Congrats on the humblebrag disguised as a "I'm sooooo worried" problem.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have 450k spread between savings and investments. But I am constantly worried about money and afraid to go broke because I used to live in poverty during college.

(OP) Am I on track? I don't know if I'm just panicky or what my issue is, but I don't feel on track at all.

It's not how much you have, it's how much debt you have and how much you are spending. What is your debt amount?

I don't have any debt at all.

Then you are doing very well. Just keep doing whatever you’ve been doing. Don’t get obsessed about money though. It will bring you nothing but misery and headaches.

Anonymous wrote:

Anonymous wrote:I have 450k spread between savings and investments. But I am constantly worried about money and afraid to go broke because I used to live in poverty during college.

(OP) Am I on track? I don't know if I'm just panicky or what my issue is, but I don't feel on track at all.

It's not how much you have, it's how much debt you have and how much you are spending. What is your debt amount?

I don't have any debt at all.

750k, if the goal is to reach your first million by 35 and well why wouldn't that be the goal, what are you waiting for?!

LOL do you realize how internet strangers can't help with these random questions unless you fill in details? Savings/NW expectations differ based on whether you make 20k or 200k or 2mil.

It's going to depend, in large part, on your income and how long you've been working.

To give you an idea of percentiles (for households, mind you): https://dqydj.com/net-worth-by-age-calculator-united-states/

You can play around with the calculator but as an example:

A household led by a 30-34 year old with a net worth (including home equity) of $150,000.00 was in net worth centile 82% in 2016. This centile ranged from $149,165.42 to $158,143.91. Around 1,938,976 of the 10,772,092 households in this age range had $149,165.42 or more in net worth.

Anonymous wrote:Well, not a pep talk... but I also don't own any property. So it's not like I'm house-rich either. My money is all in IRA/401k and savings, no property investments. I worry about my future a lot. It feels like I'm gonna go broke at any minute.

Do you think the average American net worth at your age is a half million? Look it up. It is something like 45k. Now I know DCUM will chime in with -- not in DC we're sooooo educated, sooooo rich. So ok, maybe the average in DC is 5x that amount bc you all are so much better -- that's 225k. You are at 2 times THAT exaggerated value. And who cares if it's not in property? Net worth is net worth and if anything equities are better bc they are far more liquid than a property you live in. You can buy property if you feel that'll grow you NW.

Anonymous wrote:Well, not a pep talk... but I also don't own any property. So it's not like I'm house-rich either. My money is all in IRA/401k and savings, no property investments. I worry about my future a lot. It feels like I'm gonna go broke at any minute.

Then you don't have a finance issue, you have a mental health issue.

Anonymous wrote:I have 450k spread between savings and investments. But I am constantly worried about money and afraid to go broke because I used to live in poverty during college.

(OP) Am I on track? I don't know if I'm just panicky or what my issue is, but I don't feel on track at all.

It's not how much you have, it's how much debt you have and how much you are spending. What is your debt amount?

Well, not a pep talk... but I also don't own any property. So it's not like I'm house-rich either. My money is all in IRA/401k and savings, no property investments. I worry about my future a lot. It feels like I'm gonna go broke at any minute.

Anonymous wrote:I have 450k spread between savings and investments. But I am constantly worried about money and afraid to go broke because I used to live in poverty during college.

(OP) Am I on track? I don't know if I'm just panicky or what my issue is, but I don't feel on track at all.

I knew this is what would come out eventually. $450k in your mid-30's and you need a pep talk from internet strangers?

You're fine.

I have 450k spread between savings and investments. But I am constantly worried about money and afraid to go broke because I used to live in poverty during college.

(OP) Am I on track? I don't know if I'm just panicky or what my issue is, but I don't feel on track at all.

More than when you were 33

You should be saving 20% of your income. Figure out what you have made since you started working, multiply by 20% and that's how much you should have saved before appreciation.

Soooooo many variables, but if I were a single female at 34, I'd want to have about $15k liquid in the bank for emergencies, little / no debt, and at minimum, I'd be putting away the $18.5k in my 401 k each year (even if I don't currently have a large 401k balance).

What is the average? I'm a single female.