Average Income by Age (and What to Do With It)
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- Опубліковано 28 сер 2024
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About this episode:
Think you're not earning enough for financial peace? Think again. In this episode, I’m breaking down how you can feel confident in your finances with any paycheck size and sharing the key to leveraging your income as your greatest wealth-building tool.
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One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Just research the name Annette Christine Conte . You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.
It's impressive how much you saved during your working years, a feat not many achieve in a lifetime. Now that you're retired and rely on your investments, it's wise to redistribute your capital to mitigate risks during market fluctuations. Consulting a financial advisor can help simplify this process.
Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
My CFA ’RACHEL SARAH PARRISH’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
Loved that you shared "you're made in the image of God"! and your income does not define you. Amen!
I gotta tell these people the truth 💪🏼
Amen 🙏🏾@@GeorgeKamel
Went from living with my parents going to community college to being debt free earning 100-115k five years later. So much of it was luck and just saying “yes” to opportunities I wasn’t even looking for. You don’t know what your future holds! Hindsight is 20/20, but when you’re in your ‘building’ phase, you may feel like a failure because you’re lost. Be open to what opportunities life throws at you. It’ll change your income, but more importantly, it’ll change your mindset
Congratulations, what did you major in?
@@brayTraps thank you, BA in Finance
When I started investing last year, I ---avoided significant mistakes. I've focused on investing modest sums in stable businesses for the long term. If stocks perform well, I hold onto them; otherwise, I reinvest losses into profits. Recently, I made $9.5k from a $4k investment in NVIDIA....
Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains…**** might not be a lot but i'm financially secure and that's fine by me.
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Due to my demanding ......job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions----. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. So yes i think every investor should consider a similar approach.
***
Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains…--- might not be a lot but i'm financially secure and that's fine by me.
....
...
Can you share details of your advisor??? ....I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
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*GRISELDA ELENA JEMMOTT*
is her name,You are most likely to find more info when you look her up
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
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 to you using their service?
Deborah Lynn Dilling is the licensed advisor I use.Just research the name. You'd find necessary details to work with to set up an appointment
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
pls how can I reach this expert, I need someone to help me manage my portfolio
'Tracy Annette Webb' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
There shouldn't be any sort of pressure on how much you have at a certain age or other metrics , as long as you have that balance which is save and invest, in life you should be good. A good saving discipline and getting profitable assets to invest in brought me this far to having a 7 figure portfolio. also with my FA handling my investments and ensuring i stay above the market.
That’s some good values. sounds like you got something going for you
please can i get your consultants info? or should i drop mine for a pm ?
@@simonomilan she's Dianne Sarah Olson by name. please do your own research to see if she suits your goals.
@@MargotCrest did a quick search and found her webpage. I must say her resume is pretty impressive.. will be writing her too
After seeing this I’m so happy and blessed to say I’m in the 90th percentile for my age. I’m 23 and this year I’ll be shy of 6 figures as a mechanic. From Dave and your teachings I save as much as I can to move out of my parents house at the end of the year
As long as things are amiable, I’d live with them as long as possible! Not paying rent/mortgage payments and instead investing that money is so pivotal! I lived at home until I was 24. I finally made over 50k/yr with a raise and could afford to move out, I did and then was paycheck to paycheck for a couple years before I could get my income up and had no margin. I still forced myself to invest 10% of my paycheck, but it was very tight. I made less living at home, but had way less stress and enjoyed my life a lot more. I am doing well now financially, but only because of God’s favor on my life. Moving out with a massive margin of cash is definitely recommended.
I’m 35 yrs old and I earn $95,000 per year as a chemical tanker driver. I knew i was doing well but didn’t know I’d be in the 75th percentile. 🙂
25 making $61,000 in internal audit - same camp here! It's still pretty tight being a sole provider with a mortgage and a newborn, but we've just about got our 3 month fund built and are on track to have all debts >6% paid off within the next two years!
33 y/o physician here making 600k, paid off my student loan debt back in fellowship and reached millionaire status my first yea as an attending.
@@Vazcov1609 yeah ummm.... thats totally different but thanks (eyeroll)
Barely 50th percentile, 13 years in a manual labor job and I wish I could retire, my body is over it.. but it's hard to see the light at the end of the tunnel. I'm amazed at some of the staggering amounts of money people make and sometimes wonder what it's like to be in others' shoes. On the other hand, I spent the last 5 years digging myself completely out of debt and I am much happier and can breathe easier, at least I have that. Good job to you high earners!
Let's be perfectly honest. My income has significantly reduced the necessity for me to be good at managing my money responsibly. I haven't been throwing it around at new cars, giant houses, and European vacations, but my expense-to-income ratio has been so low I haven't needed to worry about penny pinching. It is much harder for someone to live debt free and invest for retirement with $50k a year than $150k a year. Like night and day different lives.
Agreed. The only real way to get out of debt is just to make more money, while simultaneously learn how to spend less money. If you only do one or the other, it'll be a long time before you can go "debt free"
Well if the 150k waste all their money and 50k saves 10k
I’m above the 90th percentile at 36. But debt is draining that. Will have everything paid off by 4/2026 and my house paid off 3years later. Embrace the grind.
Doctors?
@@OscarYourFavoriteMexican No sir. 2 car notes, personal loans, IVF and medical bills, new roof, and student loans. I am a registered nurse. I currently work 7 days a week. Wife is working prn from home.
George! I’m 29, debt free and just paid off my mortgage. Going to use the extra money I’m saving not having a house payment to travel because I kept putting that off to get out of debt.
33 making 130-140k/yr and i still feel like its not enough. 5 years ago it would have felt a lot better earning this much. Now it feels like making 90-100k/year did 5 years ago 😮💨
I'm 35, making 70k. I have a savings account with 18 months worth of bills saved back. A retirement savings I'm happy with, a home that I make extra payments on. I have hobbies and take a vacation once a year. And zero credit card debt. I can't imagine how easy life would be with double the spending power.
depends where you live, but is it lifestyle creep or the messy middle? Raising a family is also expensive I would imagine.
@@Xerith97 I live in the Lehigh valley(PA) and this area has been one of the fastest growing parts of the country for years now so the cost of living has increased quite a bit. I also have no debt, 70k in cash in an HYSA, Max my Roth IRA and put 12% towards my 401k after match so I'm not spending beyond my means.
By no means am I struggling but I also split rent with 2 other people. That being said the typical home around me that isn't old and outdated is easily 425k+ which means 100k as a 20% down payment. I've been saving for years and I feel like the rate at which I can save is being outpaced by home price increases so I feel like I'm going nowhere.
@@kevo212definitely not lifestyle creep. I live more or less how I've been living since my starting salary of 50k 6 years ago.
@@derekwright5722 Sounds like we are in a similar "place" I just went with an outdated home (built 1960), In southern Ohio.
Man hard work pays off. Just turned 40.
In the last few years we went from a combined income of $110k (50th percentile) to $330k (90th percentile) this year. I earned a couple promotions over the last few years and my wife graduated with her Nurse Practitioner. We'll be debt free in a couple months, then living on take home of $80k and saving and investing the rest to push to $1 million invested outside retirement before our term life insurance expires at age 47.
We are so excited about our debt free future.. it will be awesome.
Took us almost 20 years to get here, but it's worth it.
Crazy because I’m 19 making 120k with a car I own an income producing rental property, still living with my parents and If I started paying rent or a mortgage I would be screwed and I’d have nothing left over after monthly expenses.
Good job! Are you helping your folks with rent or just living off your parents until you turn 32.
Damn. Feels good knowing I’m doing so much better than my peers at my age. Makes me feel a lot better about my situation
I’m a 34 year old making about 105k-110k a year. My wife makes about 72k a year. Got 2 vehicles worth over 50k and a house worth almost $200k. Never thought I would be doing so well in life. Just about 5 years ago I was only making about 35k a year. Never turn down opportunities that come your way. I fell into a good job. And plan on retiring there.
Thank you George for you tips. Im on baby step 2 and destroying debt as much as i can. God bless
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
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 surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
I have been struggling with stocks and forex since 2020 making loses everytime. I am strungling financially and am about to give up. Please please can someone reach for me and help me with trading please.I will appreciate it. Thankyou
Most people don't understand the concept of "buying the dip" buying the dip is all about buying digital assets when their prices are down and selling off when the price rises.
All We need is the right advice on how to invest in crypto we will be set for life
Yes I agree with you on that. I was once a holder with about 3BTC, 7ETH and $8000 worth of lite coin but now after investingl have about 17BTC and 21 ETH. Glad I got into crypto, talk about a dream job.😊😊
From $10K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
My advice to anyone holding cryptocurrency right now is to invest it and earn upto 80 times of the initial capitals.
We are at the paycheck to paycheck part of our life, or it seems so. We do save 20% of our income in a 403B retirement account (24% if you count our employers part) and another 5% in savings. After that we live paycheck to paycheck. We are somewhere between the 75% and the 90%.
Getting a new job right now. I think I’m ahead of my age group by quite a bit and behind on savings by more than a bit. Got work to do. Time to show the cheetah the Gazelle
Omgggg i should’ve subscribed sooner!!! These edits are everything 😂❤
I know one thing for sure, starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
Agreed! Getting a head start on building wealth is crucial, and having a solid strategy is key, personally I think having a coach is the smartest move in today's stock market.
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my 300k stock portfolio
There are strategies that can yield solid gains in any economic situation, typically implemented by a portfolio strategist with a lot of experience. My friend introduced me to a financial advisor in 2022 and even though I was skeptical, I went on. I finally was making enough monthly dividend to quit my soulless job and pursue my dream
Most folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve not with standing inflation, from 275k to 750k
Talking about advisors, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks.
Should break this down even more by states
Man, your videos are so enjoyable to watch, I can't just listen to them while I am doing something else. I have to stop and watch the videos 🙂😃
California here, none of these averages or the Dave Ramsey math applies to us. Avg home price is over 1 million…
Hahaha yes. I’m from Miami and housing here is starting to look a lot like New York and California. 600k for a starter home is crazy.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Katherine Miller.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Katherine Miller 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 was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
Well, guess I am well underpaid, but I am pretty happy with my life.
Sometimes those larger paychecks come with longer days and weeks, greater stress, etc. If you’re happy with your life but your income is below the average for up it age, you may very well be earning a competitive rate for what you do.
Yay percentiles!!!! I'm going to use this video in my middle school math class (Christian school) when we get to the lesson about box and whisker plots with percentiles and median.
Oh man I miss a good box and whisker plot.
Comparison videos are fun, but anyone can improve their own situation just by following the proven financial management steps. Spend less and save more.
This is great info, George! Hope everyone listens to this!
Loved the "Roll Tide, " George! 👍😆🐘
Every time I watch one of these videos over the past decade, it makes me realize how terrible HP/HPE was compensating me.
Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over $2.8million.
@@joshbarney114 I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
90th percentile in my age group just from staying focused, going to school, and taking advantage of my opportunities.
Somewhere between the 75 and 90th percentile. I'm still in the same job I started with as an inturn 12 years ago. Master your job, learn new skills and make yourself valuable
I think skilled trades could be considered a short cut to that 90th percentile nowadays. It's how I got to it.
Ya but do you only work 40 hours.
I'm 54 now. I feel for the younger people. High interest rates and student debt. It's probably hard for them to save .
I'm 32 and just starting school. I've been on disability for pretty much all my adult life and unable to work. If I manage to handle school, I'll try working again. I'm starting late compared to others but I also have a really supportive family and partner. I'm in a very lucky position all things considered. The delay in doing all the normal stuff that I would have done in my 20s is that I have a better understanding of myself, the world and my goals. in 4 years I'll have a degree in a field that pays well that I'm interested in with lots of options. If you're in a tough spot, keep on going, you never know when things will get better, even if you don't expect them to
Yep! Just keep pushing forward. There's really no timeline. But sounds like you have an exciting future ahead. 😁
I kinda had a similar delay. I went through a lot of physical trauma in my 20s. I mean I probably could have done better. Just survival was more important back then than thriving. So I didn't really start my career until I was almost 30.
Since I got my first job I have been buying at least 1 share of SPY every week of my life. Wealth building is as simple as that
$550 ish a week ?
@@d1clown111 a year ago it was like 300 per week
@@d1clown111 a year ago it was $300 per week, next year it will probably be $600 per week
Blessed to say I’m in the 90% earning percentile. However just finally bought our first house!
Im 22. I make $28.68/hr which comes out to $60k/yr but I work OT so YTD I’m at $42k. I also live with my parents but I barely started getting my shit in check cuz of all these financial videos I’ve been watching. Thankfully I was already investing into my 401K for the passed 2yrs cuz of my job so ig I got a $37k head start. I brought down my 401K contribution from 15% to 6% which my employer also matched at 6% and started using that extra money to contribute $583.34/mo into my 401K using S&P 500 and Nvidia. And $1.2k/mo into my emergency fund earning 4.6% APY. Ima continue doing this and kind of start taking my spending habits using the money i got leftover. This month my spending is high tho cuz im going to Mexico and bought things that weren’t necessary but i was still able to contribute the same amount to my accounts.
Wow I didn’t realize average incomes were so low. Feeling grateful for being 41 earning 1.9x the average of the 82k a year average.
I saw an interesting video on Patrick Boylas yt channel titled “ are you the 1%”. If you earn 100k or more in the United States then you’re in the 1% of world wide wealth!
29 years old making $124,000 every six months (I work 60 days on and off) as a merchant mariner woohoo 90% plus group! Very happy to see I’m doing well. So that’s six months of money saved via not buying food, clothing, going out, random shopping.
Gotta give @George Kamel a lot of credit on this video, reviewing INDIVIDUAL incomes. Somehow over the past 2 decades, the income metric has morphed from "individual" to "household" income, meaning 2 or more. Which leads to an erroneous comparisons, and a misunderstanding for the younger generations.
Does this only include income from working? My income from my job puts me a little above the 50th percentile, but I’m over the 75th percentile if it includes investment income.
I only made $20,000 when I was in my 20's and 30's
I just rewatched Cool Runnings last month. Now I need a Mighty Ducks reference from you! 🙌🏾 🦆 🏒
Scratch that. 4 ads is wild
I've found that having a budget doesn't help me, I still feel like I don't know what I'm doing. I like the 50/20/30 rule. 50% expenses, 20% saves, 30% whatever I want.
I’m 19 and make $30 an hour but am looking into some internships that could get me to $50-$100 an hour please pray for me you guys that God matches me with the right jobs!
Great video. I was getting a little ticked off that I was stuck at making $40k at age 32 up until last year. But happy to now be making $121k+ at age 33! Time to play catch up.
Come for the financial literacy topics, stay for the memes
Help me find a job 😢 . I didn’t get your advice on my call since you were cut off and spoken over by Ken
Aw Ray, this comment made me laugh!! I hope George sees your comment and I pray God blesses you with an *amazing* job! Don’t give up hope and keep putting yourself out there.
27yo 90th percentile enneagram 3 here lol… going to make 100k+ for the first time this year!
I would like to see these statistics further elaborated on in a study. It would be more intriguing to see if a super majority of people in the 50th and 75th percentile live in excessively more expensive areas as they go up, making it to where their financial situations are actually equal. On that same note, I would like to see the average hours worked for each category, I also feel like it’s likely that the 25th percentile has a much lower average hours worked. It would be interesting to see if statistically we could see that out of these percentiles, everything is pretty darn even across the board until you hit the wealthy.
Hey!
Hey
Hi
Hello there!
26 and 88k
Those numbers are really interesting to get a feeling for people who live in the US. For me, who doesn't it's just a "nice to know".
For me personally, I would finde such a number crunch very interesting for a few countries, lets say:
- USA
- England
- Switzerland
- Japan
- Australia
Just for an example and then also give a relative feeling for the "average cost of living" so the numbers of income gets a relativity to each other.
Have a good one and until next time.
3 ads is wild
Been working really hard just to be in what looks like the 25 percentile. Survival can be hard…
I recently sold my condo for $400k and i want to invest the money in the stock market. However, it appears the market is at an all-time high. Should I invest elsewhere or wait for a market correction?
Looking at thr title I'm halfway expecting to see something like "newborn to toddler, you should be making qn average of $150000 a year. Do note this is a result of several children getting multi million dollar marketing deals with the youtube channel their parents made, so the data may be skewed."
Okay let's watch the video!
I’m making six figures at 24 and I’m scared of investing at the moment because the economy seems like it’s near the brink of a reversal. Besides a HYSA (already have one), what should I be investing in? I currently don’t have a 401k or a Roth IRA, but will be opening one with the company I work for soon.
I'm 21 with a 6 figure job that pays for all my living expenses. I already know a lot about finances and I'm very good at saving money, but any advice on what to do with that much money so young would be appreciated
He had me at “ROLL TIDE”❤
36, Single, No Kids, No Investments. 240k+ Year.
One thing I learned, Learn Something New Everyday, When You Find Something You Like, Get Good At It. End Result Will Pay Off.
Biggest Thing You Can Do, Have Multiple Incomes. Live Way Below Your Means, Stay Humble 🙌
I'm 27, married (and have a toddler), and have never made more than 40k in a year. We live pretty primitively at the moment and have been contributing to retirement for a few years now and thankfully we can at least save a little bit but i really need to up my income.
I never went to college or anything though and I have hit the ceiling for a laborer in my trades so I need to figure something else out.
I’m in the 90th percentile but even though I told myself I wouldn’t let it happen… lifestyle creep happened. Going to fix it ASAP though.
Love the content and energy but all the ads… really cramming them in 🙈
We started out in the 25th percentile. But with promotions, moving between companies (not a job hopper, but I did change a few times) we wound up solidly in the 90th percentile. So we've done ok. But we had to do a lot of back end investing as we didn't have a lot of money to invest when we were younger. We did invest, but when you're making $30K in 1990's dollars you're not going to be investing bucket loads of money. So avoiding lifestyle creep is essential if like us you need to make up for lost time. Due to compounding those early dollars are mighty expensive to replace a couple decades later.
35 - didn’t go to college and make $127k per year. Although I’m not 90% I’m happy with it. I still own 1 million in real estate and have a 500k net worth. It can be done!
Just a clarifying question: When you speak about "Average Income" for different percentiles - are you referring to pretax or post-tax income?
I felt like I was not doing very well because I am only making $50k at 22. Thanks for sharing!
33 in 75th percentile and I’m not living like it
Started a bit late, but I'm putting a combined 24% in now.
my wife and i bring home 71k annually together and we’re 22 i couldn’t imagine making any less cause we’re living paycheck to paycheck still..
When he talks about income, are those figures before or after taxes?
I am 24 live in a HCOL area and make 100k , does not feel like over 90 percentile
90% club! Yaaaaaay!🎉
Yaaaaaay 🎉
Feels nice as a 25 year old making $95K as a civil engineer in TN.
I really don’t think these stats are true. People 30-42 make an average of like 100,000. Maybe the median is like 50k but averages are usually a lot higher than that
Depends where you live. Think this an avg across the board.
I have a question. What happens to my investments if the U.S. Dollar crashes?
Any advice for those younger than those age groups? I’m 16 with a part time job, and I’m wondering if I should be doing anything specific with my money
I think a lot of these numbers are going to skew upwards when the next bump for salaried employees hit in January. Especially for the younger people as it hits the 58k mark
I'm curious, for someone with around $50,000 to invest, how would you recommend we enter the market? I am looking study some traders and copy their strategy rather than investing myself and losing money emotionally. What's your take on this approach?
It's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
Are these household income levels or individual?
Omg I love so much his videos 😂❤💰📈
2:26 🤞🏾💯
Are these values before or after taxes?
I'm barely in the 90th percentile if I include all my other income and dividends. I still live with my parents though, because even if I am at the 90th percentile, I can't afford to buy a house, and I don't really want to rent a place.
I forget I live in a poor area until I see the average income. Im 30 and I’m just under 80k but that is extremely good in my area. Im a behavior analyst. Places like California pay way better but cost of living is nuts. They are screwing up the average
George, what do you think about MARCUS??
Ok, above the 90th, niceee
29 making 120+k here 🎉
Crazy to think that just 3 years ago I was making 15/hr