At age 25, how much savings do you / did you have?

likehelpful
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

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.

likesmart

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

likeuplifting

Any good books/podcasts you’d recommend to get started? Obviously it’s tough to network and go to meetings with the pandemic.

Recent IconRecent

2.8M net worth at 25, received 2.795M in inheritance

funnylike

I love the honesty.

like

At 25? Lol like maybe $3k.

like

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.

likeupliftingsmarthelpful

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?!

like

Phew.

like

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

likesmart

$1 Bob

likefunny

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.

like

My first job was in NWA. I moved to LR in February.

like

~$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

like

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

like

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.

likefunny

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.

like

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

like

Actual land as in massive patch of grass

likefunny

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.

like

None

like

Maybe $10k in my 401k and that’s it. Entry level media jobs pay almost negative amounts.

like

Same as you buddy

like

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.

like

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.

like

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.

like

25 rn, maybe 10k in savings BUT i just finished paying off my student loan! gonna see my savings start to grow :)

like

Related Posts

What does a mental health day look like for you? Took one today & it was the best thing I’ve done for myself. Bonus Q: did you own up to it being a mental health day or did you go to “the dentist"

like

Everytime I work on the weekend I get into some sort of fight with my spouse. Anyone else get annoyed when their spouse constantly asks you when you’ll be done working, or asks how much longer you have to work. It annoys the hell out of me. I don’t want be working on a Sunday anymore than my spouse wants me to be working. But I have to. I don’t need reminded that I am disappointing my family in addition to working on the weekend. Am I alone in thinking this? Am I wrong to get so annoyed?

like

Any Servicenow consultants here?

Looking for something to read as the weather gets cold? Follow @lonslibrary on instagram for book recommendations and reviews! I recently started the account to track books I think are worth recommending to people

like

If you’re an employee at a start up and it gets acquired/goes public do employees at the startup typically receive payment?

likefunny

The amount of people, even attorneys, who can't separate out the policy merits of abortion from the issue of whether it is a constitutional right is disappointing. I consider myself pro-choice ---I believe states should allow it, that the federal government can pass a statute to guarantee it, and that FDA statutes and regulations will preempt any state trying to ban chemical abortions through FDA approved drugs. Dobbs at its core is a case about the Due Process Clause, not the policy of abortion

likesmart

Is an MBA really worth it for a career pivot?

like

Are employees working in adnoc exempted to pay income tax in India?

I’m looking for advice. I’m with a company that will be going through an exit soon-ish. It’ll be big. I have a fair amount of equity and I’m fully vested. But I’m so burned out from the pace and the stress of getting us across this finish line. Has anyone left a job before getting through the transaction? I know there could be a bonus at the time of the transaction or benefits of staying after the transaction, but I am not doing my best work and I want to be motivated and inspired again. Cont’d:

like

What are you supposed to do when its raining?

Anyone else turn all the watches in their watch box to 10:09 after they’ve stopped?

like

Does anyone travel from Princeton NJ to NYC, how much does it cost for monthly commute and is it do able ??
Do you pay tax at both states ??

Thanks !!

like

I want to find out what are CDM, CFPP being paid in California,LA area.

like

Male costume ideas... shits coming up way to fast and I can’t go out as myself again... too scary.

like

I haven't really been paying attention. Can somebody let me know what the covid vaccine actually does? Does it just surpress the symptoms for myself, or does it actually stop the spread?

like

How many other ladies adopted to keep their last names versus adopting their husband's? Most of my clients and coworkers know me by my last, so like to keep it for professional reasons.

like

I got positive feedback from HR after interview rounds, and asked to send required documents for compensation discussion. It's been a week and no response after sharing the docs. How to handle this scenario. I am getting excited but have fear that I will ghosted

Should I wait for some more time?
Should I mail/call HR regarding the update?

like

Wells Fargo... honest question... are you getting any backlash from clients? Anyone leaving due to the bad press? (For the record, I think it’s overblown)

like

Additional Posts in Personal Investment Chatter

I am looking for reliable property managers that help with buying and renting investment properties in the following cities. If you have had a good experience with any, please share.

Boise, Idaho
Atlanta, Georgia
Dallas, Texas
Orlando, Florida

like

On personal Capital, how many of you add the value of your car to your net worth

like

Anyone run a side business for the tax benefits? Thinking about things like the over 6000lbs vehicle tax deduction, home office deduction, etc. What sorts of business do you all have?

like

“Fool of a Took”

Post Photo
like

Curious for some advice…

I currently have a Cap One Venture card. I have had it for a couple of years now but I am interested in upgrading to a Venture X card.

No promotion has been offered to me to upgrade my existing Venture card to a Venture X card.

Should I wait until that promotion is offered to me? Or would it be dumb to apply for a Venture X card separately and a) hold both cards or b) close out the original Venture card.

like

Can anyone recommend good investment options in Bank of America HSA account? I feel their funds are very limited compared to what I have seen from 401k and IRA. Anyone recommends your HSA account?

People investing in rental real estate what’s your ROI this year? My profit divided by current value is barely above 3% (and that’s with no renovations and 100% occupancy). Should probably sell it and invest elsewhere...

like

Start tomorrow but I don’t get a match for 401k until 2nd year. Living at home and wanted to pay off my loans. Is it ok if I just do loans, max out IRA, and have an emergency savings? Projected CONTD

How important is it to diversify your index funds? I have mainly large cap US funds, but wanted to see if it’s suggested to diversify into small/mid cap and international. If so, what are some good ones?

like

How to rebalance my portfolio? I bought a majority of my investments in the worst market conditions in 2020 and so maybe I’m just jaded by my own previous success/luck with that. Should I be selling off the non - etf stocks at some point? Or do you just hold those for ever if they don’t go to shit (e.g. should have sold off my PLTR a long time ago but since i was mostly just playing there i have held) ? When to get out? How to tell if you’ve held long enough to avoid short term cap gains?

like

Would anyone like to share ways they give back or donate? And at what % of net?

like

Need some advice for investing, I make a base salary of 180k - meaning after taxes and 401k etc I take home 9k per month. Child care , living expenses - 4-4.5k, investments in india - 2.5k, I have up to 2-2.5k left every month. Should I be putting all of it in ETFs ? That would be about 33%-25% of my salary. I put my bonuses and stocks in savings accounts and CDs for my kid. Thoughts? Thank you!

like

Does anyone do a high level check of all earnings less all major purchases cumulatively to see what it comes out to compared to what you actually have in liquid assets? Basically your own cash flow statement kinda? Is there an easy way to do this or a tool available? I currently use Excel and it's been accurate up until this year and I can't figure out what's off, it's annoying..

like

Is BRK-B a buy right now?

like

About to get a payout from a legal settlement ($300k-$500k). How would you invest it or what would you do with this money if you got a payout like this? My goal is to build exponential wealth, but would love everyone’s thoughts even if it has nothing to do with investing! (I’m 25, not married, no kids, have about $240k in student loans, and no savings)

like

It’s not much compared to most of the posts I’ve seen in this bowl, but I finally hit $10k NW after I started working FT in August.
Everyone in this bowl has been a tremendous help in this process. I’ve never been good at saving, so this is a big milestone for me. Thank you again to everyone who gives out advice in the bowl, it is truly invaluable. Happy NYE! ❤️

Post Photo
likeupliftingsmart

Thinking of putting a large sum in ETF. Should I wait for the market to go down or should I go ahead?

like

can I put 6k in 2020 roth ira now and 6k in 2021 or am i going to get smacked?

like

How much do you take home after tax and maxing pre tax 401k while making 144k? Not sure if I'm doing something wrong with my withholding. I'm married filing jointly withholding at a single rate, 1 federal and 1 state. DC location. I'm only taking home $6k a month.

like

what’s the most you’ve spent on brunch 🤣

funnylike

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal