Is saving $10,000 a year a good thing ?

Not knowing where you live, how old you are and where and what you want to do when you retire, there is not enough information.

15% of your income per year after all your debts are paid off

HSA accounts have contribution limits. There are online calculators to see if your savings are on track to reach your retirement goals. Really generally speaking, if you can live off of 4% of your savings per year assuming your savings grows at least 4% in retirement, you have enough money. My numbers could be off a little. Suzie orman a fininacial guru claims everyone needs about 4 or 5 million to retire. She tried an experiment by retiring backwards by not doing stuff and now thinks retirement is for the birds or for those with over 4 million.

A number of financial experts say that most will average over $200k in medical bills after retirement. I don't know if they claim that is after insurance or before. If your retirement date is 2056 or later, forget about it, Armageddon will happen first. I would bet on it but I doubt I will live that long.

Most sites such as Fidelity have calculators to help you. I think setting a figure on which you can live on the interest and not touch principle is a start. Say 3 mill at 4% gives you 120k in income less inflation and taxes. My goal is 4 mil by the timeI an 59 which means the next 5 years better be good.

Thanks for the advisory guys ill look into those things

10k a year, haha that's funny, literally the amount i take to da club to make it rain every weekend.

Short answer, it’s a good thing. Do a little more if you can.

15% of your income, generally.

Dave Ramsey. FtW

I'm making $30,000 so I'm saving a third lol

I'm serious considering a second job that should get. Me close to $60,000.

With no other info (amount already saved, age, retirement date and plans), I'd say $10,000 is a good amount. Coincidentally, it's also what I save annually (with company match). I had to decrease my contribution last couple of years due to home improvement expenses, but after more than two decades of saving and investing I'm fortunate to be in good shape at age 53. Plus, I also plan on working to at least age 65, maybe longer, since I'm by myself and have nothing else to do, so I'll continue to accumulate money for pussy, which is basically my retirement plan in a nutshell.
One piece of advice I'd give you is to stay the course. Don't panic and sell in a downturn, no matter how bad it looks. I, and I'm sure others here, weathered two market collapses (tech bubble in 2000-02 and housing market in 2008), which are always great buying opportunities.

Forty percent of people have no savings. Zero. Zilch. They are one car mechanical problem away from going under. That’s why pawn shops and car title loan places exist.

So, if you have $10,000 saved, you are above average.

Depends on much you spend, or more specifically how much you're living off. Living off 10k then it's great, living off 100k not quite as well.

Invest 50 percent, retire in 17 years.

In terms of both accounts - I’d recommend doing a little research and finding the contribution limits per year (on a pretax basis). Shoot for the max in both accounts.

The pretax contributions will help to lower your taxable income - while still increasing your savings.

Based on your enjoyment of gentleman’s pursuits, that carry a higher risk - gambling, greasy chacken, four loko, and whores - I’d recommend a mid to low risk investment.

Just remember to leave enough money for gas! I know you’ve forgotten that in the past!

Dude you need to spend that shit. You'll never be this young again. All these dudes saving for when old and their stuff don't work anymore. Fuck that shit.

Lmfao

Yes

Yes it's a very good thing.

it depends or your rate of return. anything less then 3 percent youre taxing a hit due to inflation. pay off all debt then save.