What’s an ideal minimum net worth to have by 30 years old? I know everyone’s path is different and retirement plan is different, so let’s go with HCOL area for someone looking to retire by 55.

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General rule of thumb is to have 1x your income saved (including 401k) by age 30.

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Well considering we are on fishbowl and amongst peers where it’s not uncommon for people’s income to double in a short period of time I think it makes sense to provide advice re what the general advice for our type of demographic is

$69,420

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$3.50

Ideal? Probably like 500m?

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I’m at 140k and I don’t see FIRE happening. Paying off my loans set me back

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If you pop some of these numbers into an online retirement calculator it should give you where you need to be by 30

Impossible to day without more information, but this is what I would consider a good number: If you’ve been working since 22, 150-200k. If you’ve been in grad school or are new to the workforce, 50-100k is good.

From the top 20 personal finance guidelines…

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This is completely made up LOL

1-2x your annual salary saved in retirement assets by 30. Not including your emergency fund. The total amount that you would want to save by 55 would be the total annual amount that you want to live on divide by 4-5% discounted back to present value (when adjusted by inflation), which is how far you away from retirement. —or if you won a small lotto today.

Otherwise, you would have to push your retirement goals further to achieve more compounding thru time.

Thank you for this. Just wanted a straight forward answer without anyone trying to protect feelings.

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https://www.financialsamurai.com/the-average-net-worth-for-the-above-average-person/

I turn 30 this year, our NW is > $550K (mine personally is a bit less than $400K of that) , but we’re about to quit and travel for a year so it will go down drastically. I‘ve also been in biglaw for the last 5 years which has abnormal salaries for associates & we hit the jackpot on our house which had appreciated exponentially since we bought it (totally happenstance but obviously best case scenario).

Ideal minimum? Maxing out your retirement accounts (401k, HSA & IRA) for the past 5 years, 3 years before that where you only maxed IRA but at least made employer match into 401k plus plus some investment interest, so roughly around 200k. This is the FIRE Bowl though…

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