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$145K with no debt. Senior in Bay Area with $91k salary. 4 years experience. Half in 401k/IRA, rest in Vanguard Target Date fund and cash.
Male, 32 - 605k
The tax treatment composition of your portfolio makes it tough to compare amounts. For example, someone with 400k in Roth 401k has a larger portfolio then someone with 500k in a traditional 401k
Y'all are some very financially successful mofos
Basically, D1 is right
What’s the purpose of this post? Why not share how you got there? Good investments? Pure savings? Side hustle? Something else?
I never said “net worth.” I used the word “amount.” Maybe I should say net present value because a traditional 401k would be less than Roth 401k due to future taxation (assuming equal amounts).
WM1 - good point on the purpose. I just wanted to see how I stack up because the CNBC money articles are pretty useless.
Went to public school for college, did tech sales for couple years, knocked out $40k student loans fast and bought a car, made far more than I should have those sales years but moved to B4.
Currently maxing out 401k and Roth IRA, throwing the rest into brokerage. COL is very high so not much left over.
Feel like I'm doing okay but now seems like I'm way behind.
You will, but 5-10% is probably a lot better than your current marginal tax rate.
$240k with no debt. 6 years of experience plus an MBA. Follow a pretty concentrated equity investment philosophy, so currently 50% invested in a few stocks and 50% cash waiting for an interesting opportunity.
So far, about 25% of that has come from investments and 75% from savings, I hope to swap that ratio over time.z
37 - 850k
W2, rental property and stock and options trading. Just founded an angel group too
Nice bit of home equity EY! Do you normally hold so little cash? Been debating the merits of the 6-12 month emergency money thinking and so am sitting on more cash that I would like
D1 the portfolio is identical Roth or not. Net Worth is a specific term, you don’t need to redefine it.
NPV of 401k for the purposes of FIRE are basically the same for Roth vs Traditional depending on how early you FIRE. Having a large taxable brokerage and a long enough conversion ladder allows you to sidestep the taxes in a traditional almost entirely. Roth 401k is a bad deal for those FIRE minded. NPV depends very much on the individuals conversion and withdrawal strategy.
@SM1 that’s a good point, but unless you’re planning to live in poverty, you will still likely pay 5-10% in income tax. Or am I missing something?
OP we are all behind Zuck if you want to compare. You’re doing great just a few years behind most of the posters here. I wish I had half the amount you do at your age. Keep at it and you’ll be retired by 40.
And you also just agreed with me. “It is tough to compare NPV” because people’s conversion strategy (i.e tax strategy) differs so much. :)
SM1 — only works if retirement income is much lower.