Twentysomethings, how much do you have in savings?

[Anonymous]

How old are you?

How much do you have in emergency savings?

401k?

Anything else?

[Anonymous]

29
68k in savings, 10k stocks, 180k 401k

Most of our money is in our house.

[Anonymous]

29
trust fund baby (sorry)
retirement is already funded, homes were bought in cash.

[Anonymous]

Um. 28, not very much in either (under 10k each). I don't have a partner to share expenses with, though.

[Anonymous]

Anonymous wrote:29
trust fund baby (sorry)
retirement is already funded, homes were bought in cash.

36. How much in your trust fund, and how does it pay out? Just curious. Living vicariously.

[Anonymous]

Anonymous wrote:29
68k in savings, 10k stocks, 180k 401k

Most of our money is in our house.

Wow is that between the two of you?

[Anonymous]

Anonymous wrote:

Anonymous wrote:29
trust fund baby (sorry)
retirement is already funded, homes were bought in cash.

36. How much in your trust fund, and how does it pay out? Just curious. Living vicariously.

NP. I'm imagining it's quite a bit. I'm not sure I'll ever be comfortable enough to say my retirement is "already funded"

[Anonymous]

26 + 30

30k cash savings
20k mutual fund
50k retirement accounts

[Anonymous]

Anonymous wrote:

Anonymous wrote:29
68k in savings, 10k stocks, 180k 401k

Most of our money is in our house.

Wow is that between the two of you?

Yes two people. We each have about 90k in our 401ks. We didn't even max them out until last year... but we've been working since 21. I think our secret is that we married young and joined our money and saved together.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:29
trust fund baby (sorry)
retirement is already funded, homes were bought in cash.

36. How much in your trust fund, and how does it pay out? Just curious. Living vicariously.

NP. I'm imagining it's quite a bit. I'm not sure I'll ever be comfortable enough to say my retirement is "already funded"

It depends how young you are. If you have $100,000 at 22, you can expect that will turn into about $2M by 65 at a 7% return without any additional contributions. Annuitize that for 6% and you've got a $120,000 annual income for the rest of your life. (That's the simplest way, at least, but you can see that it certainly takes care of the basics).

And that initial $100,000 could be just two or three years of public school vs. private.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:29
68k in savings, 10k stocks, 180k 401k

Most of our money is in our house.

Wow is that between the two of you?

Yes two people. We each have about 90k in our 401ks. We didn't even max them out until last year... but we've been working since 21. I think our secret is that we married young and joined our money and saved together.

We did the same things, and now in our late 30's, we're in very good shape.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:29
trust fund baby (sorry)
retirement is already funded, homes were bought in cash.

36. How much in your trust fund, and how does it pay out? Just curious. Living vicariously.

NP. I'm imagining it's quite a bit. I'm not sure I'll ever be comfortable enough to say my retirement is "already funded"

It depends how young you are. If you have $100,000 at 22, you can expect that will turn into about $2M by 65 at a 7% return without any additional contributions. Annuitize that for 6% and you've got a $120,000 annual income for the rest of your life. (That's the simplest way, at least, but you can see that it certainly takes care of the basics).

And that initial $100,000 could be just two or three years of public school vs. private.

It's more than $2M now. Plus my husband has his own. I get a percentage of the interest each year, plus I get chunks upon reaching certain milestones (graduating from high school, college, grad school, marriage, turning certain ages, etc.). Fun fact: I get some upon having a baby, but I'd get more if I have a boy instead of a girl. I was super offended when I found out about that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:29
trust fund baby (sorry)
retirement is already funded, homes were bought in cash.

36. How much in your trust fund, and how does it pay out? Just curious. Living vicariously.

NP. I'm imagining it's quite a bit. I'm not sure I'll ever be comfortable enough to say my retirement is "already funded"

It depends how young you are. If you have $100,000 at 22, you can expect that will turn into about $2M by 65 at a 7% return without any additional contributions. Annuitize that for 6% and you've got a $120,000 annual income for the rest of your life. (That's the simplest way, at least, but you can see that it certainly takes care of the basics).

And that initial $100,000 could be just two or three years of public school vs. private.

It's more than $2M now. Plus my husband has his own. I get a percentage of the interest each year, plus I get chunks upon reaching certain milestones (graduating from high school, college, grad school, marriage, turning certain ages, etc.). Fun fact: I get some upon having a baby, but I'd get more if I have a boy instead of a girl. I was super offended when I found out about that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:29
trust fund baby (sorry)
retirement is already funded, homes were bought in cash.

36. How much in your trust fund, and how does it pay out? Just curious. Living vicariously.

NP. I'm imagining it's quite a bit. I'm not sure I'll ever be comfortable enough to say my retirement is "already funded"

It depends how young you are. If you have $100,000 at 22, you can expect that will turn into about $2M by 65 at a 7% return without any additional contributions. Annuitize that for 6% and you've got a $120,000 annual income for the rest of your life. (That's the simplest way, at least, but you can see that it certainly takes care of the basics).

And that initial $100,000 could be just two or three years of public school vs. private.

It's more than $2M now. Plus my husband has his own. I get a percentage of the interest each year, plus I get chunks upon reaching certain milestones (graduating from high school, college, grad school, marriage, turning certain ages, etc.). Fun fact: I get some upon having a baby, but I'd get more if I have a boy instead of a girl. I was super offended when I found out about that.

Right? I was so offended. And when I ranted it about it to my father he was so blasé about it, like "This was put in place generations ago, when women didn't go to college, didn't support the families, it's not as offensive as your feminist mind is making it out to be." We have two girls. I was really tempted to put them, as newborns, in traditional boy-colored onesies and claim they were boys, and then donate the extra money to some female-centric non-profit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:29
trust fund baby (sorry)
retirement is already funded, homes were bought in cash.

36. How much in your trust fund, and how does it pay out? Just curious. Living vicariously.

NP. I'm imagining it's quite a bit. I'm not sure I'll ever be comfortable enough to say my retirement is "already funded"

It depends how young you are. If you have $100,000 at 22, you can expect that will turn into about $2M by 65 at a 7% return without any additional contributions. Annuitize that for 6% and you've got a $120,000 annual income for the rest of your life. (That's the simplest way, at least, but you can see that it certainly takes care of the basics).

And that initial $100,000 could be just two or three years of public school vs. private.

It's more than $2M now. Plus my husband has his own. I get a percentage of the interest each year, plus I get chunks upon reaching certain milestones (graduating from high school, college, grad school, marriage, turning certain ages, etc.). Fun fact: I get some upon having a baby, but I'd get more if I have a boy instead of a girl. I was super offended when I found out about that.

Right? I was so offended. And when I ranted it about it to my father he was so blasé about it, like "This was put in place generations ago, when women didn't go to college, didn't support the families, it's not as offensive as your feminist mind is making it out to be." We have two girls. I was really tempted to put them, as newborns, in traditional boy-colored onesies and claim they were boys, and then donate the extra money to some female-centric non-profit.

Your righteous indignation is oh-so inspiring.