I'm 27 years old. What would you consider to be a reasonable amount of money to have saved up?

Question

I've already bought a house..

Answer 1

It doesn't matter how old you are.

Ideally you should have six months of living expenses in savings, but if you're not financially established right now then I think two months worth may be a more reasonable goal for now.

Aside from emergency savings, it's better to invest your money than to save it. The thing about saving money is that the dollar loses more of its value to inflation than the amount that a bank pays you in interest.

If you're interested in investing money it will be necessary to do your homework on different types of investments and investment strategies. It may also be a good idea to consult a good financial planner.

Answer 2

I am 27, and I have only saved around $50,000. I would have saved more, but I have only been saving since I was 25. I save around $20,000/year. I don't even have a good job or anything, I am just good at budgeting my money.

Answer 3

Six months living expenses plus at least ten percent of your annual income, times the number of years you have been employed, in a 401K retirement plan.