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Personal Finance 6w
Is 10% of your paycheck into savings enough?
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10
upvote 21 downvote
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Anonymous 6w

The much bigger focus should be how much you’re putting into investments

upvote 6 downvote
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Anonymous 6w

Short answer: NO

upvote 4 downvote
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Anonymous 6w

Nah

upvote 2 downvote
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Anonymous 6w

Yes i think so but basically the more you can put away the better, without totally denying yourself any enjoyment today for a future that isn't guaranteed. Most people save next to nothing (and in fairness may not even be able to) and don't even think about a rainy day or retirement until those best compounding years are in the past.

upvote 2 downvote
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Anonymous 6w

I put 10% into my HYSA and 10% into my Roth IRA

upvote 1 downvote
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Anonymous replying to -> #4 6w

Thank you

upvote 1 downvote
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Anonymous replying to -> #6 6w

The best and most underutilized investment vehicle available is to make full use of your HSA (Health Savings Account). Yes, it sounds weird, but hear me out. You can put in up to $4,300 in 2025 with pre-tax income so that part functions like a traditional 401(k). BUT you can then invest that amount and that growth grows tax-free like a ROTH 401(k) without having to pay the taxes up-front or at all. Literally the best of both worlds.

upvote 3 downvote
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Anonymous replying to -> #5 6w

0

upvote 1 downvote
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Anonymous replying to -> OP 6w

That’s an issue. The very best savings accounts right now are going to pay maybe 4% if you’re lucky which will barely beat inflation but the market has historically returned about 10% a year

upvote 1 downvote
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Anonymous replying to -> #5 6w

Wants an investment account

upvote 4 downvote