76% of Americans live paycheck to paycheck. Are you one of these folks?

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Not saying a lot of people aren't living paycheck to paycheck but those #s can often times be very deceiving. Sometimes published savings rates don't include deferred comp contributions and stuff like that.

There are just different ways of measuring that and it can sometimes make it sound worse than it is.
 
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Not saying a lot of people aren't living paycheck to paycheck but those #s can often times be very deceiving. Sometimes published savings rates don't include deferred comp contributions and stuff like that.

There are just different ways of measuring that and it can sometimes make it sound worse than it is.

Good point. I essentially live paycheck to paycheck but by no means am I starving. The portion of my paycheck that goes to my checking acct is only enough to cover my day to day needs. Most of the time I only have a few hundred dollars in there.
 
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I don't live paycheck to paycheck, but over 7k a month goes into my retirement. Those totals grow every year as well as long as I keep working. When I retire in around 7 years I'll be doing great.
 

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I don't live paycheck to paycheck, but over 7k a month goes into my retirement. Those totals grow every year as well as long as I keep working. When I retire in around 7 years I'll be doing great.

That is a very large amount.

Think mine is roughly 1K if that.
 
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That is a very large amount.

Think mine is roughly 1K if that.

When I hit my 20 three years ago, I entered into DROP. The city basically sends my monthly retirement check into my DROP account, while I also continue to contribute my monthly pension dues into the DROP account as well. That is around $330 a paycheck. That account earns a guaranteed 7% this year, along with an interest payment of around 1k a month. The DROP account can never earn less than 3% in a year. Throw in my COLAS and it all adds up very quickly.

I also put a little over $900 a month into my 457k account.

I'll probably either do 30 to 33 years and then retire. It all depends on how my kids are doing.
 

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I think that's no is rather low. I would say above 85% is more likely.

When you have a stable/secure job, nothing is wrong with living from paycheck to paycheck.
 
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One thing I will stress to all of my kids is to start saving for retirement very early. It's amazing how that balance grows quickly over time.
 

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One thing I will stress to all of my kids is to start saving for retirement very early. It's amazing how that balance grows quickly over time.

Think my wife contributes $250 to retirement each month and they contribute $500 for that $250.
 

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I am right now. I refinanced about a year ago or so, though it would be easier than it is. I'm moving soon, plan on doing a lot of cuts in my own budget.
 
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Think my wife contributes $250 to retirement each month and they contribute $500 for that $250.

Unfortunately I have a 457k through my employer, so every dollar put in is my own. The contributions do go in pre-tax, which helps around tax time.
 
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I am right now. I refinanced about a year ago or so, though it would be easier than it is. I'm moving soon, plan on doing a lot of cuts in my own budget.

It's crazy when you really look at how your money is spent. Cell phone bill is around $350 a month, cable around $240 a month. That's around $7080 a year for phones and cable. Throw in eating out and everything else and it's expensive with a family of six.
 

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People spend more when they make more.


There are a lot of people who make $100,000 a year and live check to check. We make above that amount per year and we live check to check a lot of times
 

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No

I don't have a regular paycheck to live by :)

And if I did, I be fucked
 

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If you don't work for two weeks, you have no food. If you don't work for one month, you have no money to pay rent.

I don't think that's what the story meant.
I would be shocked if that's the case for 76%.

I think ink just about everyone has a 401k or IRA of some sort
 

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