What is the minimum % of your income that should be saved while you're 20-40yrs old?
Discussion
Save in what?
atleast 70%
Of a quadrillions.
What you need to buy? Continents?
Well, if having the spending power now that everybody are unemployed again.
ser - an average house cost a 35-40x the basic salary. this is only you end up at a good job/business. otherwise just a dream.
healthcare is damn expensive, when you have parents getting old- you wouldn’t keep on spending..
🤞🏻
Employment is liberating, but spending as a must is hard work when needing to work for the money.
ofc ser, but that depends on how you define hard work.. ✌🏼
10%
depends on living expenses- as much as possible into sats
saved a minimum of 15% annually for the past 20yrs.
I would say minimum 10%. But depends on your income.
10% with 1200€ paycheck may be to less 😅
But that’s easy to say, it’s getting harder these days.
15%
No idea but 20% of my 9-5 checks go right into bitcoin biweekly.
🫡
One percentage for every year.
your answer is in the book "richest man in the Babylon"
Read this book over 10 times.
My purse is overflowing
There are no hard rules. It depends on many factors.
- Where you live and housing costs. Pick somewhere that meets your needs. If you work from home, you have way more options. Try to avoid commuting. Depending on traffic, it can be unpredictable and stressful. I live in the Vancouver, BC area and we have always been mortgage poor. After the last of my kids have graduated high school, we most likely will leave to have more freedom and less stress.
- Spend discretionary money on what you value. Seems obvious, but many live beyond their means to not miss out / keep up with friends and family. This will kill ability to save.
- Whatever you manage to save, outside of an emergency fund, invest appropriately. Don’t degen most or all of it. The lure of massive gains usually sets up pain and regret. Lessons none the less, but in essence, protect and preserve your capital first. Don’t get greedy.
80%
Minimum of $1k per month dca into Bitcoin and index ETFs. Retire with 40-50.
40:30:20:10 rule
40% towards savings
30% towards necessities
20% towards discretionary items
10% contributory activities , if any
50, if you can't then focus on increasing your fiat mining abilities.
It’s your expenses that should follow a logarithmic curve based on your increased income. Then a capped rainy day amount held on a liquid form (maybe fiat). Rest saved (on sats).
Should 20%. Realistic 8-15%
IMHO, 10% of your before tax income is a good target.
Focus first on having a liquid emergency savings (not Bitcoin) you don't want to HAVE to sell Bitcoin to pay for emergencies.
Then once you have your 3-6 month emergency fund, focus on reducing unnecessary expenses.
At that point. All your (post expenses) Fiat belong to Bitcoin.
Ok, so you want a % so you have a goal? 30% pre-tax income.