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      08-28-2012, 07:09 PM   #71
double_j
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Drives: 2008 JB/B E90 M3
Join Date: Nov 2009
Location: Northeast USA

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Quote:
Originally Posted by kevinbahnz View Post
Since we're on the subject of money, I have a question and It may depend on many variables but how long would it take to save up $100,000. Lets say a combined $100k net income , 2 kids, with little to no debt. approx. $1500/rent and utilities. How long would it take that family to save up $100k?
Lesson 1 in money management. Learn to think for yourself. There is no one size fits all magic formula.

Figure out how much you can realistically target to save per month. Divide that by 100,000. That's how long it takes to save 100,000.

My random guess...you'll never save 100,000 if you live what's become a normal lifestyle nowadays, 10 years if you can force yourselves to drive 'basic' cars and to deprive yourselves of some 'necessities', 5 years if you live a lifestyle that would have your neighbors thinking of you as 'the poor people' in the neighborhood.