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PrincessP
Big sister!!!!!!!!!!
Member since 12/05 17450 total posts
Name:
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Savings acct
I was reading on NFR that a vast amount of people had over 200k in their savings. Is that even possible while being a parent? I mean we save but seriously, I do not forsee us ever having that kind of $$$ in our accts. unless we inherit or win the lotto 
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Posted 3/6/09 10:27 AM  |
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Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
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Re: Savings acct
there are so many factors that could contribute to that ---- salaries, investment, inheritances, trusts, etc .... not to mention, you do not know who has a house versus who lives with their parents rent-free.
You also don;t know who is counting 401k's, 529's, other assets besides liquid cash.
I try not to put too much stock into it because every person and situation is different.
DH & I have a lot of money in the bank right now and I answered accordingly. But we are closing on a home a month from now - my answer would be drastically different then. KWIM?
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| Posted 3/6/09 10:30 AM |
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GreenGirl05
LIF Adolescent
Member since 1/06 834 total posts
Name:
J
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Re: Savings acct
Posted by PrincessP
I was reading on NFR that a vast amount of people had over 200k in their savings. Is that even possible while being a parent? I mean we save but seriously, I do not forsee us ever having that kind of $$$ in our accts. unless we inherit or win the lotto
Same here!! It's hard not to think about (and wishing) to have that kind of money, but I just count my blessings that we are in a pretty good place right now! 
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| Posted 3/6/09 10:32 AM |
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shellybean
Love my Baby Boy!
Member since 4/07 5191 total posts
Name:
mich
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Re: Savings acct
Well I think it is....possible...we have a decent savings and we are still very younge, it depends on your age and how much time you had to save i guess....
and your salary of course...I dont think most PPL have that much!!!
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| Posted 3/6/09 10:34 AM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: Savings acct
Everyone situations are different like Elbee said.
Its not so unrealistic.. if there are two working parents with good salaries that live below their means and can save a few thousand each month it can be easy to reach $200K in a few years.
I don't think being a parent has much to do with saving money at least in our situation (free daycare - MIL  ) But I can see how having 2+ kids in daycare can deplete savings!
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| Posted 3/6/09 10:37 AM |
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PrincessP
Big sister!!!!!!!!!!
Member since 12/05 17450 total posts
Name:
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Re: Savings acct
Posted by Elbee
there are so many factors that could contribute to that ---- salaries, investment, inheritances, trusts, etc .... not to mention, you do not know who has a house versus who lives with their parents rent-free.
You also don;t know who is counting 401k's, 529's, other assets besides liquid cash.
I try not to put too much stock into it because every person and situation is different.
DH & I have a lot of money in the bank right now and I answered accordingly. But we are closing on a home a month from now - my answer would be drastically different then. KWIM?
True...didnt think of the $$ prior to buying a home or living rent free.
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| Posted 3/6/09 10:48 AM |
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JenBenMen
party of five
Member since 9/06 11343 total posts
Name:
Jen
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Re: Savings acct
i guess it could happen...although I also read that many of those same people do not OWN a house/apt
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| Posted 3/6/09 10:49 AM |
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shellybean
Love my Baby Boy!
Member since 4/07 5191 total posts
Name:
mich
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Re: Savings acct
I would guess that most of those people arent in their 20'2...maybe some but most have had time to save...
But i agree the baby doesnt cost me that much since I dont pay daycare
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| Posted 3/6/09 10:49 AM |
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shellybean
Love my Baby Boy!
Member since 4/07 5191 total posts
Name:
mich
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Re: Savings acct
Posted by JenBenMen
i guess it could happen...although I also read that many of those same people do not OWN a house/apt
OMG if I dint own a house i would have 200 in the bank easily between our downpayment ant he $$$ we have been paying per month for 4 years..we bought our house preety young IMO...if we would have saved that money we would have a LOT....plus we bought at the height of the mkt...errrrr
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| Posted 3/6/09 10:51 AM |
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PrincessP
Big sister!!!!!!!!!!
Member since 12/05 17450 total posts
Name:
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Re: Savings acct
Posted by shellybean
Posted by JenBenMen
i guess it could happen...although I also read that many of those same people do not OWN a house/apt
OMG if I dint own a house i would have 200 in the bank easily between our downpayment ant he $$$ we have been paying per month for 4 years..we bought our house preety young IMO...if we would have saved that money we would have a LOT....plus we bought at the height of the mkt...errrrr
If you had your dc and didnt have that house meanwhile were paying 2k in rent, you could still have 200k? I dont know...maybe I am naive...I just think 200k saved is ALOT...
BUT
I do agree that if you have no mortgage and no rent payment...that is ALOT of cash to save...BUT...i couldnt live that way with my dh and dc. I need my space.
Message edited 3/6/2009 11:35:41 AM.
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| Posted 3/6/09 11:34 AM |
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shellybean
Love my Baby Boy!
Member since 4/07 5191 total posts
Name:
mich
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Re: Savings acct
yea well i meant if i lived FREE somwhere, persionally i think its crazy too...good for the poeple who actually have 200k in cash in the bank....but Money isnt everything....
as long as you have enought to make your child happy....im actually leaning toward the "simpler" life...I think kids enjoy it more....
Message edited 3/6/2009 11:43:42 AM.
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| Posted 3/6/09 11:42 AM |
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BeachMom
Love my 4 kiddos!
Member since 11/08 8346 total posts
Name:
Kristie
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Re: Savings acct
Everybody's situation is different. Depending on retirement, if you own a home, rent, able to live with family to save money.
Personally we don't have that much in our savings account and what we do have will probably be gone soon too. We're looking to buy a bigger place and get a new car, so there goes the savings account. It all depends on what part of your life your in when that question is asked.
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| Posted 3/6/09 11:44 AM |
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