Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
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.
4 years ago, I was living paycheck to paycheck, working 40 hours a week. I was a high school dropout with a GED and had a 489 credit score, along with an eviction, repossession, and collections. I got into real estate but encountered unqualified clients who couldn't qualify for a mortgage due to their credit. I found this home-based business here on UA-cam, and it just made sense.
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.
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!
My wife and I have been married since we were 19/20. She grew up in poverty and I grew up chronically homeless. We had a huge negative net worth for many years. And we had kids almost immediately (no regrets, but certainly ill advised!). We are homeowners now, have a positive net worth, and are making rapid progress. It's actually been fun to have kids along for the journey - they get to see the wealth being built, not just be born into it. I've started a business, a UA-cam channel, and it's hectic juggling everything - but I wouldn't have it any other way. Success is all but guaranteed if you consistently work at and are willing to do what it takes regardless of where you started.
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.
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
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.
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.
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
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!
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.
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.
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 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!
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.
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.
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
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 :).
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.
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!
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.
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.
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 ‘’Melissa Terri Swayne” 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.
The crypto market has been unfavorable for months and I keep losing my money selling-off during dips, I'm very scared of holding right now, how do you guys still make so much….?
Ms Racheal Campbell was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Racheal Campbell
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional .
She is my family's personal broker and also a personal broker in many families I'm United State, she's a licensed broker and a FINRA AGENT in United states
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.
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 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.
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
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.
What strikes me in this video is the fact that once you reach the high end/killing it column once, you don't need to contribute a penny to the portfolio anymore and you're almost guaranteed to hit the same mark for the next decade! Using the 'Killing It' column and assuming a 10 year horizon, it takes: 10% yearly rate of return from 250k to 660k (or 8% with 7k cash injected to the portfolio each year) 6.3% yearly from 660k to 1.24M 5.65% yearly from 1.24M to 2.18M 2.75% yearly from 2.18M to 2.87M I'm a Canadian who just turned 34yo sitting on a portfolio of 302k spread across various registered investments (TFSA, RRSP, LIRA) not including home equity. I've set aside maybe 10k in my children education fund. No debts except mortgage. Can't say I live a lavish life but I don't feel like I'm depriving myself of anything.
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
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’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.
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!
Great job. I’m lucky, just over 80k in stock market at 25 & starting a new finance job soon. Can’t wait to work on budget discipline & watching it grow more
@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 🙏🏻
I’m 47 and “killing it” which I attribute to: -started saving for college when I was 10, graduated debt free. -started saving for retirement at age 18 -bought my first house at 26 put a bunch of sweat equity in. -prioritized increasing savings rate with every raise, started at 10% and am now at 25%. -always bought used cheap cars and drove them forever -never had a cent of credit card debt -avoid lifestyle inflation and comparison with others.
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 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.
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.
@@Michael-ServantofJesusChrist I’m currently only able to save a few hundred dollars a month, and my net worth is about -40k. At this rate I’m not going to be able to payoff my debt for decades.
I was just like you when I was younger, keep working hard. You make the most money in your 30’s and 40’s. Don’t think whatever your life is now is forever.
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.
I’m 24 and have about $200k net worth. 180k in accounts and retirement, and a paid off truck worth about $25k $5k left in student loans with low interest, so I’m paying the minimum. Frugality is the way!!
383k at 26. Dropped out of CC after covid and have bought bitcoin everyday since 2017. Educated myself and can’t wait to spoil and travel with my future family!
Being allergic to debt and being on the right side of interest rates and compounding gains is a mental shift many people should take early if they want to build financial independence.
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.
Very obtainable net worths especially if you bought a house before the big inflation period. In my 30s and just the value my house took covers 200-300k
Im 42 with a family net worth exceeding 2M. I disagree that you shouldnt borrow equity from your home. In fact I used $200K of my primary home equity to start purchasing real estate in 2023. That $200K allowed me to increase my cash flow and start looking into more investment properties. You can borrow from your equity, but dont spend it on vacations, car payments, or credit card bills.
Leverage is very good when prices have increased like they have recently and especially post covid, but employing this same strategy in 2025 or in the late 2020s may have very different results, once an eventual national price correction hits. You made a calculated risk and it paid off. But of course, it could pay off, too. But being upside down on real estate is bad and if it happens with leveraged home equity debt, it is worse. That being said, how you used the money was much wiser than using it on fruitless spending with no upside potential.
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!
As they say, financial planning is geared to the individual and everyone is different. I am doing very poorly if you look at me on the surface. I dont own a home and I have only $170,000 saved and I am 62 and I am retiring in 15 days (forced due to medical). But here is the kicker, all my money is in Tesla stock (yes, I beleieve it will 10x in the next 5 years). In addition, I am going to receive a pension of $85K from the Canadian Government (Indexed), for the remainder of my life. So although it looks week or poor on the surface, I am quite comfortable in my position. Have a happy new year!
Didn't join the professional workforce until I was 29 years old. At that time I had a net worth of negative $35k. Now just in the median range in our 40s. That average net worth is mind boggling, it's 10x the median net worth. 🤯 Are we supposed to count an almost paid off mortgage or other assets into that?
I'm in my late 30s and still well below even the "low end" numbers, and that's counting the equity in a house we bought four years ago with a VERY lucky mortgage rate. My wife and I had a baby about a year ago and in the same time have lost a couple of relatives, and with others aging we've been estimating what kind of inheritance will be coming to us both in the short term and sometime in the next decade or two. We'll pretty easily go from not poor but also not 100% sure how every expense of a new family will come from to safely "killing it." Forget working hard for your entire career and saving carefully, or even getting lucky with some windfall investment gains; generational wealth is really the only way anyone gets rich.
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 Charlotte Miller for helping me achieve this
I'm celebrating a $30k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me
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 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
I am at the beginning of my "investment journey", planning to put $85,000 into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
The issue is people have the "I want to do it myself mentality" but are not equipped enough for a crash, hence getting burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020, just after the pandemic to date. Thanks to Caroline Suzan Olson, she has been the one managing my portfolio.
Caroline Suzan Olson is a renowned figure in her line of work. I recommend researching her credentials further. Just search her name in your browser. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Very much appreciated, just inputted Caroline Suzan Olson on the internet, spotted her consulting page ranked top and was able to schedule a call session. I've seen commentaries about advisors but not one looks this phenomenal.
I was sitting at 4M at 23 when I graduated from college, thanks to my family giving me a head start financially. 15 years later I’m still sitting around almost the same net worth. I completely wiped my liquid assets due to travel and partying. Thankfully my blunders were offset by real estate and equity appreciating. Yes I’m still above the median and extremely grateful but a good story that not everyone with family assistance is automatically successful. I am slowly turning things around and being less dependent on my provided wealth.
I’m 19 years old with a net worth of 30k while still working in a minimum wage job. Aiming to get 100k before 22. Started to learn about investing at the age of 15 but was finally able to do so at 18 and i think (?) i’m doing pretty good so far
Now that is really killing it. I had about 10k back in 1994 at age 20 working at minimum wage jobs. I use it up to go house buying, then real estate market went crazy for 15 years. Probably going into another crazy years again. Try to avoid big items like cars or homes.
28 year old $500k+ net worth. My secret? Own a rental property - live in one unit and rent out the other. This is called “house hacking”. This has made the biggest difference in my net worth the past 5 years.
Venturing into crypto as a newbie was very difficult due to lack of experience which resulted in losing funds...... But James werden,restored hope his a good man
Such a genuine personality!! He is really a good investment advisor. I was privileged to attend some of his seminars. That’s how I start my crypto investment.
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.
Learn about investing, and you'll get to a better place. Don't pay attention to these figures as I don't think they apply to the average person. And I also think that lots of people in the comments are flat out lying.
57 with $1M saved, no debt, no mortgage. Looking to retire in 6 months, working still at a less stressful job to cover health. I have a wife 5 years younger than me and a son that is just 14 years old that I need to cover. Living in NY and a reasonably good income, health coverage premiums are insane. Any ideas on how to address this problem a better way is welcome, but happy with the plan. So glad I started to save early. I only wish I saved more, but I do know I am in far better shape than most of my peers.
@teddyruxpin7876 Not sure what that means or what is your problem? Trying to turn it all political again? I am a legal immigrant with a legally gained citizenship. I follow all the laws and consider myself doing pretty well. Rude comment.
My wife and I are both 29, we are sitting at 287k of net worth . Mostly with our primary house and rental property of 200k in equity across both and the rest in retirement and HYSA. Really started last year on maxing out 401k. Going to keep it going strong from here on out!
Humphrey, as a bay area guy like yourself, I'm in my mid 30s and I'm already beyond the "killing it" category that you listed for folks in their 60s at currently a household 3M NW. Yet I can't afford a house here, my income is too low for a mortgage. 😂 What should I do next? Did I already graduate from your finance videos and its time to move on?
36 and we are already beyond killing it based on your chart. Its really about living below your means and trying to work towards a good paying job. We save alot but we feel we live a rich life.
I’m glad I listened to this video. I started behind only with only 20k in my car and 20k savings at 27, but since then I got an average job making 150k annually and started saving 80k per year after taxes. Now after 10 year, i’m on track with $700,000 net worth at 38 years old. I know it doesn’t sound like a lot but i’m very proud given most my friends and family live month-to-month and only have a couple hundred grand net worth after accounting for their debt. 😂😂😂
34 and 900k net worth. Doesn’t feel like killing it with the cost of living where I am. Buying a 4 bedroom house within a reasonable commute to my office is minimum $800k with current interest rates that’s like 4-5k a month 😮
Great video! But you talked about how a networth of $x in 20s would result in $y in your 60s due to compound interest. That sounds like all of your networth is in market investments. What if a big portion of your networth is tied to a mortgage or other asset that doesn't earn compound interest?
Thanks Humphrey! Hit $400k net worth last month at age 27. Doesn’t always feel like I’m killing it but glad to hear I am! How does one project the needed amount in retirement, should I project a 3% inflation rate each year?
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.
Just turned 28. I have a total of 550k. 150k in a 457b and 400k in real estate equity between my house and a duplex thanks to the last few years. Just bumped my 401k contribution up to 20%. Ill be eligible for a good pension at 42 as well. Hoping to truly retire in my 40's and just do a few housing flips to make a bit on the side and give myself some work.
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
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!!!
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.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Thanks to Mrs. Elizabeth Regina Nelsen's time in my life, which had a profound impact on me.
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.
4 years ago, I was living paycheck to paycheck, working 40 hours a week. I was a high school dropout with a GED and had a 489 credit score, along with an eviction, repossession, and collections. I got into real estate but encountered unqualified clients who couldn't qualify for a mortgage due to their credit. I found this home-based business here on UA-cam, and it just made sense.
Hit 140 yesterday. Fastest I’ve even 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.
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
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
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!
My wife and I have been married since we were 19/20. She grew up in poverty and I grew up chronically homeless. We had a huge negative net worth for many years. And we had kids almost immediately (no regrets, but certainly ill advised!). We are homeowners now, have a positive net worth, and are making rapid progress. It's actually been fun to have kids along for the journey - they get to see the wealth being built, not just be born into it. I've started a business, a UA-cam channel, and it's hectic juggling everything - but I wouldn't have it any other way. Success is all but guaranteed if you consistently work at and are willing to do what it takes regardless of where you started.
Best thing possible was probably you two having kids… nothing like children to give a man purpose in life.
Kudos on giving credit from where you are getting your numbers
of course
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.
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!!
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!
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!
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
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!
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.
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.
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 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!!
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
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.
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%.
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 🎉
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
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 :).
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?
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!
Hotline above replying now
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.
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.
Anything under 5 billion USD, no matter what age, is inadequate.
Sigma
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.
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 ‘’Melissa Terri Swayne” 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.
Thanks bud for keeping us financially Educated! Regardless of how bad it gets on the economy, I still make over $19,000 every single week...
The crypto market has been unfavorable for months and I keep losing my money selling-off during dips, I'm very scared of holding right now, how do you guys still make so much….?
Ms Racheal Campbell was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Racheal Campbell
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional .
She is my family's personal broker and also a personal broker in many families I'm United State, she's a licensed broker and a FINRA AGENT in United states
I Started with 5,000$ and Withdrew profits
89,000$
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?
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 used some techniques from that book to make money, and I can truly say I'm earning more now
great book!
$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.
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?
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 😂
What strikes me in this video is the fact that once you reach the high end/killing it column once, you don't need to contribute a penny to the portfolio anymore and you're almost guaranteed to hit the same mark for the next decade!
Using the 'Killing It' column and assuming a 10 year horizon, it takes:
10% yearly rate of return from 250k to 660k (or 8% with 7k cash injected to the portfolio each year)
6.3% yearly from 660k to 1.24M
5.65% yearly from 1.24M to 2.18M
2.75% yearly from 2.18M to 2.87M
I'm a Canadian who just turned 34yo sitting on a portfolio of 302k spread across various registered investments (TFSA, RRSP, LIRA) not including home equity. I've set aside maybe 10k in my children education fund. No debts except mortgage. Can't say I live a lavish life but I don't feel like I'm depriving myself of anything.
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
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’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.
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
Wow. I also am a bot. What a great recommendation. Thank you. I will get in touch.
Great job. I’m lucky, just over 80k in stock market at 25 & starting a new finance job soon. Can’t wait to work on budget discipline & watching it grow more
lol at people here thinking the original poster is real😂
Scammer.
Hubby & I are 48 and we are killing it! Wohoo🎉
Great video to start the year! ❤
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!
I’m 47 and “killing it” which I attribute to:
-started saving for college when I was 10, graduated debt free.
-started saving for retirement at age 18
-bought my first house at 26 put a bunch of sweat equity in.
-prioritized increasing savings rate with every raise, started at 10% and am now at 25%.
-always bought used cheap cars and drove them forever
-never had a cent of credit card debt
-avoid lifestyle inflation and comparison with others.
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.
This was a great video, thank you!
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.
Im 32 and sitting at 370k net worth.
Fiance 27, with a 180k net worth.
(She out earns me and is projected to out value me in
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.
Humphrey i am proud of you i believe in your age you already killing the goal for 50s. Congrats you made it enjoy it 👍🏻
neat breakdown Big H
Let’s get a turtle video like this!! 🐢
As a 24 year old, this video made me depressed.
Why is that? It isn't unattainable. It is about becoming disciplined when you are young. You can learn to enjoy life and be frugal at the same time.
@@Michael-ServantofJesusChrist I’m currently only able to save a few hundred dollars a month, and my net worth is about -40k. At this rate I’m not going to be able to payoff my debt for decades.
I was just like you when I was younger, keep working hard. You make the most money in your 30’s and 40’s. Don’t think whatever your life is now is forever.
you got 6 years till 30! You got this...increase income via education/skills then start scratching at that debt
You are so young. You've got so much damn time to catch up
Im 43 my partner 54. Net worth is almost 700 000, but we came to USA in 2016, even not citizen yet. God bless America.
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.
At 243k at 27.5. With a 80k salary. Been aggressive with investing and saving. Almost killing it!
I’m 24 and have about $200k net worth. 180k in accounts and retirement, and a paid off truck worth about $25k
$5k left in student loans with low interest, so I’m paying the minimum. Frugality is the way!!
💪
@@TaxinGigs you're killing it
what color is your bugatti tho?
383k at 26. Dropped out of CC after covid and have bought bitcoin everyday since 2017. Educated myself and can’t wait to spoil and travel with my future family!
Killing it
nice.
I’m 25 and have a net worth of $184k. Not quite killing it yet but working to save and hit the goal before my 30th birthday.
Nope, you are killing it. Maybe not if you live in high cost state like CA.
Great video. 53 years old and a net worth of $2.3 million
Being allergic to debt and being on the right side of interest rates and compounding gains is a mental shift many people should take early if they want to build financial independence.
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.
Very obtainable net worths especially if you bought a house before the big inflation period. In my 30s and just the value my house took covers 200-300k
Im 42 with a family net worth exceeding 2M. I disagree that you shouldnt borrow equity from your home. In fact I used $200K of my primary home equity to start purchasing real estate in 2023. That $200K allowed me to increase my cash flow and start looking into more investment properties. You can borrow from your equity, but dont spend it on vacations, car payments, or credit card bills.
Leverage is very good when prices have increased like they have recently and especially post covid, but employing this same strategy in 2025 or in the late 2020s may have very different results, once an eventual national price correction hits. You made a calculated risk and it paid off. But of course, it could pay off, too. But being upside down on real estate is bad and if it happens with leveraged home equity debt, it is worse. That being said, how you used the money was much wiser than using it on fruitless spending with no upside potential.
@@misterogerssupply and demand bud. Low supply right now, prices aren't coming down.
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!
28 now (turning 29 in 3 months) and have a net worth of 485k.
As they say, financial planning is geared to the individual and everyone is different. I am doing very poorly if you look at me on the surface. I dont own a home and I have only $170,000 saved and I am 62 and I am retiring in 15 days (forced due to medical). But here is the kicker, all my money is in Tesla stock (yes, I beleieve it will 10x in the next 5 years). In addition, I am going to receive a pension of $85K from the Canadian Government (Indexed), for the remainder of my life. So although it looks week or poor on the surface, I am quite comfortable in my position. Have a happy new year!
I'm 35 and have about 680k. Love the vids, keep up the good work my asian broski!
Didn't join the professional workforce until I was 29 years old. At that time I had a net worth of negative $35k. Now just in the median range in our 40s. That average net worth is mind boggling, it's 10x the median net worth. 🤯 Are we supposed to count an almost paid off mortgage or other assets into that?
I am 37 and I have $200k in retirement with $600k in mortgage debt on a house worth $880k.
Great job! Some day you’ll be a real boy
I'm in my late 30s and still well below even the "low end" numbers, and that's counting the equity in a house we bought four years ago with a VERY lucky mortgage rate. My wife and I had a baby about a year ago and in the same time have lost a couple of relatives, and with others aging we've been estimating what kind of inheritance will be coming to us both in the short term and sometime in the next decade or two. We'll pretty easily go from not poor but also not 100% sure how every expense of a new family will come from to safely "killing it."
Forget working hard for your entire career and saving carefully, or even getting lucky with some windfall investment gains; generational wealth is really the only way anyone gets rich.
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 Charlotte Miller for helping me achieve this
I'm celebrating a $30k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helped us a lot to pay up our bills.
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 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
Feeling pretty good about $300k at 28 - didn’t do anything crazy just maxed out retirement and house hacked
I am at the beginning of my "investment journey", planning to put $85,000 into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
The issue is people have the "I want to do it myself mentality" but are not equipped enough for a crash, hence getting burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020, just after the pandemic to date.
Thanks to Caroline Suzan Olson, she has been the one managing my portfolio.
Glad to have stumbled on this comment. Please, who is Caroline Suzan Olson that assists you, and if you don't mind, how do I get in touch with her?
Caroline Suzan Olson is a renowned figure in her line of work. I recommend researching her credentials further. Just search her name in your browser. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Very much appreciated, just inputted Caroline Suzan Olson on the internet, spotted her consulting page ranked top and was able to schedule a call session. I've seen commentaries about advisors but not one looks this phenomenal.
34 yo, $657k net worth. Thank you for the knowledge and encouragement!
I was sitting at 4M at 23 when I graduated from college, thanks to my family giving me a head start financially. 15 years later I’m still sitting around almost the same net worth. I completely wiped my liquid assets due to travel and partying. Thankfully my blunders were offset by real estate and equity appreciating. Yes I’m still above the median and extremely grateful but a good story that not everyone with family assistance is automatically successful. I am slowly turning things around and being less dependent on my provided wealth.
you are the problem
@@ItsOnPaper this is the internet, don't forget that everything is true.
Great video!
I’m 19 years old with a net worth of 30k while still working in a minimum wage job. Aiming to get 100k before 22. Started to learn about investing at the age of 15 but was finally able to do so at 18 and i think (?) i’m doing pretty good so far
Now that is really killing it. I had about 10k back in 1994 at age 20 working at minimum wage jobs. I use it up to go house buying, then real estate market went crazy for 15 years. Probably going into another crazy years again. Try to avoid big items like cars or homes.
Wife and I are age 30, worth about 450k. Zero debt except our mortgage and we don't live far from you Humphrey! Thank you for the great content.
28 year old $500k+ net worth.
My secret? Own a rental property - live in one unit and rent out the other. This is called “house hacking”. This has made the biggest difference in my net worth the past 5 years.
You do your own maintenance on your property?
Good man Humphrey
I’m favoured financially with Bitcoin ETFs,Thank you buddy.$63,700 biweekly profit regardless of how bad it gets on the economy
How please!? If it’s possible, I would appreciate if you show me how to go about it
Venturing into crypto as a newbie was very difficult due to lack of experience which resulted in losing funds...... But James werden,restored hope his a good man
I’m not here to converse for him to testify just for what I’m sure of,he’s trustworthy and best option ever seen.
Such a genuine personality!! He is really a good investment advisor. I was privileged to attend some of his seminars. That’s how I start my crypto investment.
James werden,, has really helped my life and entire family last year. May God inspire you more sir more grace I pray 🙏🏻🙏🏻🙏🏻
30 year old here, net worth is just over 1mil. However with inflation and childcare it doesn’t feel like I’m doing well. Childcare costs are crippling
Unless you have some absurd situation like a dozen plus kids in VHCOL city, you should be able to easily afford childcare with those numbers, but no one likes to pay costs are skyrocketing no matter what the wealth level. If one of your earners makes less than the childcare, it could be pragmatic for them to raise the children themselves instead, but with those numbers that is less likely, and it is not always possible or the desire of one of the parents to forgo a career.
Same. A bit over 5-6M$ net worth at 31 y.o., but still got financial anxiety.
I'm 35 and only at 17k. These videos always make me feel like I am never going to catch up.
It's hard to catch up when the value of investments grows exponentially while wages grow linearly
Don’t believe the videos you’re already ahead of
Bro, some folks are 17k in debt. You are doing well stick to the plan and keep grinding. 👍
lol at this point fart coin might actually be the only way 😂
Learn about investing, and you'll get to a better place. Don't pay attention to these figures as I don't think they apply to the average person. And I also think that lots of people in the comments are flat out lying.
57 with $1M saved, no debt, no mortgage. Looking to retire in 6 months, working still at a less stressful job to cover health. I have a wife 5 years younger than me and a son that is just 14 years old that I need to cover. Living in NY and a reasonably good income, health coverage premiums are insane. Any ideas on how to address this problem a better way is welcome, but happy with the plan. So glad I started to save early. I only wish I saved more, but I do know I am in far better shape than most of my peers.
42, immigrant. Arrived in this country with $100 in the pocket at 21. $400k net worth.
count your days
@teddyruxpin7876 Not sure what that means or what is your problem? Trying to turn it all political again? I am a legal immigrant with a legally gained citizenship. I follow all the laws and consider myself doing pretty well. Rude comment.
My wife and I are both 29, we are sitting at 287k of net worth . Mostly with our primary house and rental property of 200k in equity across both and the rest in retirement and HYSA. Really started last year on maxing out 401k. Going to keep it going strong from here on out!
Humphrey, as a bay area guy like yourself, I'm in my mid 30s and I'm already beyond the "killing it" category that you listed for folks in their 60s at currently a household 3M NW.
Yet I can't afford a house here, my income is too low for a mortgage. 😂 What should I do next?
Did I already graduate from your finance videos and its time to move on?
36 and we are already beyond killing it based on your chart. Its really about living below your means and trying to work towards a good paying job. We save alot but we feel we live a rich life.
i feel like you make this video every other month
I was thinking the same
sorry i had some new data and wanted to refresh... will be less repeats in 2025
He always adds a detail or two worth revisiting this topic.
@ you’re still awesome
I’m glad I listened to this video. I started behind only with only 20k in my car and 20k savings at 27, but since then I got an average job making 150k annually and started saving 80k per year after taxes.
Now after 10 year, i’m on track with $700,000 net worth at 38 years old. I know it doesn’t sound like a lot but i’m very proud given most my friends and family live month-to-month and only have a couple hundred grand net worth after accounting for their debt. 😂😂😂
Spotify to the moon
haha yes
34 and 900k net worth. Doesn’t feel like killing it with the cost of living where I am. Buying a 4 bedroom house within a reasonable commute to my office is minimum $800k with current interest rates that’s like 4-5k a month 😮
Great video! But you talked about how a networth of $x in 20s would result in $y in your 60s due to compound interest. That sounds like all of your networth is in market investments. What if a big portion of your networth is tied to a mortgage or other asset that doesn't earn compound interest?
Thanks Humphrey! Hit $400k net worth last month at age 27. Doesn’t always feel like I’m killing it but glad to hear I am! How does one project the needed amount in retirement, should I project a 3% inflation rate each year?
Sweet I’m killing it in my 30s!!! Consistency is everything in investing.
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.
Well well well above the average for 20s as a 24 year old, good to see updated numbers!
Just turned 28. I have a total of 550k. 150k in a 457b and 400k in real estate equity between my house and a duplex thanks to the last few years. Just bumped my 401k contribution up to 20%. Ill be eligible for a good pension at 42 as well. Hoping to truly retire in my 40's and just do a few housing flips to make a bit on the side and give myself some work.