What is your age and net worth?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

New P here, Ages 35,36, NW of $1.3 million, $300 of which is home equity. We were given $200k to help buy a place, but generally speaking, we both have been working since college graduation and saved saved saved. That means we have two incomes being saved for 14 years. We also paid off DH and my student loans in that time. Its been tight but I don't feel deprived.

This is interesting to me because we're 37 & 38, NW of $800k. If you strip out the $200k you didn't have to pony up for a DP and the $300k you wouldn't have without that gift, we're pretty much even. Except I've been working since I was 14 and save save saving.

It's nice that you "don't feel deprived," though.

PP here. It’s still expensive to live here and we have 2 kids and a third on the way. I’m not living large. That’s my point.

Just think how "not large" you'd have to live if you paid your own way.

Some of you posters are so annoying. We would be FINE if we had gotten no gift from the parents. We would have still be able to get a house in the neighborhood we live in but a bit smaller, we would have just 200-300 less saved. Yes, that is a lot, but I wouldn't have changed working hard or saving, so whats the difference?? It certainly helps, but my lifestyle hasn't changed. I don't even think i would feel like it would make that much difference because money is such a hedonistic treadmill. When I was 27 and saving, I though having X more money would make things better, and it doesn't. It just gives you more choices. 200k is A LOT but its not life changing. Again, the bulk of what we saved was from working and saving. I paid for my own college with scholarship, loans, and 3 jobs, and my husband paid for his own grad school too.

Yes, you got a life changing gift from your parents and continue posting about how it's not a big difference in your life. Yes, buying a house without having to furnish a down payment is life changing. Being able to pay off your loans while building equity because you didn't have to decide between the two is life changing. Being able to start a family that much sooner because you didn't have to save up for years is life changing. Being able to have a third kid in one of the most expensive cities in America is life changing. But you think it's NBD because you've "worked since college" -- who hasn't?

The idea that it's annoying to you when people notice how nonchalant you are about this unearned privilege is funny to me. Stay annoyed, princess.

Actually I worked through high school, and the gift again was late in life, so not sure ? why you are so wrapped around the axle. It wasn’t even from my family. The point is to respond to the PP that you CAN save big chunks by working and saving and not blowing it on vacations etc name your indulgence. Also, having a third kid is a blessing, not a pure financial decision because it’s never financially sane to have children!

There is no end to your obliviousness. the PP asked "Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?"

And your response was "we were given $200k to buy a house." And now you explain that actually, you were teaching PP a lesson about how anyone can do it through working hard and saving and not "blowing it on vacations."

Also a gift that you have already cashed in by 36 is not "late in life."

You are just an all-around ingrate, and I hope for your sake your in laws never see this side of you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

New P here, Ages 35,36, NW of $1.3 million, $300 of which is home equity. We were given $200k to help buy a place, but generally speaking, we both have been working since college graduation and saved saved saved. That means we have two incomes being saved for 14 years. We also paid off DH and my student loans in that time. Its been tight but I don't feel deprived.

This is interesting to me because we're 37 & 38, NW of $800k. If you strip out the $200k you didn't have to pony up for a DP and the $300k you wouldn't have without that gift, we're pretty much even. Except I've been working since I was 14 and save save saving.

It's nice that you "don't feel deprived," though.

PP here. It’s still expensive to live here and we have 2 kids and a third on the way. I’m not living large. That’s my point.

Just think how "not large" you'd have to live if you paid your own way.

Some of you posters are so annoying. We would be FINE if we had gotten no gift from the parents. We would have still be able to get a house in the neighborhood we live in but a bit smaller, we would have just 200-300 less saved. Yes, that is a lot, but I wouldn't have changed working hard or saving, so whats the difference?? It certainly helps, but my lifestyle hasn't changed. I don't even think i would feel like it would make that much difference because money is such a hedonistic treadmill. When I was 27 and saving, I though having X more money would make things better, and it doesn't. It just gives you more choices. 200k is A LOT but its not life changing. Again, the bulk of what we saved was from working and saving. I paid for my own college with scholarship, loans, and 3 jobs, and my husband paid for his own grad school too.

Yes, you got a life changing gift from your parents and continue posting about how it's not a big difference in your life. Yes, buying a house without having to furnish a down payment is life changing. Being able to pay off your loans while building equity because you didn't have to decide between the two is life changing. Being able to start a family that much sooner because you didn't have to save up for years is life changing. Being able to have a third kid in one of the most expensive cities in America is life changing. But you think it's NBD because you've "worked since college" -- who hasn't?

The idea that it's annoying to you when people notice how nonchalant you are about this unearned privilege is funny to me. Stay annoyed, princess.

Actually I worked through high school, and the gift again was late in life, so not sure ? why you are so wrapped around the axle. It wasn’t even from my family. The point is to respond to the PP that you CAN save big chunks by working and saving and not blowing it on vacations etc name your indulgence. Also, having a third kid is a blessing, not a pure financial decision because it’s never financially sane to have children!

There is no end to your obliviousness. the PP asked "Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?"

And your response was "we were given $200k to buy a house." And now you explain that actually, you were teaching PP a lesson about how anyone can do it through working hard and saving and not "blowing it on vacations."

Also a gift that you have already cashed in by 36 is not "late in life."

You are just an all-around ingrate, and I hope for your sake your in laws never see this side of you.

Nope not going to back down on this, Troll. Again, I would be further behind, but not by that much (75% of our assets are our own savings), so if you intentionally want to miss the point, that’s YOUR problem. I am certainly grateful but I wont be shouted down when common sense is that if you save early and often, you can make quite a dent over a decade. And no, I’m not going to patronize you about all the numerous ways we did so, but no, I’m not entitled, I grew up with zero money, and I’ve worked hard. America has a lot of opportunity, and when you combine that with good luck (in the form of good health and intelligence) and moderation (saving) the formula works.

Now go climb back under the rock you came from!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

New P here, Ages 35,36, NW of $1.3 million, $300 of which is home equity. We were given $200k to help buy a place, but generally speaking, we both have been working since college graduation and saved saved saved. That means we have two incomes being saved for 14 years. We also paid off DH and my student loans in that time. Its been tight but I don't feel deprived.

This is interesting to me because we're 37 & 38, NW of $800k. If you strip out the $200k you didn't have to pony up for a DP and the $300k you wouldn't have without that gift, we're pretty much even. Except I've been working since I was 14 and save save saving.

It's nice that you "don't feel deprived," though.

PP here. It’s still expensive to live here and we have 2 kids and a third on the way. I’m not living large. That’s my point.

Just think how "not large" you'd have to live if you paid your own way.

Some of you posters are so annoying. We would be FINE if we had gotten no gift from the parents. We would have still be able to get a house in the neighborhood we live in but a bit smaller, we would have just 200-300 less saved. Yes, that is a lot, but I wouldn't have changed working hard or saving, so whats the difference?? It certainly helps, but my lifestyle hasn't changed. I don't even think i would feel like it would make that much difference because money is such a hedonistic treadmill. When I was 27 and saving, I though having X more money would make things better, and it doesn't. It just gives you more choices. 200k is A LOT but its not life changing. Again, the bulk of what we saved was from working and saving. I paid for my own college with scholarship, loans, and 3 jobs, and my husband paid for his own grad school too.

Yes, you got a life changing gift from your parents and continue posting about how it's not a big difference in your life. Yes, buying a house without having to furnish a down payment is life changing. Being able to pay off your loans while building equity because you didn't have to decide between the two is life changing. Being able to start a family that much sooner because you didn't have to save up for years is life changing. Being able to have a third kid in one of the most expensive cities in America is life changing. But you think it's NBD because you've "worked since college" -- who hasn't?

The idea that it's annoying to you when people notice how nonchalant you are about this unearned privilege is funny to me. Stay annoyed, princess.

Actually I worked through high school, and the gift again was late in life, so not sure ? why you are so wrapped around the axle. It wasn’t even from my family. The point is to respond to the PP that you CAN save big chunks by working and saving and not blowing it on vacations etc name your indulgence. Also, having a third kid is a blessing, not a pure financial decision because it’s never financially sane to have children!

There is no end to your obliviousness. the PP asked "Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?"

And your response was "we were given $200k to buy a house." And now you explain that actually, you were teaching PP a lesson about how anyone can do it through working hard and saving and not "blowing it on vacations."

Also a gift that you have already cashed in by 36 is not "late in life."

You are just an all-around ingrate, and I hope for your sake your in laws never see this side of you.

Nope not going to back down on this, Troll. Again, I would be further behind, but not by that much (75% of our assets are our own savings), so if you intentionally want to miss the point, that’s YOUR problem. I am certainly grateful but I wont be shouted down when common sense is that if you save early and often, you can make quite a dent over a decade. And no, I’m not going to patronize you about all the numerous ways we did so, but no, I’m not entitled, I grew up with zero money, and I’ve worked hard. America has a lot of opportunity, and when you combine that with good luck (in the form of good health and intelligence) and moderation (saving) the formula works.

Now go climb back under the rock you came from!

Sorry but the other posters are in the right about this -- not you. Our in laws gave much smaller gifts to each of our children when they were just getting started, around $100k each, and each of our kids readily acknowledge that the gifts were life-changing for young adults. In two cases the gifts allowed the kids to put down down payments on houses that they otherwise would have been several years away from purchasing, thus giving themselves extra years of increasing home equity, etc., while in the other cases the gifts paid for graduate school with money left over. Yes, they're all also hardworking and big savers, but none is so naive or cavalier to think that they'd still largely be where they are at this point in their lives without the help.

You're privileged. You got a lot of help to end up where you are. Own it and be grateful.

[Anonymous]

37, single 1.3M the 300k is equity. The rest is retirement accounts.

[Anonymous]

48.
I honestly have never really given net worth a thought. I don't think I'd know what all to include if I wanted to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

New P here, Ages 35,36, NW of $1.3 million, $300 of which is home equity. We were given $200k to help buy a place, but generally speaking, we both have been working since college graduation and saved saved saved. That means we have two incomes being saved for 14 years. We also paid off DH and my student loans in that time. Its been tight but I don't feel deprived.

This is interesting to me because we're 37 & 38, NW of $800k. If you strip out the $200k you didn't have to pony up for a DP and the $300k you wouldn't have without that gift, we're pretty much even. Except I've been working since I was 14 and save save saving.

It's nice that you "don't feel deprived," though.

I’m not refusing to acknowledge that, I’m just making clear that my life would not be horrible if I had 200k less. I’ve been poor, I’ve been middle of the pack, and yes this gift makes a big difference- but my point is not to let lifestyle creep keep you from saving. That is my advice to PP. Its a really disheartening mentality to think that nothing can get you there but a gift. It’s also wrong.


PP here. It’s still expensive to live here and we have 2 kids and a third on the way. I’m not living large. That’s my point.

Just think how "not large" you'd have to live if you paid your own way.

Some of you posters are so annoying. We would be FINE if we had gotten no gift from the parents. We would have still be able to get a house in the neighborhood we live in but a bit smaller, we would have just 200-300 less saved. Yes, that is a lot, but I wouldn't have changed working hard or saving, so whats the difference?? It certainly helps, but my lifestyle hasn't changed. I don't even think i would feel like it would make that much difference because money is such a hedonistic treadmill. When I was 27 and saving, I though having X more money would make things better, and it doesn't. It just gives you more choices. 200k is A LOT but its not life changing. Again, the bulk of what we saved was from working and saving. I paid for my own college with scholarship, loans, and 3 jobs, and my husband paid for his own grad school too.

Yes, you got a life changing gift from your parents and continue posting about how it's not a big difference in your life. Yes, buying a house without having to furnish a down payment is life changing. Being able to pay off your loans while building equity because you didn't have to decide between the two is life changing. Being able to start a family that much sooner because you didn't have to save up for years is life changing. Being able to have a third kid in one of the most expensive cities in America is life changing. But you think it's NBD because you've "worked since college" -- who hasn't?

The idea that it's annoying to you when people notice how nonchalant you are about this unearned privilege is funny to me. Stay annoyed, princess.

Actually I worked through high school, and the gift again was late in life, so not sure ? why you are so wrapped around the axle. It wasn’t even from my family. The point is to respond to the PP that you CAN save big chunks by working and saving and not blowing it on vacations etc name your indulgence. Also, having a third kid is a blessing, not a pure financial decision because it’s never financially sane to have children!

There is no end to your obliviousness. the PP asked "Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?"

And your response was "we were given $200k to buy a house." And now you explain that actually, you were teaching PP a lesson about how anyone can do it through working hard and saving and not "blowing it on vacations."

Also a gift that you have already cashed in by 36 is not "late in life."

You are just an all-around ingrate, and I hope for your sake your in laws never see this side of you.

Nope not going to back down on this, Troll. Again, I would be further behind, but not by that much (75% of our assets are our own savings), so if you intentionally want to miss the point, that’s YOUR problem. I am certainly grateful but I wont be shouted down when common sense is that if you save early and often, you can make quite a dent over a decade. And no, I’m not going to patronize you about all the numerous ways we did so, but no, I’m not entitled, I grew up with zero money, and I’ve worked hard. America has a lot of opportunity, and when you combine that with good luck (in the form of good health and intelligence) and moderation (saving) the formula works.

Now go climb back under the rock you came from!

Sorry but the other posters are in the right about this -- not you. Our in laws gave much smaller gifts to each of our children when they were just getting started, around $100k each, and each of our kids readily acknowledge that the gifts were life-changing for young adults. In two cases the gifts allowed the kids to put down down payments on houses that they otherwise would have been several years away from purchasing, thus giving themselves extra years of increasing home equity, etc., while in the other cases the gifts paid for graduate school with money left over. Yes, they're all also hardworking and big savers, but none is so naive or cavalier to think that they'd still largely be where they are at this point in their lives without the help.

You're privileged. You got a lot of help to end up where you are. Own it and be grateful.

[Anonymous]

Anonymous wrote:48.
I honestly have never really given net worth a thought. I don't think I'd know what all to include if I wanted to.

Add up all of your assets (savings accounts, checking accounts, stocks, artwork, cars, home value, etc.) and then subtract out your debts (mortgage, car loans, credit card balance, school loans, etc). Subtract your debts from your assets, and voila, you have your net worth.

52 and 53 - Net worth is $2.7M

[Anonymous]

Ages 60/55 and NW is around $12M. Then I take around 30% for taxes from the qualified accounts and in my head have a Net NW of around $10M.

[Anonymous]

37 and 39
We are at 3 million currently (and I will be first to admit extremely privileged. Its almost all family money)

[Anonymous]

40 & 42. Net worth about 1.35. And I thought that was good. Ya'll are killin' it out here.

[Anonymous]

27 years old and worth negative 53,000

[Anonymous]

55 & 49 - $4.5M (cash/retirement/investment accounts only; does not include Real assets).

If anyone cares..
- We track asset balances on a spreadsheet. updated each quarter.

- We also maintain a "projections" model that assumes an average 5% annual growth rate on investments and 3% annual inflation for expenses. Includes annual operating expenses as well as outflows for costs like college, cars, home remodeling in future years, as well as RMD impacts once we hit 70.5.

- Net balance would be (Investments+Growth+net income-Expenses-one time outflows like college costs)

- To account for market corrections, we adjust investment balances down by 30% for the next year. Eg. If my 2019 Jan balance was $4.0 M and expected Dec 2019 balance was $5.0 M, we would adjust the 2020 Jan 1 balance to $3.5M ($70% of $5M) to make sure we are still "balance positive" over our lifetimes. This is our "stress" test. Once we get into 2020 January, we will update with actuals and move the 30% hit to the subsequent year (assuming we did not indeed go through a major correction).

[Anonymous]

36, negative maybe 700K because of a mortgage. If you take that out it's positive 500K, but that's no how I think of things.

[Anonymous]

Anonymous wrote:36, negative maybe 700K because of a mortgage. If you take that out it's positive 500K, but that's no how I think of things.

The mortgage is not a liability unless the house is worth no money. To include mortgage you would add the value of your home to your NW and then subtract the mortgage balance

[Anonymous]

Anonymous wrote:

Anonymous wrote:36, negative maybe 700K because of a mortgage. If you take that out it's positive 500K, but that's no how I think of things.

The mortgage is not a liability unless the house is worth no money. To include mortgage you would add the value of your home to your NW and then subtract the mortgage balance

Safer (as in more conservative) to not add the house. You'll always need a place to stay in..