Is 4k considered decent savings for being 20?


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Most Helpful Guy

What Guys Said 7

  • Yes very impressive

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  • Keep saving until you find a business opportunity to multiply that 4k into 8k, then 8k into 16k, 16k into 256k, 256k into 65.5million.

    But remember: Dishonest money dwindles but those who collect little by little will prosper.

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  • Here in Australia $4000 is not a lot to have but is a lot to owe.
    It might last a few months paying rent, bills, groceries, etc.

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  • It's pretty good keep saving though it'll take no time at all before you can get a new car or a house. It's the best way to do things.

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  • Considering most 20 year old people do not have any savings, yeah it's pretty good.

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  • Yes, now go invest it. Open an account at OptionsXpress. com

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    • Elaborate on investing please.

    • Go to OptionsXpress, make an account transfer money from your online checking account. Put money in securities, perfect starting stock is a good Vanguard S&P ETF like ticker symbol: VUG or VOOV. Profit.

  • no not really lmao i have like 5-6k savings and i just turned 17

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    • Ok, you have probably been saving for years. I only started saving last year at the age of 19. How did your savings accumulate so quickly though? Are you a hustler?

    • Show All
    • ... for what reason?

    • dont no lmfao

What Girls Said 5

  • It's currently in a savings account correct? I recommend looking into placing your funds into a money market or certificate of deposit. You will earn a higher interest rate and therefore increase your investment. Problem being with a CD your money will be tied away anywhere from 3 months to 5 years ( some will have a special where its a shorter term but higher rates) and any withdraws or early closures will result in a penalty. With money markets Some banks may have a limitation on withdraws or may remove that limitation if you have an atm card with it. Both will have a higher interest rate than a savings account. Unfortunately the interest rates aren't like they were in the 80's. Happy hunting!

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  • Are you the same person that keeps asking? :|

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  • Is this a joke question? It's pretty friggin good.

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  • I'm sorry but no.

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  • Yes, 4k is considered decent savings for your age.

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