Am I saving enough money for the future?
Most financial savings feel inadequate because standard emergency funds only cover current living expenses rather than future life changes like moving out or renting alone. This uncertainty creates constant anxiety and leaves people without clear benchmarks to know if their net worth is actually on track.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
Share your steps and trade-offs so fellow engineers don't have to reinvent the wheel. No account required.
- 1Saving as much money as possible while trying to enjoy lifeDid this help you?
- 2Using general age-based benchmarks like 1x salary by 30Did this help you?
- 3setting aside the difference between current and future expenses into the emergency fund for six months as a test runDid this help you?
- 4using separate sinking funds for anticipated lifestyle changes like moving outDid this help you?
- 5Opening and maxing out a Roth IRADid this help you?
- 6Planning to purchase a home in Puerto Rico as a future retirement homeDid this help you?
- 7Contributing 25% of salary to teacher retirement savingsDid this help you?
- 8Following standard recommendations to keep 6 to 12 months of living expenses in an emergency fund.Did this help you?
- 9Trying to be realistic with the budget by including normal expenses rather than just necessitiesDid this help you?
- 10Planning to adopt a conservative approach after closing without immediately remodeling or buying expensive furnitureDid this help you?
- 11Relying on monthly surplus to gradually rebuild savingsDid this help you?
- 12Trying to save at least 3 months worth of payDid this help you?
- 13Creating a secondary rainy day fund for emergency expenses like car repairsDid this help you?
- 14watching financial advice videos on expected savings by ageDid this help you?
- 15asking peers on personal finance forums for validationDid this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“I (27M) am someone who worries all too much about my financial situation. I need someone to tell me if I am where I need to be.”source ↗
“Since this is our first house, I think part of our concern is simply not knowing how much cash is realistically enough to have left after closing, especially with an older home where larger expenses could come up over the next several years.”source ↗
“Would you feel comfortable going into this situation with $22k in savings and approximately $2k/month of positive cash flow?”source ↗
“How much would you personally want left in savings before closing on a house like this?”source ↗
“My "plan" right now is basically to save as much as possible, while also enjoying life and doing the things I want to do. That does not seem strict enough and I'd like to tighten up.”source ↗
“i sized my emergency fund off my current rent, which is a room in a house with three other people, and that is not what my life costs in two years.”source ↗
“fund covers me losing my job, not me eventually wanting my own place.”source ↗
“Yes, behind on investing. Sorry should have been more clear!”source ↗
“How much should I keep in my savings account to have available for emergencies? Is one month of expenses a good number?”source ↗
“I’m a 23F, who has no financial guidance, how much should I have saved?”source ↗
“I obviously want to save more I’m just looking for a good goal I guess”source ↗
“Just like you, I'm into learning about your expected savings that you should have based on your age.”source ↗
“I feel like I’m behind because I’ve saved all these years.”source ↗
“Am I doing too bad basis my age?”source ↗
“I am not really sure of how secure I feel. Just trying to benchmark given my current state and the expected/desired financial position that I should ideally have been in!”source ↗
Where this came up
People with this problem also raised
- 2How do I know what I'm actually saving for?
- 15Should I invest a lump sum all at once or spread it out?
- 19Should I lower my retirement contributions to save for a house?
- 4How do 401(k)s and retirement accounts actually work?
- 28How to balance saving for retirement and enjoying your 20s
- 6Is living alone worth the extra money?