I was asked about my financial situation what amount should i have ai least?

Question

I was asked about my financial situation what amount should i have ai least?

Answer 1

You should have saved at least 10% of your income and no credit card debt.  It's even better if you have save an additional 10% for retirement.  You should also not be spending more than you make.

Answer 2

It depends so much on where you are in life (age, job, family, etc), and where you are financially, and where you want to go.  No matter where you are, you shouldn't have any debt whatsoever, except for a house, and investing heavily in a 401K or some other retirement fund.  In addition, you should have an Emergency Fund equal to 4-6 months of living expenses, just in case you loose your job.  Last, but not least, make sure you have life insurance equal to 10 times your annual income, especially if you have a family, so that your loved ones can carry on financially should something unexpected happen, and by investing this life insurance into a mutual fund that earns 10% a year, your spouce would not have to work again.  Good luck.

Answer 3

I don't understand what you are asking.  Why would you tell anyone about your personal business?

Answer 4

I don't understand your question.  Who asked you and why do you need to tell them your business?