Turning 30, with $50k in the bank. Luckily no loans left, but still feel like $50k is way too little. Living in NYC is draining my wallet, even when I try to eat at more more than 50% of time.

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I didn’t start my career until 28. I’m now 33 with 250k saved which isn’t a ton but still a great start! You are ahead of where I was at 30. You can do it!!

likeuplifting

Damn. Thats quite good.

I am 26 with debt and only 5k

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I came out of B-school at 28 with a mildly negative cash balance. But been stashing away slowly and steadily since. It’s not about what $ at what age - more about what your goals are and how you’re tracking to them.

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Is 50k including your 401k? Having a bunch of cash isn’t always a great thing unless you’re looking to buy a house soon

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I’m older than you with -$150k net worth (yay MBA).

Don’t worry about it. Just keep getting invested and you’ll be fine.

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50k is good bro. I am also turning 30 with 20k and 2 active loan.

Do you have any money saved in retirement funds or is the 50K including that? Did you recently pay off debt or have you been saving basically 7k/yr since graduating?

Without knowing how much you make and looking at what areas you are spending that money, it’s hard to give any recommendations.

If you feel like you’d like to save more then start with that, then you can begin figuring out where you can cut down on spending

NYC is expensive so you’re doing well. If you’re maxing your 401k and are debt free, save and enjoy NYC

Can you move somewhere with a lower COL?

Is your $50k just sitting in a bank account? If so, really suggest you look at managed portfolio companies, such as Betterment. Keeps you liquid if you need to be, but otherwise your cash is earning interest based off of your risk profile (bonds/stocks mix). Ps if you need a referral, lmk & I’ll send you one so you & I both get a free month :)

Anything saved is great! Not everyone has that ability

Come to TX buddy!

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New to Ontario. Are there tax saving strategies I should be aware of?

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How concerned are you about inflation? We have 70% savings rate and 50% of our expenses are housing / utilities of which the largest part is rent which is a fixed contract (no CPI escalation, no automatic increases, paying same rent for 4 years). No car as we are living in a large city. So if I look at the components of CPI and what’s rising I am feeling pretty „good“ about it. The one thing I am „worried“ is asset inflation but obviously that benefits me directly. What am I missing?

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Hi guys
I am from EY india
I have declared my investments in tax declaration portal , still I see in monthly salary that there is huge tax deduction.
In my previous organization, once I declared my investments in the tax portal , then my salary was very less affected by tax deduction.
But in ey india , I don't see any effect after declaring my investments.
Kindly help me how to declare investments so that there will be less tax deductions from my salary .
#EYINDIA

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To take advantage of the next big economic downturn, should I set up a Robinhood or Charles Schwab account?

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Here are some awesome apps for investment:-

1.Groww
All in one app- investment in Mutual funds,stocks,IPO,FD,Gold.
Link:-
https://app.groww.in/v3cO/61bcf14

2. Cred
For managing all credit cards at one place. Think as someone is paying you for your credit card bills.
Link:- https://app.cred.club/spQx/ce090339

3.INDMoney
Invest in foreign stocks and efts. As you need to diversify your portfolio.
Link:-https://indmoney.onelink.me/RmHC/9cb8da54

4.WazirX
Its my favourite for crypto investments.
Link:-https://wazirx.com/invite/j9kk5ted

5.12%club
For parking your emergency funds and getting 12% p.a is exceptionally good.
Link:-https://twelveclub.onelink.me/2Cmd/25922c

Never put all eggs in one basket.

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