How Much Money You Actually Should Have Saved By Age (2024)

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This is how much money you should have saved by your age, in 2024. These numbers are updated to reflect the new balances of the population based on the Survey of Consumer Finances which is done by the Federal Reserve every few years.
My last video on this topic was back in 2021 and used the old set of data, so this video should be much more accurate. Again, we want to be aiming for higher than the numbers presented in the video, but always easier said than done. Let me know in the comments how much you have saved and your age!
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Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
⏱️ Timestamps:
0:00 - Start Here
0:24 - Age 20s
3:40 - Age 30s
8:09 - Age 40s
10:32 - Age 50s
12:29 - Age 60s

Опубликовано:

26 июн 2024

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Комментарии : 626

@humphrey Месяц назад

Let me know how much you haved saved by leaving a comment (if you're comfortable). Thanks for watching 👊

@MomoHitsujiOwO Месяц назад

Paid off my student loans last year and now have 13k saved up in my HYSA! Edit: In my 401k, I have 40k saved so far!

@morrinohara2278 Месяц назад

39k in 491k, 25k in HYSA, 8k in Roth IRA!

@bushbomb21b9 Месяц назад

Lol 😂

@josiprajic_ Месяц назад

~236k

@jimlittle5769 Месяц назад

-After wife's medical and taxes, we have a guaranteed 5-6 k a month take home in retirement (before savings, 401k and social security). 4k of that is coming in now at 54 (while we both still work good-great paying jobs), but the rest of it right when I retire at 59. -We'll be at 150k in savings and 140k in 401k when I turn 59. -My social security is currently showing I'd get 2k a month at 65 and roughly 2.3k by 67. -My medical is 100% free for life. -Based on all that, where should a person in his late 50s be in regards to savings, or rather, how much do you think I'll need?

@Christine-wp2bw День назад

I've self-managed my portfolio for 30 years, including 3 Berkshire Hathaway Class A shares (BRK:A) bought in the mid-90s for $17,000 each. I'm now liquidating some positions for new Gen stocks. Should I reinvest in gold? is your strategy enough to amass wealth?

@WestonScally7614 День назад

Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.

@FeelMyTruth День назад

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 275 cash earning 5.25 interest, 685k in 401k, 28k cash account, 50k in car assets ( paid off cars) Gold and silver bars. age is 43. My advisor helped me realign my portfolio to my risk tolerance and it boomed shortly.

@SaintYvess День назад

How do I reach out to a financial advisor, my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.

@FeelMyTruth День назад

*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

@Redwood4040 День назад

Thank you for the lead. I searched her site up and filled the form. I hope she gets back to me soon.

@SeanTalkoff 26 дней назад

With Roth IRA, the money you are contributing has already been taxed. At any time for any reason, you can withdraw your contributions tax-free and penalty-free. Additionally, any earnings on investments can also be withdrawn tax-free and penalty-free, Not sure how much to contribute, I'm still at a crossroads deciding if to liquidate my $338k stock portfolio.

@WillieNickell 26 дней назад

For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary abilities and knowledge to complete such occupations do so successfully.

@tmer831 26 дней назад

Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.

@DavidCovington-st2id 26 дней назад

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

@tmer831 26 дней назад

Well, I chose Vivian Carol Gioia as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification.

@DavidCovington-st2id 26 дней назад

Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.

@willchen6509 Месяц назад

Man RU-vid has really got to work on getting rid of these financial advisor scam bot comment threads. Hope people aren't actually falling for this.

@timelston4260 12 дней назад

I hear you. I almost sound like a bot myself sometimes. They are getting freaky good.

@radonbox6569 5 дней назад

@@timelston4260 In my opinion they aren't that good. They use speech patterns that sound stupid and they don't use words right. They make series of statements in a strange way. Also, someone definitely wrote it, the botting just applies to the posting of the comments, not the writing.

@kevindepew8193 5 дней назад

It isn't just RU-vid!. All social media has an issue with these fake comment conversations that recommend some low-life financial advisor.

@BurntJedi 2 дня назад

I am blessed! I am so thankful to be withdrawing $20,000 per month from my investments!

@KoreyHart Месяц назад

I'm 19 and have saved ~$18,000 so far. I just started investing into a Roth IRA and brokerage account this year and the past few days have been binge watching your videos as well as others to learn as much I can about all this. I've pulled a couple all nighters doing so lol. Thanks for the work you put in man.

@rxdude88 Месяц назад

good job. your future self is going to thank you for starting so young. keep up the hard work

@somehandle215 Месяц назад

Your future you thanks you 👍🏽

@Alfirio Месяц назад

I too have -$18,000 in my bank account. I’m glad I’m not alone

@Patriot-nz5lz Месяц назад

Nice work 👍🏻

@hypersonichobo4263 Месяц назад

Fyi, I had about the same amount at your age. Now I'm early 30's, even after paying for a wedding and honeymoon (not cheap) I have around 100k. AFTER paying for a super expensive event and vacation. Totally worth it and the reward you'll reap similarly so.

@danieljacobs6921 6 дней назад

45 yr old. My wife and I are at 1.4 million spread across retirement and a brokerage account. 1.75 net work with property. We aggressively paid off our debts early in our marriage and we saved about 20% of our income. Once you get over 100k it starts to compound at a noticeable rate until you starts to say Wow!

@EliWesley5 16 часов назад

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Louise O'Brien.

@RyanMaverick4 16 часов назад

You trade with Louise O'Brien too? Wow that woman has been a blessing to me and my family.

@AveryBrice-b 16 часов назад

That woman has changed my life for good. I attended her investment class couple of weeks last year and she’s the best when it comes for Guidance.

@FarayelAlfie9 16 часов назад

I've heard a lot about her. Please how do I contact Louise O'Brien?

@RaelynnGrayson5 16 часов назад

I'm happy to see Mrs Louise O'Brien mentioned here, my husband recommended her to me when I was in Germany during Covid, she's amazing.

@DerekErskine7 16 часов назад

I was skeptical at first till I decided to try. It's huge returns is awesome. I can't say much

@dianaP14 Месяц назад

I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?

@davidhughes6048 Месяц назад

SCAM

@someoneelse6934 8 дней назад

Karen Lynne Chess is a fraud

@spiffo5349 7 дней назад

If your portfolio has underperformed since the pandemic, it is not the economy's fault. It's your investment choices. $1 invested in the S&P500 in late 2019 would be worth more then $1.70 today.

@jakecotroneo8649 Месяц назад

On great track Age 31 300k in investments 40k cash 180k in equity About 1.7x saved up annual salary. Projecting to be a millionaire by 37 and liquid millionaire non-real estate by 39.

@mightymouse9001 Месяц назад

Amazing! I’m 29, wife 24: We’re 400k investments $12k cash (focusing on increasing this and paying off all debt, but mortgage) $90k equity in our home NW roughly 520k and we should be new worth millionaires combined in roughly 4-5 years

@mtn4140 Месяц назад

Damn Im almost 30 with a $100+ investing in S&P500 lol. Its never too late tho

@RK831 13 дней назад

That is tough. It took me 24 years to make my first million, and I was 51 when it happened, starting when I was 27.

@Jakkaribik1 8 дней назад

@@mtn4140 The Good thing once you start it goes on its own.

@s10case 7 дней назад

@@mtn4140almost 30 is plenty young. If you zoom out you can realize you have plenty of time. Pretend that you don't though and get aggressive.

@bicd0c Месяц назад

I'm 47 and did not start saving and investing until 35. I managed to put aside 13% a month into my 403b and 10% into my brokerage acct. Luckily my work also has a pension that I pay 10% into as well. My main discipline was living beneath my means. I drive a used 2011 car I can work on. Cook at home frequently and try not to keep up with the Joneses. My net worth at the moment is 320k. You can do it, it just takes sacrafice and hard work.

@kito1san Месяц назад

Interesting. What is your salary again?

@RichardColwell1 Месяц назад

Thank you for sharing

@chaselesser3191 Месяц назад

I’m similar to this. I started late around 36, I’m 37, and just barely have $25k. But I’m putting in $670/week to try and hit $100k when I turn 40, I could do more. But paying $800/month for half of childcare and the wife likes to eat out often.

@nwmxrider Месяц назад

@@chaselesser3191show your wife this video and make a plan of only eating out x amount of times a month maybe ?

@Daniel-ss7ri Месяц назад

I deeply appreciate your commitment to enlightening your audience. We all aspire to attain financial security and enhance our quality of life. This goal can be realized through prudent investments, mindful spending habits, and meticulous financial planning. I am thankful for acquiring the understanding of the significance of diligently striving for financial independence from an early stage in life.

@Janise-pg8yr Месяц назад

Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.

@user-ql1hu3fr4f Месяц назад

I wholeheartedly concur, which is why I opt to entrust the day-to-day decision-making to an investing coach. With their specialized knowledge and extensive research, it is highly unlikely for them to underperform. Their expertise is centered around harnessing the asymmetrical potential of risks while also employing measures to safeguard against unfavorable outcomes. I have been collaborating with an investment coach for more than two years

@TaniaLato-ky4wo Месяц назад

Could you kindly elaborate on the advisor's background and qualifications?

@user-ql1hu3fr4f Месяц назад

Just research the name Angela Lynn Shilling. You’d find necessary details to work with a correspondence to set up an appointment.

@TaniaLato-ky4wo Месяц назад

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

@JvilleNC Месяц назад

These videos depress me more than encourage me when i see as a person in their mid 40's. Im not even close to the numbers he says i should be at right now.

@stocksxbondage Месяц назад

Is your challenge hard or impossible? You could be disabled and unable to work. I think your only two options are give up before the race is over or try hard. Even if you don’t hit your goal it’s still beneficial. Like exercising. You may not be an Olympic athlete but losing few pounds and eating less sugar will help.

@JvilleNC Месяц назад

@stocksxbondage I'm trying to learn about investing and build wealth. Just the cost of living is getting ridiculous and I'm a single father with 2 little boys

@johnj.doublej8721 Месяц назад

Same, try your very best. 👍🏻

@charlescazares4443 Месяц назад

You can and you will do it! Stay strong.

@humphrey Месяц назад

Damn, I do realize it's not the most pleasant if you are feeling behind. I was just trying to illustrate the numbers. I think if you can do what you can and keep at it, the wealth grows brick by brick. Keep in mind you are also trying to raise 2 boys as a single parent so your numbers may be naturally lower because of the situation. Dont feel a sense of shame because you have a lot to be proud of

@JSLReview Месяц назад

Great video as always! Do these numbers include equity one may have on a house they own, or is it strictly money saved in cash/financial investments? Thanks!

@dannyphan1352 Месяц назад

I was financially reckless in my 20s-30s, no savings, high credit card debt, cashing-out 401K (twice). Now I'm debt-free (I don't have a mortgage), 820s credit score, good returns on investment, increasing salary every year. I'm a little behind based on your net worth calculations, but I'm confident I'll catch up (with your advises on do's & don'ts) by the time of retirement.

@thetradersam6157 Месяц назад

58yrs old - $2.6MM between 6 buckets - no mortgage, owns two homes..

@devlynnmortesse6609 Месяц назад

I'm far behind, I left the work force in my mid twenties to care for family and am only returning now in my 40s while also physically impaired. Still, I don't feel everything is lost.. any progress made at this point is a step better than where I started. Suppose I should add that my husband and I are still negative worth due to student loans. We would be even without those.

@azgardenlover370 Месяц назад

You can only do what is possible, starting where you are. If you focus on getting rid of those student loan so you are at ground 0, then you can start the push to planning for your future. If you keep your standard of living as low as possible to still be comfortable, that should help a lot. Don't let it creep up as your income rises. Good luck.

@dromans615 Месяц назад

Maybe you should pray OBiden gives you a break Or maybe you shouldn’t have followed the crowd and went to college Probably would be way better off Maybe $150,000 year trade job No debt And a pension with 401(k) match lol Good for you listening to the people in high school

@hpprinter6276 Месяц назад

I'm 42 and currently have $315K in 401K & $51K in HSA. Wife has $77K IRA. $170K in Stocks Account. I'm hoping to reach $1M by the age 50. All index funds full risk on. We Max out contributions every year. Credit score over 800.

@nattiefreeze2079 Месяц назад

Looks like I'm the only broke 40+ year old..oops😢

@myself2861 8 дней назад

@@nattiefreeze2079 you're not. I'm no where near that number. 😂

@mattd1201 Месяц назад

52 years old, $1.8 million 401k, a couple hundred thousand spread across various other things. $500k-ish mortgage but maybe $1.2 million in equity. An auto loan. My wife has her own 401k, investments, and pension. A couple kids to put through college. Considering retiring outside the USA somewhere where we'll essentially never need to worry about money.

@s10case 7 дней назад

Nice work. I'm on a similar trajectory. I'm 46, 1.5m in retirement accounts and cash, 700 in equity. I hope to quit working a regular job around your age and run some kind of creative business for myself on my own schedule after that. Let's hope the market holds up!

@kevindepew8193 5 дней назад

$1.7 million dollar home? That seems extreme unless you are very wealthy. I can't imagine paying a mortgage on a $1.7 million home.

@s10case 5 дней назад

@@kevindepew8193it probably didn't cost that much when he purchased it. Extreme price increases in recent years.

@matthewreinke2047 Месяц назад

Hey Humphrey, I am 50 and have a 21 and 18 year old. I am well above your metrics for my age for retirement, but I think your analysis is ideal for my kids. This is a great tutorial for them. Keep up the great work!

@unrealfeedzz Месяц назад

I know as you're from US, you do everything based off that. However I wanted to thank you for always adding some data that could work for other countries in other currency/wage by having that target of X times salary.

@abdulrahmanalhammadi7169 Месяц назад

I've achieved this in one year thx for power Average Cost +patience - Stocks : $33,750.00 - Gold and Silver: $14,580.00 - Real Estate:$1,620.00 - Startups in Republic: $216.00 - Fine Art Shares:$1,860.30 - Lend to Shops Investment $2,700.00 - Trust Fund: $3,132.00 - Mutual Fund : 3599 USD

@ScottBingman 29 дней назад

@SusanOrlean315 29 дней назад

I'm surprised that this name is being mentioned here, I stumbled upon one of her clients testimonies on CNBC news last week...

@BartMendoza641 29 дней назад

She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.

@Markchampion631 29 дней назад

You trade with Elizabeth Wesley too? Wow that woman has been a blessing to me and my family.

@KathleenAlcott957 29 дней назад

I'm new at this, please how can I reach her?

@NathanGraham461 29 дней назад

I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much

@arterisdewberry9467 Месяц назад

So far, I have saved over $9000. I'm 34 right now, and don't have a career yet. But I'm working two jobs and have a side job at the moment right now. So I don't think I'm doing too bad in my life. Like I live with two roommates, have a good credit score at 752, have my own car, and haven't owed anything so far. I'm doing pretty good. By the way, like that Vegeta reference?

@dromans615 Месяц назад

How in the hell are you doing? Good you’re 34 years old no career and you live in your mother‘s basement. With no retirement savings

@FoxTrotting1 Месяц назад

Now let’s breakdown what composes net worth. Most people probably have the majority of their net worth tied up in home equity and therefore little savings by proportion.

@ddc93760 Месяц назад

Woot woot thanks to so many of your videos and others! I’m way past my goal! And just entered my 30s 🙏🏼🙏🏼🙏🏼🙏🏼. Thanks for you videos Humphrey! It’s all about progression!!!!

@codewandre Месяц назад

Excellent advice. People in my circle have learned a great deal from you and you have a way of opening people's eye to new perspectives with personal finances. Keep it up

@charletfoster8917 Месяц назад

Appreciated the breakdown of Average n median net worth range😊

@haveaday1812 Месяц назад

Well, given this info, to the average American your best bet seems to be not having kids, renting and driving a beater your entire life, not carrying any debt and then finding a very tall bridge when you turn 65.

@cvzphotography Месяц назад

Normal is broke.

@serion9325 Месяц назад

I really liked the inclusion of milestones other than how much money to have by X. I'm 28 with a net worth of $22k and an income of $50k, so I'm technically way behind, and hearing that I need to more than double my investments to be "on track for retirement" is discouraging. But I'm also completely debt free, and my income has gone up 26% in the last year and 60% since I started working full time at 25. Which is the other messy part of being in my 20s-- I don't have a full decade of earning and have to start from the bottom.

@nina-111 Месяц назад

Thanks for educating us Humphrey! This information is good to know.

@Robert-yj1kk Месяц назад

Absolutely love your content, wisdom and the energy you put into your videos. Your knowledge and presentation is contagious. Subscribed.

@lynninfinite Месяц назад

TY FOR SHOWING THE MEDIANS

@humphrey Месяц назад

you r welcome lol

@Nova2Yung Месяц назад

Fr, some of these out of touch youtubers be using averages like as as if any 20 year old is anywhere near 100k 😂

@emilyau8023 Месяц назад

This made me giggle 😂

@Lindsay4182 Месяц назад

I had 10,000 saved last year and was so proud (33 years old) and I lost my job and the savings got spent in 6 months. My net worth is -6000 in credit card debt.

@Kevin-fn1rn Месяц назад

Niice

@goatmodegaming Месяц назад

Bro, at least that $10,000 saved you when you lost your job, it’s great you had that, don’t worry, you can definitely build it back up

@chaselesser3191 Месяц назад

That could have been -$16,000. And you really should have picked up side give Uber/food delivery. It’s not much. But do it while you aren’t job hunting. And puts some money in your pocket. Probably won’t have $6k in debt.

@FaithTheFallen Месяц назад

I'm sorry for your troubles, that's really hard. I'm glad you had that cushion and it did what it was supposed to do, but I hope things bounce back for you soon

@TuBui2 Месяц назад

31yo, $375k (all investments, $17k of which is the emergency fund invested in money market), $100-500 cash in the bank at any given time (keeps me thinking frugally..."i only have just enough to pay bills this month"). $0 assets, $0 liabilities

@WRBWRXWGN Месяц назад

You're killing it. And I do the same 'forced scarcity' games. I suck everything out of my paycheck with auto deposit to various investments accounts and what hits my checking is just enough to cover bills and a bit of fun money. It certainly feels like living paycheck to paycheck. And if somebody just saw my checking account, they would assume I hardly make anything.

@Trungfupanda Месяц назад

You're a winner dude great job

@youngflyhalf Месяц назад

Wow you sound gay

@Jrichardstein 8 дней назад

Yeah me too! I do the same thing, feels like I’m broke all the time, meanwhile savings, travel sink fund, extra mortgage payments and investments are heavy. Sucks having to think twice about going out to eat as seldom as we do.

@changveronicas Месяц назад

thanks humphrey!

@DaniOchannel Месяц назад

Thanks for this video, Humphrey. It's good to know the numbers❤

@nicksmith8141 Месяц назад

I'm 42 with about 5X mine and my wife's annual salary in liquid retirement funds. Our total net worth is just above the average and way past the median for the 40s age group so I hope we're on track to retire in our mid 50s depending on the market. Our only debt is our mortgage with 12 years remaining. Both of our cars and student loans are paid off and our mortgage is dirt cheap since I bought the house at 27.

@NEO3578 Месяц назад

Thanks for posting this! It’s very helpful. Based on the data you’ve shared, I feel I can do better saving for retirement.

@disastrousemouse 27 дней назад

I am so screwed, but I’m starting now and going to do the best I can.

@LAwrence7272 Месяц назад

Hi Humphrey! Thank you for such a great video. I want to know about the calculations for a money couple if they share expenses. Thank you for your time 😬

@shaposky Месяц назад

Humphrey, great video as always! I think it would help if he started the video by describing what counts as net worth. It would help some of us who are new to your channel.

@mandypdx Месяц назад

46. Salary is $150/yr. Net worth is $800k. Retirement is $500k. I recently decreased my retirement contributions to 15% to focus on paying off the mortgage and building my brokerage account.

@Driving4bangers Месяц назад

Why decrease 401k to increase taxable brokerage?

@mandypdx Месяц назад

@@Driving4bangers retire early, before 59 1/2

@runeatexplorer7796 Месяц назад

You can use the rule of 55 (retire at 55yo and access yiur 401) if you think you’ll retire with your current company. Imo, that’s less stress than doing investments in a taxable brokerage.

@KlausECD 6 дней назад

Could also do a partial Roth IRA contribution - what you put in, you can withdraw (after 5years of first Roth) 2024 can do partial Roth contribution if single and make between $146,000 and 161,000 (higher if married filing jointly)

@KlausECD 6 дней назад

PS sounds like you are doing great

@vocalprohealthub Месяц назад

Thanks for your useful videos. When you calculate net worth do you include your home? I've heard different people either include or exclude this as a component of net worth.

@missym7086 Месяц назад

Hello! Do the networth numbers in the video also account for home equity or are they solely based on retirement accounts and/or liquid assets? Thank you for continuing to educate us financially.

@SarahMelissaBrown744 Месяц назад

Great refreshing video!

@humphrey Месяц назад

Glad you enjoyed it!

@Sonalimaddushika8957 Месяц назад

Learning Supply & Demand & Volume helped me complete the 5ers challenge.

@SashaKoval-ql9fq 26 дней назад

@humphrey, your teaching style is top notch and I truly appreciate your willingness to share your knowledge. I watch RU-vid more than I'd like to admit in my free time and your channel is by far the most engaging that I've seen on the financial front. It appears you are crushing it on RU-vid, but in the future please consider speaking somewhere in person. At this point, I'd pay a pretty penny to hear you speak in person!! :)

@maggyblue9421 Месяц назад

24F. 25k in my IRAs, 3k in my 401k that I started this year, 5k in my brokerage with Acorns, and 5k in my transactional accounts. My spouse and I share a joint emergency savings account at 11k and a house down payment fund of 2k. I’m trying to pay off my car this year and that should be my only consumer debt!

@EcomCarl Месяц назад

Great overview of savings goals by decade! It's also crucial to adjust these targets based on personal life events and economic changes to stay on track with your financial health. 👍

@user-gs1ml3hf1x Месяц назад

I've just realised i'm a millionaire

@FritzOettinger Месяц назад

🎉 congratulations, now you have to make a plan to keep it 😂

@user-gs1ml3hf1x Месяц назад

@@FritzOettinger thank you very much, retaining it is all in gods hands 🙏

@blackdong4footwangnosucky Месяц назад

@@user-gs1ml3hf1xgod love’s money

@coolcat6303 Месяц назад

I just realized i’m a Thousandnaire! 👍

@user-gs1ml3hf1x Месяц назад

@@coolcat6303 Congratulations, Keep going! 👍

@eldweena1006 Месяц назад

I started saving late but this video made me feel better about where I am in the process anyway. lol Thanks!

@jrconno5665 Месяц назад

Solid PSA Charizard reference. I knew I liked you!

@emilyau8023 Месяц назад

Thanks these vids are so helpful! I'm 24yrs old with 62k net worth. I'm saving 52% of my income and hope to retire earlier than 66yrs old.

@zx10rguyable Месяц назад

53 here. Net worth is about $1.8 million. $1.3 million of that is in retirement and non qualified brokerage accounts. The retirement mix is between traditional IRA, 401k, and Roth. The other $500k is in equity between my two homes. I know there's been lots of discussion around having no mortgage in retirement. I can't ignore the fact I have a 2.874% 30 years fixed on my primary home and 3.25% 30 years fixed on my vacation/second home. That's dirt cheap money. I'm going with the plan of pouring the money I would have directed towards mortgage pay off into my investments. Taking advantage of both the interest tax write offs and the value of time/compounding. I'm also taking advantage of the $6500 catch up clause so I'm putting away currently $30,500 a year into my 401k and starting early with the $6500 being directed into the Roth component of my 401k. No debt other than my mortgages.

@WorkdaySounds Месяц назад

Reached $0 NW at age 30 after paying of ~$80k in student loans. At $400k+ after 4.5 years. Aiming to be work optional by mid 40s.

@BowlerActuary Месяц назад

26 years old, net worth of ~175k. Definitely fortunate with turning 6 years of college into nearly 6 figures just 2 years into the workforce, and I’m extremely frugal. Net worth would be over 200k if not for wanting the nicer cars earlier in life but current car was bought in cash and only debt is 4500 in student loans at low interest (paying minimums because the rate is much lower than even my high yield savings). I feel fortunate to be where I am but also feel like I have miles upon miles to go so not letting up any time soon.

@BuzzLiteBeer Месяц назад

I think for a lot of people, not having kids or a home is the only way to make retirement possible. I'm in the camp where I could have either-or but not both.

@Trungfupanda Месяц назад

Acknowledging that I got extremely lucky with regards to health and timing of the few stock market bull runs, but really love the reassurance that I'm worth more than the average 60s while being in my 30s. 😁 Having zero debt, and putting as much money as I comfortably can while buying the things that make me happy to keep me motivated to work is the secret yall.

@Dividend_Bridge Месяц назад

Great video! Looks like I'm a little ahead of schedule for mid 30s according to this!

@multimeter2859 Месяц назад

I'm currently stacking up cash in my whole life insurance policy. Gonna use policy loans to buy real estate.

@commonsense5555 9 дней назад

Me and my wife plan on retiring by 40. We're using a mix of small cap value, large cap growth, and large cap value through SCHD, SCHG, and AVUV. When we get closer to retirement , we transition to an income approach with ETF's like SCHD and VYM with some individual REIT's as well as buying the rest of my service credit in my state pension which will provide cheap health insurance and a paycheck. We enjoy our jobs but I don't understand why some people plan to spend their entire lives working. At 65 you won't be able to enjoy retirement the way a 40 year old will.

@cangnguyen3065 Месяц назад

I figured out that in this current time you’ll need a goal of around $2.5 million to comfortably live in retirement.

@xeluc99 Месяц назад

This amount you are referring to is all assets minus liabilities or strictly cash investments in 401ks and brokerage accounts etc..?

@tylertoten6818 Месяц назад

Great video!!!!

@humphrey Месяц назад

Glad you enjoyed it

@derekrequiem4359 Месяц назад

I'm very good at saving money but not so much at making money 😅 I need to work on getting motivated to apply for better paying jobs!

@jwiilll 9 дней назад

265k across Index funds, 401k's, Roth IRA's, and stocks. 35k emergency fund and 7k checking. Also, about 180k home equity according to current home market valuation. I'm 31 and my wife is 29. We are hoping to be millionaires by age 40!

@wawo9193 Месяц назад

Wait! Where am i supposed to be in my 90s? 😢

@humphrey Месяц назад

as long as youre still living I think thats pretty good

@lidam Месяц назад

Looking for mentors, most likely you will find them where they supposed to be 😂

@Nova2Yung Месяц назад

You’re 90? Wow

@kylezammit1868 Месяц назад

Hey Humphrey. Would love these to maybe be broken into 5 year segments in the future. Especially for 20s and 30s. 28 is way different than 22.

@Zombiebeast1995 Месяц назад

We are 29, we have a net worth of about $165k, with a hidden gem of land that we could probably get an additional $200k profit for. I don’t count this yet, I only count what we paid for it to be very conservative. Our cash investments (401k etc) are about $55k

@christiancalhoun4576 Месяц назад

As a 24 year old, do you think the Robinhood Roth IRA is ok to use? Or should I just open a fidelity IRA? Or does it matter? I haven’t opened one yet and want to open one soon.

@TrainerNick256 Месяц назад

Just turned 35. Net worth around 150k. No debt except mortgage. These numbers would be more attainable if we have full payout social security at retirement but it'll probably by 75%. Frustrating after paying so much of my gross income and getting not even what I lost back. Thanks US government

@kebas239 Месяц назад

38 y/o, 170k in retirement accounts, 325k in brokerage and a 40k emergency fund. Own house, no debt, about 1M net worth. Retirement value is a bit low as I never focused on it until now. I'm now maxing 401k/IRA/HSA and putting about 1.5k into the brokerage account each month. I just wish I started investing earlier as most of what I saved is literally from dumping all my cash into my checking account over the past 20 years.

@collinseba3438 Месяц назад

About to turn 21 and pushing a 100k!

@ryant6972 Месяц назад

Awesome!

@btheb316 Месяц назад

How were you able to accomplish that?

@collinseba3438 Месяц назад

@@ryant6972 thank you!

@edorofish Месяц назад

About to turn 60 and right on target. Glad I have a pension and mortgage free!

@humphrey Месяц назад

lets go!

@ivalturner2430 Месяц назад

@Humphrey Question regarding the video Humphrey just posted. Does your pension account count towards saved money towards retirement?

@sarahbower587 Месяц назад

I also have a pension and never quite know how to acutely account for that in our retirement planning.

@glasshalffull2930 Месяц назад

I retired with a pension of 44% of my salary. Most of the people here will NOT have a pension and so this should put you in a great financial situation as you approach retirement! I would still recommend maxing out the 401K because it’s better to have too much than too little. Your pension really comes into play when you are about five years out from retirement. Then it’s best to go over all your expenses and determine how much you will need to live on after retirement. This will show you how much you will need to withdraw each year from your 401K after you retire. 2%-4% is usually a sustainable withdrawal rate.

@mommommom4596 8 дней назад

We are late 50’s, 2.5M net worth, our home will be paid off by 62, and plan to retire @ 65. Anticipate net worth will be 3.5M by retirement age. Our current investment rate is 35% of gross income. I know these numbers sound good to most people, but the closer we get to retirement, the more concerned we are about making wise financial choices. We were late bloomers with regard to investing. I wish we would have started younger.

@gazimustafakemalataturk1923 3 дня назад

Live in the EU. Age: 33 Saved in bank account: €22.000,- Invested in physical gold (2 KG): €140.000,- Initial investment in this: €98.000,- Invested in Crypto: €7.200,- Initial investment in this: €10.000,- Student loan: €20.000,- Interest rate: 1,73% Paying this off each month (€180,-)

@ShawnBlyth Месяц назад

@humphrey I've seen these rules of thumb for "x times your salary" around for a long time, but how do they account for rising salary numbers over your lifetime? I have seen far less about how this should be thought about. In my late 30's my salary is 4-5x what it was in my early 20s, so curious if you are supposed to base this on what you think you're expected annual needs would be in retirement, or if you just should pick a rough midpoint of salary over your lifetime. Luckily I have kept the lifestyle inflation pretty flat after I hit a certain salary, and dumped the rest into savings, so I'm ahead of all the benchmarks, but still very curious.

@humphrey Месяц назад

Great point, I need to think about this further. I think if you can guess your midpoitn salary over lifetime, probably good place to start

@DefenestrateYourself Месяц назад

It’s a general guide to help you get started. I wouldn’t over-index on it. For retirement, shoot for 26x your yearly expenses

@callyballybee 7 дней назад

I'm 31, quit my career to go to school at 30. Will graduate when I'm 34 and aiming to have £30k by graduation. A bit behind, but my previous career was poorly paid. I've got a plan though and should be able to comfortably catch up, even without accounting for greater earning potential once I'm finished university. I used to get nervous thinking about it but with a long term plan it doesn't freak me out any more. Just have to keep eyes on the prize and always be sure to balance enjoying life in the moment while also planning for the future. :)

@Jrichardstein 8 дней назад

At age 36 with net worth of 280, 200,000 in investments. I feel like I’m behind all the time. No debt other than mortgage, investing 14% with 3% match, little expendable income with no debt other than 6.4% mortgage. I look forward to the next 5 years of wage increases. I think a financial planning meeting would help with the anxiety

@YanaSu 4 дня назад

35 years old .savings is 120K. Do I need to set aside more than my crrrent savings everymonth or should I keep the same amount.

@ninoheraldgabuya1362 Месяц назад

I'm 43 years old my current net worth $411,000. I am hoping to keep up on our retirement journey.

@ftr911drvr Месяц назад

The tough part for many in the late 30s to early 40s is many of us were impacted greatly by the 2008 recession. Me personally ive spent years digging myself out of a hole , and honesty have just gotten on stable ground the past 5 years. So im way behind the average almost 800k average net worth by 40, with the uncertainty of the current economy and the high cost to own real estate while im above the median im very discouraged after watching this video that ill be able to gain any meaningful ground in my networth for my age group. It also states that you shouldnt have any debt except a mortgage which an affordable mortgage is difficult right now to find just getting to a place of good purchasing power at 40 smh im grateful for where i am but what a dismal outlook smh

@havenpersonalcare7968 Месяц назад

2021 I had about $60K; COVID came, and was forced to withdraw due to no work; with remaining balance $2.5K. Minimal retirement. 2022 retired from the military after 25 years; now 45. Still no retirement savings; but, my saving grace are pension of $6.5K and a properties for rent with $2.5K monthly passive income. Thank God! All the best everyone.

@zkramez Месяц назад

29, 88k. Projected to be just over 100k on my 30th birthday. I started my journey very late. I didn’t start saving until I was 26. Currently investing $2,800 per month. Projected to increase to $4k per month shortly. That will eventually go back down when my wife and I buy a house but for now that is not possible so I am stashing.

@awa2612 25 дней назад

I'm 46, married, with one kid. I did not really start making money until 14 years ago due to the field I'm in. Keeping track of my net worth is more like a daily exercise, and we are currently at $2.5M, with the current home being $400k of that amount. The plan is to FIRE around 55, if I find something worthwhile doing other than my field of expertise.

@kevindepew8193 5 дней назад

But if you retire at 55, you wouldn't be working at all. Nothing against trading your career for some work you actual enjoy much more, but that isn't actually retiring.

@kingdavid1614 Месяц назад

do you factor in ss and possibly a pension into the figures

@calebhenderson6766 День назад

19 years old. About $15,000🎉

@nhc.1693 Месяц назад

Hey Humphrey! Great video, just wanted to call out that its a little hard to understand visually at times if you mean that the numbers you’re showing are the median and average at that exact age of (when you show “Age:30” for example) or if those numbers are the average for the entire decade of your 30s, or if those numbers represent the average for people 39 years and 364 days. I know your voiceover provides a bit more clarity but just wanted to call this out as an interested viewer!

@humphrey Месяц назад

Noted! thank you for that, ill try to be more clear int he future!

@SmugRabbit Месяц назад

Started saving this past January from 0 dollars and about to hit 100K by end of June.

@F0XRunner День назад

I keep getting raises so I am always behind my "you should have X" multiplier 😅

@Redbull_5757 12 дней назад

Just turned 40 and I got roughly $1,000 in a HYSA, $1,000 in and IRA that I need to move and a little over $100 cash on me.... I suck... but I'm watching videos like this to change that. Wish me luck!

@Jakkaribik1 8 дней назад

at 40 there is still 10-20 Years to Gather and Create more for your Older Age

@Courtney-Alice-Gargani Месяц назад

You should save more than you have planned. Be responsible.

@humphrey Месяц назад

agreed

@Patriot-nz5lz Месяц назад

Is this video including home equity in ones net worth?

@MallorieOfTheDead 29 дней назад

34 here. I wish I found this long ago. I started my 401k and savings 2 years ago.. no debt, but I also don’t own a home. My income increased by 15k a year and that’s when I started saving and investing in my future. I feel like I still have such a long way to go.