I want to benchmark earning and savings for those 37 - 40. I’m in bad shape but hoping to change that.

Salary? $320K
Savings? $80K
Retirement? 0
Investments? $5K
Debt? $180K

likefunny
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Well this makes me feel better about myself at 25

likefunny

Just curious for those that have a ton of savings but no retirement. Why are you holding so much cash that isn’t making money for you? Why not put into retirement or investments? Genuinely curious as my situation is the opposite. I use my investments as basically my savings if things were to go bad.

30

Salary - 120
Savings - 10
Retirement - 70
Investments - 30
Debt - 350 house, car, student

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If things were to go bad, how quickly would you burn through your savings? And how dramatically would your investments drop in value?

Recent IconRecent

Thought of this tweet- jealous of that salary though, nicely done

Post Photo
likefunny

Wut....

likefunny

Listen, with that salary you just need discipline not comparison between people you have no clue about their situation. Focus on reducing debt, the rest will come

likesmart

33

Salary - 140k
Savings - 40k
Retirement - 0k
Investment - 0k
Debt - 0k

likefunny

35

Salary - 240k
Savings - $70k
Retirement - $600k
Investments - $700k
Debt - $90k

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It’s all 3% debt in tax deductible rental properties, essentially 2% after deductions.

Rather take that $90k and expand my portfolio

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Oof. Bad shape confirmed. No numbers needed. You can do it!

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32

Salary 110k
Savings 40k
Retirement 65k
Investment 135k (house down payment and stock portfolios)
Debt 400k (mortgage)

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You’re self-employed, so I know things are often more complicated than a normal salary worker (and they often treat the business as a retirement via an exit op) but this is shocking to only have 3 months of (pre-tax) salary saved.

Not all is lost, of course. On a positive note, being self-employed comes with a host of benefits to get you in shape: check out SEP IRAs. You can stash away 57,000/year through a combination of “employer” and “employee” contributions, so you can save on both personal and business taxes. Your salary affords you the ability to quickly make up on your retirement if you control the expense side.

Second, get off the hedonic treadmill. Simply put, stop buying crap you don’t need to impress people who likely don’t care (cribbed this from Dave Ramsey). My wife and I combined make $100k less than you and have 6x the assets you do (in a HCOL area).

Our combined car age is 9.5 years, we live in a “single family semi-detached” home (in a good area, but on the outskirts of the city). It’s all about choices my friend.

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35

Salary: 118k
Savings: 80k
Retirement: 30k
Investments: 0
Debt: 0

I gotta do something about my salary and Savings. 😑

Time to move on i guess.

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Similar age and in a way you are behind others but you have a great salary.

When did you finish school?

My suggestion is to begin by maxing 401k and Roth/Roth IRA investments.

Begin applying as much as you reasonably can do debt to drive down interest payments.

It also heavily depends on home mortgage/rent, col where you live, marital status, etc.

I’d speak to an accountant/financial planner on ways to optimize your tax rate and debt obligations.

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24 years old
Salary: $120k
High yield savings account: $13k
Brokerage account: $128k
Retirement accounts: $137k
Total net worth: $278k
Debt: $0

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That app is amazing. Highly recommend it to everyone else

For the record, I am a bit older but after going though an ugly Divorce/Custody where I lost a ton on Bad Real Estate, Duplicate Expenses and Lawyers I am slowly recovering in a small city
Other than salary these buckets were 0 in 2012 and debt was around 150k, you can do it!

44
250k Salary
40k Cash savings
15K Company stock plan
275K retirement savings
100K Other investments
200K home Equity
50K in 0% loans

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Cars........

Is that debt a house or miscellaneous things? If a house it's fine but if that's generic credit card debt you probably need to assess what you're buying.

School loans

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You only need one number - net worth.

36, $1.2M. Self made. Grateful for those who’ve helped me along the way

I’d contend there’s a difference in tax advantaged vs non tax advantaged accounts that adds a bit more resolution

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37

Salary - 250k
Savings - 350k (in the process of buying a house)
Retirement - 250k
Investments - 700k (condo)
Debt - 0

39

Salary: 160k
Savings: 180k
Retirement: 100k
Investments:0
Debt: 0 (own 350k home)

Invest savings or buy a property to rent out?

Invest into the market to perhaps diversify given you have a property?

32

Salary - 120
Liquid investments & savings - 120
Retirement - 25
Debt - 0

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