Do you think $31,000 is a typical amount to have in savings (not including 401k/retirement) for a 30

I am a single, newly 30-yr-old female. I have $31k in savings, which I starting putting away last March. The previous 9 months earlier, I busted my butt to pay off $30k in credit card debt. Once I was debt-free last March I started saving like a maniac, worried my credit card debt had severely damaged my financial future. I%26#039;d like insight as to whether or not I%26#039;ve gotten myself back on track yet with my peers and on par for the course. Thank you...:)

Do you think $31,000 is a typical amount to have in savings (not including 401k/retirement) for a 30-yr-old?

Hell that%26#039;s outstanding!

I%26#039;m in my mid-30%26#039;s and my savings account hovers around 2K. Of course we bought a house and have a 3 year old so the expenses kept adding up, but I%26#039;d say your savings are WELL ABOVE most people your age.

Do you think $31,000 is a typical amount to have in savings (not including 401k/retirement) for a 30-yr-old?

No, I think it is better than most people. I am 31, but married and our savings account is $25.00. and we have 4 kids. But we live in California, so 75% of our salary has to go to housing...so... depends on where you live and what you earn.. we only earn 45k-50 a year, so savings is a luxury we can not afford sometimes.

No 401k either, and no college funds.. but I do have the luxury of raising my kids and not putting them in daycare... so there%26#039;s that!

Do you think $31,000 is a typical amount to have in savings (not including 401k/retirement) for a 30-yr-old?

I%26#039;d say you have done exceptionally well. Your savings account would be the envy of most 30 year-olds. Not to mention zeroing out your credit card. Time to put some of your savings to work....say half to 2/3. Right now is a very poor time for stocks but a bond fund with a very short maturity profile, or a T-bill fund, will increase your earnings with very little risk.

Do you think $31,000 is a typical amount to have in savings (not including 401k/retirement) for a 30-yr-old?

GOOD FOR YOU!!!! $31k for your age is good - awesome - in fact. You paid off $30K in credit card debit - you done good!!!! I%26#039;m not exactly your peer, but I was there a few years ago - keep it up - but now that you have paid off your bills %26amp; have some money in savings, don%26#039;t totally deprive yourself - i.e. go out to eat, get your hair done, buy some new clothes once in a while. Way to go - I%26#039;m sure that there are several people out there who would like to know how you did it.

Do you think $31,000 is a typical amount to have in savings (not including 401k/retirement) for a 30-yr-old?

I can%26#039;t think of one single person I know at that age who had that much in savings - you%26#039;re doing great!! Don%26#039;t just leave it in a savings account - money like that needs to be invested properly unless you%26#039;re planning on buying a house anytime soon. That would be a GREAT move nowadays with the current house prices - if you can afford to sock away that much in less than a year, then you can probably afford to buy a house (depending on where you live, of course)!

Do you think $31,000 is a typical amount to have in savings (not including 401k/retirement) for a 30-yr-old?

Hello,

I think you should invest your money into Real Estate so you can finally get out of the rat race.

Having money in a savings account gives you a very little return.

If you want, I can show you how to invest in Real Estate, earn residual income, find positive cash flow properties with built in equity (not listed on the MLS) and find a property management company, and just collect checks every month whether you work or not.

Shoot me an e-mail if your interested.

Shaun

satamianaz@yahoo.com

Do you think $31,000 is a typical amount to have in savings (not including 401k/retirement) for a 30-yr-old?

That is a great amount for a 31 yr old. I would put it in a high yield savings account where you would get more interest. The only draw back is the minimum withdraw is 10,000 so if you need 1,000, take out the 10,000 and put the 9,000 right back in, or you could split it into a regular savings/high yeld savings.

Do you think $31,000 is a typical amount to have in savings (not including 401k/retirement) for a 30-yr-old?

I%26#039;m not sure whether it%26#039;s typical or not, and you should not worry about that too much. If you were able to save $30K starting from $0 last March, you%26#039;re doing VERY well.

Also don%26#039;t listen to Real Estate pushers (unless you come across some amazing deal). Give that market a few more years to get back into reasonable.

You need to run from your live-in boyfriend, he%26#039;ll be the cause of financial ruin if you start a family.