age vs. money in the bank

I find myself asking this question and I have zero clue how I am doing relative to my professional peers.

I know I am ahead of the curve compared to my peers in general (graduating class), but I don't have any baseline professionally.

Let's use 30 years old and $300 K including 401k, IRA and savings accounts as an example.

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Let's use 30 years old and $300 K including 401k, IRA and savings accounts as an example.

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I'd say you are in the top 3% for people you're age. I'm almost 30 and my net worth isn't that much or even close to be honest.

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I understand there are many factors that could determine the answer but is there a simply way to do a self assessment ?

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Rough ROT:

At age 35, you should have saved an amount equal to your annual salary.

At age 45, you should have saved three times your annual salary.

At 55, you should have five times your salary.

When you retire at age 67, you should have saved 8-10X your annual salary.

I see no way that ill have 300k in the bank at 30. My salary at 30 should be around 130-150k and I can get to 300k savings shortly after 30.

FWIW, I just turned 24.

All jokes aside, yours are numbers that come from living well w/in means -- especially as a young adult. That is the ticket. Cannot emphasize it enough.

Haven't seen 55, but we're working with almost embarrassing multiple levels at this point. Way out there. Same m.o. Understand where your money is going. Develop savings goals and a plan to attain them.

I've watched high income folks rifle through earnings over the years. As money came in, it was spent. Ferraris, Yachts, hot airplanes -- seemed like a great idea at the time. Now, not so much. They lived then as they do now, paycheck-to-paycheck. Makes for grim reality in the retirement equation. Not where anyone wants to be.

lynx, what is your profession? Doesn't have to be specific.

Lynx - I didn't start making a good income till I turned 26. I'm 29.

I've got roughly 15k in savings.
30k in roth, 401k, etc
5k in checking

100 - 120k in housing equity on rental properties. (This was amassed while making less than 50k a year)


I'm getting close to making 6 digits a year now so I hope to increase these numbers dramatically. Specifically in the NNN market with grade a tenants.

Are we talking net worth or savings?