Highest money you saved? vol Richy rich

[townbidness]

I bought some LTC a while back but only came up like 2k . I sold when it was back to my initial investment .

 

[Mark Antony]

Off topic. Do y'all tell your parents or siblings how much money you have or make? I don't divulge that information to anyone

No that sets expectations. For some reason if people hear a salary they think you have that entire amount available.

 

[heatpinoyboy]

Currently right now. Starting my career (in my mid 20's) and have about 10k in my 401k thanks to my employers matching 50% + around 15k in my savings.

I need to spend some time learning about how to smartly position my savings elsewhere. Any tips for someone completely green and getting into personal finance?

 

[stuntman mike]

most I have ever saved up is whatever I have now. my wife keeps track of it all because i'm the kind of dummy that will buy dumb ****. since we got married and started having kids, she helped me buckle down and use our money wisely. we own our condo so right now i'm the only one working and we do ok since we don't have a mortgage payment to make. if I buy shoes (rarely) it's usually under retail/ on clearance.

 

[shoefreakbaby]

5 racks. Right about now. This situation and not having a girl is helping my pockets

Being single save lives and money

 

[TimelessClassic]

Having roommates for most of my 20s saved me tons of money. Plus, my car was an old Honda Civic that I paid for in cash and worked great. No monthly car payments and good on gas. Only used a credit card to pay off stuff I could afford and needed (ex: gas, groceries, occasional clothes, etc.)

Sometimes you just gotta lay low for a few years, live at home with the parents or roommates, have a basic ride, and keep working your 8-5 job. Let the bank account grow and then you can start making moves.

 

[cs02132]

I decided to stay home instead of moving out so I could save up and maybe buy house

but with these prices in Boston

Idk about that

 

[fluid hips]

If you can’t trust someone with a joint bank account, you should not be marrying that individual.

Things don't always manifest themselves right away. It takes months, years etc.

Then you throw in variables beyond your control

If you buy a car that's working today. Doesn't mean it won't break down tomorrow, next week, next year etc.

 

[sneakaprince]

Currently right now. Starting my career (in my mid 20's) and have about 10k in my 401k thanks to my employers matching 50% + around 15k in my savings.

I need to spend some time learning about how to smartly position my savings elsewhere. Any tips for someone completely green and getting into personal finance?

Not for nothing traditional banks are ****. I switched over to a crypto based lending platform for a decent percentage of my total savings. The platform Nexo.io pays 8% interest per year which is like 1000x better than what I was getting at a traditional bank. They also pay out their interest daily. So you roughly get 1/365 of your 8% interest added to your account daily (now there’s some additional metrics in here because they are technically using a compound interest formula but so what), 1 day on Nexo paid out more than 1 month in a traditional bank with the exact same amount of bread.

I’m using Nexo for my joint account with my fiancé right now in order to save for our wedding. She isn’t really as financially minded but I’ve been using this as a medium to get her more familiar.

I was already into crypto for a couple of years so this was an easier sell for me but it’s definitely a viable option that most people aren’t aware of.

Forgot to add don’t even consider that 401K money at your age bro. Just keep letting it build unless u run into a life or death emergency, or you’re on your last leg. Trust me when I say u will appreciate that advice as you get older. heatpinoyboy

 

[FThe45th]

No offense, but I see you in the Supreme thread every week so this post has me confused.

yea man.. **** is real bad out chere, and i just found out about the job this week. lol. but i mean its hurting to me. and I've been dead *** broke and i aint tryna go back.

 

[waitwut]

Off topic. Do y'all tell your parents or siblings how much money you have or make? I don't divulge that information to anyone

family yes friends no
i only talk about it if making more $$ is involved

 

[アミーゴ]

Y’all shouldn’t include 401k as savings - happy to help on some guidelines if needed

 

[feeninlikejodeci]

100K. It all went to new house downpayment.

Do you live in a gated community or something?

 

[ICE CITY CF]

Not for nothing traditional banks are ****. I switched over to a crypto based lending platform for a decent percentage of my total savings. The platform Nexo.io pays 8% interest per year which is like 1000x better than what I was getting at a traditional bank. They also pay out their interest daily. So you roughly get 1/365 of your 8% interest added to your account daily (now there’s some additional metrics in here because they are technically using a compound interest formula but so what), 1 day on Nexo paid out more than 1 month in a traditional bank with the exact same amount of bread.

I’m using Nexo for my joint account with my fiancé right now in order to save for our wedding. She isn’t really as financially minded but I’ve been using this as a medium to get her more familiar.

I was already into crypto for a couple of years so this was an easier sell for me but it’s definitely a viable option that most people aren’t aware of.

Forgot to add don’t even consider that 401K money at your age bro. Just keep letting it build unless u run into a life or death emergency, or you’re on your last leg. Trust me when I say u will appreciate that advice as you get older. heatpinoyboy

I trust you've done your due diligence on the company behind Nexo?

8% return with interest paid out daily sounds too good to be true.

Risk tolerance for something like a savings account or an emergency fund should be extremely low.

 

[pitman13]

Y’all shouldn’t include 401k as savings

 

[D.Josey]

I trust you've done your due diligence on the company behind Nexo?

8% return with interest paid out daily sounds too good to be true.

Risk tolerance for something like a savings account or an emergency fund should be extremely low.

Yeah, I don't know about that one.

 

[sneakaprince]

I trust you've done your due diligence on the company behind Nexo?

8% return with interest paid out daily sounds too good to be true.

Risk tolerance for something like a savings account or an emergency fund should be extremely low.

In my opinion anything crypto related requires a bit due diligence on your own behalf. However, yes I’ve been using Nexo for a while I can 100% confirm the interest is paid out on a daily basis.

I’ve never been the type to put all of my eggs in one basket so while I do use Nexo as a saving account I also have a solid amount of money in physical cash and in a “traditional” savings account.

Here are some similar online high interest savings accounts for those interested. My money is still on and in Nexo literally but if you want to start seeing some better returns on money that you are holding you could start with these

Ally vs. Marcus: Which high-yield savings account is best?

Not all high-yield savings accounts are created or managed equally. Here's a breakdown between two of the most popular ones.

www.cnet.com

 

[sneakaprince]

For those who don’t feel like reading you can check this



not an ad nor my vid by the way. Just want to help those like myself who may have large amounts of money sitting at any given time.

 

[townbidness]

Ally is pretty good, savings rates were over 2% before the pandemic.

I also got a Roth IRA with them.

 

[mrtarheel]

For those who don’t feel like reading you can check this



not an ad nor my vid by the way. Just want to help those like myself who may have large amounts of money sitting at any given time.

Interest paid daily? Sounds nice!

 

[mrtarheel]

Y’all shouldn’t include 401k as savings - happy to help on some guidelines if needed

Please!

 

[Belgium]

€348k

 

[sn00pee]

Honestly, as a single individual living in a major city, making anything under 60k and trying to save is really difficult without being really frugal.

 

[BIG LEEMELONE]

アミーゴ always been kinda curious, did you start from scratch or did you have some opportunities waiting for you when you came of age? Not hating either way

 

[ybyb20]

I think ecook0808 mentioned he works for a FAANG or did at one point so he prolly makes good money even by Silicon valley standards.