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How much should your net worth be by your 30s? |
Obviously it depends on different things but on average, about how much should your net worth be by your mid 30s (cash, accounts, investments etc)? Not talking about things like inheritance, but how much $ you have saved/invested for yourself. Serious opinions only please. Wow mine is in the 300Ks based upon that calculation. Guess I am dirt poor then. I live in a costly area and don't own a home, just the money I have saved. But I also have no debt (mortgage etc). How can average families, with kids, mortgages, car payments etc. have several hundred thousand dollars in assets and not be in debt? The calc the 1st person told has a slight flaw I think. Most people don't make a ton of money straight out of school. Plus, you also have loans which puts you at a negative net worth starting out. It's better to compare yourself to others in this case. The median net worth of someone in their 30's is $45,000. The top 25% of 30's has $128,000. One way of measuring is called a wealth yardstick. The wealth yardstick suggests that your net worth should be your age multiplied by your income divided by 10. There really no should. You need to tell us what you are looking to do... ONE BILLION Read the 2 books below by Thom Stanley. He has a nice little calculator to show you where you are based on where you could potentially be for your age. I did it the first time I read it. I was shocked & totally depressed...but it really got me motivated to do better. Now I'm doing better than I could've imagined. I credit him & Dave Ramsey for completely changing my perspective (1 piece at a time) on how to manage my life & finances for long-term success/security rather than short-term entertainment/status. |
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