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Has anyone set up a template follow-up email?
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I’ll tell you right now that the people who respond will be above average in terms of their savings.
$30 million per ChatGPT
Seems a little low
Are you single and what city?
Subject Expert
It really depends. Some people I know are well over $1M but that’s because they had no loans and lived frugally for a few years.
Others I know are closer to $200k or so because they had loans and/or lived more comfortably.
All depends on loans, bonuses etc. - assuming you were maxing retirement and stuff through this time period I’d think $1M
Love calling out the low earning spouse lol
When you say savings do you also mean retirement and investment accounts?
FWIW, I’m a 9th year and not counting my SO’s savings, I personally have around 1M across savings, investments, and retirement accounts. This also does not include equity.
I graduated with around 180k in student loans, which are now fully paid off, but I received a small inheritance several years ago that helped me pay them off in full.
The last few years I bought a house, did some major renovations, and paid for a wedding. All of which significantly ate up into what i was able to save.
I don’t consider myself frugal, and I’m definitely not someone on a “fire” track, so I suspect folks like that would have much more saved.
I wouldn’t compare yourself to others here because as others have said the spread is going to be so varied because we all have different circumstances. If you’re ahead, awesome! If you feel behind, start by maxing out your 401k and backdoor Roth, and make an effort to put away at least 1-2k a month if you can.
Uhhh maybe I have about $600K among my savings and am about to put down a hefty down payment for a beautiful dream home. I’ve had too many things happen in my life to not enjoy the money I make with my hard work. I am responsible, but I can die tomorrow for all I know—might as well have died knowing I got to see the world and taking care of the people I love… I’m a 7th year married with a low income SO and no kids.
Class of 2021. I live frugally and I save most of my paycheck, made bonus 2/4 years. I buy a nice watch every year, and have had some major costs like buying solar system in cash, renovating parts of the house, etc. I don’t spend more than 5% of my net income on cars. with that, I got $450-500k net worth. At your level, I’m planning to hit roughly $1M if we don’t have a massive downturn or if I’m not pushed out.
Mentor
About a mil
You should have your student loans paid off, but beyond that hard to tell. Personal finance is personal. Single attorney in Texas is way different than a single earner household with four kids in the Bay Area.