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How much you should be Saving & Investing IF YOU MAKE $75K

@madisonmartellaro

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Why it worked

The video provides a clear and actionable breakdown of personal finance principles, using a common income level and a popular budgeting rule to offer practical advice on saving and investing for future wealth.

Summary

This video breaks down how to save and invest a $75,000 annual income using the 50/30/20 rule. It suggests allocating funds towards needs, wants, and investing, prioritizing a 401K match, an emergency fund, and Roth IRA investments in index funds.

Structure

1Introduce income and savings goal
2Calculate monthly income after taxes
3Apply 50/30/20 rule for needs, wants, and investing
4Detail investment strategy (401k, emergency fund, Roth IRA)
5Project long-term wealth accumulation

On-screen text

How much you should be Saving & Investing IF YOU MAKE $75K if you follow you will SO $75K -> $57K After taxes $4,750/Month 50/30/20 rule $2,375 Needs $1425 Wants $950 Investing $950 3 Month Emergency Fund Roth IRA $11,400/year -> $3M+ $3M+

Transcript

If you make $75,000 a year, this is exactly how much you should be saving and investing. Yes, if you follow this framework, you will become a millionaire. So let's get into it. $75K -> $57K after taxes. $4,750/Month. 50/30/20 rule. $2,375 Needs. $1425 Wants. $950 Investing. $950. First, you want to get your 401K match because that is free money. Next, you'll want to build an emergency fund until you hit three months of expenses. Then everything else goes into a Roth IRA. You'll want to invest in index funds like VOO or VTI. Do all of that and that will be $11,400/year invested. That means if you start at 25, that's over $3 million by 65. And if you start at 35, you're still well past a million dollars. Save so that you can become the next millionaire in your family.

Original caption

I’ll be breaking down a $100k income in a future video #financialliteracy #savingmoney #investingforbeginners #investingtips #PersonalFinance @Bloom Nutrition