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Chief
Once you have enough to cover 3-6-9 months, depending on your situation and risk tolerance, savings are mostly irrelevant unless you're working towards a specific goal (like first house)
If you're asking to get a benchmark for retirement savings, that is also irrelevant. How much you have saved / could have saved / wish you had saved depend on too many factors. How much you make, the amount of student loans and other debts, chosen lifestyle, goals, etc.
25. I moved after graduation ( age 23) to a brand new city across country by myself and had about $2K in the bank. I received absolutely no help from parents and took all school loans out by myself. Car is completely paid off 2016 Impala with 40K miles which I could sell for easily $20K. I have no CC debt/bad debt. I currently gross about $130K.
$88,000 in personal brokerage
$32,000 in Roth 401K
$30,000 in rental property equity
$8,100 in cash
-25,000 in student loans
Any good books/podcasts you’d recommend to get started? Obviously it’s tough to network and go to meetings with the pandemic.
2.8M net worth at 25, received 2.795M in inheritance
I love the honesty.
At 25? Lol like maybe $3k.
At 25, my savings was essentially $0 - whatever was left from my last paycheck as I worked my way through law school. My net worth was negative.
As I close in on 50, I’ve got $100k in my checking account and have a net worth of about $2.2M.
Don’t get too stressed about measurables at this point; focus on good habits. Measurables will be a natural consequence of good habits.
These answers are, predictably, outrageous.
I had probably about $1k...but didn’t pay off student loans til 30. Wait, are any of you advertising people?!
Phew.
At 25 my net worth was about -2k not including my wife’s assets (she had no student loans and a vehicle from her parents). Most of these high numbers you’re seeing are due to parental help, luck, or being top .01% for post college jobs. Run your own race
$1 Bob
Just turned 24 living in Arkansas.
- no student debt
- 7k stocks (started this year)
- 8k savings
- 3k retirement
Currently building up a little bit more in emergency savings and learning more about real estate investing. Will hopefully get a salary increase in the next 6ish months.
My first job was in NWA. I moved to LR in February.
~$90k
Breakdown:
$35k savings
$10k index funds
$45k retirement
No debt, paid off $15k in student loans years ago, and $10k of my retirement savings was a gift from parents. Salary $85k
Graduated at 20 but this was only 3.5 years of salaried jobs in HCOL cities,1 year of which was in consulting. My first job started at $40k. And I took a year of no salary for grad school. I prioritize savings (like with an elaborate 5 year plan) more than the average person my age and have yet to live without roommates because I enjoy living with people and it helps save money.
Negative $40,000 from college loans and credit card debt
Rising Star
When I was 25, I know I had at least an 90%+ savings rate. I was in a unique position. I travelled a lot for work and wore the same clothes each week. It saved me money and time by having a week set of wardrobe that were simple and classic. I also decided to move back home after a year of living on my own. It wasn’t worth paying for an apartment when I was only home on the weekends occasionally. I didn’t have to pay for the majority of meals as it was part of the travel benefits. I used rewards earned from restaurants for meals when I was home. I “made” extra money with mileage. My net worth then was $262k.
Rising Star
I graduated college at 21 and lived in my own for a year. I moved back to my parent’s home when my lease ended at 22 and then moved out on my 26th birthday ($306k). I moved out because I communicated to work that I didn’t want to travel as much and got a puppy. My travel decreased from 80% to 25% (now 0%) so it made it worth it to get my own place. I live in a low COL area where my rent without a roommate would be $580 for a nice place and about $450 with one roommate. I could afford to live in my own at any point as it wouldn’t have significantly impacted my net worth, but it was just the wasteful thought of paying for something that I was barely using.
If you have a good relationship with your family, are able to remain independent while living at home (pick up after yourself without being reminded to and free to go and come), family can afford it, and nearby to your parents, I recommend moving home. Not only do you save money and time, but you’ll get to spend time with your parents. The pandemic has reminded me to spend as much time with my parents as they’re getting older. If you do move home, no matter if you pay a reduced rent or no rent, try to contribute to the household. I lived rent free at home, but always cleaned the common areas (minus kitchen), purchased the grocery for my parents, and ran errands for them before or after work.
I'm 25 atm with 2 months left! No contribution from family have been working in big 4 since 21.
130k of savings:
23k land
19k retirement
88k in shares and ETFs
Actual land as in massive patch of grass
Around 60k and I didn’t get into consulting then, I was saving since I was 16 years old making $12-20 hr various jobs.
None
Maybe $10k in my 401k and that’s it. Entry level media jobs pay almost negative amounts.
Same as you buddy
I was either in debt or close to zero net worth. Working in restaurant industry to support myself in college. Everyone has their own path. Comparing yours to others should be done cautiously and sparingly. If you’re always comfortable with your decisions, you will never feel “behind”. Not to mention, we tend to compare ourselves mostly to those who exceed ourselves in whatever metric we’re interested in, but there are many, many more people who you are “ahead” of.
Thanks all! My breakdown at 25:
Total: $47.5k - student loans
$25K 401K
$11K stocks
$3.5K Roth IRA
$8K savings
(-20k student loans) 😞
I was not good saving my first 4 years out of school but have been slowly working towards it and learning its importance.
Had just started my consulting career making 50k and moved across the country. Net worth was probably negative 50k with student loans, credit card debts, and new car.
25 rn, maybe 10k in savings BUT i just finished paying off my student loan! gonna see my savings start to grow :)