An interesting chart I came across in a book by Nick Maggiulli. These are % of US households in each net worth category by age as of 2024. This bowl certainly skews towards higher earners w/ lofty goals but good to have some perspective and realize if you are a millionaire before 40 you are in the top 6% of your age group. If you are in your 20s and have next to nothing becoming a millionaire is not impossible but it may take a couple decades. If you need >$10M to FIRE would need to be top 1-2%.

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That’s like making yourself feel better cause you were born tall.

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Born tall?

Yeah what bothers me about these is that they likely don’t consider inheritances/parents wealth which is a huge deal.

It indirectly considers inheritance via later ages with higher wealth. It’s not your $ until you actually inherit it. Most of the time your parents live until you’re in your 40’s-50’s, 60’s-70 if you’re lucky to have your parents around that long.

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Net worth in your 20s isn’t a great predictor of where your NW will be in 20 years from now. Too much future variability.

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