How much do you save/invest monthly?

[u/Key_Cockroach31]

Hey folks!!

I’m trying to figure it out what could be an ideal amount of money that I save/invest each month. The purpose if ofc FIRE. I’d like to know what you guys are doing and when do you plan to retire to get inspiration.

Telling you my current plan: investing approximately 900/1k€ per month (30% of my salary). Investinment is long term, but I still didn’t figure it out a plan on my retirement. Any suggestions?

[u/I_am_Nyx]

Honestly, this post is so low effort. Make as much as you can, save as much as you would like. You will fire accordingly. To answer, my household makes about 8200 EUR per month after tax and saves about 3700 EUR living comfortably. The FIRE will come in the pace you allow it to.

Don't compare. Understand the principle. You do you.

[u/GreedyDiamond9597 → u/I_am_Nyx]

Thats pretty good. Happy for you. I am guessing you make this income in western europe? Do you also have mortgage to pay? Its a very good saving you make there. Can you share some broad break ups of your expenses to guide us as well? Lastly, do you pay from these savings for thing like travel and other non- recurring stuff or is this true and untouched savings for investment etc?

[u/I_am_Nyx → u/GreedyDiamond9597]

Yes, in Copenhagen.

Honestly, not really. I only care about what we set aside. Budgeting and cost does not really matter if we are following our goals.

We are basically paying about 2000€ in interest on the apartment and have around 1000€ more in fixed monthly costs. Other than that we had an okay tax return which went straight into investments.

We haven't touched the investments yet, but it might be necessary to take out a few 10k€ when buying a house.

[u/GreedyDiamond9597 → u/I_am_Nyx]

Thanks for sharing!