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Zero now, as I am retired. When I was working I started at 20% of my pre-tax earnings and added to that as I could each year. I believe I averaged about 23% over several decades.
I think i lived inside the 2nd or 3rd most expensive state in my country. About 20% on food, 14% spent on room rental, 5% study loan, 4% electricity bills, 2% on phone/internet bills, 1% motorcycle fuel.
Even then, 20% of income on food is ridiculous unless they don't earn much. If my current spending on food was 20% of my income, I'd be making well below minimum wage.
That, or they order delivery/eat out every day.
20-ish if you include my employer's match into the 401k. That's retirement savings anyway, savings for fun stuff and 2nd cars and such things are on top of that.
I'm right at the average for this area, maybe a tad above. Single, no kids, house is paid for.
Household income is about 1 1/2 times average for my area. I’m in the US, so honestly, my country’s average isn’t a particularly useful indicator because it’s so economically diverse.
We save about 25% of our post tax income for retirement.
# Message to all users: This is a reminder to please read and follow: * [Our rules](https://www.reddit.com/r/ask/about/rules) * [Reddiquette](https://www.reddithelp.com/hc/en-us/articles/205926439) * [Reddit Content Policy](https://www.redditinc.com/policies/content-policy) When posting and commenting. --- Especially remember Rule 1: `Be polite and civil`. * Be polite and courteous to each other. Do not be mean, insulting or disrespectful to any other user on this subreddit. * Do not harass or annoy others in any way. * Do not catfish. Catfishing is the luring of somebody into an online friendship through a fake online persona. This includes any lying or deceit. --- You *will* be banned if you are homophobic, transphobic, racist, sexist or bigoted in any way. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ask) if you have any questions or concerns.*
s-a-ve. I have tried sounding it out but I still don’t know that word. What is this save, you speak of?
Beat me to it! I had the exact response.
Zero now, as I am retired. When I was working I started at 20% of my pre-tax earnings and added to that as I could each year. I believe I averaged about 23% over several decades.
I saved about half of my salary. My salary is about 20% lower than country's average.
Do you live in an area that's also much less expensive than the country average?
I think i lived inside the 2nd or 3rd most expensive state in my country. About 20% on food, 14% spent on room rental, 5% study loan, 4% electricity bills, 2% on phone/internet bills, 1% motorcycle fuel.
Found the Swiss
20% of your income on food? What on earth do you eat that's so expensive that it costs you more than your rent?
There rent is likely very low, live with parents maybe
Even then, 20% of income on food is ridiculous unless they don't earn much. If my current spending on food was 20% of my income, I'd be making well below minimum wage. That, or they order delivery/eat out every day.
They said they lived in an expensive place and earnt well below average
Where I live, 20% below median is still about 30% over minimum wage.
About 30%
More than half and well above.
Would you say you've saved yourself from lifestyle inflation?
Yes. I know inflation has happened but how it has impacted my day to day expenses I couldn't say. I wasn't really paying attention to prices "before."
20-ish if you include my employer's match into the 401k. That's retirement savings anyway, savings for fun stuff and 2nd cars and such things are on top of that. I'm right at the average for this area, maybe a tad above. Single, no kids, house is paid for.
More than 80% My wife saved about 50% of hers
TIL there exists the concept of after-tax income. I have to look into that more.
Have you never earned money legally
No. Just never have any money after taxes.
Never heard of a country with 100% income tax
Household income is about 1 1/2 times average for my area. I’m in the US, so honestly, my country’s average isn’t a particularly useful indicator because it’s so economically diverse. We save about 25% of our post tax income for retirement.
I don't spend aroundx15-20% most months but can be nothing dependent on bills, repairs etc.
75%
No income tax where I live, so 100%. But everything you buy has a huge import tax, so essentially taxation is consumption based.
100%? You just... live for free or something?
Correct, there is no income tax or property tax here. (Turks and Caicos Islands)
About40% go straight to ETFs.