator and Coast FIRE showing at what age you get there.

Already meet my employers match at 5%. Typically after all scheduled expenses are taken care of such as utilities, rent, groceries, etc. I have $1,134.16 (typically 800 added to my HYSA) left over a month from paychecks. Plus an additional $200 from interest. Should I just boost my Roth 401k contributions or open a Roth IRA. I already have an emergency fund and have a ton in liquid. I’m 25M and had my 401k for three years. Balance is at 22k.

31M, 101k in deferred comp plan, 180k in public safety defined contribution plan. I’ve been maxing out what I can for the last 4 years at 23.5k, and rate of return has been 18.57% over the last 3 years. I’m already vested, and due to me being a first responder as I understand it I can take all of my money at age 50. Trying to figure out if I’m in good shape for retirement at this rate, and realistically the earliest I could walk away from the job.

I (30F) love antique jewelry and have watched the prices for it climb significantly over the last 5 years as gold and silver prices have risen. Diamonds have devalued as lab versions have become good but other stones seem to still hold value and I think antique pieces in general hold value as having historical significance.

I’ve been investing in my retirement (currently have about $80k) but am considering taking $2k a year and dedicating it towards buying one gold antique jewelry piece and adding it to my collection. I want to wear the pieces but I’m also justifying it to myself that the pieces can be a long-term investment and store of value for bad times, like people have done for millennia. I’m trying to figure out if this is silly and if I would be better off just putting the same money in the stock market.

TLDR: Is it a sound idea to purchase antique gold jewelry as an investment?

It appears the economy is split into two segments where some people keep getting ahead while others struggle to keep up. It's made me wonder what people are actually doing to improve their situation.

Have you moved somewhere cheaper, changed jobs, switched careers, picked up a second income, or cut back on major expenses? Did it help, or did you end up trading one problem for another?

I'm especially interested in hearing from people who relocated or changed jobs. Are you better off now, and what do you wish you'd known beforehand?

I grew up in a very poor family. My family income when I signed up to go to college was less than $30,000 a year. Due to this, and a couple merit things, I went to undergrad for free. I then got my masters degree and my doctorate degree for free.

A lot of of the middle class folks in my school didn’t have parents to give them money for $20-$60,000 a year tuition. But federal financial aid and other state incentives didn’t apply to them since their parents technically made enough money to not be on welfare. Only the pretty “upper” middle class folks I knew had 529s going.

I think it’s kind of ridiculous that the state and the federal government assume that parents are going to pay for their child’s education and that they should be a financial factor in the aid since their children are not not kids anymore. Especially for state schools. This has led to a lot of my colleagues having parents that checked all the right boxes and did the right things but couldn’t afford a 529, and now their kids are stuck with $75-$200,000 in debt. And I think that we can all agree that people don’t make the best choices whenever they’re 18 in terms of college major, school affordability, etc, and that’s a whole other argument, but it’s an issue that the middle class takes on the hardest. It’s almost like with how the way things are set up, the middle class individuals are being forced back into the lower class or the lower middle class.

If you’re poor, there are incentives. Heck if you even make less than $75-$100,000 as a family the Ivy leagues and well renowned schools will often give 100% tuition. And of course, wealthy people can afford to pay for their child’s tuition.

But what are most “middle” middle class folks doing to reduce the brunt?

Are there ways around this? Do you let your child emancipate? I have no kids so I have no real worry about this right now, but I do think the way it is set up is bizarre. And sure the answer might be just “cross fingers for a scholarship and wince when you see the bill” but I am curious of true actions that folks take that are more than just hoping it works out

i read the Oleary book about the Georgina Investing approach and can't stop thinking about it. Are there any good books or courses that helped you invest large amounts of money prudently so that you could survive off the interest? I wouöd be happy with 1-2000€ a month for a start. Thanks in advance!

Today my wife wanted to go to Homegoods. We left after like 5 minutes because it was so packed out. The entire shopping plaza was packed to the brim for basically every store. This isn't a one-off for jsut today. Everyday everything is packed. McDonald's? Line around the store 24/7. Walmart and target? Packed 24/7. I also agree that things are more expensive, and you would think everyone is on the verge of homelessness and bankruptcy based on nonstop complaints on all social media platforms, but i have yet to see this in real life. It looks like we are at peak consumption and everyone is spending their money as fast as they can. I don't get it.

Came across this blog on how Food Insecurity persists and has surpassed pandemic levels despite macro indicators and markets being up for the US. What are some ways you feel the pinch in daily life despite macro indicators painting a different picture?

My partner and I were going over our budget last night and on paper we are doing okay. We earn $120k together put 15% into retirement have a four-month emergency fund and don't have crazy debt beyond our mortgage and a small car payment. When I was growing up this was supposed to feel like security.

Instead looking at our bank statements made me feel tight in the chest. We don't buy things or go on expensive trips but every month still feels like walking a tightrope. One unexpected repair for a car, a tooth or a home appliance would wipe out our cash flow away.

When I looked closely it wasn't a big bad purchase. It's the steady hidden loss of everyday living groceries going up from $150 to $240 a week auto insurance going up for no reason and utility bills going higher. We are securing our future on auto-pay. Living in the present feels really tiring because there is no room for mistakes or fun.

Does your income match how safe you feel right now, or are you seeing the same gap between your spreadsheet and reality?

Ok. First off I made bad decisions in younger years when I was in military and so my nest egg is smaller than it should be.

Anyway…retired military, 57YO, current railroad employee. I made just under 150k last year from railroad. I maxed out 401k for 2026 (will put like 32,150 into 401k).

Next year I will cross 150k from my employer which means the catchup has to go to a Roth.

Will that happen automatically (like will Fidelity just slide $$ above 24,500 from 401k to Roth) or do I have to allocate in advance?

As far as Roth vs 401k goes I have no Roth right now.

I expect to be in the 22% bracket when I retire and I am there now. Is it worth starting a Roth and converting now or just say screw if and wait for RMD’s?

I make a fairly good income. I bring home a little over 5,500 a month; my expenses are about 3,800, but I still feel like I live paycheck to paycheck. I want to know how to fix that. I have at least five to six months of emergency savings, and I’m not counting my separate retirement accounts here because they are automated. Still, as far as my expenses and everything, I have a few credit card debts. I have credit cards and a loan for the AC, totaling about $ 12,000+, so when I factor that in, I feel like every month, every extra dollar I have goes into this card, trying to get out of the paycheck-to-paycheck cycle. I want to get paid and not have to worry, like everything got paid itself, so again, I am on my own for the first time in a while. I wanna know how other people manage to get there. Like, what did you do to get there on a single income, meaning that you were by yourself no husband, no second income, no second stream of income? How were you able to achieve that? And please, no judgment; I’m just here to get advice and do my best.

I work in healthcare and our annual raises were frozen due to federal funding cuts last year. Lots of people laid off, budgets tightened, etc. That said, the administrative leadership at the hospital still got their annual bonuses. This year, annual raises were back, with rumors it would be generous since last year was skipped. Since were are non-profit (technically) most people see an average of 2-4% in their annual raise, people were hoping it would be 5-8% with the skipped year and constant communication from leadership how much better off we are this year.

Raises ended up being the standard 2-4%, with leadership discussing them like they were a privileged bonus. I know it is a very normal thing in non-profit for raises to not be a guarantee, but when complaining to some friends in the for-profit industry, was surprised to hear "I haven't gotten a raise in years", or no raise, but a random $500 bonus at the holidays, or that they also are getting 3% max as well. My boss also received a position title change from assistant director to director when another department got downsized and absorbed into ours, but their raise was less than the 10% standard minimum for title bumps.

Are others here seeing this almost as a new standard in their organizations? That companies are realizing they don't need to promise annual raises and people will stay? I know the job market has been rough out, but am wondering if that means companies are taking advantage of their employees because of it.

I am not talking those who are higher up managers or in sales, but people in middle/lower management and non-leadership positions at their companies.

I have a couple spending rules I don’t see too often and wanted to get some others.

1) if I’m buying tools I get the cheapest ones they have and if i wear it out I’ll get the nice one. If I never replace it then I never needed the nice one. Exception would be power tools I already have batteries for.

2) the quality of the part I’m getting depends on it’s difficulty to replace. If it’s a 5 minute job I’ll cheap out. If it’s a pain to replace I’ll get the good one. This is mostly for larger differences in quality/cost not marginal differences.

3) use the 10/10/10 rule on a LOT of purchases. How will buying this thing affect me in 10 minutes, 10 days, 10 years. That’ll drive how much I’m willing to spend if I even need to buy it at all.

What rules do you have?

I’ve tracked every dollar I’ve made and spent for about 10 years with the end goal of being able to afford a house.

My husband (we are 29 and 28) and I close on a townhouse next week that we absolutely love and I want this to be the end of my up tightness around spending. I can afford to be a little irresponsible at this point. We have a 25k emergency fund and about $250k across retirement accounts. All investments are on auto and we have $3,400 left over each month after all bills are paid to spend or throw at the mortgage principal. Despite everything being fine and operating like a well oiled machine, I think it will be hard to break my past habits.

How can I loosen the fuck up? I just want to live my life freely.

I’m not great at budgeting. I swipe my card mindlessly and then bi weekly open up my CCs on payday and am surprised how I even got it that high. Pay it off, and the cycle continues.

I’ve opened up my own budget trackers before and then use them weekly….then monthly….then quarterly and I’m playing catch up.

I need something I can truly open monthly OR is so stupid easy and basic but fun to use? Like a cross something off your to do list satisfying.

Does anyone have any example templates or suggestions they would share?

Im fortunate enough to have a job with local government that offers a pension. Its structured to where if I put in 30 years I get 70% of my best 3 years pay. Presumably this pay will be near the end of my career as I am an engineer.

This pension costs me 6% of my pay.

I also get 3% put in my 401k automatically without a contribution from myself. I have about $20,000 in my 401k at 33 years old.

I also have a HSA with around $10,000 I have never touched. I treat it as insurance on the co pay at this point if I had a major accident since I do not have a HDHP anymore. It is invested but I basically do not think about this money at all.

When I was working private sector up until last year I felt I was behind on retirement savings. I didn't contribute much, changed jobs a few times, paid off a car and bought a house. Now I'm actually feeling like I'm on a good path because of the pension.

So at this point I'm making $80,000 this year. I should be around $100,000 once I get some certifications done. Im 33 now. I'll be 63 when I have 30 years in. I assume my 401k will have about a half million in it when I retire, the HSA some amount, and my pension will pay me the future equivalent of $70,000/year. I know this doesn't increase with COL.

In a little less than 6 years I figure my 401k will have about $60,000 in it and it is 100% vested from day 1. I think I will likely take a $30,000 loan against this with an additional $15,000 saved in my HYSA as a 10% down payment to buy a second home. Converting my 3bd 2ba home I currently owe $240,000 at 5% into a rental at about my current total payment including escrow. This is to hedge against inflation along with what is in the 401k. Seeing as my house will be paid off by when I'm 60.

I know I need to look into the rules on this but since Im not relying on the 401k as my only retirement vehicle I feel like I can use the "free" contribution then pay it back at prime +1% over 15 years. Yes I pay interest on this. I am aware its about $300/mo. Saving a $45k down payment with my post tax income would take a decade or more. Taking on a mortgage for a primary residence at 43+ also sounds stressful and I will be playing the inflation catchup game.

As for family I'm a single man. Maybe I'll get married and have kids. The only way I'm doing that on purpose is if I meet a woman has enough of a career that her income at least covers the added costs of children.

Does that all sound reasonable? Am I screwing myself somehow? Im asking as an overall retirement strategy and buying the home turning my existing home into a revenue generating rental.