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It’s recommended to have 1x your salary by 30
https://www.investopedia.com/articles/personal-finance/010616/whats-average-401k-balance-age.asp#:~:text=By%20age%2040%2C%20you%20should,you%20should%20have%20%24750%2C000%20saved.
What about the planet being on fire by the time I retire? How much should I be aiming for by then?
I had about $100k. I started contributing the max (~18k per year) in my mid 20s as soon as I could afford to. I have anxiety about not saving enough and felt like I was felling behind so I wanted to catch up. I’ve kept it up and now at 35 and I have $200k.
I’m 35 and have only 17k!
At 30, maybe $7k.
I had zero. Didn’t know enough. 😕
Same.
33, $25k and falling
15k
Probably around $70k when I was 30. Only recently now can contribute 100% of the max, and I've been feeling behind. Glad I'm not the only one!
Maybe $60,000? At 36 I’ve got around $150,000
Well I’m 34 and have $45k so ya I’m behind
I’m 26 and have $45k but am pausing contributions for the next ~2yrs while I live abroad
32 and I have roughly $57K.
I’m 30 and have roughly $75K in my 401K
38 and maybe 30k total. The last couple years are the first years I haven’t had to use my savings to help pay bills. I’ll probably never retire.
Re: savings to pay bills… same here!
I’m almost 31 and prior to all the market downs was around 80-90k. Don’t want to look right now lol
At 30, only about $18k and that was only a couple years post the GFC. 11 years later I have $337k plus liquid savings. Save aggressively now and let compound interest do its thing.
I think I’ve got about $19,000.
Do any of you have a separate savings account in addition to your 401k?
I have more money in a different savings account which basically doesn’t earn interest. In this short period where I don’t have a financial advisor, I’m going to ask the bowl 😅 if I should deposit more into my 401k or keep it in the current SA due to the recession. Thanks!
The emergency fund in a savings account is a necessity, but wanted to add that you should put it in a high yield savings account.
Something like a Barclays savings account that’ll earn you around 1.1% APY vs. a regular savings that’ll only earn fractions of a percent. It’s not much but worth the extra hundred or so bucks a year (depending on how much you have in there obviously)
Bought a house at 28 that basically wiped out most of my savings. Hello 2021 housing market. I am hopeful I’ll have $10k back in there by my 30th.
I probably had 25-30k when I was 30. I did also pay off 50k student loan early as well.