Net Worth By Age in 2024: How Do You Stack Up? 

how much of the $500k is your home?

$145K net equity

there's a whole lot of missing fluff inbetween -$90k in 2018 and $500k networth six years later today in 2024. You surely didn't do that on $35k household income, for example.

@@hanwagu9967 I mean, I don't expect a rando on the internet to post all of their financial plans. Pretty sure they just posted this to thank the money guys for helping get to where they are. To that extent, congrats on your journey Drew! An almost $600k swing in 5 years is amazing regardless of how it was achieved!

@@hanwagu9967 exactly people who report stuff like this but leave out probably the most important component, household income, really aren’t helpful.

Real estate baby.

Congratulations, that's amazing!!

There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.

Although my knowledge of the business is limited, it seems that this is the ideal time to enter the market based on my understanding of supply and demand in the economy. The consistent price variations, which shouldn't be an issue, are the only thing stopping me. But I really need a counselor; could you please assist me?

I had a feeling that this is a scam post.

​@DavidEVogel all these comments with hundreds of likes seem to be scams

Lots of bots

VTI and VXUS and chill. Gives you world wide exposure and by definition you get the average return. It's 0 stress and takes essentially 0 time. You aren't Warren Buffet. You can't pick stocks better and faster than professionals with Bloomberg terminals. Just take the average return and live your life.

@@TheFireGiverpretty sure ur talking to a bot

VUG

While the market is promising, expert guidance is essential for effective portfolio management.

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

@@KimberHart I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.

@@MellisaAdam Her name is ‘Anna Rounds Fay’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.

People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.

Just another scam.

@@DavidEVogelhow?

These are bots that are trying to get you to buy into some BS program most likely

I am little late in planning my financial journey, spent on many appreciable assets till now and keeping my saved earnings in banks. This inspired me a lot and gives a great zeal to start a fresh

Can't give financial advice. will recommend you speak with an FA, Martha Cornell Kerns, credit to her constant advice and guidance. Lots of People are sitting on large stockpiles of cash ready to time the market they’ll miss the mark and pile in late either way people that bought early will win

My strategy is to put half my income into the stock market at the start of every month regardless of what is happening. The second part of my strategy is not to sell for at least 15-20 years. Time in the market beats timing the market

sweet bro

​@ikshIshani do you also not buy groceries because of price fluctuations? I'm going to guess no, because you know you need them for tomorrow. I'd recommend finding a financial advisor in your area and not rely too much on wisdom and testimonies from the RU-vid comment section. LinkedIn or coworkers or other peers who have a financial goal similar to yours would be a better resource.

Generally speaking, a good number of people discredit the effectiveness of financial advisors in planning finances, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.

massive gains! mind sharing details of your adviser pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help fuel my money goal

Delusional.

Heather Ann Christensen is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

Thanks for putting this out. I curiously searched for Heather Ann Christenen and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.

That is much better than a negative net worth! Many people have it negative cause of Student loans.

Congratulations! I think that’s the first of three major financial milestones: •$0 net worth (at minimum able to balance assets and liabilities) •$100,000 net worth (in invested assets, so compound interest works with you) •$500,000-$1M net worth (prepared for financial freedom).

@@AlexFlavellhoping to hit that 500k by 50 in my portfolio, at this point just brokerage.

@@nrivera567 yep that was my case, was negative for ~ a year after college because of student loans

Way to go! Keep following the FOO and you will end up in a good position over the long term hopefully

😂 good for you! where can we find the old version?

Fair, but they always do smaller chucked videos of this from this video curtailed for each decade

Wow, well done!

Not seeing that from where I am. 40s you're still in the messy middle with kids ( can't put a price on that joy!), paying down mtg debt, etc. We're now in our 60s, still healthy, and with net worth just shy of mil mark (including home). Couldn't be more content. We're both semi-retired and have months off at a time to travel and relax. Time together is more valuable than ever.

They don't say that most *people* hit 1 million at 49. They say that most *millionaires* hit 1 million at 49. The median net worth of a 47 year old in the US is less than $200k.

You must not like it that much that you want to skip portions lol

Not everyone has 50 mins to watch a video . Putting in chapters is not hard and im sure they can do it too​@endofquoterepeattheline7516

Y'all know they cut these videos up so there will be a separate video for each decade, right? They do it every year. If it's not already up, it'll be up soon.

Jesus you killing it

Killing it 👏👏

Cut that to 75k due to divorce laws. Still doing excellent at 75k at 21!

🧢🧢🧢🧢

@@jackieboy1593 haha fair enough lol

Congrats 🎉 are you a single income household? Or do you have very low expenses? It can be difficult to save a decent amount of money off that income. Congrats either way!

Wow

just out of curiosity how did that happen. I made some assumptions like having 50k at 29 when you got serious, but making 40k a year you would have had to put away like 70% of it per year over the last 5 years to get around 250k, and investing 70% of 40k doesn't seem to leave much to live on.

@@j.asmrgaming1228 it's possible he has some individual stocks that might be outperforming regular gains. He could also live with someone and only spend like 10k a year.

@@kylebanks13 i am single income person. i live at home with family with very low expenses.

Nice. The temptation is to get off the working train sooner than 68. Retiring early will take a hold of you. It has consumed me. 13 months to go.

Are you on track?

@andrewdiamond2697, did you achieve those goals so far? Are you way off? (Good or bad) or are you very close?

In 2008, I bought the home I gave my son. I paid $50k. It's a brick ranch with hardwood floors and a detached garage on 8 acres. It has a large outbuilding and a small barn. The best part is, it has lots of road frontage. It has paved road frontage on 2 sides and a dirt road on the other side. I could divide it up and build several homes. The area is trying to go commercial. One of the neighbors has a grave business. They dig and cover and sell stones. One sells wood work like swings, rocking chairs, etc. Now, a heating and air business is moving in beside the home I gave my daughter. We are minutes from I20 out of Atlanta. The road runs straight to the interstate. I told my son that I see a gas station on that land someday. It's good land that could easily be turned into a business. The gas station could be on the front. Of course any gas station could be used, but I'm thinking a station that pumps your gas, washes your windshield, and will even check your oil like the good ole days. If mfers will pay for Doordash, I'm sure they will pay a premium to have their gas pumped. Then a car wash down the side and a parts store on the other side of it. Plus a tax service and salon/spa on the other side. My son's house would be perfect for the tax service. We have another neighbor who has a farmers market and the guy past her has a tree service. Both my daughters are chefs. So, we might end up with a restaurant and a daycare.

Income? The housing market didn't bottom till 2012. I'm April of 2011, my exhusband decided he didn't want to pay bills anymore and went home to live off mom and dad. I rented out home to a family that had been foreclosed on after 26 years. Dad was a truck driver who rarely came home, mom works at a Dr office, and son works for At&t. They paid enough in rent in 5 years that it paid my initial investment for my primary home. Their income was a lot higher than mine. I had a friend who just got a divorce too. He owned his business fixing planes. He would fly out of the state to pick up planes and needed me to babysit his 3 children. I could only rent the house for enough to cover the payment on it (and the mini farm) plus the taxes and insurance. I survived on rent from the mini farm. 2012 is when housing bottomed. The numbers to buy homes were so low but you had to have a job.....well except me. My first credit card was when a heating and air unit went out in one of my rentals. I called the company offering no money down and 0% financing. I was honest. I told the guy I wasn't working. He said no problem. He said as long as I had a good credit score, I would be approved. Sure enough, they went out and gave my tenant the air she wanted. I was on I think 30 months of payments. It was my first credit card. Thank you capital one. Homes were to be had for pennies on the dollar. The problem was, you needed to have a job, and not have debt. I had a friend with a good job but he was already a home owner. Subprime loans weren't the problem. I don't know one person who had an adjustable rate. The problem was debt.

125k is top 20% earner, I’d say that’s a high earner

@@idkmybffjill9682 I'm now ar 90k. made that 125 for 3 years.

@@idkmybffjill9682depends on the cost of living of his area. Might is well be making 70k if his morgage is 2800+.

125k is a high earner what are you talking about. Your are about 2x the average household income.

That's so awesome, keep up the good work!

Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.

Please can you leave the info of your lnvestment advsor here? I’m in dire need for one

“Sharon Louise Count’’ You can easily look her up, she has years of financiaI market experience.

I looked up her full name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip.

Go through a professional! Don’t invest with anyone saying, “I use Theresa Nelson (made up name), and receive 70k every other week, in returns! And then other (made up accounts, but with different names and genders and ethnicities) will say something like, “I can’t believe you also use Theresa Nelson! I am getting 30k a month, but only started investing 18 months ago” and then another account will say something like, “just here to bump up Theresa Nelson! She’s saved my family!”

way to go!!!

You have such a great outlook! We’re still figuring out exactly what we want, and what is going to be enough for us. Immigrant parents who are going to either work until they are 80+ or rely on us makes me want to push harder for longer before getting to where you are now (which sounds great)

Amazing! House paid off at 38 is crazyyy 🎉

What are your careers if you don’t mind sharing?

Talk is cheap

@@NinjaKiller117 engineer and part time elementary school teacher

Awesome!

We can not all do it. I live in Germany and the incomes people in America have sound crazy. Over 100.000 dollars a year???? Even 200.000??? Forget it. Only CEOs get that much.

I have the same goal. 1Million by 40! I have just over 1M in assets but still have about 170k left on a low interest mortgage. Keep up the solid work.

Congratulations! I hope you reach your goals!

Awesome! My wife and I are 28 (close to 29) and just updated our net worth. We are at $155k. We are sitting on 20 acres that I did not include because it is attached to my house and not appraised. We plan to split off some land eventually and get a big boost. Should be able to pocket around $200k from that with what land is selling for in our neighborhood. Plus with some raises/promotions likely coming soon we think we can hit 1M by age 40. It will be hard work but achievable. Congrats on your accomplishments you can do it!

It will, I know from experience

You and me both

Be sure to firewall that money before you get married!

Already married. We got married at 23. Built it up together. We planned for my wife to stay home by the time we had our first kid. Thankful that she trusted the process and saved heavily.

Great job! Killing it!

Damn how much do you make? Good for you and your wife. I just started to take saving/investment seriously at 26 so im trying not to be envious haha 🤑

Nice, sounds like we’re in very similar positions. My wife is stay at home as well, we have $500k at 29

That's true, take a look at China and most countries in Europe that are not involved in war and have good growth in their economy, giving their citizens a better life and support in their country.

Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.

Do you mind sharing info on the adviser who assisted you? I'm 40 now and would love to grow my stock portfolio and plan my retirement.

I can easily ask you to look up for Linda Sue Baier to help you grow your finance

An professional financial analyst or advisor can certainly add value by offering tailored advice, portfolio diversification, risk management, and timely insights. Linda Sue Baier is an expert that can potentially speed up wealth creation and navigate market complexities, She's the best chioce to make for investor as she gives a Favourable Market Stocks to produce high investment yields and ROI

Please also take the time and convince your peers where you can. You will be able to make such a positive impact on their future life, even if they don’t recognize it.

Right there with you pal. I’m 26 with the same savings rate. Keep it up!

I'm 45 and have been saving since around 22-23. Started with $500/month after tax (increased as my salary grew) and was getting employer match but not maxing out 401k the first couple of years (but have been maxing out since 27 or so.) Felt like nothing was really happening the first 5 years and not much more in years 5-10. But after that it really starts rolling and as you grow past some nice round numbers (i.e. 100k -> 200k -> etc.) you'll start to feel better about the whole process.

Just be careful with these comparisons. They are nice for seeing where you stand relative to everyone else, but what's most important is where you stand relative to your expenses. Someone might have $300K at age 65, but they also have a pension, social security and family members to rely on; plus their expenses are low. So they never even touch that $300K.

Bunker down and get that number higher (savings rate)!

You are probably comparing up or to the financial mutants in these comments. You’re doing great, run your own race!

Still on track for a milli

Yes true back in the days you can easily plan for your retirement . But now i don't how the systems works.

The System is not the same anymore, planning now needs an expert to guide you, otherwise you'll loose all at once.@@olivergeorge8788

Now is more of Tech investment than the old way.

And if you are a young early home buyer, how should we think about our net worth?

I mean obviously your mortgage is deducted. But also consider adjusting for cost of selling. Probably 10%

same same bro i’m 33

Video games?

Recent years have been very good IMO. My projections were probably too pessimistic, but I hit $1M about 5 years earlier than expected.

sweet bro

At 11:18 Brain says "wet sloppy tears" and gets Bo going earlier. Brians new favorite word?

no one cares bro

@@devonwolf 47 YO with 2.1M net worth thanks to these guys and Dave Ramsey

That’s why I like Fidelitys retirement planning tool. Its projections are shown in today’s dollars, which allows you to project/see your standard of living. The tool uses a 2.5% annual rate of inflation.

What if you moved to a country like Cambodia, Vietnam, Malaysia? Then inflation wouldn't matter as much. The USA is not the only place people have to live. But, with millions of border crossers entering the United States everyday... the USA will be third world in the next 30 years. California just announced free health care to all "undocumented workers" starting January 2024. Socialism will take down America

I factor in inflation when doing all my calculations. The inflation-adjusted return rate I use assumes 2-4% with an average of 3%. I don't feel comfortable using the 5-8% estimates that many people throw out there. If things end up being better than I expect then that's great.😊 We created a spreadsheet that models where we should be if we could coast to FI (Target), where we will likely be based on planned contributions (Planned), and where we actually are (Actual) each year from now until age 70. This info is then plotted on a life graph. Based on the model we'll make it to FI by 67. However, experience has taught me that things rarely go as planned.

Regarding the 401k and taxes: for 2023, the long-term capital gains tax rates are 0% up to $89,250 (married, filing jointly). If you need to pull more than that in a given year of retirement, then pull from your Roths/HSA, and pay 0 tax overall.

@@Lucky008aau and looking forward to the 0% tax range increasing by the time I’m done

The difference is that if you plan to sell your primary residence to cash on it, you need to consider the replacement cost of the asset since you need a place to live. When you sell your portfolio, there is no replacement cost. I don't think it's wrong to include it in the net worth but there is a nuance.

The house is really more of a consumption choice than an investing choice. On paper mine has boosted my net worth, but the maintenance costs over the last 5 years have been very steep. Even with great appreciation it's not an obvious net worth win compared to renting and investing more. But more important is that I got to live in the house and enjoy not sharing walls for the last 5 years, especially when everyone was overreacting to the coof. Some of the maintenance was a pain, but the peace and quiet (most of the time) for remote work more than makes up for it.

1) gross income 2) no 3) include your pension contribution and/or your employer's 401k matching contribution if your household income is below 200k/yr