{ "media_type": "text", "post_content": "For my ~30 year old peers, what are your savings — cash and assets? I’ll go: $250k in cash, currently only own a car and have $70k remaining in student loans. Curious to see the spectrum for our profession.", "post_id": "606f5201e5c9d0001cb1f801", "reply_count": 275, "vote_count": 27, "bowl_id": "552d1d24dc1c586b09d2d052", "bowl_name": "Law", "feed_type": "crowd" }

For my ~30 year old peers, what are your savings — cash and assets? I’ll go: $250k in cash, currently only own a car and have $70k remaining in student loans. Curious to see the spectrum for our profession.

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34 (2011 grad), before I start, I’ll add context: I work in Midwest city that is not Chicago (Michigan). I moved to said city in 2013 to start new job at AM 200 firm (prior job was small firm paying $50k per annum) with $200 to my name, about $160k student loans, no house, and no car (like had to rent a car from Hertz for two months until I could save for down payment). Now, I have about $110k in checking, $275k in savings (excluding the $120k for first quarter tax payment), $350k in 401k, $80k left in student loans (I know, but I’ve had some bad luck that I’ll never go without cash), $290k on the house, a couple of cars (one paid off), and two kids (in private school) and a stay at home wife. Yes, I’ve done well and no I’m not cheap, but the point is if some of you are not in the position you want to be you may want to leave where you are at. I left a big city for this job and it was the best decision I’ve ever made for me and my family.


30, 3rd year biglaw in VHCOL like SV/NYC. My total NW is around $230k, 12k in roth IRA, 80k in taxed account, 10k in HSA, about 15k saved separately for family, and the rest in a HYSA (I know, it's too much). No 401k yet but wondering if I should start.

I'm thankful to be where I am - I'm from Asia and easily pay more in taxes than what most of my peers (and even those ~10 years my senior) make each year. I moved to the US for law school. Graduated college debt free (scholarships, jobs, parental help, in that order of $$$; college is less than $10k/year where I'm from!). Got about 70% scholarship for law school so tuition was maybe 70-75k for all three years. I paid for most of 3L with my 2L biglaw money. I still had a lot of help from parents: they paid for living expenses (prob 1800-2000/mo on average, this includes flights home) and loaned me money for tuition. I paid back all my tuition and then some last year and save a bit each month to send home 1-2x each year. Hoping to get out of biglaw sometime between my 4th and 6th years but legitimately have no idea what I want to do once I exit.

Start 401k ASAP as it decreases the amount you pay in taxes each year.

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Yes, hi. Brace yourself, I’m about to dazzle you all. I’m 35, I graduated from law school in 2016. I have $13,403 in my checking account but that’s mostly the result of stimmies and a tax return. I have $25.03 in my savings account. I drive a 2008 and a 2005, both with loans, I have no credit cards (couldn’t afford them if I did!), I did manage to buy a house that I have a $225K mortgage on, and I owe $107K in student loans that I will never pay off. #livingthedream #askmehowIdidit


Graduated 2010. Never been able to put a dent in student loan beyond interest. Loan now more than when I graduated. Can’t afford a down payment on a house because I pay rent and can’t save. Also a house would cut against my net worth come forgiveness time. Divorce didn’t help matters. So yes...also living the dream. Godspeed A1.


If you have $250k in cash you should pay off your loan now



17, went to law school right after kindergarten. $9m in watches, 20 in cars, own 8 homes in 4 different countries, and have about $80m buried in arbitrary locations around the globe.


27, not big law. 30k in cash (saving for house), 140 ish in fed student loans (IBR), I own my car, and have around 10k in retirement/investments.

Asterisk for the bootstrap factor? I imagine folks who had a financial helping hand earlier in life have more liquid assets/less debt than those of us who didn’t. Comparing me and Chad from Greenwich seems like apples and oranges.

No offense to the Chads, get it how you can. I loved partying with you in college.


Chads are running deep on this thread


I’m 32, graduated law school 2017. I have about $25,000 in my savings account, not exactly sure about 401k (somewhere around 50k?), finished paying $250k in student loans in March this year. No house. No car. No kids. My money has gone towards sending it to my parents and paying off student debt, so I feel really behind and but am really eager to beef up savings and retirement starting this year!


Cravath scale — I’m in Biglaw NYC


The self-pity on this thread is ridiculous. Not everyone that has achieved success for themselves is a Chad. Your current position is the sum of your prior choices. I’m a female 2008 law grad. I went to a state school on scholarship for college despite getting into expensive “better” schools. I graduated from a top 10 law school with 150k in debt. My husband did the same, but with about 80k in debt. We married in late 2011 and had our student loans paid off by early 2013. I didn’t have a car, or fancy clothes, or other things people think they “need.” We currently have 2.7million in financial assets (passively managed mutual funds and retirement accounts), plus own a 850k home (we have about 350k in equity), and have an infant daughter. No parents or benefactors gave us anything. We worked our asses off at big law and later at a small entrepreneurial plaintiffs’ firm. We are financially disciplined and educated about smart investments. We are planning to retire in next year before either of us are 40.


This post reeks of entitlement. Enjoy your retirement, though 🤷‍♀️


$6000 in savings, roughly $2000 in a 401(k) and like $150k in loans?? Assuming I am at the low end of the spectrum here...


Honestly, solid idea. May consider. Whenever I think I’m getting a handle on cc debt, life happens and I’m back at a revolving 25-37k depending on the month😂😭


I’m 27. I have a 2019 VW that’s paid off and $20K cash. No loans


I am happily married with two kids I actually get to spend time with. My net worth may be pathetic, but unlike most of my classmates I’m on marriage one/only and my kids know what it’s like to have a mom. I’m ok with a small bank balance!


... why do you have so much cash 😂


I had the same question

1,000,000,000 in cash. There I’m better than y’all


Lol this is the most humblebrag post comment I’ve ever seen in my life...jfc


For different perspective—48. 15k in bank cash. Mortgage 450k. Married w two kids—one off to college soon (4K in a 529–thanking God for grandparents). Two cars paid off but soon inevitably requiring expensive repairs. 1.1M in my retirement accts (my husband has 1.5M in his) We have an HSA we fully fund each year and we never draw out so medical is all out of pocket. Credit cards run about 12k each month which we pay off in full each month. We vacation and travel on cc points and miles primarily. 10k in student loans left. Planning to pay off right bf I retire early (in 4-5 years) except for whatever dabbling I may want to do for the right client, case, cause or deal.


There is no non Retirement account other than the 15k in the bank. No other stocks or investments. The grandparents have the serious 529s for the kids.

I’m 26. Graduated 2020. $400k cash/assets among brokerage, IRAs, 401k, and HSA. Parents bought my car in 2016 (2015 Audi with 80k miles), so no car payment. $10k in student loan debt. Will pay it off as soon as interest/payment freeze ends (see no reason to do so right now).


@Corporate Associate 1 you hate to enter oppression Olympic yet that’s exactly what you have done and declared yourself the winner??? I think there’s an important discussion being had here about privilege and the fact that success in America is not entirely meritorious. Tell us more about your life! I can bet my bottom dollar that you went to college on near full scholarships, a privilege that a lot of middle class American kids near the income cut of for scholarships never get. Some colleges have done better and made eligibility a sliding scale...

My circumstances are identical to yours. I got to go to both undergrad and law school on full scholarship. In undergrad I was so poor that I also received a stipend to cover books and living expenses. In law school I was so poor that I was able to get diversity fellowships to cover my living expenses and books! Those fellowships were reserved for kids of a certain income bracket. Like you, am very successful now but I certainly empathize with my lower middle class friends and colleagues who didn’t get the enormous life changing help I received and now struggle with huge debts. Unlike you, I haven’t always wanted “to shut people like them up” because I recognize their struggles are valid! I swear you’re Exhibit A for why some people hate immigrants because you come here and benefit from all the help and resources then have zero consideration and compassion for others who don’t get the help you got. You’re the reason people say we take opportunities and resources away from poor Americans. I think we need to listen to our fellow colleagues struggles even though we’re in a much more privileged position than they are.....

Just a thought.....


32, work in government, about 35k in cash, maybe 100k in retirement, own my car, have 128k left on my mortgage and the house is worth about 230k, have 300k in student loans, but I’m less than three years away from Public Service Loan Forgiveness.


I’ll also add that my parents helped me with a down payment for my house so I could avoid PMI, pay my portion of my cell phone bill, have contributed about 15k to my retirement, and pay for my flights when I visit them for holidays. While I’m also pretty frugal (I have a used Toyota I bought with cash that I plan to drive until it dies), I realize the help from my parents is a big privilege that a lot of people don’t have.

2017 grad. 30k savings, 75k in home equity, 250k in student loans. 5K in 401k. I hate my life.


Story of my life. I have a little more equity but only because the houses here are over a million. Still hate my life.

2019 and my net worth is like -250k. Living the dream.


I don’t even know why I’m reading this.


These posts make me sad. For other people who also feel sad from these posts, here’s me:

27, 2018 grad, mid law, $6k in cash, car lease, $99k left in students loans, less than $10k across retirement accounts. No credit card debt and don’t have a house.

I might have a negative net worth, but my Mercedes Benz (lease) is worth every penny to me!


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