Money talk :: - are you saving too much?

Marlee Kertzmann asked a question: Money talk :: - are you saving too much?
Asked By: Marlee Kertzmann
Date created: Sat, Jul 31, 2021 8:29 PM

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🚩 Money talk :: - saving too much?

He/we put $250/wk into 401k and another $100 into the Roth. I know that saving for retirement is important, but is it possible to save too much? Especially if it causes us to shortchange ourselves now? The real kicker is the tax thing. We put our huge refunds into our down payment savings anyway each year.

🚩 Are you saving too much money?

Saving too much money is certainly better than not saving enough. However, in rare circumstances — believe it or not — it might be possible to save too much money. An emergency fund that's too big

🚩 How much money should i be saving?

Did you want a simpler answer? No problem. Here's a final rule of thumb you can consider: at least 20% of your income should go towards savings. More is fine; less may mean saving longer.

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Money Talk > Spammer & Scammer Slammer: Author: Thread: vickywin On Probation Cash: $ Posts: 1 Joined: 09 Feb 2017 Location: texas: Are You Saving Too Much? This thread has been edited and moved here as it does not conform with the forum rules.

He/we put $250/wk into 401k and another $100 into the Roth. I know that saving for retirement is important, but is it possible to save too much? Especially if it causes us to shortchange ourselves now? The real kicker is the tax thing. We put our huge refunds into our down payment savings anyway each year.

Growing your money: While overspending is a vice and can hurt your future, saving too much is also a problem, and can hurt you and your loved ones at present MONEY is an emotional driver.

Saving money is awesome, don’t get me wrong. But too much of a good thing can be bad for you, and this is no different. I absolutely love saving money so I will be the first to tell you I get inspired when I read about super savers saving 30%, 40% even 50% of their income. I think that is pretty amazing, but everything comes at a cost, and that is what I want to address in this article.

Here are three instances where saving too much could be a problem: Overfunding your emergency fund. Most financial professionals suggest having 6 – 12 month’s expenses in an emergency fund in case of any unexpected expenses. Having more than this amount could be costing you money, especially if you are also carrying high interest debt.

Yes, saving too much can hurt you. The first bit of financial advice you probably received in your life was to save as much money as possible for a rainy day.

MONEY is an emotional driver. Having too little may be the source of your unhappiness, but, having too much can also cause you a fair amount of stress! In the field of financial planning, I usually find myself in the position of advising my clients to live within their means in order to save enough… Read More »Insight – Are you saving too much?

KOTLIKOFF: I'm talking here about these companies recommending five times too much saving and five times too much life insurance. So the risk there is that people will squander their youth rather ...

Growing your money: While overspending is a vice and can hurt your future, saving too much is also a problem, and can hurt you and your loved ones at present MONEY is an emotional driver. Having too little may be the source of your unhappiness, but, having too much can also cause you a fair amount of stress!

And this brings us to a new headline-grabbing theory pushed by a number of academics and economists who say American investors are actually saving too much for retirement. The "saving-too-much ...

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