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Posted on 5/18/15 at 8:31 pm to Jtigers99
20,000 in 401k and 10,000 in checking for rainy day
Posted on 5/18/15 at 8:33 pm to Jtigers99
0.
not having any debt is what every 25 year old's goal should be
not having any debt is what every 25 year old's goal should be
Posted on 5/18/15 at 8:33 pm to Jtigers99
It depends on what you value and your lifestyle, what you are saving up for, and goals you are working toward. I would rather be in med school with a negative net worth than someone who dropped out of college and has been making 30k and saving up.
Does that person at 25 want a house and chirren, does he want to pop champagne bottles at tha club, does he want to scrape by and travel the world?
Your question is too vague.
But for me, I graduated college and worked as a field engineer and had about 75k saved up in 401k, cash etc at 25
Does that person at 25 want a house and chirren, does he want to pop champagne bottles at tha club, does he want to scrape by and travel the world?
Your question is too vague.
But for me, I graduated college and worked as a field engineer and had about 75k saved up in 401k, cash etc at 25
Posted on 5/18/15 at 8:35 pm to Jtigers99
If you graduated without student loan debt that means your parents are ballin'. So why waste your paychecks in "savings"?
Posted on 5/18/15 at 8:35 pm to Jtigers99
I'd say if you are actively contributing to retirement, then 1-5k in cash for a 25 year old is good. You're 25, enjoy life.
Posted on 5/18/15 at 8:37 pm to Kankles
There is no correct answer to this question
Posted on 5/18/15 at 8:43 pm to Jtigers99
I had more than $10,000 at the age but that's only because I was working while I was in college AND I lived at home with my parents AND my parents paid for my college. Results aren't typical. Just focus on paying off any debt.
Posted on 5/18/15 at 8:51 pm to Jtigers99
Nowadays, if a 25 year old even has a savings account in his or name you'd be way ahead of the mean.
Posted on 5/18/15 at 8:53 pm to East Coast Band
I just bought a new house and had $35k saved up. I have been blessed with a pretty good job out of college.
Posted on 5/18/15 at 8:53 pm to lsuwontonwrap
Way too many variables. Married? Kids? Hired into field straight out of college, or had to wait? Debt free or as close to debt free as allowable at 25, as well as starting to make headway in the way of a 401k and a savings account.
Posted on 5/18/15 at 8:54 pm to East Coast Band
You really have to compare based on salary at that age and what kind of student loans.
Someone who starts making 50k out of college and has no loans could have 50k saved (including 401k) if he or she is disciplined.
Someone who starts making 50k out of college and has no loans could have 50k saved (including 401k) if he or she is disciplined.
Posted on 5/18/15 at 8:54 pm to Jtigers99
$0
I'm enjoying eating out every day and drinking like a fish.
I'm enjoying eating out every day and drinking like a fish.
Posted on 5/18/15 at 8:57 pm to The Pirate King
$0 in savings would stress me out. Go into work one day and get let go and you are screwed.
Need at least a few grand in case emergencies happen.
Need at least a few grand in case emergencies happen.
Posted on 5/18/15 at 8:58 pm to Jtigers99
I'd say if you're not in debt, you're in good shape. I had around 20k, but was also paying for graduate school without loans.
Posted on 5/18/15 at 8:58 pm to Jtigers99
You should have enough to cover your annual out of pocket expenses-deductables for medical and auto policies.
If you have any debt at all, anything extra should be spent paying that off.
If you have money making 1.3% at in the savings while you are paying 14.9% on a credit account, you are doing it wrong.
If you have any debt at all, anything extra should be spent paying that off.
If you have money making 1.3% at in the savings while you are paying 14.9% on a credit account, you are doing it wrong.
Posted on 5/18/15 at 8:58 pm to BabyTac
quote:
I would think at 25 your goal should be not to have any unnessessary debt (credit card, etc), be working towards paying off student loans by 30, and have started saving some amount per month for emergencies or unexpected expenses that may arise. That would be an ideal situation to be in for a 25 year old in my mind.
agree completely....
Posted on 5/18/15 at 9:02 pm to Jtigers99
0. You should be enjoying your life at age 25. And 35. And 45. If you're already stockpiling money, you're either doing it wrong, or you have a crappy job - in which case you're also doing it wrong.
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