What's a "normal" amount of money for a late 20s person to have in savings? | Page 4 | TigerDroppings.com

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ThaBigFella
LSU Fan
baton rouge
Member since Apr 2006
2043 posts

re: What's a "normal" amount of money for a late 20s person to have in savings?


quote:

reading this thread it sounds like the wife and i dont have enough saved at this point, and we always felt like we were ahead.

we will both be 43 this year and between the 2 of us in savings, home equity, retirement plans, and 529 accounts we are sitting combined at about 1.4M net worth, or only 700k each, (the actual split is about 66/34 in favor of the wife). looks like we have some work to do.



Surely you are trolling if you feel a net worth of $1.4M isn't enough. I mean it's not alot of money in the scope of things, but in comparison to the average american? You really must be kidding, you are very very very far ahead of the average 43 year old.






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jjbodean1970
LSU Fan
Morgantown, WV
Member since Mar 2006
6490 posts

re: What's a "normal" amount of money for a late 20s person to have in savings?


quote:

Surely you are trolling if you feel a net worth of $1.4M isn't enough. I mean it's not alot of money in the scope of things, but in comparison to the average american? You really must be kidding, you are very very very far ahead of the average 43 year old.
according to lsurussian, who seems to be very well versed in money matters, one should have 1M net worth at age 40. i am assuming this is per person. i am apparently behind.



This post was edited on 7/29 at 11:04 am


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ThaBigFella
LSU Fan
baton rouge
Member since Apr 2006
2043 posts

re: What's a "normal" amount of money for a late 20s person to have in savings?


Yes, bc the average american is worth $1M at 40. LSURussian is only taking into account small business owners,doctors,lawyers,investment bankers, and the other professionals. If the average american was worth $1M at 40 we would be living in the golden ages of america.

I have a hard time believing someone worth $1.4M truly believes he is behind in life by being a millionaire with another 20+ years before he retires therefore ending his career worth north of $5M at the current pace he's at.






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jjbodean1970
LSU Fan
Morgantown, WV
Member since Mar 2006
6490 posts

re: What's a "normal" amount of money for a late 20s person to have in savings?


quote:

I have a hard time believing someone worth $1.4M truly believes he is behind in life by being a millionaire with another 20+ years before he retires therefore ending his career worth north of $5M at the current pace he's at.
the prospect of being behind was never a thought until i read this thread. i always figured we were pretty well ahead at this point.






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jjbodean1970
LSU Fan
Morgantown, WV
Member since Mar 2006
6490 posts

re: What's a "normal" amount of money for a late 20s person to have in savings?


damnit, looks like i posted this in the wrong damn thread





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LSUBrad5277
LSU Fan
North Louisiana
Member since Jan 2011
12640 posts

re: What's a "normal" amount of money for a late 20s person to have in savings?


3months living expense in a savings account.

Keep about 1K in checking account anything more and wife buys too much stuff for kids.

No ira's right now but not too worried I have other assets -land, timber, mineral rights, etc......

No credit card debt.

Mortgage, wife's student loan, and one car payment.


Considering her parents and my parents at our age we are doing fine.






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