< [[:notes]] * Retirement savings by 65: **15 times your desired annual retirement income** * for 70k => 1,050k, 50%+ stocks and % bonds, if 8% annual return, can withdraw 7% for living * retire whenever you wan: **25 times** take out 4% every year "in perpetuity" * Credit card monthly max: **30% of credit line** * "utilization" and "payment history" so REDUCE _utilization_ or spread out among cards * Housing monthly max: **28% of gross monthly income** * FED regulators housing cost principle/taxes/insurance, roughly 2.5 x Annual income, invest savings * Monthly debt: **8% of gross monthly income** * for "recurring debt" (auto/student loans, CC, utilities) - if over, slash your budget * Car loan length max: **60 months** * end up owing more than the car is worth * Save for child's college: **1/3 of total cost** * 529 savings plans, collegesavings.org

 
notes/finances.txt · Last modified: 2009/01/02 11:10 by bw
 
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