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Keep in mind that a lot of the nice gains ppl are talking about here and other places is due to the zero interest rate policies of the federal reserve as well as quantitative easing. Nearly 5 trillion dollars have been added to the Fed balance sheet to keep rates low.

Bailed out banks, businesses and homeowners. Finally, governments at fed and state level have been spending billions more. Plus more at the state level. PPl are posting like they are real estate and stock market geniuses but really we are all riding the bubble.

I later gradually got in purely in health care stocks. I salute all those who are at least trying to better their situation. But we are in uncharted waters with our level of debt, public and private. Excellent comments and sincerely agree with your comments.

Just to be clear, your net worth calculations do not include the debt that is acquired through a mortgage, correct? If that is the case, most younger folks would have negative net worths. Why would you need over 12 times the average to be considered above average? I see a lot of people posting about trying to pay off their homes quickly. Its a bit of a risk trade off, some people may prefer the risk free nature of not having to pay interest, but its hard to imagine not being able to earn a higher long term return on the cash you are using to pay off your mortgage.

Additionally paying off your home puts a higher concentration of your wealth in real estate which may reduce your ability to properly diversify. Most people view diversification as a portfolio by portfolio objective but it should ideally be done across your entire net worth.

Just something to consider� Love the site really helpful to gauge how well you are saving. Classic money mindset stuff, right? Poor and lower middle class tend to abuse debt, since their savings are low. Thanks to you both for these closing comments. Thanks again. It made sense to pay down high-interest loans on appreciating properties.

Your 3. My wife and I did that when we got married, I sold my house for a very good return in , put the minimum down on our next house and got a great rate as well , and invested the significant difference in the market.

Of course, I probably could have found it out for myself for free here on this site, but my financial education is a work in progress�. I think much depends on where you are financially � early in the game versus a little older � and what your asset allocation looks like.

Maybe that is not the best way to deploy extra cash or to think about things but I feel more comfortable this way.

I can, and do, pay cash for everything homes,cars,etc. I have a substantial portfolio � equities, bonds, REI � and feel that owning certain assets free and clear is where I should be. But younger, yes, I was very leveraged and had 12 rentals by age Way out there at times � but guns not butter. I think there are stages that are appropriate. What are the bottom line numbers opportunity cost, after tax cost, etc. And we started out broke. Lynn � all good points; at your point in life, being debt-free also means mostly worry-free for your family in the event something happens to you.

Hope you have a good plan to enjoy from here on out � :. Dear Financial Samurai, I am currently single 40 year old and pretty much spot on with your plan.

My goal is to hit 1million net worth by By 42 I will have my first home payed off and solid rental income a month. I am particularly interested in suggestions on how I can capitalize on having a home Cheap Used Small Boats For Sale 011 payed off at a relatively young age as this required some sacrifices.

Thanks for your thoughts. What a great article, glad I discovered it. Will definitely reference this moving forward.

I just turned 30 and currently have K in post tax kept in the market , about K in retirement savings accounts, another 15K in cash at all times for expenses. I do not own any property.

Not to mention I would have wiped away my post tax savings with the super high cost of living here. The day I leave the city, I plan to own. Anyways, awesome article � important read for anyone. I agree you have a lot of good information. I rent furnished bedrooms which is an approach that doubles the cash flow on a property. I do own my own home. Most of my wealth came from investing in equities.

Part-way into my management career, I did an MBA part time, while working , which has increased my earning power. I am separated and have shared custody of young children.

It was an amicable separation, and we each kept all our own assets. As the higher earning parent, I pay child support to my ex. To date, most of my employers were on the small side and did not offer any type of company retirement plan.

They offer partial contribution matching so I definitely take advantage of that. Beyond that goal, I might like to retire early, in my fifties. Only 3 years into my career. Have been maxing my IRA for the past 4 years. Started maxing k last year, and have been putting any extra into a brokerage account.

Paid them off in Sept Working as an engineer in a LCOL area. Here are my current numbers according to Personal Capital:. Hi Sam According to your table, at 45 I should have close to k in k savings, k in post tax savings and k in equity for a total of k net worth. My numbers are more like k, k and 1. Good question! Can you explain how you factor real estate into the total net worth? I would also like to know where I need to be in the top.

I would like to know based on income and net worth. My goal is to be a make a million in total gross by 24 and become a millionaire by I read your articles very often so I appreciate the feedback. Thanks for the quick response!

Based on those figures I should be comfortably on my way. Do you have any article showing targets for the top. I have had trouble finding information on that since most of the statistics are on age groups above 35 and I am only Sam, how can I calculate my pension in terms of net worth. It will provide substantial payments for life. Sam � Enjoy your newsletter.

Setting goals are great; however, the best laid plans with great opportunity are often met with at least one of the factors I mention that places one in what I call financial recovery mode to be ready for future retirement. Goals can still be met but realize the road to those goals is often met with the very factors that come with living life.

This post it highlights the individual and not the merit couple. I do have a average net worth for the above average married couple post as well. Hi Sam, this is a my first post here so a brief intro is in order. I now live in Pune, India, to be closer to aging family and all the delicious tandoori food.

I discovered a powerful tool which helped me build my own set of clear goals. My goal is to retire now before I turn FS has also inspired me to get going with side hustles and leveraging the internet. My background is as a developer so I have written my first android app as a test bed. Better ideas should follow as well. My app can be found here on the Google Play Store �. Once again, thanks Sam, for sharing your experience and wisdom for the benefit of so many.

The best of sustainable living and world peace. I still save my butt off and have a lot for what I was given. I should feel proud of that, and was here reading because I am proactive and interested in always doing better. But reading this made me feel awful. You can let your current situation define you, or you can look at your situation in and improve. The reality is, a lot of people have been born on second or third base.

This is the real world we are living in, not some fantasy land where we need to Pat everybody on the back. We all have internal conversations that can either contribute to our success in life, or send us down the wrong path. Your attitude has put you on the wrong path in life, but I pray that you are able to see the light. I read Financial Samurai, BiggerPockets and other blogs to learn from the articles and the varied opinions from respondents � these blogs are valuable resources.

I strongly suggest that you continue to read them�good luck, Anon. I agree with the others. This attitude will torpedo you. You make your own luck in this world. We are 59 and just crested 20MIL. My parents paid for my undergrad education but not Law School I worked FT and went to night school and still had debt from a State School. You can just see the figures in plain site. We are at the top of the market.

It can go higher of course, but be picky. Run the numbers. Great Article Sam! After reading your article I realized how very wrong I was. This is changing now see my new budget below. At age 27 I had a total net worth of about 75k, decided to go traveling and currently at age 28 I am left with approximately 55k.

On the whole, I believe your aggregate figures work very well for Switzerland, though there are big differences if you break things down. Let me explain:. Contributions to our equivalent of the k are actually determined by the employer. Clearly our restrictions will not allow the average Swiss to get anywhere near your figures in that department. But hat helps only a bit. We fare even worse in this department. Basically the property worth is officially determined by an estimator and you are required to declare the amount you would hypothetically earn if you rented your home out, as income!

I wonder what you would propose the average Swiss do in the home equity part of your equation. This is where living in Switzerland pays. For such a small country approx. I live in one of the lowest tax regions in Switzerland and pay approximately Until I started my new job I did not have a k.

Thus my k will actually grow at a staggering rate by Swiss standards of 19k a year not 20k for silly, technical reasons. Thus I am somewhat lucky in that department. Seem like a lot?

Let me explain. At the same time I am paying about 3k more for my apartment because I live in a low tax region. All in all, I am saving approximately 5k a year by my choice of location. Therefore I actually budget about bucks a month for traveling and the purchase of gadgets, gifts, etc. I am left with saving 3k a month 7k of which goes to tax exempt account annually.

I am currently thinking of ways to increase my savings a couple of percentage points, but that proves to be a challenge as living expenses in Switzerland are notoriously high. Therefore I am focusing more on the potential to generate side income as one of the benefits of my current job is a 40h work week.

No overtime pay. I will be investing my savings in passive investment funds on major equity indexes e. The U. Got to love the magic of compounding. Furthermore they assume a monthly contributions. Now as I am very safety oriented, I will want to be able to live off of my returns without having to resort to touching the principal, i. Readers of your blog might be interested in a brilliant site I found numbeo dot com.

In my personal situation I could easily live off of 2k a month in Thailand, Portugal or a number of other low cost countries.

Pretty cool! Thanks again for your great blog, Sam. And thanks for the many comments and for sharing. I really enjoyed reading it! Please note that the flat I am currently renting is 1. Apologies for the confusion. Welcome, and thanks for sharing your background and details! This focus will serve you very well in the rest of your life.

Thank you for the motivation! I do have one question. Would you recommend I. I would greatly appreciate your thoughts on this matter. I always like legging into my investments in various tranches because you never know when the top or the bottom is. Therefore, 2 is a better way to go.

Aggressive savings will be your primary driving force for net worth growth in the beginning. My spouse still works but has never had a k match. These numbers seem a little flat to me. Even a fairly aggressive saver is going to have a hard time doing that. By contrast, things seem a lot slower in the long run than they should be. I do appreciate the sentiment of the article and it tracks pretty well with who and where I am financially, though.

Obviously, individual circumstances may vary, so someone may have more or less saved than the ranges you show. Have you done an analysis to include college savings in your analysis? A great point on saving to pay for college for our kids. I am trending well above FS standards at 47 so this is more of an observation than a complaint.

Blessed with dual income and side business most of my adult life �. BUSY but at least on track. I am 53 years old and the projections are right on for me. I am higher in the home equity but lower in the k. I made a conscious decision early on to pay down my home mortgage. This made me sleep better at night, but, I realize it was not the wisest financial decision based on how the market has grown. What I am most proud of is I was able to do this while we raised 5 children who went to private grade school and private high school and my wife was able to stay at home while we raised them.

We did not take a lot of fancy vacations and always paid cash for things cars included. There is an optimism about them that no matter what happens, they can always find ways to make more money. This was my favorite line, and I would add to it that those same people are consistent with wealth building endeavors. They are eternal optimists like you said, who add value to the world in meaningful ways for which they can be financially rewarded.

I thought that was something to be proud of, but according to you, I should be worth twice that much. I think I will be fine, financially. But I do admire that you push people to save and invest.

Of course, nobody intentionally invests in enterprises that go bust. Probably one of the most interesting comments I have read in this thread in a while. It goes to show you where you live goes a long way into defining what your targets should be. Enjoy your retirement! Nice article. Here are some info: � My wife and I are both She only started working 2 years ago. Those are good numbers � you keep that up and you should easily be able to retire by depending on your annual spending.

Go me! So your paragraph about the correlation between net worth and home ownership rings true Down Under! I think that there is misconception that you have to buy a home to get wealthy and if you rent then you will stay poor.

The reason that homeowners are much richer than renters on average is because homeowners on average have much higher incomes that can financially support expensive homes. The poorest people with low incomes cannot afford homes and are forced to rent.

The lowest income people on average have a lower net worth than the highest income people. I would bet that most high income people own a home and most low income people rent. This generally explains the gap in net worth between a homeowner and a renter. I am 40 and we are about 1. However, if you divide us separately since we are married, I guess we are below average.

Either way, I am happy as we have more than enough to retire soon. The key is, even though we have had over 1M for a few years now total, it was not invested assets. Now we are above 1M in that category too.

Furthermore in terms of equity, those numbers seem very low, I am into my 6th year of ownership and have around K of equity in my house. I guess by not obtaining any profit sharing, I am missing out to some degree. I have been maxing or close to maxing each year, I guess it does depend on your company match percentage as well.

As many bloggers on Early Retirement, I have my net worth online currently about a quarter of a million dollars , on my site. Currently I save 1. Thanks Financial Sam. Really interesting stats and another well written article as always.

This was above the national average, above the London average and far above the average earnings of people my own age at the time. The result is I was way behind the wealth accrual curve when I moved here, and I could instinctively feel it � no need for a spreadsheet. I was Lucky to have a nice wife and kids that made a happy stable home. I was born with a natural smile and this again made me Luckier than many to move in society and make some very important connections.

Above average has a lot to do with what Bill Gates remarked on, in my opinion. Luck can certainly play a role � especially for people who make a lot of money off their primary residence. Every day � people have choices � do I buy a big home or a smalller home?

Do I push my k as far as I can or do I buy new furniture this year? Do I drive an old car or brand new SUV? Do I go out to eat or cook at home? Do I go party with friends or stay at home and study? Do I take a nice expensive vacation to Europe or do a daycation with the family? Do I work that extra shift and save extra money or drink a 6 pk at home and relax? Do I go to the bar to hang out or do I do research about investments and ways to save money online?

I find most people make their own luck with good behaviors. Age k contribution Year ������������- 23 24 25 26 27 28 29 30 31 32 33 34 35 I took the sum and divided by number of years.

I even accounted for that annualized. This is with zero bonds. These results sound cherry picked � you picked some crazy fund which actually did perform but the chances of an employee providing that fund is hard.

Sounds great. How long have you been working and investing so I can get some perspective from where you are coming from? How did you get to k in just 6 years? Did you start maxing out the k from day one 12 years ago or did you start with a 0 balance 6 years ago?

You must be a very good investor or I misunderstood your comment about 6 years. And, I believe thats somewhat realistic. The reason why mine is lower is because I had more bonds at a young age. If it was in stocks I think I could of surpassed the higher end. Unlike most readers and posters, I dont own any other investments. So, I ask myself, should I diversify into other areas, or keep building wealth with the tools I fully understand.

In I had 3 homes and I had cashed in my pension and k to put into those homes so that I could be debtfree. I had k income. When the Fed took down our economy in , I got laid off with , other people in my company. Although I got a 24k severance after only 15 months, I was house rich and cash poor. I could not access the almost k in equity I had in all three properties. There were no jobs in my field for a year and I had to take 8.

I am finally back on the top, but I will no longer put all my eggs into one basket. I ended up losing 2 of the properties, and k of equity. Correction: 52, people. I lost that plus the increase in the fair market value from the original mortgage amount. I think the residential is pretty recession-proof. My values dropped in the crash but the rents did not.

I think of the rents like bonds � safe and steady. A hefty represents about a third of the equities, the rest is from some serious banking of any extra dough. The commercial is not recession-proof but is well managed with lots of free CF. Great post � love this and the above average married couple as I check in on them every few months to keep me motivated and on track! Good question. BUT, the most dangerous thing one can do is extrapolate into the future a high water mark of good times.

This analysis is very good overall. While homes can and do cost a bit to maintain,this maintenance and property tax is almost entirely tax deductible under the current laws. If you or your spouse are a realtor,the write off for renovations and maintenance are unlimited. In addition, the income is also reduced once again based on depreciation rate of the property.

One major factor not addressed in this analysis are the taxes paid while deducting from a K. Just my 2 cents. Maxing out the K is great, but one of our best ideas was to start a small home based business 14 years ago. This in turn led to another home and so on. I would just challenge the readers to thoroughly consider the tax ramifications and benefits of focusing on post tax savings as opposed to the K only route.

I think it would be an eye opener. So I only invested for 30 years but still hit your numbers for a 62 year old guess I made up for some early years of low wages. The only thing you missed with me was on my home�. All other projections were spot on�����. I love reading your stuff!

Agree with you John! We used the equity in that home to buy a second property, then a 3rd for a new business. In our 20s and 30s we sacrificed the expensive trips, big wedding, and fancy cars to accelerate our mortgage payments.

Our highest mortgage was 6. I had poor parents, worked through university and came out with 6K in loans at 9. I do think there are a couple of factors that are not mentioned that can have huge impacts on the numbers. Marriage, divorce, kids, health issues and job loss. All of those can positively or negatively skew the numbers.

Definitely think being DINKS double income, no kids played a huge factor in paying off our first house quickly. I am stunned at how precisely it projected my 45 year old financial numbers. I mean really stunned. So I thought I was a total freak outlier in my financial position. But Sam nailed my numbers at the high end step by step. If there is one thing that should be taught every year of school so it is never forgotten � it is the amazing power of compound interest.

It does the work for you. Also, wouldnt it have made sense to have saved less in ? I love this post on net worth. Obviously I would prefer to hit that goal even sooner. My wife and I now live well below our means and save like crazy, so I think is very feasible now. Keep up the good work, Financial Samurai!

May I ask you why you think the economy is so bad when stocks in real estate or at record highs? Also, you can take the K figures and use them as your total savings if you wish. I have to agree with you with the economy. There are jobs out there if you are willing to look and accept lower salaries. Love this article and your others. Do you happen to have a post that addresses those of us that completed graduate education or years for a PhD?

Now we have good careers and are maxing out the Ks, IRAs, paying down the house, and contributing to liquid savings; but, we still are behind in your charts when looking at where we should be optimally at age So would you not count the years of grad school in which we were paid, but very little as years worked?

And what about postdocs in which we were also getting very little at first? The thing we must all face is death at some unknown point. So, give you spent so much more time than average going to school, your goal should be to try and live and work as long as possible!

Count everything pre-tax. When I first started keeping track of net worth I did pre and post, post gets so freaking complicated and quickly as you add more assets and trade different accounts and move through different tax brackets that myself as well as any evaluation of Forbes lists really only talk in terms of pre-tax.

I am Canadian so the realities here are much different. First off, we can graduate with minimal debt provided you have an average summer job that will cover a lot of your tuitons and you are fortunate to be able to stay at home during your studies. Secondly, a lot of our weatlh is tied into real estate either investement or primary residence , especially in bigger cities.

I still have financial goals that I hope to achieve to keep my net worth increasing. A large amount for the amounts above have been allocated to the pre-tax contributions. The PV of the tax cost is probably more realistically the net worth as that represents such a large portion of the analysis. As someone who has recently discovered the FI community, these numbers provide a great guideline to track against.

After putting myself through college I had a negative net worth in my early 20s. Upon getting a job in my field, I promised myself that I would never put myself in that situation again and I started saving what I could while paying down my loans. I am currently 28 years old and my Vanguard accounts just crossed the k mark for the first time today! Comparing my own spreadsheet to the numbers above I will cross above the average by 35 if I can maintain my current level of saving.

Another problem is the money needed for basic living. Most people in Canada live in large urban centres where the cost of living is not cheap. Good luck having your parents come anywhere close to footing the bill these days, especially if they are trying to keep up with the wealth curve shown in this article. Sam, looking at your chart 53 our NW after 30 years of working is approximately that of a 65 year old. No debt. It may be scary, so please try and negotiate a fat severance package.

Just a quick comment from a 53 year old who has worked hard, invested wisely on my own and been somewhat lucky as well as challenged by the circumstance life brings. Sam is spot on. I read the article s and continue to learn yes, I still allow myself to learn. If I would have been reading this 25 years ago I also might have thought Sam is unrealistic.

Not saving early, investing early. Yes, dividends have been reinvested. I could have probably bought a car�gone on an expensive vacation�. I changed jobs 25 years ago. Could have withdrawn the money�spent it on something I wanted at the time. Like I said, please invest early. I could go on with more examples but hopefully you get the point.

Spend your time in a positive manner and trying to figure out solutions and looking for opportunities. Actually, great for you. Money is certainly not everything. But having grown up with little, I can tell you that I feel better knowing with certainty that my finances with outlive me. I try to find the balance that allows great memories to be created for my family and yet not live outside of our means.

Best of luck. You may need some. But you can make it happen. Trust me, I did. You can as well. I have to say I think your comment hit the spot. I especially agree with the last paragraph. Money certainly is not everything in life, but it is good be financially sound and know that you will always have enough to live on and then maybe alittle more.

At the end of the day, we are given one life on this earth and we should enjoy it and like you said, create memories. Its all about achieving that balance between enjoying life and living responsibly and within your means. And there are so many ways people can do this by trying to enjoy the simple things in life.

One anecdote of this is how many of us point out and in many cases rightly so that expenses have increased while real take home pay has generally increased. Again, just an observation.

Coming from someone who is on target with the above benchmarks, I would say to take it with a grain of salt. Similarly, he is free to define metrics in the way he sees fit and using the statistics to which he is privy. To touch on the student debt issue; One of the biggest mass-crimes of the last few decades in my opinion is the phenomenon of the educational system allowing individuals to pursue degrees that are not financially viable with little-to-no guidance up-front.

By that I mean that when you are contemplating pursuing a degree in any field, it should be mandatory that you are told how much that education is going to cost you vs. It should be no secret that an engineering degree will, on average, command a higher starting income than a communication degree.

At many institutions especially private , these degrees cost relatively the same, which does not make much sense to me. I am not saying that no one should pursue these degrees, merely that someone should approach it with eyes wide open.

I think we would have far fewer people in the debt plight that has become commonplace if they were made to acknowledge this up front. Okay, John. You lost me at 3. It is statements like this that give Millennials a bad name. However, it is entirely fair to say that the educational system fails individuals when it comes to pursuing certain degrees and their associated loans. HR departments are knocking people out of their systems based on their education.

Interviewees are getting ranked, in part, by the name of the school they got their degree from. Getting a bachelors degree used to be something to be proud of, and something that would set you apart as a candidate.

Now, getting a bachelors degree is the expectation. To get ahead, you have to have a masters degree. I should have clarified. Generally, when making an investment, there is full disclosure of the ramifications of the investment, i.

I just mean that when you decide to pursue the degree, the loan company should provide similar information. People who advocate freedom of choice without the same zealousness for creating an aware population to make same choice scare me. People deserve a choice, but they also deserve to be informed when making a choice.

If there was a doorway that said 'go here for a better life' over it, and you were free to walk through it, but there was a spiked pit on the other side of said door, you would probably make a different decision based on your level of knowledge of that part of the situation.

Full disclosure, I am a finance major, and made a good choice with the help of my parents who informed me of all my options when I went to school, but a lot of people don't have that leg up. You are obviously a very intelligent young man. Your views are expressed in a very clear and articulate manner.

As a Baby Boomer, I clearly recognize the generational differences between my generation and Millennials. Millennials seem less reliant on independent thinking and more on group-think.

I know, painting with too wide of a brush, but there are certain inhibitors that impact [some in] either generation from moving forward in a productive way. Active listening is a critical aspect of learning. Millennials were the first generation to grow up with computers in the home and classroom, which, in my opinion, has hampered their growth socially. My face-to-face conversations with Millennial tenants involve virtually no eye contact and plenty of texting.

Conversely, there are plenty of examples of people from my generation that are poor listeners, which has hampered their ability to make sound decisions. It is difficult to conflate the pursuit of a degree � and all that it entails � to the choices people made during the subprime mortgage crises. The only similarity is that both groups had plenty of information to make an informed decision, but were they listening?

During the subprime mortgage crises, people of all shapes, sizes and age groups made choices that were facilitated primarily by greed. I was very concerned that one of my properties sold at a percent profit after two years of ownership. Did I know about the banks reckless behavior in issuing stated income home loans, no; or, the subprime lending and lack of government oversight, no.

All I knew is that no one should receive that type of return on a property after two years of ownership, which prompted me to sell my entire real estate portfolio and sit on the fence � for two years � until I gained a better understanding of what was actually happening to the housing market.

A college friend of mine in his mids leveraged 80 percent of his net worth to participate in this market; he lost most of his retirement. Both were fully informed as to their debt obligations, but nonetheless, made poor decisions.

I must say, though, both of them took personal responsibility for their actions � no excuses, they learned from the experience and moved forward.

Blaming circumstances or others for bad decisions will most certainly handicap one form moving forward. I would be more afraid of not learning from those mistakes. Our generation millenials are maturing in a vastly different time than the previous generations. Cost of living is at record highs, wages have barely moved in the last two decades, and student loans is an abomination that I think will seriously mess up my generation in the future.

Even my dad told me his generation had it much easier. Am I complaining about it? Definitely not. Sure I worked hard, but I got lucky as well. After getting a few decent bonuses in my early years , I subsequently invested that at the beginning of the current bull market.

Nowadays, from the aftermath of , my bonuses are negligible. Are you a perfect example of a millennial who is doing well and has it good? Yes, of course there will be those who are still struggling. But even in the struggle, the access and technology we have is still amazing.

Congrats on your progress! Apparently the whiners and the winners are at odds among the Millennial generation. I agree that the Millennials have challenges, but so did many other generational groups; remember the stock market crash of ? The difference is that previous generations had two things working in their favor: grit and critical thinking skills. Millennials, in large measure, have neither one of these skills to help them survive.

In , my wife and I had recently graduated with professional degrees and begun working, and we had a negative net worth. Our home is rapidly appreciating in value, one of our cars a is paid off, our weighted average interest rate is 2. Our parents did not pay for our educations and I just work part time. We did several things to make this happen:. In our opinion, wealth building is more about what you do with your income than how much money you make.

Well done Dustin! I like what you say about wealth building as more about what you DO with your income rather than how much you make. There are some folks who discredit my progress or what I write because of the income I made while working in finance. But the fundamentals of finance are the same, and it is often times HARDER to stay in good shape or spend more frugally if you have more money to spend. It sounds like you have properly mapped out your finances and are tracking things well.

See: Track Everything! Just want to follow up on this. My wife and I have about 20 years of combined higher education. We finished school with student loans and a negative net worth at age But life has been good to us and we have made things work even better.

About a year after that post, we turned our first house into a rental and bought a second house. Thanks to appreciation and wise asset allocation, we just reached K net worth at age This is what I mean when I say that the curve for highly educated people is delayed but tends to accelerate faster than for those who start working at A big part of this was going big into leveraging debt to acquire real estate.

We still owe nearly K, but own over 1M in real estate and that debt is only at an after-tax weighted average of 2. Perhaps oddly, this strategy prevented me from contributing to a retirement account until age But given how we are now rocketing past our age-group, it appears to be working quite well.

When did living with parents become a bad thing? My wife and I lived with my parents for almost a year before moving into our first home. Each of our children lived with my wife and me after college. Our first grandchild was born while his parents were living in my house. We were happy to have the company and they were able to save money. I think living at home for several years after college is totally fine.

Especially if you can save money and use that money to buy a home. I would also be wary of painting an entire generation as lazy. Millennials by definition have higher healthcare costs, record student loan debt, a challenging job market, etc.

These decisions are mine, and I own them. I just know that these statistics, as they relate to the younger generation, are far off � especially when compared to other studies that report on the same numbers.

Take it from someone quite a bit further down the lifeline than you are and with a grain of salt!! I love the mix and it has yielded long term results. Perhaps others can do it better than I have!! Quite a few young motivated folks here and a mix of whiners too � claiming the bar is too high at the ripe old age of something.

I have made a lot of mistakes and am not the smartest guy in the room, but I am motivated, hardworking, and very very persistent. If you think the charts are tough at 25 and are complaining about it � cry to mommy and go home. I am and have been about 2. No inheritance, no family money, no free ride in college but please try to dismiss me and whine about your problems.

Shut up and work whiners. To the rest � congrats.. Same here. Grew up in a dingy 1BR apt on the wrong side of the tracks. Paid for my own school, and cars, and everything from 16 junior in HS on.

But I am also going to let everyone on a secret � get married to a great partner. Life is easier with a teammate who has your back and vice versa. Best financial decision accept that she might be a cost center, but whatever i ever made was to marry someone who shared the same values and goals and stuck it out through think and thin.

I too paid my own way through college with three jobs and a small school loan. I slept in my car the last semester of my senior year to save money. To me, searching couch cushions for spare change was a sporting event.

But, inch by inch, I worked my plan to get out of it. I lived with my brother after graduation while interviewing for jobs during the day and working night-audit shifts at night. Once employed, I formed an investment club with a college buddy. We eventually had enough to start investing in buy-and-hold real estate, the rest is history. My plan is not necessarily your plan, but there is a way forward for you.

There are many people reading this blog that have found their path in life; others are looking for it. It is up to you to find yours. It is up to you to give [life] a meaning. Do you think these numbers are not accurate because you are below these figures and in your 20s? There is no discrimination regarding how much you can contribute to the k up to the max. I started saving for retirement way before anyone in my social circle, too.

At 22, no one else knew what a Roth IRA was. Got it. Everybody who objects to my figures tend to be under Just give it some time. Spend more time reading pertinent articles, searching the web, reading my archives and you will see different perspectives.

I promise you if you spend a couple hours one day reading posts on this site, or if you want to support financial education and read my Best of Financial Samurai book, you will get super motivated to build your wealth and actually gain more wealth over time.

If you have literally no way to save money, how are you supposed to save money? One paycheck goes to student loans, and the rest goes to food, gas and rent. I go to work, and I go home. It takes a whole lot of sacrifice to max out my Roth every year.

I went to a relatively expensive private college. I would be able to go out to lunch once a month! I would be able to not let my gas ride on E! I would be able to get the medication I need!

But the average person my age has a huge amount of student loans. Those must have been some incredibly large student loans! I know plenty of people my age that are doing very well and some that are not doing great. For the most part, those people are either entrepreneurs or have worked their ways up in their careers to command very healthy salaries, combined with modest living.

You should not be putting money into a regular IRA or k if available as you most likely will continue to increase your income. I was largely able to avoid accumulating student debt. As an undergrad I went to community college for three years and an inexpensive state school for three years. I paid for that by working as a dishwasher and a pizza delivery driver. Coupon options change often according to your available selections. SALE Sale.

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