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Net Worth at 30
Posted on 7/28/13 at 2:03 pm
Posted on 7/28/13 at 2:03 pm
Based on the perfect salary thread... What is a "good" and "great" net worth for someone at 30?
13
Posted on 7/28/13 at 2:20 pm to nolanola
1,000,000 dinars!
Posted on 7/28/13 at 2:40 pm to nolanola
Depends where you are in your career.
My net worth is a about one year of my gross income. I feel that I am further than most.
My net worth is a about one year of my gross income. I feel that I am further than most.
Posted on 7/28/13 at 2:40 pm to nolanola
If somebody went to med school, law school, or got a PhD, then they would probably be doing well to get to a net worth of ZERO by that point.
Getting to $300k net worth by 30 would probably be considered "great" based on prior threads on this board.
Here is an interesting blog post that theoretically suggests "the average net worth of the above average person" as $240k at 30. LINK. I would consider that number to be way more than just "good".
I would think almost anyone could have $100k by 30 if they started a career around age 21 or before and were somewhat diligent in their finances (or super diligent with a low income).
Getting to $300k net worth by 30 would probably be considered "great" based on prior threads on this board.
Here is an interesting blog post that theoretically suggests "the average net worth of the above average person" as $240k at 30. LINK. I would consider that number to be way more than just "good".
I would think almost anyone could have $100k by 30 if they started a career around age 21 or before and were somewhat diligent in their finances (or super diligent with a low income).
Posted on 7/28/13 at 5:36 pm to nolanola
quote:By 30 a professional should be somewhere around 1/2 million dollars net worth.
What is a "good" and "great" net worth for someone at 30?
Double that by 40, double again by 50 and double again by 60, IMO.
Posted on 7/28/13 at 5:39 pm to nolanola
Mine was about 150-200k at age 30. But had only been working for 4 years and the wife for 4 years and had two kids. But zero school debt from med school and pharmacy school.
Posted on 7/28/13 at 6:10 pm to nolanola
Again, MTB ballers up in this bitch being that the median net worth for a 25-34yr old is 8k according to CNN Money....
I'd honestly say 100k or so would be solid at 30yrs old.
I'd honestly say 100k or so would be solid at 30yrs old.
Posted on 7/28/13 at 8:19 pm to nolanola
I turned 30 in 2007, between the stock market and housing market crashes I'd rather not think about my net at that time...
Posted on 7/29/13 at 11:15 am to nolanola
i'm going to try this again, posting in the CORRECT thread 
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.
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.
Posted on 7/29/13 at 11:19 am to nolanola
I'll say this....The Millionare Next Door formula is usless if you are under 40, IMO. You'd need a solid 12-15 years of compounded interest working in your favor.
I'd have to inherit major $$ to be close to that at my age, and that would undermine one of the key points of the book ironically. I save 20% of my earnings, and try to avoid spending money on things that don't contribute to my net worth (like fancy vacations or frequent meals at expensive restaurants).
I'd have to inherit major $$ to be close to that at my age, and that would undermine one of the key points of the book ironically. I save 20% of my earnings, and try to avoid spending money on things that don't contribute to my net worth (like fancy vacations or frequent meals at expensive restaurants).
This post was edited on 7/29/13 at 11:28 am
Posted on 7/29/13 at 11:36 am to nolanola
At 30 my net worth was zero.
Using today's dollars I had a 300K house with 100K down (equity). I did not have 200K in savings and stocks. So, that's zero.
Using today's dollars I had a 300K house with 100K down (equity). I did not have 200K in savings and stocks. So, that's zero.
Posted on 7/29/13 at 12:01 pm to nolanola
If we are considering this total assets minus total debits, then our combined net worth (both 29, her with a Bachelor's degree and me currently working on MBA) is about $5,000, and should start increasing dramatically over the coming years.
I'm pretty happy with that. 5 years ago we were WELL in the red because of fresh mortgage, car notes, and student loans.
I'm pretty happy with that. 5 years ago we were WELL in the red because of fresh mortgage, car notes, and student loans.
Posted on 7/29/13 at 8:54 pm to nolanola
How many kids?
Posted on 7/30/13 at 1:06 pm to nolanola
Didn't read the entire thread so this may have been mentioned, but in the Millionaire Next Door, the formula is this:
Annual Income x Age/10
If someone who makes 80k at 30 has more than 240k, they are doing well.
Annual Income x Age/10
If someone who makes 80k at 30 has more than 240k, they are doing well.
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