How much should savings should Actuarial Students have by Age 30?

[Simply Brilliant]

Originally Posted by annuitize

I'm having trouble with that one too. I have 43K in my checking account earing i = 0%; i^real < 0 assuming i^inflation > 0.

Why don't you have a high yield savings account yet, not to say that would be much, but 1% > 0%

[Simply Brilliant]

I'm not 30 yet and have achieved this goal. The question I ask myself though, after struggling to get my emergency fund together, and then it coming together rather quickly, whats the point of saving?

BIG Emergency fund? Check
House down -payment? Check (even though I have no desire to own one)
?????????

I'm not implying the point is to blow money on useless crap, but more of after saving all of this money, what do you use the funds on to create enjoyment out of life for yourself from it?


How did I miss this thread this whole time.

[oofta]

For me, annual salary<college loans debt. My parents were poor, but not poor enough to get me financial aid. It'll be a while before I build any amount up.

[Simply Brilliant]

Originally Posted by oofta

For me, annual salary<college loans debt. My parents were poor, but not poor enough to get me financial aid. It'll be a while before I build any amount up.

I was in the same "poor" boat. Went to a public university, and worked full time through out college and came out with little to no loans. I regret not taking out more, I should have traveled abroad instead of looking at the cost of that, and partied a LOT more, instead of other stuff.

[Simply Brilliant]

Originally Posted by ADoubleDot

Ill be 30 later this year and this thread is depressing.

I figure I am worth about $10K on paper. I calculated my house purchase price (a year ago) as the worth of that minus the PV of mortgage. That's $5K. The 401K and the stu loans basically cancel eath other. then $5K in cash/bonds. I suck at life!

Your post just put a smile on my face, this is supporting my feeling once again for not wanting a house right now.

[The President]

Originally Posted by Simply Brilliant

BIG Emergency fund? Check
House down -payment? Check (even though I have no desire to own one)
?????????

I'm not implying the point is to blow money on useless crap, but more of after saving all of this money, what do you use the funds on to create enjoyment out of life for yourself from it?

1) Pay other people to do stuff you don't like doing
2) Home improvements (once you own a home)
3) Hobbies - golf, travel,
4) A nicer car
5) Give it to your favorite cause

[hellomath]

Originally Posted by The President

1) Pay other people to do stuff you don't like doing
2) Home improvements (once you own a home)
3) Hobbies - golf, travel,
4) A nicer car
5) Give it to your favorite cause

Use your $ to make more $. Buy stocks during dips. Buy investment properties.

[asdfasdf]

Originally Posted by hellomath

Use your $ to make more $. Buy stocks during dips. Buy investment properties.

Given that the initial problem was having too much money, it's not clear how making more money would help....

[Guerilla poster]

Originally Posted by ditkaworshipper

Let's see, no company match for me, so I'm not throwing money into 401K because I don't trust the tax advantage to hold for my retirement. Roth IRA - plan to max that out each year from here on out until I buy a house, then I'll make a decision on whether I want to eliminate liquidity and trust gummint for retirement savings like that.

So far, I have to say that my 20%+ returns on this stuff are pretty awesome. I don't think this is a sustainable trend unfortunately, but this is a real easy market to make money in.

Agree, I don't think 401k makes sense unless you are getting a match. Big bet that tax rates won't increase plus money is locked in. As long as you are disciplined enough to save for old age without it.

[hellomath]

Originally Posted by asdfasdf

Given that the initial problem was having too much money, it's not clear how making more money would help....

Use the extra $ to retire early.