How much should i put in my savings every paycheck
- how much should be in my savings
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- how much should be in my savings at 25
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How much should i have in savings at 40...
If you’re wondering how much you should have in savings, that exact amount really revolves around your current money situation. So, let’s start with a broad answer and then walk through how to find your specific number!
How much should i save per paycheck calculator
How Much Should I Have in Savings?
The quick answer is this: It depends!
To give you an idea of what’s common, here’s the median amount Americans have in savings by age:
Age | Median Amount in Savings1 |
Less than 35 | $5,400 |
35–44 | $7,500 |
45–54 | $8,700 |
55–64 | $8,000 |
65–74 | $13,400 |
75+ | $10,000 |
Now, does that mean you should take the amount that matches your age range and make it your target goal?
Nope. How much you should have in savings shouldn’t be based on a government stat.
How much should i have in savings at 20It should be based on where you are with your money.
Eventually, your goal is to have 3–6 months of expenses in a fully funded emergency fund and at least 15% of your gross pay going into retirement savings. (These are part of the 7 Baby Steps, aka the
- how much should i have in my savings
- how much should i put in my savings every paycheck