ProGolferWannabe
Recycles dryer sheets
- Joined
- Jan 14, 2012
- Messages
- 141
In the past I have seen posts here where people share/compare their savings rates. I have always been super impressed with the thriftiness of some of those who participated in discussions---lots of savings rates reported in excess of 50%. For us, we are at 30% (give or take a point or so)--I always thought that was pretty good until I started reading the posts here (sometimes ignorance is bliss!?)
Anyway, when I calculate my savings rate, I only count the money I am putting away for the long haul---basically retirement at this point. I am not counting money I am setting aside for purchasing/replacing cars, putting a new roof on the house, etc. I always felt like those sorts of items that I am "saving" for, are not really savings, but incremental expenditures that I am paying for on an on-going basis.
Not that it really matters (we are just categorizing different classes of "savings"), but for folks who report savings rates in the 50%+ range, when you figure your savings rate relative to your income, do you count "everything", e.g. even the money set aside each year to buy that new car 5 years from now, or do you just count the "longer term savings", e.g. money for retirement?
Really am just curious to get a perspective on how much I am saving relative to others here, and wanted to make an apples-to -apples comparison.
Thanks!
Anyway, when I calculate my savings rate, I only count the money I am putting away for the long haul---basically retirement at this point. I am not counting money I am setting aside for purchasing/replacing cars, putting a new roof on the house, etc. I always felt like those sorts of items that I am "saving" for, are not really savings, but incremental expenditures that I am paying for on an on-going basis.
Not that it really matters (we are just categorizing different classes of "savings"), but for folks who report savings rates in the 50%+ range, when you figure your savings rate relative to your income, do you count "everything", e.g. even the money set aside each year to buy that new car 5 years from now, or do you just count the "longer term savings", e.g. money for retirement?
Really am just curious to get a perspective on how much I am saving relative to others here, and wanted to make an apples-to -apples comparison.
Thanks!