I started my finance journey at age 35 4 years ago, and have consistantly seen progress and gains by age 39. If anyone out there feels they are late or behind, Trust the process and stay dedicated. This video is a really great overview.
It’s really great to have goal setting. However, just want to emphasise the challenges at each decade. 20s are when you earn the least. 30-40s are typically when people have children who are financially dependent. 40-60s are when you have dependent parents. 70s plus are when you need to account for your own medical needs. All the above means it takes great financial discipline to stay on course
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldn’t have to worry about savings as you do now. Thanks to my FA, my portfolio is doing really great and I’m proud of the decisions i made last year.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
Good job starting so young. I did not wake up til I was 40 and realized I had 30k in debt and was late on a mortgage pmt. Now at 53 I have a paid off house and a net worth right at 900k. Just wish I started sooner
It's really challenging to create a strong retirement portfolio, so I always preach about the relevance of having an advisor.This helped me stay afloat and improve my portfolio of $450k to over $660k in just 3 months.They have strategies that are specifically suited to your long-term objectives and financial aspirations.
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Carol Vivian Constable for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Just hit $90k net worth today (not including vehicle) at 25 - $47,000 personal brokerage - $31,000 401k - $12,000 checking account Looking to keep pushing really hard on investments and hit where you are around 28-30 depending on the market!
Making touch with financial advisors like Elizabeth Regina Nelson who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times
Elizabeth Regina Nelson has really set the standard for others to follow, we love her here in the Uk 🇬🇧 as she has been really helpful and changed lots of life's.
I appreciate the median and average. Definitely puts into perspective how much outliers can shift the numbers. Glad to say as I hit my mid 30s I'm close to the "killing it" number! Appreciate all of the knowledge you've shared in 2024. Hope 2025 is successful for you and all of the viewers!
I just tipped over the 500k net worth, and I'll be 36 this year. Watching this video made me feel pretty good about where I'm at, and reassures I'm on the right trajectory.
I’m glad people recognize it’s not just income. I am pretty low income. Roughly 45k/year from all income sources. But I spend nothing. No credit cards, car is a 2008, clothes all from high school. +117k home value -110,000 mortgage, no other debts +29,000 stocks, bonds, indexes +22,000 Roth and 403 +5,000 cash So 63k net worth at 26 :).
@@zygradex1867 Eh like maybe 1k. I throw $20 every time I deposit into my stock accounts. Mostly a store of value and in the improbable case that SHTF and the USD dies
I’m 35 with a $60,000 net worth. My goal by the end of 2025 is $100,000 net worth by paying off my car and another debt. I’m doing a low spend challenge for the year and taking classes to change careers and increase my income!
Im 29 and sitting at $500k. I bought a house when interest rates were low and it appreciated. I also invested as much as I could afford to in my early twenties (which wasn’t much.) and it’s amounted to a 300k investment portfolio. Almost paid off student loans, wife’s car and school paid off, just have my car, the house, and 16k in my student loans left. Came from near homeless and am trying hard to outrun my fears of returning to the lifestyle I had as a kid.
@ Trying to buy a second house and turn my current into a rental. Hoping to put 20% down to avoid pmi. And my investments have been yielding a return higher than the 5% I’m paying in interest. So it just isn’t worth it from stickily a yield perspective right now.
@@jeltoninc.8542 lol I am not, however I am a commercial lender with significant amount of experience, determining the profit models of investment properties. my interest rate on my house is 2% it cost 290k and is now worth 550k I can rent it for 2800 a month and my mortgage is 1500. It would be very unintelligent to sell this house. But you do you brother, I’ll do me.
Am 59 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, “Brenda Davies Clarke” turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thank you for saving me hours of back and forth investigation into the markets. found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
that number thing is super useful when you start saving young, ive always heard the "buy index funds instead of putting it in high interest savings" and now i actually understand why, cheers
I reached $155k today. Thank you for all the knowledge and insights you've shared with me over the past few months. I began this journey in November 2024. Financial education is essential for over 70% of the population, as only a few are truly literate in this area. Thanks so much Angie Chen Owens
I am 68. I retired 9 years ago. I have a net worth of $1.2M with an annual income from pensions, annuities, and social security of $60k. I live comfortably in the Bay Area and do not need to withdraw from my retirement.
By retiring early, what do you do for medical coverage? Do you still have a job of some sort just for the benefits? Do you buy coverage from a benefits company? I plan to retire by around 55, so I’m trying to learn more about what to do for insurances etc when not from a job. Thanks!
To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.
Stock investments can offer great potential, but it's essential to approach them with caution. I recommend consulting a financial advisor who can help you determine the optimal times to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Lisa Grace Myer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Katherine Grace Maier for helping me achieve this
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
In my mid 20s. I know a lot of people in here are way ahead of me, but I just recently crossed into a positive net worth! Student loans started me a bit behind but I'm working on it!
You're more than killing it. Im also 39 with a 450k networth. Would probably be in the 1m if i bought a house early 2010s. So im between high end and killing it
Im 25 and a half and my spouse and I have around 30K in investments and 20K in savings. Being married so young (23) definitely helps with the plan. The idea is to have ~150K in investments by the time we are 30.
27 & single at 200-250k depending if I want to sell my business 🤷♂️ Used to go out alot and party I had no saving until around 21, then i switched it up. Tbh In the last 2 years ive basically lost all my friends, most of the people around me didn't support my mindset, rifts were created. I spend all my time focusing on being the best version of myself this includes working on mindset, gym, work, business and talking to a small amount of people who have made it or similar interests about business, stocks and crypto. I just passed the new year 12am at the gym and then working afterwards. It is what it is, trying to become a millionaire before 30, let's see who wants to come around to support me then.
Everyone’s been preaching investing lately as a source of passive income but with a 70 hour weekly jobs and limited knowledge of financial instruments, how can I actually stay on top of things, I see every TH-cam video saying BUY BUY! But when and how do I sell for profit at the right time?
The current market might give opportunities to maximize profi.t, but in order to execute such effective transactions, you must be a skilled practitioner
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
"Aileen Gertrude Tippy," a well-known authority in this field. I would recommend looking into her credentials more because she has a great deal of expertise and is a great resource for anybody looking for advice on how to navigate the financial market.
Very informative video you have, I have been able to understand the messages you pass but there are some other challenges that may come about when taking some other risks
I don’t think anyone that has dedicated time,money and efforts to scale to new net worths in whatever field of investments hasn’t reach some of the challenges that you would face personally.
My son has been able to help with such issues through a CFA he was able to link me up with. Since hiring my advisor? It’s been better handling such financial turmoil that may happen
Oh yeah! You can definitely say that, it does worry me a bit, but not as much as it would worry the average guy, my investment portfolio has survived a couple of recessions unscathed, been privileged to be guided under the stewardship of an extremely gifted investment manager by the name JOSEPH NICK CAHILL
Sure.. Joseph Nick Cahill has a really unique gift of being able to looking far ahead down the road to spot future investment portholes and possible major mishaps, so he helps me make the safest investments and also helps me hedge all my investments against possible future downturns
8:05 I did the same thing in 2021. I had around $23k left on a $60k car loan from 2019. My car payment was $800 a month and was a large portion of my take home pay. I had well over $23k in a brokerage account so I cashed out the equivalent of my auto loan balance and paid it off in one big payment. My brokerage account obviously took a huge hit but the car was paid off and I haven't had a car payment since, and my brokerage account recovered and exceeded what it was before. Even though my interest rate on my auto loan was only 3.99%, the peace of mind of having it paid off was worth it.
@@Denise_Cocoa no, not really. It was the worst financial decision I ever made but it was also my first new car and it was more or less my dream car. I recognize the opportunity cost, my net worth would be significantly higher right now if I hadn't bought it but I don't regret it. That said, I doubt I would ever buy a new car again. I consider it a lesson I am/was willing to pay for once.
Nice man. It's always hard to keep a loan, but your brokerage account probably would have appreciated 8-10% yearly and your debt was only 4% interest :(. Still I respect the peace of mind!
This video depressed me slightly but I’m on the right path. I’m 39 and have around $15k in net worth right now… which is the first time I’ve had a positive net worth, I was negative by around $200k a year ago. Should be alright with hitting a million by 45 with the moves I’ve been making.
At 47, I’ve come to the conclusion that the key to building wealth is developing good habits like regularly putting money away at intervals. It has worked for me since I was able to save over $15k which I've since flipped 5x consistently building my portfolio.
I didn’t have any prior investing experience. A CFA, Herman W Jonas has taken all the guesswork out ever since I got into his program. My initial capital of $15k invested in stocks, and crypto over the short term yielded me huge profit plus bonuses. It’s all about accumulating wealth through compound interest investments.
Hi Humprhey, I really needed to hear about the weight lifted off from paying off your car bc I’m one of those nerdy math guys who’s constantly looking at math vs peace of mind in whether I should paying off low interest debt (less than 6%) vs investing the extra in skills, risk taking business ideas, or just in the market to make the spread
I'm chosing not to pay down my house, since I have a low interest rate. Investing that money makes much more sense, because not only can you earn a higher return, but that money is also liquid, and not locked up in your home equity.
Yes I have the money to pay off my condo ($33,000 left) but I’m thinking of investing it instead. My interest rate is 4% and 10% is the average rate of return in an SP 500 fund . Or I may put half toward my mortgage and the other half invested.
Same camp. 60k left owed on my house at 4.375%. Putting an extra $150 towards the home. $250/mo in 60:40 retirement. 6%+4% match to 401k. Tax returns are always in I bonds. Live like your poor early. The faster the snowball gets rolling the less you’ll have to contribute later on.
My wife and I are both 36. Just did our annual net worth statement from The Money Guy Show and we are officially net worth millionaires at $1.2M. Doesn’t feel like it though as 50% of our net worth is in retirement accounts and another 25% is in our home. We started with Dave Ramsey’s FPU which got us on the same page, then graduated to The Money Guy and Humphrey as well as others to grow our wealth. Hopefully when our kids get older it’ll feel less like we have to penny pinch. Keep up the hard work everyone!
@@intensifier1346 no you don't.... net worth is household . It is the total accumulation of assets minus the total accumulation of debts. If its good enough for the IRS or a lawsuit.... its good enough for retirement planning. If you try to separate it.... Who would take how much of the house? Are they planning on retiring separately? What if one spouse doesn't work, are they then worth nothing? Now if they divorce... then sure... but divorce takes every retirement plan and throws it out the window along with their love
@@intensifier1346 I never said two people with the same net worth as a married couple is not better off. I said you don’t cut net worth in half if you are married. There is a definition of how net worth is calculated and that is not how it is calculated.
I'm nearly 37 and hoping to be at the low end by the end of 39, then hoping to jump to the middle category by end of my 40's, reach the high end category by end of my 50's and killing it by end of my 60's. I started late with student loan debt (60K) and not taking finances seriously when working seasonal outdoor jobs that were fun but paid poorly. Here's to "waking up" and taking some control over my life, sacrificing and making serious gains in just a few years. 🍻 I'm now achieving goals I only dreamed of doing like going on a trip to New Zealand. Just need to watch out for lifestyle inflation. 😅 Thank for putting out these benchmarks to keep me motivated!
48 years old, former corporate executive - retired early. $3.1 million net worth - $700k home fully paid off, $800k 401k/IRA, $1.6m in taxable brokerage. The $1.6m yields about 9% for $150k/year in dividends/distribution. My portfolio in my 401k/IRA is geared for growth with equal balance between VOO, VTI, QQQM, DIVO. My taxable brokerage is about equally balanced between JEPQ, SPYI, RQI, UTF, UTG, PBDC, PFFA, SCHD, TLTW for income.
@ Friend I am my own financial planner. I have spoken to multiple financial planners who advocated the 4% rule and wanted to charge me .6-.8% each year. Until I get too old to do my own research, I am my family's financial planner.
@logicae4096, great summary with specifics in the taxable brokerage account. I am in the process of adjusting my taxable portfolio of stocks to dividend ETFs. 2024 was a stupid great year in the market. Now I want that explosive gains to build wealth for the next 20 years through dividend ETFs. Your list and my list are almost identical. Thanks for sharing. I have about $2.6mil in stocks and $1.4mil in property/IRAs between me and my Wife. I am "retiring" in March. 🎉 She wants to work for a few more years.
In light of the diminished inflation signals and the Federal Reserve's decision to suspend rate hikes, which investments would be the greatest additions to a $120K portfolio to improve portfolio performance this year?
The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
This is why I entrusted a fiduciary with my investment decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Mid 20s & I’ve more than doubled the “killing it” category for my age 💪🏼 I could do absolutely nothing for 15 years and still be “killing it” by the time I’m 40
This video is a game-changer! So much helpful information packed into one clip. I personally don't like promoting anything in comments, but I simply have to share with you a book called The Gilded Nexus of Prosperity, that book changed my approach to money, the methods in that book are impressive
I'm new to investing, and l've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
Just turned 27 here, have around $45k in my Roth and individual accounts invested, have a vehicle worth around $25k that’s fully paid off. Have 0 debt. So total net-worth around $70k
Keep in mind that those numbers are good for a decade. So being in the early thirties and in the middle is pretty close to killing it imo. Time is everything.
20 Year Old here. To avoid student loan debt and pursue a fulfilling career I started as an EMT when I turned 19. My current net worth is 110k and is diversified across broad market etfs, and high yield savings accounts. Always consider trades instead of immediately looking to a 4 year degree!
@@FireMedicGJ I’m getting my emt rn and about to start firefighting. The only bad part is that I started this at 24 instead of when I wish I did it at 19
I always worry that I never have enough based on where I'm at and that everyone else earns more and has more. But watching your video took some of that anxiety away. I feel much more confident about what I have at my age. I make the mistake of comparing myself with others when it comes to the material things. But then I also realize that many people are in a lot of debt and living way beyond their means.
This actually gives me a lot of perspective. Im more than 20 years ahead of the curve now and way beyond even the largest values. I always thought i was just average or a little above average.
I want a balanced portfolio with growth investments, safe investments, and also focus on dividends to gain up to $20K monthly, my concern is picking the right stocks that can survive a recession. How do i go about this ?
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. Depending on the worth of your portfolio, you should consider financial advisory.
I think you're right my portfolio is perfect for every market season yielding 75% from early last year till date. I and my advisor are working on a 7 figure ballpark goal, though this could take another year. financial advisors are the most sought-after professionals after doctors.😊
I have worked with a few financial advisors before now but i ultimately settled for 'ELEANOR KATE FENN'. She is SEC regulated and licensed in US. You can easily look her up
My CFA is ELEANOR KATE FENN, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and she's a valuable resource for anyone looking to navigate the financial market. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did, I couldn't have a better choice.
Nice info in the video. The only change I would make is to include the estate planning/POA/parental guardianship in the 30’s decade. You never know when you’ll get sick, be involved in an accident, or another scenario where these documents will prove essential.
Don’t forget your net worth includes your home, but you have to have a home no matter your age so including that can sometimes skew the actual numbers. You can’t make 10 percent interest on your own house.
You don't have to have a home. You can sell and rent if it's in your budget. You can even live in an RV and rent nothing. Home equity is absolutely something you can access
Awesome video. There are a lot of net worth by age videos out there but this one goes above and beyond by not only showing the numbers but adding context and explaining realistic goals. Thanks for all the great videos in 2024!
40 years old, single, net worth a little over $2m. At age 34-35(2018-2019) I had a negative net worth and have had a decently high income the over the last 5-6 years and I’ve invested most of it. Most of my net worth is in real estate equity spread out over 14 rental units, a few hundred thousand in s&p500, and a few hundred thousand in cash and relatively expensive vehicles. What helped me get further ahead is eliminating my largest expense which is housing. For younger people buy a house and rent the spare bedrooms to your friends, it’s not ideal but offsetting your mortgage with rental income helps your active income go way further with investing.
Nice. My only suggestion is that estate planning happen as soon as have kids or have a non-working spouse. This should include making sure you’re adequately insured, against death, disability, and lawsuits, especially if you’re high income.
We really started saving heavily for retirement in my early 40’s. I’m 49 this year and really wish I had started so much sooner. I’m very confident we’ll meet our retirement goals on schedule, but it would have been so much easier had we started earlier. Luckily I’ll have a pension to lean on and the only debt we have is the house. Good video! Love the channel!
I'm 36, with a mortgage and a family and roughly a -50k net-worth, what I've been struggling with is following a lot of financial advice, and between living in New York state, with a high cost of living an high taxes, on top of working for the federal government where I do have the rare pension, almost all of these rules don't work for my calculations, but great info nonetheless.
If you’re willing to share a few details about your accrued pension and plan specs, I can provide an estimate of the value in today’s $ to give you an idea of where you’re at EDIT: I should specify that I work with pension plans in actuarial consulting
Will be 50 next year and considering retirement in the next couple years. Just finished rebalancing my portfolio and am looking forward to having more time on my hands in the near future. Staying out of debt and consistently contributing to retirement accounts is the key.
I'm 34 net worth 1.3mil. I built all this in 9 years working a avarage job. I also came from a rough background not having a full time job till I was 25.
34 and in the 50s high end. Been real estate investing for a while and the snowball is taking off. All things take time to build up. Happy I started early.
@ItsOnPaper Lmao 🤣, I'm just happy! I Come from a poor latino family with my dad dropping out of HS and my mom with a HS degree only; who both immigrated from there countries 35 years ago. I'm in the rare statistic of making it but worked hard these past 8 years to be where I'm at (: No debt and working as a software engineer 🙏🏻
Can you make a video about ESG ETFs as an alternative to the S&P 500 and VOO etc? There are certain companies a lot of people (myself included) are not comfortable investing in so it reduces their investment options.
16 years old.. have about 9200€ in the bank, pretty happy abt it But you know, got goals 😂. More seriously, watching this made me pretty happy about myself, even tho I have lots of ways to go, I do believe its a solid start. Only thing i'm a tiny bit dissapointed about is theese videos are mostly based in the US, but with parents help, understanding local systems is alot easier :) And thank you for making theese videos, probably the biggest reason I actually started investing (current portfolio is worth ~1600€, adding to it, and investing about 45% of what I get whilst I can)
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sonya Lee Mitchell’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Timing the bottom of the market is notoriously difficult, even for seasoned investors but consulting with a financial advisor can also provide personalized guidance tailored to your specific financial situation and goals.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisr chooses entry and exit orders
Joseph Nick Cahill a highly respected figure in his field. I suggest delving deeper into his credentials, as he possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
You’re doing better than most at your age! Even the fact that you watch this type of content at 26 says your mindset is on the right trajectory! Keep it up
This entire video seemed unfeasible given the state of the housing market and how large student loans are on average. I have a savings rate of 23% and a salary above the median household income in my state and I'm incredibly far behind these numbers.
@@KenW418 I think most people overstate how much is needed to retire. With some planning ahead of time to have little to no debt, I wouldn't need much tbh.
I’d love to see more content showing inflation adjusted goals. For instance all the values in this video are in todays dollars but someone who is 30 now will need substantially more in there 60s than some in there 60s today. Like what are real good goals for a 20 or 30 year old 10, 20, and 30 years out with inflation accounted for. Basically the reasoning behind why savings goals are always in percentages of today’s income and not dollar amounts.
Not with interest rates and mortgages. I am in my early 30's and will never afford a house unless I cash out my retirement (which i am not going to do), or I live in a substandard area full of crime and ghetto people.
Thank you, i opened my roth ira yesterday and i feel like im so late, im only 21 and comparing my net worth to the median gives me a real perspective of where im at and how im really doing so thank you i needed this channel honestly
Very nice video covering the basics. I am sharing this not to brag but to show what’s possible. I’m retired and I have 2 separate portfolios. One is a long term growth dividend portfolio of stocks where i sell covered calls strategically and my 2nd portfolio is the Crypto trading strategy where its all about income. I am on pace to make $120K in realized options profits and around $869K in crypto profit... What is great is that my long-term portfolio is still up significantly as well. As such, it’s possible to generate excellent income but still have a total return perspective. ...Amidst this, the insights of a knowledgeable guide like that of Expert ‘’Matthew D Heck’’ can be crucial. His expertise in navigating the nuances of trading has been the key for Me understanding and making the most of these emerging financial trends.
New survey has revealed rising adoption of cryptocurrency among the world billionaires, as they start experimenting in the digital currency, expanding their investments portfolio beyond traditional profitable assets.
How would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach him, if you don't mind me asking?
Can't share much here, I take guidance from ‘Matthew D Heck’ a renowned figure in his industry with over two decades of work experience. I'd suggest you research him further on the web.
Retired at 55 several years ago, $1m in the bank. More time with my wife. 3-5 trips to the gym each week that I couldn’t do while working. Way less stress. More time for hobbies. Cycled 5,000 miles my 1st year of retirement. Joined a golf league that work travel had prevented. Actually have seen our net worth INCREASE nearly each year in retirement, thanks to no debt and years of dedicated investing with my FA Abigail Ann Ryan who made me a million after giving her a sum of one hundred and eighty thousand to start. Now i'm able to help my elderly mom more. Way more time spent outdoors with my family. Life is good!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@GeorgestraitStriat However, if you do not have access to a professional like SUZANNE GLADYS XANDER, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
i am 46 and my retirement account has gone down by 13.7% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
crazy i made so many mistakes in my 20s and almost lost money during the 2009 crisis and can't believe we are in the killing it column and also better in the Empower dashboard - I use that all the time. Sometimes i'm not sure if these numbers are accurate until I read the Millionaire Next Door book by the late Dr. Stanley
I’m at $1,030,000 roughly at age 24. A lot of it had to do with luck, but also taking big risks and learning with the trends like a madman. I hit it big on TikTok shop the last 2 years, put 90% of it in crypto and hit it big again. Sold all my crypto first week of December 2024. I owe just under half a million in taxes for 2024. (And no I did not count the taxes I’ll be paying as part of my networth) ***EDIT: I should also say, if I were to try to repeat everything exactly 10 more times I don’t think it would happen a single time. My timing, skillset, and assets happened to all be perfect and the perfect time for basically 2 years straight. Yes I worked my ass off and sacrificed 2 years most people my age spend drinking or partying. But luck was maxxed out too no fault of my own
Unless you have some absurd situation like a dozen plus kids in VHCOL city, you should be able to easily afford childcare with those numbers, but no one likes to pay costs are skyrocketing no matter what the wealth level. If one of your earners makes less than the childcare, it could be pragmatic for them to raise the children themselves instead, but with those numbers that is less likely, and it is not always possible or the desire of one of the parents to forgo a career.
Hell yeah, I’m 24 and have a $150k net worth. Between cash and investments, I want to buy a house soon (currently renting) and still plan on increasing my income/ knowledge. Congrats to everyone!
@@gonzaloagustinzambrano2507 I agree, properties in my area are still selling like hot cakes. Realistically I need to meet more people in the RE space because you won’t find deals on Redfin/ zillow it’s usually relationships that can help with that but I do plan on house hacking OR using 1099 income (using a portion of said property strictly for business) to have deductions on mortgage costs against said income. But we’ll see, still a dilemma if there will be a RE market crash or if rates will go down. But good luck to you. Side note: I personally wouldn’t stop investing in stocks, it’s worth it as costs of investing are lower than in RE, you will have maintenance costs and your mortgage can increase along with other headaches so best to think twice before biting the bullet.
I’m 24, I just hit 105k net worth last month. My investment portfolio is only $800, lol. Most of my net worth is tied up in my house & 401k. However, my goal was a house. Now my goal is to build my investments. Just feels like I’m still behind, regardless of owning my own house & having a decent start to retirement.
I didn't start tracking my net worth to my early 30s. But i would estimate between retirement and equity in my house i was around 200k at 29 years old. This with only a slightly above average salary.
Nope. I’m on track for it in the Uk where salaries are lower. Fairly average job. If Americans stayed at home and didn’t bankrupt themselves with education fees and car finance I think it’d be so much easier. Edit: The above advice goes for anyone in the west, but it seems to be more common in American culture.
@@Malitubee computer programmer. At 29 i was probably making almost 60k started at 22 as an intern for much lower. I drove a20 year old car and got a modest house. Mortgage was the only debt. I'm now 35 and debt free. Married and net worth of almost 700k.
44 year old physician here. Net worth more than $1.2 mil (cash) and a house in California that is almost paid off since I bought it before the pandemic and my interest rate is fixed at 2%. I don't really plan on retiring. No kids, no spouse so I'm pretty comfortable where I am. I can take vacations when and where and for how long I want. If anything I will buy a house overseas in the beaches of the Philippines and vacation there every so often. My point is that everyone has their own goal and my goal is certainly to NOT stop working and curl up in a corner somewhere. I love my work and am pretty passionate about it. I'm very lucky in that regard.
@@Polkadot2 the hardest part is finding a balance of what you want to do and what is financially secure. Vacations and idle time can be re energizing and necessary, but the plan of retiring and “doing nothing” can be detrimental. You can only travel for so long. Family and time are key.
Very helpful video I never subscribe or like videos and did on yours. I’m 34 years old, self employed making around $600k/year, no debt besides my mortgage, live in a 3plex where tenants pay for my mortgage and with a net worth of around $2M and I thought I wasn’t doing good. That said, we can always do better!
I'm finding this video really helpful and useful. I even shared it. That said, talking about retiring around 60 with these numbers feels SO outdated today and seems as though in 26 years when I hit 60 it will be utterly irrelevant. Good targets nonetheless, but I expect to be joyfully earning income well past 60.
It was also a bit odd that for every age range we discussed the top of the range. 20's "where we should be by 29", 30's "where we should be by 39", but then at 60's it was "where we should be at 60" (rather than at 69)
My wife and I are 25 and are on the brink of a $400k net worth. I was able to buy a house in 2020 right before shtf. That accounts for about half. The other half is discipline and hard work. Listening to good influences like Humphrey, Graham, and Ramsey makes a difference if you follow through. If you’re reading this, you can do it too! It won’t be as fast as we have been lucky but your hard work will pay off. As for the goals he recommends: We’re saving 20%, only have a mortgage for debt, and plan on increasing our income through rentals. Like I said, Humphrey gives good advice. Listen to him.
@ also, your net worth isn’t just real estate, it’s also the money you have. Over $100k of our new worth is in the market or in savings. About $200 is the equity in the house. About $70k in valuables: cars, tools, firearms, etc.
@@Paracorder I’m just struggling to believe that those are real numbers. I thought either you are not saying something important (like having started from a heritage), laying, or not good in calculations.
@@ananasshow definitely understandable. Like I said we were very lucky with the house. When I left college my parents were very kind and gave me a $10k gift for the down payment and renovations. Our house was a foreclosed pos. Then the housing crisis started. About $25k was from accident payment injuries. Right now we’re putting away $2.5-3k/m into a high yield savings account and in 2 years (hopefully) will be able to pay off the mortgage. Certainly depends on how much I’m able to work as I’m hourly (currently looking at back surgery relating to on if the accidents) and about 40% of my income comes from OT. I work a very seasonal job and work 80h/w in the summer a this time of year (Jan when writing this) I’m at about 40-60 week dependent. When I bought the house I was making $1200/m and the mortgage was about $1000. Certainly not a great situation but luckily it turned out well. That instilled a lot of discipline in me. I remember when I finally had $10k and the relief that came with being able to afford a furnace if it went out. Last year I worked on changing my mindset from scarcity to abundance and started budgeting this year. That made me realize we could payoff the mortgage in just a few years instead of 30. To recap about $35k was not our doing. While $35k is not as much to us now, a few years ago when we were fresh out of college it provided a much needed buffer. We never actually used the money but it was more the emotional benefit of having it there. Not sure if I’ve convinced you but maybe there’s something of use to someone else in there.
Happy New Year to everyone! Lets' have a great 2025
thanks internet finance friend! I hope you 2025 is the best one yet.
I hope you get rich.
Happy New Years. I Hope everyone reading this Destroys ALL of there goals this year!!!
just came from your 500k portfolio reveal! hopefully you still have pltr and tesla they great huge!!
😊
Hit 140 yesterday. Fastest I’ve ever driven.
Lmao!
😂😂😂
Mph or kmh?
km/h😂
@bennyc655 140 mph isn't really hard though. I've owned several cars you could do it with.
I started my finance journey at age 35 4 years ago, and have consistantly seen progress and gains by age 39.
If anyone out there feels they are late or behind, Trust the process and stay dedicated.
This video is a really great overview.
It's over in your 40s if you haven't started.
@@YouHateMeForISpeakTheTruth It's never over, till it's over..
@@YouHateMeForISpeakTheTruthhaha don’t bring other ppl down just because you gave up broke boy.
It’s really great to have goal setting. However, just want to emphasise the challenges at each decade. 20s are when you earn the least. 30-40s are typically when people have children who are financially dependent. 40-60s are when you have dependent parents. 70s plus are when you need to account for your own medical needs. All the above means it takes great financial discipline to stay on course
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldn’t have to worry about savings as you do now. Thanks to my FA, my portfolio is doing really great and I’m proud of the decisions i made last year.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
i've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
Stacy Lynn Staples is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.
Thank you for the recommendation. I'll send her an email and I hope I'm able to connect with her.
Good job starting so young. I did not wake up til I was 40 and realized I had 30k in debt and was late on a mortgage pmt. Now at 53 I have a paid off house and a net worth right at 900k. Just wish I started sooner
investors like you should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder.
It's really challenging to create a strong retirement portfolio, so I always preach about the relevance of having an advisor.This helped me stay afloat and improve my portfolio of $450k to over $660k in just 3 months.They have strategies that are specifically suited to your long-term objectives and financial aspirations.
my partner’s been considering going the same route, could you share more info please on the advisor that guides you
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Carol Vivian Constable for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
At 243k at 27.5. With a 80k salary. Been aggressive with investing and saving. Almost killing it!
Just hit $90k net worth today (not including vehicle) at 25
- $47,000 personal brokerage
- $31,000 401k
- $12,000 checking account
Looking to keep pushing really hard on investments and hit where you are around 28-30 depending on the market!
I’m 21 I’m around 45k net worth I’m at around 85k salary and I’m trying to get to my first 100k portfolio by 22 🙌 your story inspired me yessir
I’m 15 with a net worth of 178k USD am I killing it?
@ ay fire man good for the age
@@cedric5055 stop lying
I'm glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love
My advice to everyone is that saving is great but investment is the key to be successful imagine investing $15,000 and received $472,700.
wow this awesome I'm 47 and have been looking for ways to be successful, please how??
Making touch with financial advisors like Elizabeth Regina Nelson who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times
She is really a good investment advisor. I was privileged to attend some of her seminars. That's how I started my own crypto investment
Elizabeth Regina Nelson has really set the standard for others to follow, we love her here in the Uk 🇬🇧 as she has been really helpful and changed lots of life's.
I appreciate the median and average. Definitely puts into perspective how much outliers can shift the numbers. Glad to say as I hit my mid 30s I'm close to the "killing it" number! Appreciate all of the knowledge you've shared in 2024. Hope 2025 is successful for you and all of the viewers!
Yep!! awesome, happy 2025!!
I just tipped over the 500k net worth, and I'll be 36 this year. Watching this video made me feel pretty good about where I'm at, and reassures I'm on the right trajectory.
@@dillonrisk that's really good, I'm at 375k same age as well
I’m glad people recognize it’s not just income. I am pretty low income. Roughly 45k/year from all income sources. But I spend nothing. No credit cards, car is a 2008, clothes all from high school.
+117k home value
-110,000 mortgage, no other debts
+29,000 stocks, bonds, indexes
+22,000 Roth and 403
+5,000 cash
So 63k net worth at 26 :).
Killing it 👏
any in bitcoin?
@@zygradex1867 Eh like maybe 1k. I throw $20 every time I deposit into my stock accounts. Mostly a store of value and in the improbable case that SHTF and the USD dies
jes 37 and i never earned more than 38k a year, guess I shouldnt have gone into the trades
@@handlesrstupid123really what do you do??
I’m 35 with a $60,000 net worth. My goal by the end of 2025 is $100,000 net worth by paying off my car and another debt. I’m doing a low spend challenge for the year and taking classes to change careers and increase my income!
Car debt mid 30s is insane 😭😭😭
@GhostyyyY__ stay in your moms basement
Is there a specific low spend challenge you’re going to do? Changing your net worth by +$40k will be really solid!
Keep going beautiful, you’re doing great🌹
Great work. Good luck!
23 yo at $55k currently at the end of 2024. Started at $0 in March and began working 2 jobs 7 days a week in May
based 🫡
@@GeepReal that’s some real dedication! Congrats 🎉
Im 29 and sitting at $500k.
I bought a house when interest rates were low and it appreciated. I also invested as much as I could afford to in my early twenties (which wasn’t much.) and it’s amounted to a 300k investment portfolio. Almost paid off student loans, wife’s car and school paid off, just have my car, the house, and 16k in my student loans left.
Came from near homeless and am trying hard to outrun my fears of returning to the lifestyle I had as a kid.
why not pay off your debt now????
@ Trying to buy a second house and turn my current into a rental. Hoping to put 20% down to avoid pmi. And my investments have been yielding a return higher than the 5% I’m paying in interest. So it just isn’t worth it from stickily a yield perspective right now.
Don’t play that obnoxious house flipper/rental game. It’s way more headache than it’s worth. You’re not some billionaire real estate mogul.
@@jeltoninc.8542 lol I am not, however I am a commercial lender with significant amount of experience, determining the profit models of investment properties.
my interest rate on my house is 2% it cost 290k and is now worth 550k I can rent it for 2800 a month and my mortgage is 1500. It would be very unintelligent to sell this house. But you do you brother, I’ll do me.
@@cody592 Iam currently in my early twenties, what do you suggest investing in for long term?
Kudos on giving credit from where you are getting your numbers
of course
Am 59 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, “Brenda Davies Clarke” turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thank you for saving me hours of back and forth investigation into the markets. found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
that number thing is super useful when you start saving young, ive always heard the "buy index funds instead of putting it in high interest savings" and now i actually understand why, cheers
I reached $155k today. Thank you for all the knowledge and insights you've shared with me over the past few months. I began this journey in November 2024. Financial education is essential for over 70% of the population, as only a few are truly literate in this area.
Thanks so much Angie Chen Owens
I'm surprised that this name is being mentioned here, I stumbled upon one of her clients testimonies on CNBC news last week.
Angie Owens strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
The first time we had tried, i invested $1400 and after a week we received $4,230. That really helped us a lot to pay our bills.
You trade with Angie Owens too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I am 68. I retired 9 years ago. I have a net worth of $1.2M with an annual income from pensions, annuities, and social security of $60k. I live comfortably in the Bay Area and do not need to withdraw from my retirement.
That's perfect. Great job thinking ahead and enjoying your retirement.
Life goals 🙏🏾🙌🏾
Good job 👍👏. You got out of the rat race.
That all sounds great, but sorry you have to live in the Bay Area.
By retiring early, what do you do for medical coverage? Do you still have a job of some sort just for the benefits? Do you buy coverage from a benefits company?
I plan to retire by around 55, so I’m trying to learn more about what to do for insurances etc when not from a job.
Thanks!
23 yrs old, wrapped up 2024 at 65k net worth! No debt or anything, on track to be at 100k at the end of the year
Nice man! My net worth is about 70k as well. But I’m 24. But I got around 50k in stock so hopefully things go well these years.
Let’s gooo! Great work guys! Keep it up!
26 y/o, 55k net worth here
@@dez7800 good job man! Being financially responsible is not easy but it’s nice to know what we are doing is working
Just wait until you buy a house lol
To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.
Stock investments can offer great potential, but it's essential to approach them with caution. I recommend consulting a financial advisor who can help you determine the optimal times to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
How can I reach this advisor of yours? because I'm seeking for a more effective investment approach on my savings
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Lisa Grace Myer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Katherine Grace Maier for helping me achieve this
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
I'm celebrating £32K stock portfolio today...
Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
In my mid 20s. I know a lot of people in here are way ahead of me, but I just recently crossed into a positive net worth! Student loans started me a bit behind but I'm working on it!
Good stuff as always. I am 39 with a 1.2M networth.. I knew I was doing well but never realized I am killin it.
Dang after all debt you have 1.2 million sheesh niceeee
@ Yessir! And Ty! 260k of that 1.2M is home equity (420k - 160k mortgage remaining) and that’s the only debt I have.
You're more than killing it. Im also 39 with a 450k networth. Would probably be in the 1m if i bought a house early 2010s. So im between high end and killing it
Congrats!
Damn! Good for you!!
Im 25 and a half and my spouse and I have around 30K in investments and 20K in savings. Being married so young (23) definitely helps with the plan. The idea is to have ~150K in investments by the time we are 30.
Totally obtainable and if your investments do well you’ll do a lot more most likely.
awesome!!!
Good job! Most people our age pay zero attention to investments so your mindset already puts you ahead of 90%.
Use your money to get a skillset or education to level up your income potential.
27 & single at 200-250k depending if I want to sell my business 🤷♂️
Used to go out alot and party I had no saving until around 21, then i switched it up. Tbh In the last 2 years ive basically lost all my friends, most of the people around me didn't support my mindset, rifts were created. I spend all my time focusing on being the best version of myself this includes working on mindset, gym, work, business and talking to a small amount of people who have made it or similar interests about business, stocks and crypto. I just passed the new year 12am at the gym and then working afterwards.
It is what it is, trying to become a millionaire before 30, let's see who wants to come around to support me then.
Everyone’s been preaching investing lately as a source of passive income but with a 70 hour weekly jobs and limited knowledge of financial instruments, how can I actually stay on top of things, I see every TH-cam video saying BUY BUY! But when and how do I sell for profit at the right time?
The current market might give opportunities to maximize profi.t, but in order to execute such effective transactions, you must be a skilled practitioner
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
"Aileen Gertrude Tippy," a well-known authority in this field. I would recommend looking into her credentials more because she has a great deal of expertise and is a great resource for anybody looking for advice on how to navigate the financial market.
Thanks for sharing, I just looked her up and I would say she really has an impressive background in lnvesting. I have sent out a message.
Very informative video you have, I have been able to understand the messages you pass but there are some other challenges that may come about when taking some other risks
I don’t think anyone that has dedicated time,money and efforts to scale to new net worths in whatever field of investments hasn’t reach some of the challenges that you would face personally.
My son has been able to help with such issues through a CFA he was able to link me up with. Since hiring my advisor? It’s been better handling such financial turmoil that may happen
Oh yeah! You can definitely say that, it does worry me a bit, but not as much as it would worry the average guy, my investment portfolio has survived a couple of recessions unscathed, been privileged to be guided under the stewardship of an extremely gifted investment manager by the name JOSEPH NICK CAHILL
Sure.. Joseph Nick Cahill has a really unique gift of being able to looking far ahead down the road to spot future investment portholes and possible major mishaps, so he helps me make the safest investments and also helps me hedge all my investments against possible future downturns
Ok… I’ve been able to do some research on the web and I found his site, he has his license so that’s reassuring
8:05 I did the same thing in 2021. I had around $23k left on a $60k car loan from 2019. My car payment was $800 a month and was a large portion of my take home pay. I had well over $23k in a brokerage account so I cashed out the equivalent of my auto loan balance and paid it off in one big payment. My brokerage account obviously took a huge hit but the car was paid off and I haven't had a car payment since, and my brokerage account recovered and exceeded what it was before. Even though my interest rate on my auto loan was only 3.99%, the peace of mind of having it paid off was worth it.
Do you regret buying such an expensive vehicle?
@@Denise_Cocoa no, not really. It was the worst financial decision I ever made but it was also my first new car and it was more or less my dream car. I recognize the opportunity cost, my net worth would be significantly higher right now if I hadn't bought it but I don't regret it. That said, I doubt I would ever buy a new car again. I consider it a lesson I am/was willing to pay for once.
Young adults and the new car. A classic mistake we all make!
Nice man. It's always hard to keep a loan, but your brokerage account probably would have appreciated 8-10% yearly and your debt was only 4% interest :(. Still I respect the peace of mind!
This video depressed me slightly but I’m on the right path. I’m 39 and have around $15k in net worth right now… which is the first time I’ve had a positive net worth, I was negative by around $200k a year ago. Should be alright with hitting a million by 45 with the moves I’ve been making.
You are moving in the right direction.
At 47, I’ve come to the conclusion that the key to building wealth is developing good habits like regularly putting money away at intervals. It has worked for me since I was able to save over $15k which I've since flipped 5x consistently building my portfolio.
Wow that's impressive! I’m green to investing. I want to make better financial decisions but everything seems complicated. How are you doing it?
I didn’t have any prior investing experience. A CFA, Herman W Jonas has taken all the guesswork out ever since I got into his program. My initial capital of $15k invested in stocks, and crypto over the short term yielded me huge profit plus bonuses. It’s all about accumulating wealth through compound interest investments.
That's your view. In my experience, there is no such formula, it is nearly impossible to achieve success with investing. It’s all just gambling.
Can he help me? I’ve made more losses than profits since I started investing in stocks and it's quite embarrassing at this point.
Hermanw jonas that’s his gmail okay
Hi Humprhey, I really needed to hear about the weight lifted off from paying off your car bc I’m one of those nerdy math guys who’s constantly looking at math vs peace of mind in whether I should paying off low interest debt (less than 6%) vs investing the extra in skills, risk taking business ideas, or just in the market to make the spread
I'm chosing not to pay down my house, since I have a low interest rate. Investing that money makes much more sense, because not only can you earn a higher return, but that money is also liquid, and not locked up in your home equity.
Yes I have the money to pay off my condo ($33,000 left) but I’m thinking of investing it instead. My interest rate is 4% and 10% is the average rate of return in an SP 500 fund . Or I may put half toward my mortgage and the other half invested.
@georgialee6755
DON'T!
That's the math speaking by the way,
A 6% spread justifies keeping the money invested!
Same camp. 60k left owed on my house at 4.375%. Putting an extra $150 towards the home. $250/mo in 60:40 retirement. 6%+4% match to 401k. Tax returns are always in I bonds. Live like your poor early. The faster the snowball gets rolling the less you’ll have to contribute later on.
This is where I disagree with Yang, paying off your home does not make sense if you can earn more elsewhere with that money.
Same. Mortgage is 2.7%.
The idea behind The Elite Society's Money Manifestation ebook really blew my mind. It’s like stumbling upon a hidden shortcut to financial abundance
My wife and I are both 36. Just did our annual net worth statement from The Money Guy Show and we are officially net worth millionaires at $1.2M. Doesn’t feel like it though as 50% of our net worth is in retirement accounts and another 25% is in our home.
We started with Dave Ramsey’s FPU which got us on the same page, then graduated to The Money Guy and Humphrey as well as others to grow our wealth. Hopefully when our kids get older it’ll feel less like we have to penny pinch.
Keep up the hard work everyone!
You’re married. You gotta cut it in half
@@intensifier1346 no you don't.... net worth is household . It is the total accumulation of assets minus the total accumulation of debts. If its good enough for the IRS or a lawsuit.... its good enough for retirement planning.
If you try to separate it.... Who would take how much of the house? Are they planning on retiring separately? What if one spouse doesn't work, are they then worth nothing?
Now if they divorce... then sure... but divorce takes every retirement plan and throws it out the window along with their love
@@intensifier1346no he doesn’t you’re just bitter .
@@ryjoph89 there is no way you don’t think a single person with a certain net worth isn’t better off than a couple with that same net worth
@@intensifier1346 I never said two people with the same net worth as a married couple is not better off.
I said you don’t cut net worth in half if you are married. There is a definition of how net worth is calculated and that is not how it is calculated.
I'm nearly 37 and hoping to be at the low end by the end of 39, then hoping to jump to the middle category by end of my 40's, reach the high end category by end of my 50's and killing it by end of my 60's. I started late with student loan debt (60K) and not taking finances seriously when working seasonal outdoor jobs that were fun but paid poorly. Here's to "waking up" and taking some control over my life, sacrificing and making serious gains in just a few years. 🍻 I'm now achieving goals I only dreamed of doing like going on a trip to New Zealand. Just need to watch out for lifestyle inflation. 😅 Thank for putting out these benchmarks to keep me motivated!
48 years old, former corporate executive - retired early. $3.1 million net worth - $700k home fully paid off, $800k 401k/IRA, $1.6m in taxable brokerage.
The $1.6m yields about 9% for $150k/year in dividends/distribution. My portfolio in my 401k/IRA is geared for growth with equal balance between VOO, VTI, QQQM, DIVO. My taxable brokerage is about equally balanced between JEPQ, SPYI, RQI, UTF, UTG, PBDC, PFFA, SCHD, TLTW for income.
Sheesh who’s your Financial Planner?
@ Friend I am my own financial planner. I have spoken to multiple financial planners who advocated the 4% rule and wanted to charge me .6-.8% each year. Until I get too old to do my own research, I am my family's financial planner.
@@ericmark47 What did they say that made you think they had a financial planner?
@logicae4096, great summary with specifics in the taxable brokerage account. I am in the process of adjusting my taxable portfolio of stocks to dividend ETFs. 2024 was a stupid great year in the market. Now I want that explosive gains to build wealth for the next 20 years through dividend ETFs. Your list and my list are almost identical. Thanks for sharing. I have about $2.6mil in stocks and $1.4mil in property/IRAs between me and my Wife. I am "retiring" in March. 🎉 She wants to work for a few more years.
@@ericmark47watching videos like this and reading to get yourself educated to be your own financial planner is the best way to wealth!
Humphrey i am proud of you i believe in your age you already killing the goal for 50s. Congrats you made it enjoy it 👍🏻
In light of the diminished inflation signals and the Federal Reserve's decision to suspend rate hikes, which investments would be the greatest additions to a $120K portfolio to improve portfolio performance this year?
The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
This is why I entrusted a fiduciary with my investment decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
Please can you leave the info of your lnvestment advisor here? I’m in dire need for one.
Credits goes to “Diana Casteel Lynch” one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Mid 20s & I’ve more than doubled the “killing it” category for my age 💪🏼
I could do absolutely nothing for 15 years and still be “killing it” by the time I’m 40
This video is a game-changer! So much helpful information packed into one clip. I personally don't like promoting anything in comments, but I simply have to share with you a book called The Gilded Nexus of Prosperity, that book changed my approach to money, the methods in that book are impressive
great book!
I appreciate these realistic goals, it’s easy to get caught up in thinking you are doing much worse than others
I'm new to investing, and l've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
As a beginner, it's essential for you to have a pro or a very good trader to keep you accountable.
If you can, then get a professional to trade for you I think that way your assets are more secure.
Someone like expert Scarlett Hansley
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
This is correct, Scarlett's strategy has normalized winning trades for me also and it's a huge milestone for me looking back to how it all started.
Just turned 27 here, have around $45k in my Roth and individual accounts invested, have a vehicle worth around $25k that’s fully paid off. Have 0 debt.
So total net-worth around $70k
So I’m not killing it… but I’m strangling it lol. Quite the gap between high end and killing it.
I'm not killing it, but I'm poking it!
Lets just say I would be tried for attempted murder
Who am I kidding? I’m just sparring with it
Yep lol I know. Its meant to be a very big stretch goal
Keep in mind that those numbers are good for a decade. So being in the early thirties and in the middle is pretty close to killing it imo. Time is everything.
i love the different goals thanks!
20 Year Old here. To avoid student loan debt and pursue a fulfilling career I started as an EMT when I turned 19. My current net worth is 110k and is diversified across broad market etfs, and high yield savings accounts. Always consider trades instead of immediately looking to a 4 year degree!
How much do you get paid as an emt
@@bleach6427 It’s a low hourly rate, but we primarily work 48-72 hour shifts so the overtime adds up
@@bleach6427 My hourly rate is low, but we work 48 or 72 hour shifts in my location so it adds up
@@bleach6427 $31,000-48,000 a year. $110,000 net worth doesn't really compute, in the space of 12 months.
@@FireMedicGJ I’m getting my emt rn and about to start firefighting. The only bad part is that I started this at 24 instead of when I wish I did it at 19
I always worry that I never have enough based on where I'm at and that everyone else earns more and has more. But watching your video took some of that anxiety away. I feel much more confident about what I have at my age. I make the mistake of comparing myself with others when it comes to the material things. But then I also realize that many people are in a lot of debt and living way beyond their means.
I’m 27 and I just paid off my house New Year’s Day, now completely debt free and ready to start growing the bank for the next investment
This actually gives me a lot of perspective. Im more than 20 years ahead of the curve now and way beyond even the largest values. I always thought i was just average or a little above average.
Comparison is the death of your own goals. Your goals are yours and personal for a reason
Being a 24 year old young man, this video is really a gem! Thanks a lot
I'm killing it. Love it. Not bad for starting my career at 2009... What at utter disaster of a start. The silver lining is resilience I guess 🤷♂️
I want a balanced portfolio with growth investments, safe investments, and also focus on dividends to gain up to $20K monthly, my concern is picking the right stocks that can survive a recession. How do i go about this ?
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. Depending on the worth of your portfolio, you should consider financial advisory.
I think you're right my portfolio is perfect for every market season yielding 75% from early last year till date. I and my advisor are working on a 7 figure ballpark goal, though this could take another year. financial advisors are the most sought-after professionals after doctors.😊
Could you kindly elaborate on the advisor's background and qualifications?
I have worked with a few financial advisors before now but i ultimately settled for 'ELEANOR KATE FENN'. She is SEC regulated and licensed in US. You can easily look her up
My CFA is ELEANOR KATE FENN, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and she's a valuable resource for anyone looking to navigate the financial market. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did, I couldn't have a better choice.
Nice info in the video. The only change I would make is to include the estate planning/POA/parental guardianship in the 30’s decade. You never know when you’ll get sick, be involved in an accident, or another scenario where these documents will prove essential.
Don’t forget your net worth includes your home, but you have to have a home no matter your age so including that can sometimes skew the actual numbers. You can’t make 10 percent interest on your own house.
You don't have to have a home. You can sell and rent if it's in your budget. You can even live in an RV and rent nothing. Home equity is absolutely something you can access
Awesome video. There are a lot of net worth by age videos out there but this one goes above and beyond by not only showing the numbers but adding context and explaining realistic goals. Thanks for all the great videos in 2024!
The difference between the means and medians here really highlights economic polarization.
40 years old, single, net worth a little over $2m. At age 34-35(2018-2019) I had a negative net worth and have had a decently high income the over the last 5-6 years and I’ve invested most of it. Most of my net worth is in real estate equity spread out over 14 rental units, a few hundred thousand in s&p500, and a few hundred thousand in cash and relatively expensive vehicles. What helped me get further ahead is eliminating my largest expense which is housing. For younger people buy a house and rent the spare bedrooms to your friends, it’s not ideal but offsetting your mortgage with rental income helps your active income go way further with investing.
Nice. My only suggestion is that estate planning happen as soon as have kids or have a non-working spouse. This should include making sure you’re adequately insured, against death, disability, and lawsuits, especially if you’re high income.
We really started saving heavily for retirement in my early 40’s. I’m 49 this year and really wish I had started so much sooner. I’m very confident we’ll meet our retirement goals on schedule, but it would have been so much easier had we started earlier. Luckily I’ll have a pension to lean on and the only debt we have is the house. Good video! Love the channel!
I'm 36, with a mortgage and a family and roughly a -50k net-worth, what I've been struggling with is following a lot of financial advice, and between living in New York state, with a high cost of living an high taxes, on top of working for the federal government where I do have the rare pension, almost all of these rules don't work for my calculations, but great info nonetheless.
If you’re willing to share a few details about your accrued pension and plan specs, I can provide an estimate of the value in today’s $ to give you an idea of where you’re at
EDIT: I should specify that I work with pension plans in actuarial consulting
i met a guy probably 55 yrs old the day he retired.. i know i caught him on a damn good day.. but he sure was happy with that pension 😂😂
Will be 50 next year and considering retirement in the next couple years. Just finished rebalancing my portfolio and am looking forward to having more time on my hands in the near future. Staying out of debt and consistently contributing to retirement accounts is the key.
I'm 35 and have about 680k. Love the vids, keep up the good work my asian broski!
I'm 34 net worth 1.3mil. I built all this in 9 years working a avarage job. I also came from a rough background not having a full time job till I was 25.
Does that include debt? Or you living with your parents?
Good job 👏
No debt and I own my own house.
What did you do to get there?
Did u hit the lottery?
34 and in the 50s high end. Been real estate investing for a while and the snowball is taking off. All things take time to build up. Happy I started early.
Great to see, just turned 30 and well above $250K and killing it on my own🙏🏻
I just gotta continue investing and be a bit more aggressive in my 30's.
stop flexing lil bro
@ItsOnPaper Lmao 🤣, I'm just happy! I Come from a poor latino family with my dad dropping out of HS and my mom with a HS degree only; who both immigrated from there countries 35 years ago.
I'm in the rare statistic of making it but worked hard these past 8 years to be where I'm at (:
No debt and working as a software engineer 🙏🏻
if you don't mind what's your job
@pierrepower3182 I'm a Software Engineer for a large Investment firm!
And dont get married bro 😂
Great video! Thanks.
Can you make a video about ESG ETFs as an alternative to the S&P 500 and VOO etc? There are certain companies a lot of people (myself included) are not comfortable investing in so it reduces their investment options.
16 years old.. have about 9200€ in the bank, pretty happy abt it
But you know, got goals 😂. More seriously, watching this made me pretty happy about myself, even tho I have lots of ways to go, I do believe its a solid start. Only thing i'm a tiny bit dissapointed about is theese videos are mostly based in the US, but with parents help, understanding local systems is alot easier :)
And thank you for making theese videos, probably the biggest reason I actually started investing (current portfolio is worth ~1600€, adding to it, and investing about 45% of what I get whilst I can)
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach you using their service?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sonya Lee Mitchell’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Great info. to start great Journey ❤🎉
One of my biggest financial mistakes was not being born in 1930 and dropping $100 into the S&P 500.
Timing the bottom of the market is notoriously difficult, even for seasoned investors but consulting with a financial advisor can also provide personalized guidance tailored to your specific financial situation and goals.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisr chooses entry and exit orders
Sounds interesting! Please can you leave the info of your Investment advsor here? I'm in dire need for one
Joseph Nick Cahill a highly respected figure in his field. I suggest delving deeper into his credentials, as he possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
Great video to start the year! ❤
26 and at negative 12k, lol. Will be out of debt in one year and 5 months, but even that minimum number seems crazy to me.
You got this!!
You’re doing better than most at your age! Even the fact that you watch this type of content at 26 says your mindset is on the right trajectory! Keep it up
Do you have a house?
That’s not bad so long as you have a plan to get rid of the 12k I’m sure you will be fine once you start accruing wealth!
Damn you're late
Awesome & informative!
I'm killing it. If I was in my 20s instead of 50s!
May you live to 100 and get all those extra years to Compound what you have.
@SnowyCountryChicken oh God I hope not. Unless a million or two just drops into my savings accounts
You're probably like the majority of Americans. For 90% these numbers in the video are unrealistic.
This entire video seemed unfeasible given the state of the housing market and how large student loans are on average. I have a savings rate of 23% and a salary above the median household income in my state and I'm incredibly far behind these numbers.
@@KenW418 I think most people overstate how much is needed to retire. With some planning ahead of time to have little to no debt, I wouldn't need much tbh.
I’d love to see more content showing inflation adjusted goals. For instance all the values in this video are in todays dollars but someone who is 30 now will need substantially more in there 60s than some in there 60s today. Like what are real good goals for a 20 or 30 year old 10, 20, and 30 years out with inflation accounted for. Basically the reasoning behind why savings goals are always in percentages of today’s income and not dollar amounts.
2025 is going to be a great year!!
agreed!
Not with interest rates and mortgages. I am in my early 30's and will never afford a house unless I cash out my retirement (which i am not going to do), or I live in a substandard area full of crime and ghetto people.
Especially after January 20th!
@@METVWETV yes, yea.. because of the convict and election denier who duped the gullible masses?
@@METVWETVwhy after?
Thank you, i opened my roth ira yesterday and i feel like im so late, im only 21 and comparing my net worth to the median gives me a real perspective of where im at and how im really doing so thank you i needed this channel honestly
"retirement??? lol im 21. i need EVERY dollar" - me at 21
Very nice video covering the basics. I am sharing this not to brag but to show what’s possible. I’m retired and I have 2 separate portfolios. One is a long term growth dividend portfolio of stocks where i sell covered calls strategically and my 2nd portfolio is the Crypto trading strategy where its all about income. I am on pace to make $120K in realized options profits and around $869K in crypto profit... What is great is that my long-term portfolio is still up significantly as well. As such, it’s possible to generate excellent income but still have a total return perspective. ...Amidst this, the insights of a knowledgeable guide like that of Expert ‘’Matthew D Heck’’ can be crucial. His expertise in navigating the nuances of trading has been the key for Me understanding and making the most of these emerging financial trends.
New survey has revealed rising adoption of cryptocurrency among the world billionaires, as they start experimenting in the digital currency, expanding their investments portfolio beyond traditional profitable assets.
I heard his strategies are really good, How do I reach your Coach/mentor.
How would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach him, if you don't mind me asking?
Can't share much here, I take guidance from ‘Matthew D Heck’ a renowned figure in his industry with over two decades of work experience. I'd suggest you research him further on the web.
Use his name to quickly conduct an internet search Matthew D Heck
This was a great video, thank you!
Retired at 55 several years ago, $1m in the bank. More time with my wife. 3-5 trips to the gym each week that I couldn’t do while working. Way less stress. More time for hobbies. Cycled 5,000 miles my 1st year of retirement. Joined a golf league that work travel had prevented. Actually have seen our net worth INCREASE nearly each year in retirement, thanks to no debt and years of dedicated investing with my FA Abigail Ann Ryan who made me a million after giving her a sum of one hundred and eighty thousand to start. Now i'm able to help my elderly mom more. Way more time spent outdoors with my family. Life is good!
Smart, You've done well for yourself. It’s all about accumulating wealth through compound interest investment
With a good investment plan that ensures steady income, without any doubts you can prepare for a well organized retirement.
Wow this is really impressive...congrats on your success
please can i get your consultants info? or should i drop mine for privacy sake ?
@clancy Sure, just lookk her up.
I just turned 21 and I’m about to hit 5 figures in my stock account. Zero debt too. Gotta keep grinding
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@GeorgestraitStriat However, if you do not have access to a professional like SUZANNE GLADYS XANDER, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@LilyClark-g3q Oh I would love that. thank you.
@GeorgestraitStriat SUZANNE GLADYS XANDER.
Lookup with her name on the webpage.
I appreciate the content! Just keep an eye on inflation, a million usd today is a fraction of what it was 20 years ago.
i am 46 and my retirement account has gone down by 13.7% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Do you mind sharing info on the advisor who assisted you?
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
@@winifred-k9ehahahaaa no one believes you 😂
crazy i made so many mistakes in my 20s and almost lost money during the 2009 crisis and can't believe we are in the killing it column and also better in the Empower dashboard - I use that all the time. Sometimes i'm not sure if these numbers are accurate until I read the Millionaire Next Door book by the late Dr. Stanley
I’m at $1,030,000 roughly at age 24. A lot of it had to do with luck, but also taking big risks and learning with the trends like a madman. I hit it big on TikTok shop the last 2 years, put 90% of it in crypto and hit it big again. Sold all my crypto first week of December 2024. I owe just under half a million in taxes for 2024. (And no I did not count the taxes I’ll be paying as part of my networth)
***EDIT: I should also say, if I were to try to repeat everything exactly 10 more times I don’t think it would happen a single time. My timing, skillset, and assets happened to all be perfect and the perfect time for basically 2 years straight. Yes I worked my ass off and sacrificed 2 years most people my age spend drinking or partying. But luck was maxxed out too no fault of my own
gz on the wealth. Can’t believe taxes take so much money away though, I think that only businesses should be paying this much 😭
Yo my buddy did tik tok shop too and he is doing pretty well I think
Congrats man!
Good job dude. Now's the time to chill and let it grow safely. You're all set!
Hubby & I are 48 and we are killing it! Wohoo🎉
30 year old here, net worth is just over 1mil. However with inflation and childcare it doesn’t feel like I’m doing well. Childcare costs are crippling
Unless you have some absurd situation like a dozen plus kids in VHCOL city, you should be able to easily afford childcare with those numbers, but no one likes to pay costs are skyrocketing no matter what the wealth level. If one of your earners makes less than the childcare, it could be pragmatic for them to raise the children themselves instead, but with those numbers that is less likely, and it is not always possible or the desire of one of the parents to forgo a career.
Same. A bit over 5-6M$ net worth at 31 y.o., but still got financial anxiety.
Hell yeah, I’m 24 and have a $150k net worth. Between cash and investments, I want to buy a house soon (currently renting) and still plan on increasing my income/ knowledge. Congrats to everyone!
run the buy vs rent calculator before choosing to buy. Buying a house is not always necessary just bc america tells you you need a house
I’m in exactly the same boat I just don’t know if to buy a house and just keep on investing.
@@gonzaloagustinzambrano2507 I agree, properties in my area are still selling like hot cakes. Realistically I need to meet more people in the RE space because you won’t find deals on Redfin/ zillow it’s usually relationships that can help with that but I do plan on house hacking OR using 1099 income (using a portion of said property strictly for business) to have deductions on mortgage costs against said income. But we’ll see, still a dilemma if there will be a RE market crash or if rates will go down. But good luck to you.
Side note: I personally wouldn’t stop investing in stocks, it’s worth it as costs of investing are lower than in RE, you will have maintenance costs and your mortgage can increase along with other headaches so best to think twice before biting the bullet.
Buy. You can sell it or if you pay it off fast, you can save thousands a month and peace of mind.
Only buy if there’s a way for you to rent out a suite or rent out a room. At least that’s what I’d do.
I’m 24, I just hit 105k net worth last month.
My investment portfolio is only $800, lol. Most of my net worth is tied up in my house & 401k.
However, my goal was a house. Now my goal is to build my investments. Just feels like I’m still behind, regardless of owning my own house & having a decent start to retirement.
$250k by 29 is insane lol, that's limited to single tech workers
I didn't start tracking my net worth to my early 30s. But i would estimate between retirement and equity in my house i was around 200k at 29 years old. This with only a slightly above average salary.
I’m the same as Josiah. Didn’t start tracking til a couple years ago. I’m 37 now closing on a mil in NW.
@@JosiahK555 Holy hell! What did you do for a living if you don’t mind my asking
Nope. I’m on track for it in the Uk where salaries are lower. Fairly average job. If Americans stayed at home and didn’t bankrupt themselves with education fees and car finance I think it’d be so much easier.
Edit: The above advice goes for anyone in the west, but it seems to be more common in American culture.
@@Malitubee computer programmer. At 29 i was probably making almost 60k started at 22 as an intern for much lower. I drove a20 year old car and got a modest house. Mortgage was the only debt. I'm now 35 and debt free. Married and net worth of almost 700k.
Im 23 with 26.5k net worth 🙂
Hoping to have it up to 100k end of 2025. 2024 i started with nothing. Im getting there. Lets see how it goes!
44 year old physician here. Net worth more than $1.2 mil (cash) and a house in California that is almost paid off since I bought it before the pandemic and my interest rate is fixed at 2%. I don't really plan on retiring. No kids, no spouse so I'm pretty comfortable where I am. I can take vacations when and where and for how long I want. If anything I will buy a house overseas in the beaches of the Philippines and vacation there every so often. My point is that everyone has their own goal and my goal is certainly to NOT stop working and curl up in a corner somewhere. I love my work and am pretty passionate about it. I'm very lucky in that regard.
Thank YOU! It sounds so depressing when he alludes to retirement in 10 - 20 years from the age of 40! To do what?
@@Polkadot2 the hardest part is finding a balance of what you want to do and what is financially secure. Vacations and idle time can be re energizing and necessary, but the plan of retiring and “doing nothing” can be detrimental. You can only travel for so long. Family and time are key.
Very helpful video I never subscribe or like videos and did on yours. I’m 34 years old, self employed making around $600k/year, no debt besides my mortgage, live in a 3plex where tenants pay for my mortgage and with a net worth of around $2M and I thought I wasn’t doing good. That said, we can always do better!
neat breakdown Big H
Let’s get a turtle video like this!! 🐢
I'm finding this video really helpful and useful. I even shared it. That said, talking about retiring around 60 with these numbers feels SO outdated today and seems as though in 26 years when I hit 60 it will be utterly irrelevant. Good targets nonetheless, but I expect to be joyfully earning income well past 60.
It was also a bit odd that for every age range we discussed the top of the range. 20's "where we should be by 29", 30's "where we should be by 39", but then at 60's it was "where we should be at 60" (rather than at 69)
My wife and I are 25 and are on the brink of a $400k net worth. I was able to buy a house in 2020 right before shtf. That accounts for about half.
The other half is discipline and hard work. Listening to good influences like Humphrey, Graham, and Ramsey makes a difference if you follow through. If you’re reading this, you can do it too! It won’t be as fast as we have been lucky but your hard work will pay off.
As for the goals he recommends: We’re saving 20%, only have a mortgage for debt, and plan on increasing our income through rentals. Like I said, Humphrey gives good advice. Listen to him.
If the value of your house is 400k and you still owe 350k in mortgage payments, your net worth is 50k
@ house is $330 owe $108. Were more conservative when we tie it into our net worth estimate
@ also, your net worth isn’t just real estate, it’s also the money you have. Over $100k of our new worth is in the market or in savings. About $200 is the equity in the house. About $70k in valuables: cars, tools, firearms, etc.
@@Paracorder I’m just struggling to believe that those are real numbers. I thought either you are not saying something important (like having started from a heritage), laying, or not good in calculations.
@@ananasshow definitely understandable. Like I said we were very lucky with the house. When I left college my parents were very kind and gave me a $10k gift for the down payment and renovations. Our house was a foreclosed pos. Then the housing crisis started.
About $25k was from accident payment injuries.
Right now we’re putting away $2.5-3k/m into a high yield savings account and in 2 years (hopefully) will be able to pay off the mortgage. Certainly depends on how much I’m able to work as I’m hourly (currently looking at back surgery relating to on if the accidents) and about 40% of my income comes from OT. I work a very seasonal job and work 80h/w in the summer a this time of year (Jan when writing this) I’m at about 40-60 week dependent.
When I bought the house I was making $1200/m and the mortgage was about $1000. Certainly not a great situation but luckily it turned out well. That instilled a lot of discipline in me. I remember when I finally had $10k and the relief that came with being able to afford a furnace if it went out. Last year I worked on changing my mindset from scarcity to abundance and started budgeting this year. That made me realize we could payoff the mortgage in just a few years instead of 30.
To recap about $35k was not our doing. While $35k is not as much to us now, a few years ago when we were fresh out of college it provided a much needed buffer. We never actually used the money but it was more the emotional benefit of having it there.
Not sure if I’ve convinced you but maybe there’s something of use to someone else in there.
Well well well above the average for 20s as a 24 year old, good to see updated numbers!