Average Net Worth of a 20 Year Old! (2024 Edition)
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- Опубліковано 8 лют 2025
- The goal in your 20s is pretty simple: you want to get more in the “own” column than the “owe” column. 80% of personal finance is behavioral, and if you can build good financial habits starting in your 20s, you will set yourself up for success in the future!
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![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
I’m 22 years old and I am so grateful for finding your channel. Really changed my perspective on my future. Thank you guys so much!
I started at 29 and am 35 now but wish I started at 22.. Used to think a grand in my savings was great. It'll pay off and you'll be ahead of most everyone around you in just a few years time
The decisions I made at 22 are the reason I'm still here at 35. Good on you and keep at it.
Im in my 60's. Outstanding advice for 20 year olds! Spot on. I wish more could hear it. Ive been teaching my two sons these same concepts for years. One is 30 and one is 23. They both are doing it right.
Love you guys I’m 23 and I love the advice! My net worth currently is $2500 I’m going to get to $7000 by the end of this year !
23 and mine is -$40,000😂
You got this my friend, I'm 26 years old and saving consistently and diligently has been incredibly crucial for my journey. Good luck!
I’m 23 and started adding to my 401k 7 months ago. 17% +3% match and I’m already at 5,500$
why contribute more than the match?
@@y.w.9925contributing to pre and post tax is a great way to set up how much in taxes you pay during retirement. You can effectively (and literally) control your tax bill.
@@y.w.9925 I live with my mother and she doesn’t charge me to live in her house
@@y.w.9925401k contributions are taxed when you pull money from the account, you can enjoy decades of growth before you have to pay taxes on the contributions
@@y.w.9925why not? More money saved will amplify the compound interest, which will lead to a larger retirement account.
29 and saved 29.75% of my take home income in 2023
Fastest you can get to a $100,000 in retirement the better.
Still $10k short of that goal but i can see the finish line
What percent of net worth should be in a retirement account?
Hey guys, starting at 30! Would love a video like this for starting at 30 in 2024!
They have a full video for each age group
They just only clipped the 20s for now
Question . coming up on 65 years old. Time to start looking at the Distribution stage of retirement. With an IRA, ROTH IRA and a smaller inherent IRA. To day that value is just over 1,000,000 . The value is bouncing a little over and under that benchmark. What portfolio do you recommend. Planning to work to between 67-70. At least that's the plan.
Please double check your math and stop saying that these illustrations assume a decreasing rate of return. The results assume a 10% annual rate of return that never decreases.
I’ve emailed them before about this issue
What is the difference between financial assets and net worth? Is financial assests just what you have in retirement/stock market?
Yeah pretty much, so Savings, Checking, Retirement, and Investments. It does not include things like Car, Home, Belongings, etc
Net worth is a measurement of financial wealth by determining the difference between of your financial assets and your financial liabilities. A simple way to think about it is what you own minus what you owe.
Troll Data: in 40 years, $1,000,000 will equal roughly $306,500 in today’s dollar (assuming an average of 3% annual inflation)
This is one reason why Brian recommends a 25% savings rate over the 10-15% other investors recommend
Where else do I save my money other than Roth IRA. I can’t do 25% or else I would go over. Do I do a tax investment like Robinhood? Or what. My employer doesn’t offer 401k so that’s a no for me
Standard brokerage account, ideally by one of the big companies like Vanguard, fidelity, etc. low cost index funds @@thedaumworld
@@thedaumworldyou can open up a traditional IRA as well and contribute up to around $20,000 a year into that. Max out the ROTH IRA first and then fill up the traditional IRA
@@griffinmead934 I think you can’t do that? Both IRA accounts are one. Just different tax
1mil 50 years ago took you a lot further than it’ll take you today, and we can only assume per the trend, that 1mil in 50 years will be worth even less
Did I see that correctly? This $1 BEER cost me $88!?!?!?!
Opportunity cost of $88 😂
The Money Guy team made their formula more sophisticated than needed. 10 + Years til 40 is the same as Years til 50.
Still much better than the millionaire next door formula for young earners. TMG scale doesn’t give absurd numbers to people who haven’t even earned what their expected wealth should be.
Depends on your age lol
Im 20 thank u man
Basically net worth observation in the 20s.:
20: Has a car and some money in the bank for general expenses.
25: Has a more expensive car, some money in retirement plans.
29 Has a car, house and money in a retirement plan.
Do you guys feel a 24 y/o should have an aggressive or conservative roth ira strategy?
Just pick a target date retirement fund if you're unsure, otherwise index funds like an S&P 500 fund. Don't go into anything really risky like single stocks, but you also have several decades for growth, so I wouldn't be investing in something as conservative as bonds yet.
Aggressive, i started at 19 and have $40k at 23, my best performing funds have been FNCMX, FNILX, and FSPGX, all cheap fidelity funds with low management fees, i would start there
Nothing wrong with aggressive funds, but keep single stocks to a small percentage unless you have disposable income
Thank you!!@@cooleobrad
I appreciate your help my man!!@@genzlegacy7988
80k$ behind to where I should be, I have a long journey ahead of me as a 27year old
Jokes aside, how about people in some 3rd world countries whose income is only 350 dollars a month, and that's the minimum wage for like undergraduate on my country capital. How much do you suggest I should save?
Also, most of my place in my country wages are only 200$/month with rent cost half of that. How much do you suggest we should save because hearing you guys talk about how easy it is people in their 20s should save 100$/month is downright unrealistic. I guess people who never know hardship have it easier.
This show is directed towards US based people. I think you'd need to find a show specific to your country
They generally talk about percentages of income more than actual dollar amounts. But if you are as poor as you are saying, I’m surprised you can even afford the internet or device to watch these videos?
People on minimum wage dont save in the us either, as shown by the median liquid net worth in the full episode
This is intended for Americans.
You would follow their FOO and just invest a percentage of income. Though the problem for you will be how you invest since US equities probably cost extra to invest in.
The same principles can work for you too. You need to take into account the cost of living in your country. Don't get too hung up on exact numbers.
AMD, U, RBLX, and AAL 🎉🎉🎉
4:55 Trolling? Because of differing thought lines? Brian, are you really that arrogant?
It’s not different thought lines. It’s literally ignoring the math and facts
@@thedaumworldSpeaking of math.. their math (or at least the assumptions they claim are represented in their math) is wrong. The illustrations always say that they assume a decreasing rate of return of 0.1% per year, but that is false. The results shown are only if you retain that 10% over the entire life of the investment, never decreasing.