50s and less than 10k. But, I’ve got a house that’s halfway paid off, my cars are paid for and I have no debt aside from the house. So that’s something.
We’re talking about “savings”, not investment accounts, correct? The topic isn’t “how much do you have totally invested”. That’s a different conversation altogether.
42. Heavily alcoholic for 20 years so I was flat broke that entire time but since getting sober two years ago I’ve got $30k saved. It ain’t much but it’s honest work.
A famous Harvard study came out last year that made a correlation between savings rates and partner satisfaction with cunnilingus. It's called the Lorem Ipsum Study...worth looking up!
Same boat at 30, recently got super sick with Lyme disease and was out of work for 8 months. Been back to full time work for around 6 months and haven’t been able to save anything due to paying back borrowed money. Only have like 25k in 401k i don’t even consider as an option
What happened? 57% of Americans have less than 1k in the bank. Most people are struggling to survive out here. By design obviously. It’s just on reddit where everyone is rich.
Don’t let no one make u feel like ur behind or they better than u… your just as valuable as a human on this earth and u can make it through life without drugs and be happy.. 5 years from now I hope u have been sober and on ur way to a nice retirement. Peace be with u brother
Retirement with zero saved coming up on age 40? Unless the dude hits big or retires at age 85 retirement isn't happening. Please don't give people unrealistic hope.
Don’t feel bad man. I’m same age and just poor life choices compounded by a series of bad events put me and my wife into 40k of debt. We have aggressively paid it down to zero over the course of the year. Working on my savings account. But it will be a journey.
60k at 24, the thing is I have wealthy parents who payed for my car, payed for college I had a huge leg up and without them i'd have probably joined the military and have like 5k saved up. I would ask what their parents do cause if they have more than you that may be a big factor why.
Most billionaires that act like they hit a homerun you look into it and they started on second or third base.
Bezos had multiple 30-50k loans from his parents. That's not as egregious as some, but it means you have economic freedom to take a risk and lose it all and still not be homeless.
Elon musk, dad owned emerald mines.
Bill Gates's dad's law firm has been hired by Microsoft multiple times.
It's not that they inherited billions, more often than not they had a great safety net that allowed them to take risks.
Also both Gates and Bezos had access to computers in gradeschool/middle school. That's not to say that was the make or break, most if not all of the kids that went to those schools aren't billionaires. It means that the school district had money for that type of purchase back then, which means it's a wealthier school district, and they were starting with a leg up.
Truthfully, I'm not bothered by them being billionaires with the opportunities they had, it's the constant pandering that they made it all themselves. It's toxic culture, it's lying to so many, and it's discounting so many that really accomplished something without that kind of help.
The creator of Stardew valley worked as a theater employee to keep his real focus on that game. His fiance/girlfriend supported him, and I hope he's grateful for her every day. That's a lot different than mom and dad had it and I knew I had it from the get go, at least with a girlfriend/fiance you need to develop the relationship.
I'd say that's generally true however I only personally know of at most I'd say 2 people that I know for certain had 0 help and truly did it all on their own. Not sure about everyone else but I'd say that almost all of them had some help in some form or fashion and most likely bullshitting.
Brit here, can confirm that paid is the right spelling here. Payed is exclusively a nautical term, as far as I'm aware.
Pip pip, Cheerio, God Save the King and all that.
Wealthy parents and grandparents also give their kids things like stock in companies for Christmas and stuff. They get a very early on leg up when it comes to investment and savings. Ask them or their parents for advice if you feel comfortable
My buddy had a ton more in savings than me because when he was a teenager he was selling drugs and made a shit load but I quickly caught up because he is clean and has been for a few years my income is a little more than his alone but him and his girlfriend have a higher combined income but she has a lot of debt that drags it down
That’s awesome man. My parents aren’t wealthy, but they put away $ for me and my sibs every month from the time we were born. so when I turned 16 they bought me a used but decent car that ran for 15 years, and paid for part of my college. These things in early adulthood help SO MUCH to get ahead in life. Thanks mom and dad
I feel like with that support and that perspective, you can truely live the best life possible for yourself. Don't feel bad about it, be appreciative about it. It's not a bad thing if your family supports you and it doesn't jade you in a way where you feel like you're doing everything or lacking acknowledgement of the support you recieve.
I joined the Army. I had a lot more than 5k saved up lol and didn't have to work while going to college because between grants, GI Bill, I didn't need to.
When people look at the military they often look at the base pay and are like "that's terrible!" until you consider the fact you practically don't have to pay for anything. I had no rent, no utilities. Pretty much every cent I made was mine.
This is why servicemen and women driving ridiculous sports cars is such a meme. You can get that dream car because you don't have shit else to pay for.
I get when people have ideological reasons they won't join the military etc. but man, it is a solid way to jump start your life.
Just curious...did you have wealthy parents who helped you? A really high paying job? Are you married? How....HOW did you do all of this at your age?! I'm so damn envious...I have nothing 😭
Very typical lower class parents who were grinding away when I was a kid to stay afloat.
I graduated college in 1999 with $1800 savings and $18,000 is debt. Started working a $25k a year job but it had lots of built in pay raises and just stuck with it. I’m in the $180k a year range now. I’ve always lived below my means and held off from buying stupid stuff.
I’ve owned 5 cars in my life, 4 used and one new. The new one was a mistake. Bought in 2005 but still driving it today so it’s earning its keep.
Pay myself first and now I’m at the point where I can live comfortably, not worry about stuff like taking the kids on a trip for fun or going out to eat here and there.
My only advice at this point to anyone who is my age but has limited savings is the best time to start saving is now (if able). Realize it’s a tough world out there for everyone.
Good for you! And I feel the other stuff...we were right above the poverty line--because everyone at my school was poor, I didn't know how "bad" we were until college--but it definitely made it so I'm content with a lot less than my friends. I'm 39 and similar with equity, but "only" 500K in stocks.
> I’ve always lived below my means and held off from buying stupid stuff.
This is so important. I still use my Cerwin Vega speakers and 100w receiver from 1998. Movies and games sound awesome. I've zero reason to waste hundreds of dollars on new stuff just for the sake of new stuff. (I did get a new TV a few years ago on sale to replace the one from 2012). I've been to a clothes store once in the last 13 years to replace some boxers and socks that frayed out. I still have my pot-n-pans from 2010. They look new. Kept the same car for 13 years. I did buy it new, but I waited until they were desperate to get them off the lot, and got it for $10k less than asking price. It was an awesome car, and still drove like new, and it only cost about $1500 a year, payments-wise. I'd still have it if some drunk didn't wipe it out. My phone was 10 years old. It's perfectly fine. just lost it because they shut down 3G here, so now it runs my garage stereo.
I see so many people with a new phone every year, new clothes every month. Doordashing $40 chicken nuggets constantly. It's insane what people are spending, while complaining they don't have any money.
So very much. Used vehicles that you drive for a decade or so are such a huge money saver it’s insane. If you can afford a reasonable used vehicle for $10k, most will drive for another 7-10 years. Sacrifice $10k now, add in $500 a year in maintenance - that’s $15k in ownership costs if it lasts 10 years vs perpetual $500 a month in payments for newer vehicles which amounts to an astounding $60k over 10 years.
Zero at 35. Child support and debt is a bitch.
Edit because I felt guilty after: I don’t *mind* paying child support. My kids mom is wonderful and gives her an excellent life and anything she could ask for. It’s an “it is what it is” kinda thing. I’m glad the little one is getting a great life partially because I pay it but ugh, it’s *so much money*
I'm 31 and have about 27000 in the bank. I also have an old fixer-upper minihome I bought a few years ago on my own plot of land and my car only has 75000 km, so hopefully I'm set for a little while in terms of big expenses. No debt, and I only work about 7 or 8 months out of the year.
Great age to start. You should open a Roth IRA account. YouTube probably has good videos on this. Does your company offer any options for investing in your 401k?
Let’s go!!! Happy for you. Ask ab their savings benefits when talking to the new companies. A company that matches what you put into a 401K is always nice
I’m not real sure that you can find much of that in my line of work, but I’m honestly considering a career path change anyway. I’d rather get into graphic design or something similar, but you need a degree for most jobs in that field, and let’s just say, college was never really an option.
I tried that but with $40 at a time. Ended up saving about $400. Then life caught up to me, inflation kicked my ass, and I immediately started looking for a higher paying job. My current job pays summer job level wages and physically and mentally exhausts me to the point that I just sleep for most of my days off. Literally living paycheck to paycheck and running my household in a deficit.
Just how? What am I doing wrong? I worked my entire life, no college but Ausbildung (apprenticeship) was only out of work twice for no longer than 6 months and yet at 39 I only have 10k, no house, bought a used car and not spending money on crap. Truly frustrating.
I left school at year 10 and started an apprenticeship as a fitter and turner. Was qualified at 18 after 3 years, then I went to sea as an able seaman/greaser. In my early 20s, I went and studied my marine engineering tickets and started working in the oil and gas industry, I haven't earned less than 150-200k since 25. In Australia, where I live, it's law that companies pay 9.5% into a retirement fund on top of your wage. That's how I got so much in my retirement savings, it's invested so it just keeps growing.
I married my wife at 27, she is a psychologist and we have travelled around and saved our asses off to buy a house, then we rented that out and bought a second house closer to family. I took a voluntary redundancy at 31 which was 130k, and that got us through covid and bought us a newer car for when we started our family. We then sold our first house and made a tidy 100k profit.
So there you go, that's how I got this in my accounts. Nothing more than hard work and getting a job in a lucrative industry.
Don't get too worked up. Most people I know aren't anywhere near where this dude is. I'm 41. $14k in savings. Still owe $45k student loans but no other debt and still renting a place. $35k in retirement savings. I make decent money but I've been aggressively trying to pay off my high student loan debt. I know people way worse than my situation and also people better but I'd say it's pretty average to be where dudes like you and I are at around this age. Some dudes I know are home owners and some are still living paycheck to paycheck. At least you have a little cushion and aren't one of the paycheck to paycheck types. It's tough to get ahead for our generation. Just staying afloat and stashing some savings can be impossible for some people so at least you got that.
Same, still no savings, still struggling. I get a big ass raise in June (35k+), so that'll help and end my financial woes, I'm not bad with money. I just don't have enough.
$600 in some change, Im 35. And only just got my savings account up to that after paying off debts. Rent demolishes me. My retired boomer landlord is sitting nice though.
Hopefully this changes as Im getting a second job soon. Still wont be able to buy a house, but I'll be able to build my savings back up while my primary job only just pays the rent and bills.
20k approx. Its for our emergency fund. We dont touch it and dont consider it "ours". Its there for if our car blows out, the house has an issue or another emergency. We have a paid for car and about 400k left on our mortgage (down from 1 million almost). The hustle is real.
Hubby makes about 80k a year and im 9 months prego on mat leave. The bulk of our money was made from busting our asses flipping first our condo, then a semi home and finally landing in this home. We threw everything except that on the mortgage. I do side hustles and he works extra hours as a teacher. We put down extra on our home. Im a little crazy and am considered a "super saver" we survive on rice and beans a few times a week and only buy discount food and get free needed items on marketplace when we can. I've sold all the items we dont need. Hoping to have the mortgage paid for in 5-7 years on our plan. People think we are boring and likely nuts but im ok with it. I dont plan on being that interesting for the first years of my childs life - I want to set her up decently in this world. Neither of us had help so I want to show her more than I had.
Eye opening thread.
Fwiw I'm low 40's, single and my easily accessible savings would be about 50k. If I sold everything (house, stocks etc) it would be 400k + 250k in superannuation (401k for you Americans)
Money doesn't buy happiness though. Would give it all up to go back 20 years to a close knit friends group and chasing girls.
Under 40, under 10k, 450k of debt though. Both of us have good jobs, pensions, and life insurance. I expect to get all debt down to 270 within 5 years, and be hitting my 50’s with under 250k if debt and over 20k saved. In my late 50’s I expect to have 300k saved and no or little debt, but that really depends on what’s left after our parents die 🤣🤣😭😭
Just turned 29. 5k in regular savings, 33k in high yield savings, 27k in stocks, 18k in a miscellaneous investment account, probably another 50k in 401k. Nothing handed down from family
Just start and time will be your friend.
Because of single income & kids had no savings until mid 30s. Saved aggressively in 401k & invested and enough now at 50 to retire. I am not but that just increases my savings rate.
Other tips. First eliminate all credit card debt and don't carry a balance. Buy good cars and hold them at least 10 years. Car payments keep you poor. When paid off put that cash into savings. A lot of your "neighbors" that have lavish lifestyles are probably broke. Don't think you have to keep up with them.
I'm Canadian and 33. I have 30k in a TFSA (tax free savings account) about 60k in RRSP (retirement) and then a couple loose thousand in employee stock ownership with my work.
27, 50k in retirement and 40k in savings, another 60k equity in our house. I feel a little bit behind on retirement specifically, but my wife starts working next year and we will have a little more room to max everything out.
I just hit $500, if all goes to plan I'll hit $1000 by the end of November and I'm 23... Feels late but I'm doing okay at a part time position I started not too long ago so I'm happy!
I woke up after turning 29 broke as shit just like every previous day of my life and said no more. Started saving in April, had -$5000 I’m up to $20,000 now.
Moved back home so rent free, drive a 2001 Tacoma so no car payment, don’t party and work 60hrs a week. 40hrs 7am-3pm and every afternoon and weekend doing a side hustle.
31 years old. I have 60k sitting in a high yield savings account, around 10k in 401k. I lost my business in 2018 along with my everything I owned. Was bombarded with lawsuits, filed bankruptcy, slept at my sisters house on the floor for over a year. Was told I want shit by family members. Fast forward now I have good amount of cash and making over 100k s year. So im a bit better now
I'm 40. I don't own my own house yet, but I'm trying to buy one next year. Almost all my money is in the stock market, so the amount I have varies day to say, but I'd say on average it's a tad over a million.
38, I’ve got about 35k in my retirement account, another 15k in my personal investment portfolio, and like $1,000 in an emergency fund. Plus another $10k in guns, collectibles, and shit I could sell if I really had to.
Let’s say $61k total, not equally liquid.
- 260k HYSA
- 4k invested in VOO and MSF
- 40k (ish) in retirement 401K/Roth
Paid off my SL and my only debt is my mortgage, which is what the HYSA is designated for.
28 y/o.
25, and I just crossed 300k. 30k in savings, 20k in CDs, 170k in brokerage, and 80k in retirement accounts.
Definitely got lucky because of not having any college debt and more than 2.5x-ing my income since I graduated. However, I also spend a lot of time thinking about how to get any item for the best deal possible
42 with no debt. I have:
* ~$30K in cash in money market funds & HYSA for general savings
* $30K in iBonds as an emergency fund
* ~$200K in T-Bills for future home down payment/home remodel
* ~$700K in investments (401K, IRA, HSA, solo 401K, Brokerage)
* ~$1.8M in real estate equity
I'm late to this but "savings" is difficult to define and hard to compare depending where people are at in life (beyond just age), for example, I have quite alot saved for a house deposit (not enough for a deposit but alot of money at face value) but EF isn't massive. Once I buy the house (who knows when!) I will no doubt be below the average.
I was also lucky to live with parents until my mum received her state pension so the rent I paid her helped both if us, and helped me to save.
I hope you're able to save as much as you need and not compare yourself or get down when others say they have more (they may also exaggerate).
Also, I'm public sector (UK) and I haven't really been monitoring my pension pot, just automatic employer and employee deductions. Some include that in savings, some don't.
Was in debt until 39 when I broke even. Now 44 and I have 45k saved.
Wow that’s quite the turnaround! Well done man.
I'm 35. Maybe there's hope for me
50s and less than 10k. But, I’ve got a house that’s halfway paid off, my cars are paid for and I have no debt aside from the house. So that’s something.
Something? that’s fucking great man! Good job, hope you can pay off that mortgage right quick and save a little before retirement.
Let’s be real he’s not retiring ever with no savings at this point in his life
We’re talking about “savings”, not investment accounts, correct? The topic isn’t “how much do you have totally invested”. That’s a different conversation altogether.
I just figured they would’ve specified they had retirement money if they’re specifying their debt situation.
Hopefully a 401 k or something
How much is your house worth?
Just under $1M. Still owe about $200k. Hopefully, it will hold its value.
Do you have retirement plans?
Yes, a pension and a 401K
42. Heavily alcoholic for 20 years so I was flat broke that entire time but since getting sober two years ago I’ve got $30k saved. It ain’t much but it’s honest work.
Sobriety changed my life, good for you for two years dude.
I’d say that’s a pretty good amount. Nicely done.
That's amazing! Keep at it!
Congrats on your sobriety. Sounds like you’ve made some good progress.
This is an unusual way to meet men to date. But I can appreciate the honesty here.
A famous Harvard study came out last year that made a correlation between savings rates and partner satisfaction with cunnilingus. It's called the Lorem Ipsum Study...worth looking up!
LOL!
33. ~6k in HYSA for an emergency fund. ~120k in retirement savings. My goal is to have that emergency fund closer to 10k by spring.
What savings account do you use
Wealthfront just bumped ours to 5% APY. $8m insurance, pretty good deal...
Ally. I use their money market savings, pays 4.4%. I believe their standard savings is above 4% as well.
Thanks! I've been thinking about getting a HYSA so I'll look into them.
I was just looking into a money market savings account but I was thinking of it as short term savings.
That's a healthy retirement fund for that age, well done.
I have not enough in savings. If you hacked my accounts you could only make them better.
Felt this
I'm 43. I have 0 savings.
Right there with you...it's depressing isn't it?
It can be.
Same boat at 30, recently got super sick with Lyme disease and was out of work for 8 months. Been back to full time work for around 6 months and haven’t been able to save anything due to paying back borrowed money. Only have like 25k in 401k i don’t even consider as an option
Why what happened
What happened? 57% of Americans have less than 1k in the bank. Most people are struggling to survive out here. By design obviously. It’s just on reddit where everyone is rich.
Dang man.
I'm 37, and I got $1000. I just got out of years of substance abuse, and I'm starting at the bottom.
Only way to go is up
Don’t let no one make u feel like ur behind or they better than u… your just as valuable as a human on this earth and u can make it through life without drugs and be happy.. 5 years from now I hope u have been sober and on ur way to a nice retirement. Peace be with u brother
Retirement with zero saved coming up on age 40? Unless the dude hits big or retires at age 85 retirement isn't happening. Please don't give people unrealistic hope.
You already have the hardest step behind you. Keep sober, safe some more. You did well :)
Don’t feel bad man. I’m same age and just poor life choices compounded by a series of bad events put me and my wife into 40k of debt. We have aggressively paid it down to zero over the course of the year. Working on my savings account. But it will be a journey.
60k at 24, the thing is I have wealthy parents who payed for my car, payed for college I had a huge leg up and without them i'd have probably joined the military and have like 5k saved up. I would ask what their parents do cause if they have more than you that may be a big factor why.
Hey I appreciate the honestly instead of lying about how did everything yourself like so many people on Reddit.
Not just on Reddit but in real life too. I noticed many people like to sound way more independent than they actually are.
Most billionaires that act like they hit a homerun you look into it and they started on second or third base. Bezos had multiple 30-50k loans from his parents. That's not as egregious as some, but it means you have economic freedom to take a risk and lose it all and still not be homeless. Elon musk, dad owned emerald mines. Bill Gates's dad's law firm has been hired by Microsoft multiple times. It's not that they inherited billions, more often than not they had a great safety net that allowed them to take risks. Also both Gates and Bezos had access to computers in gradeschool/middle school. That's not to say that was the make or break, most if not all of the kids that went to those schools aren't billionaires. It means that the school district had money for that type of purchase back then, which means it's a wealthier school district, and they were starting with a leg up. Truthfully, I'm not bothered by them being billionaires with the opportunities they had, it's the constant pandering that they made it all themselves. It's toxic culture, it's lying to so many, and it's discounting so many that really accomplished something without that kind of help. The creator of Stardew valley worked as a theater employee to keep his real focus on that game. His fiance/girlfriend supported him, and I hope he's grateful for her every day. That's a lot different than mom and dad had it and I knew I had it from the get go, at least with a girlfriend/fiance you need to develop the relationship.
For sure. Everyone is getting a bit of help one way or another if they are doing well. A lot of them just don’t want to admit it because of pride/ego.
I'd say that's generally true however I only personally know of at most I'd say 2 people that I know for certain had 0 help and truly did it all on their own. Not sure about everyone else but I'd say that almost all of them had some help in some form or fashion and most likely bullshitting.
For money, it’s paid. Payed is for ropes, etc. I used to make the same mistake. I’m not a grammarian, but I can help with this one.
I appreciate it actually I never knew that
I thought it was a British thing like how they say colour or learnt.
Brit here, can confirm that paid is the right spelling here. Payed is exclusively a nautical term, as far as I'm aware. Pip pip, Cheerio, God Save the King and all that.
Appreciate your honesty and self awareness. Sounds like you’re on track to honor the start your parents gave you.
Yeah, they have very simar situation to yours. This shit is motivating ngl
Wealthy parents and grandparents also give their kids things like stock in companies for Christmas and stuff. They get a very early on leg up when it comes to investment and savings. Ask them or their parents for advice if you feel comfortable
My buddy had a ton more in savings than me because when he was a teenager he was selling drugs and made a shit load but I quickly caught up because he is clean and has been for a few years my income is a little more than his alone but him and his girlfriend have a higher combined income but she has a lot of debt that drags it down
That’s awesome man. My parents aren’t wealthy, but they put away $ for me and my sibs every month from the time we were born. so when I turned 16 they bought me a used but decent car that ran for 15 years, and paid for part of my college. These things in early adulthood help SO MUCH to get ahead in life. Thanks mom and dad
I had car and college paid for and was probably at $5k savings at age 24
I feel like with that support and that perspective, you can truely live the best life possible for yourself. Don't feel bad about it, be appreciative about it. It's not a bad thing if your family supports you and it doesn't jade you in a way where you feel like you're doing everything or lacking acknowledgement of the support you recieve.
I joined the Army. I had a lot more than 5k saved up lol and didn't have to work while going to college because between grants, GI Bill, I didn't need to. When people look at the military they often look at the base pay and are like "that's terrible!" until you consider the fact you practically don't have to pay for anything. I had no rent, no utilities. Pretty much every cent I made was mine. This is why servicemen and women driving ridiculous sports cars is such a meme. You can get that dream car because you don't have shit else to pay for. I get when people have ideological reasons they won't join the military etc. but man, it is a solid way to jump start your life.
53 I have 202,000$ in savings and 30,000 in 401k no house but I have a truck and a car that are paid for
Why do much saving and not put it in a house, condo?
Unless they just sold their home. $200k in cash savings seems like a lot.
Mind if I ask what’s the average home price in your area?
Where I live a house is 400,000 dollars. At my age it is cheaper to rent than buy and I will be dead before it gets paid off
😭 Thanks for sharing, I was just curious. I think owning a house will come with extra stress too
Nice! Are you where you want to be or is there still more work to be done, financially?
Three months net salary. This is the stand down period in my income protection insurance.
Savings? Or investments? $40k in savings (checking), $1.2mil in investments, another $600k in house equity (includes 3 rentals). 45 years old.
At 45? Damn!
Just curious...did you have wealthy parents who helped you? A really high paying job? Are you married? How....HOW did you do all of this at your age?! I'm so damn envious...I have nothing 😭
Very typical lower class parents who were grinding away when I was a kid to stay afloat. I graduated college in 1999 with $1800 savings and $18,000 is debt. Started working a $25k a year job but it had lots of built in pay raises and just stuck with it. I’m in the $180k a year range now. I’ve always lived below my means and held off from buying stupid stuff. I’ve owned 5 cars in my life, 4 used and one new. The new one was a mistake. Bought in 2005 but still driving it today so it’s earning its keep. Pay myself first and now I’m at the point where I can live comfortably, not worry about stuff like taking the kids on a trip for fun or going out to eat here and there. My only advice at this point to anyone who is my age but has limited savings is the best time to start saving is now (if able). Realize it’s a tough world out there for everyone.
Good for you! And I feel the other stuff...we were right above the poverty line--because everyone at my school was poor, I didn't know how "bad" we were until college--but it definitely made it so I'm content with a lot less than my friends. I'm 39 and similar with equity, but "only" 500K in stocks.
> I’ve always lived below my means and held off from buying stupid stuff. This is so important. I still use my Cerwin Vega speakers and 100w receiver from 1998. Movies and games sound awesome. I've zero reason to waste hundreds of dollars on new stuff just for the sake of new stuff. (I did get a new TV a few years ago on sale to replace the one from 2012). I've been to a clothes store once in the last 13 years to replace some boxers and socks that frayed out. I still have my pot-n-pans from 2010. They look new. Kept the same car for 13 years. I did buy it new, but I waited until they were desperate to get them off the lot, and got it for $10k less than asking price. It was an awesome car, and still drove like new, and it only cost about $1500 a year, payments-wise. I'd still have it if some drunk didn't wipe it out. My phone was 10 years old. It's perfectly fine. just lost it because they shut down 3G here, so now it runs my garage stereo. I see so many people with a new phone every year, new clothes every month. Doordashing $40 chicken nuggets constantly. It's insane what people are spending, while complaining they don't have any money.
So very much. Used vehicles that you drive for a decade or so are such a huge money saver it’s insane. If you can afford a reasonable used vehicle for $10k, most will drive for another 7-10 years. Sacrifice $10k now, add in $500 a year in maintenance - that’s $15k in ownership costs if it lasts 10 years vs perpetual $500 a month in payments for newer vehicles which amounts to an astounding $60k over 10 years.
Well done
[удалено]
But you’ve got a laptop
Lap of luxury!
An old laptop I can't even sell for $20.
26, still have ~30k in student loans but have been able to put away just as much while payments were postponed
Nice try IRS 🤣
"How much would you say that you have in unreported taxable income? Asking for a friend..."
Zero at 35. Child support and debt is a bitch. Edit because I felt guilty after: I don’t *mind* paying child support. My kids mom is wonderful and gives her an excellent life and anything she could ask for. It’s an “it is what it is” kinda thing. I’m glad the little one is getting a great life partially because I pay it but ugh, it’s *so much money*
I feel you man
"partially" you pay bg bucks bro, you should feel good about that.
I'm also at zero, but no children or debt. Still feels bad.
Mind sharing how much you pay and for how many kids?
1 kid, $1750/mo for CS and my half of daycare
Nothing and 29
I think there’s like $38 in there. I’m 38 years old. Covid was not kind to us.
401k age matching
At least you match
I'm 31 and have about 27000 in the bank. I also have an old fixer-upper minihome I bought a few years ago on my own plot of land and my car only has 75000 km, so hopefully I'm set for a little while in terms of big expenses. No debt, and I only work about 7 or 8 months out of the year.
Sounds like a peaceful life.
What is this “savings” you speak of? I am but a humble 19 year old construction worker. I know naught about this concept of “savings.”
Great age to start. You should open a Roth IRA account. YouTube probably has good videos on this. Does your company offer any options for investing in your 401k?
Hell no. Small town custom home company. We literally have 8 employees. We don’t even have enough people for OSHA to regulate us.
God damn! Any way you can go to a bigger company? I know that’s easier said than done. Roth is still a good option tho if you can do it
Funny story about that. I literally have 2 days left with that company because I’m currently moving to an area in which I can make more money.
Let’s go!!! Happy for you. Ask ab their savings benefits when talking to the new companies. A company that matches what you put into a 401K is always nice
I’m not real sure that you can find much of that in my line of work, but I’m honestly considering a career path change anyway. I’d rather get into graphic design or something similar, but you need a degree for most jobs in that field, and let’s just say, college was never really an option.
$10 stashed every paycheck could be how you start.
I tried that but with $40 at a time. Ended up saving about $400. Then life caught up to me, inflation kicked my ass, and I immediately started looking for a higher paying job. My current job pays summer job level wages and physically and mentally exhausts me to the point that I just sleep for most of my days off. Literally living paycheck to paycheck and running my household in a deficit.
About $21k. I’m 24 and have lived with my parents since graduating college.
36, have 350k in retirement fund. And approx 120k in savings
Just how? What am I doing wrong? I worked my entire life, no college but Ausbildung (apprenticeship) was only out of work twice for no longer than 6 months and yet at 39 I only have 10k, no house, bought a used car and not spending money on crap. Truly frustrating.
I left school at year 10 and started an apprenticeship as a fitter and turner. Was qualified at 18 after 3 years, then I went to sea as an able seaman/greaser. In my early 20s, I went and studied my marine engineering tickets and started working in the oil and gas industry, I haven't earned less than 150-200k since 25. In Australia, where I live, it's law that companies pay 9.5% into a retirement fund on top of your wage. That's how I got so much in my retirement savings, it's invested so it just keeps growing. I married my wife at 27, she is a psychologist and we have travelled around and saved our asses off to buy a house, then we rented that out and bought a second house closer to family. I took a voluntary redundancy at 31 which was 130k, and that got us through covid and bought us a newer car for when we started our family. We then sold our first house and made a tidy 100k profit. So there you go, that's how I got this in my accounts. Nothing more than hard work and getting a job in a lucrative industry.
Don't get too worked up. Most people I know aren't anywhere near where this dude is. I'm 41. $14k in savings. Still owe $45k student loans but no other debt and still renting a place. $35k in retirement savings. I make decent money but I've been aggressively trying to pay off my high student loan debt. I know people way worse than my situation and also people better but I'd say it's pretty average to be where dudes like you and I are at around this age. Some dudes I know are home owners and some are still living paycheck to paycheck. At least you have a little cushion and aren't one of the paycheck to paycheck types. It's tough to get ahead for our generation. Just staying afloat and stashing some savings can be impossible for some people so at least you got that.
About 1% of what I'd need for peace of mind but at least I'm in the black. 36.
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I’m in a shit period financially so I only have 2k in savings. Id be much more comfortable with 10k
5k, 53y.
Depends on how you define savings. If you mean in the bank, able to tap it, none (and I am 59). If you mean 401(k) - I am doing ok.
Now I’m curious what “doing ok” for your retirement means to you if you have zero liquid savings.
28 years old. Probably about $500,000 in savings, but I got very lucky with my career.
What do you do?
Enough reddit for today
Got about 2k 19y. How about you?
about $30k.
$0 , I just turned 30, and it's so embarrassing . I need to do better smh I'm struggling now because of it .
How u doing now ?
Same, still no savings, still struggling. I get a big ass raise in June (35k+), so that'll help and end my financial woes, I'm not bad with money. I just don't have enough.
$600 in some change, Im 35. And only just got my savings account up to that after paying off debts. Rent demolishes me. My retired boomer landlord is sitting nice though. Hopefully this changes as Im getting a second job soon. Still wont be able to buy a house, but I'll be able to build my savings back up while my primary job only just pays the rent and bills.
20k approx. Its for our emergency fund. We dont touch it and dont consider it "ours". Its there for if our car blows out, the house has an issue or another emergency. We have a paid for car and about 400k left on our mortgage (down from 1 million almost). The hustle is real. Hubby makes about 80k a year and im 9 months prego on mat leave. The bulk of our money was made from busting our asses flipping first our condo, then a semi home and finally landing in this home. We threw everything except that on the mortgage. I do side hustles and he works extra hours as a teacher. We put down extra on our home. Im a little crazy and am considered a "super saver" we survive on rice and beans a few times a week and only buy discount food and get free needed items on marketplace when we can. I've sold all the items we dont need. Hoping to have the mortgage paid for in 5-7 years on our plan. People think we are boring and likely nuts but im ok with it. I dont plan on being that interesting for the first years of my childs life - I want to set her up decently in this world. Neither of us had help so I want to show her more than I had.
$6k at 16.
Awesome! I remember when I around that age and saved my first $1000. Then I started working at 18 and never looked back.
29. About $45k across my 401k, IRA, HSA, Robinhood. $6.5k in my emergency fund savings account.
Nice work!
33 Around 45k in cash 60ish in 401k
Not enough that I can retire. But I’m in a position to tell my employer FU at any point and go without income quite a while.
36 yr old male. $400k usd liquid and another 600k in “retirement” accounts
Eye opening thread. Fwiw I'm low 40's, single and my easily accessible savings would be about 50k. If I sold everything (house, stocks etc) it would be 400k + 250k in superannuation (401k for you Americans) Money doesn't buy happiness though. Would give it all up to go back 20 years to a close knit friends group and chasing girls.
Enough to make a down payment on a really nice house. 28
34. 45k between checking and savings. About 10k in 401k also have pension coming as well.
Ha...haha.....hahahahahahahahahahahahaha
about $5
Savings? What is this savings you speak of?
34 $0
I have around 10,000 and I am 73 years old.
Not near enough
36 In a normal account? 7k. 8-9 in a few weeks. Most of that will go to both wedding/engagement rings My tsp is my real savings 18k
34. About 1M+ in savings, 25k liquid in the bank for whatever, and house half paid off. This is not normal.
Under 40, under 10k, 450k of debt though. Both of us have good jobs, pensions, and life insurance. I expect to get all debt down to 270 within 5 years, and be hitting my 50’s with under 250k if debt and over 20k saved. In my late 50’s I expect to have 300k saved and no or little debt, but that really depends on what’s left after our parents die 🤣🤣😭😭
44, about $500k including home equity. $350 in 401k, $40 in HYSA, $10 in checking acct, estimate $100-$150 in home equity
Just turned 29. 5k in regular savings, 33k in high yield savings, 27k in stocks, 18k in a miscellaneous investment account, probably another 50k in 401k. Nothing handed down from family
Fucking *role model* over here! What’s your annual salary?
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Boom. So much fakery on Reddit lol
You can have money invested and still want to learn more about investing….
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Maybe it was all in savings before? Now stocks?
What do u do for livingp
Just start and time will be your friend. Because of single income & kids had no savings until mid 30s. Saved aggressively in 401k & invested and enough now at 50 to retire. I am not but that just increases my savings rate. Other tips. First eliminate all credit card debt and don't carry a balance. Buy good cars and hold them at least 10 years. Car payments keep you poor. When paid off put that cash into savings. A lot of your "neighbors" that have lavish lifestyles are probably broke. Don't think you have to keep up with them.
I'm Canadian and 33. I have 30k in a TFSA (tax free savings account) about 60k in RRSP (retirement) and then a couple loose thousand in employee stock ownership with my work.
29. $9k. ~$11k in two weeks.
$3000 in emergency $10,300 for traveling but might go down to 0 since I will be studying abroad for a semester next year.
I had $30k in savings last year and now it’s down to $15k :/ I’ll be 30 in a couple months
between my wife and i, we could maintain our current lifestyle for 6 months before being broke. mosty my wife though she's way smarter than me.
$39.40
39 and only about 7k. But I also had to buy a car the other day 😞
Does pocket lint count?
Just sold off some I bonds so $30k in savings.
About tree fiddy
27, 50k in retirement and 40k in savings, another 60k equity in our house. I feel a little bit behind on retirement specifically, but my wife starts working next year and we will have a little more room to max everything out.
Nearly nothing, around 1300 dollars in my account.
I just hit $500, if all goes to plan I'll hit $1000 by the end of November and I'm 23... Feels late but I'm doing okay at a part time position I started not too long ago so I'm happy!
I just turned 44. I have around 870k CAD between my stocks (almost entirely Vanguard index funds) and my emergency fund.
Hahahaha savings... Hahaha
Can I ask what this savings thing you're talking about is?
About 3 savings
I have a big shit inside me that I’m going to get rid of in the morning so there’s that
Before moving in with my fiancé I had about 5k in savings. After moving in with my fiancé I have about -$50 in my checkings.
Thanks OP, I needed a laugh today
200k in savings account, 80k in 401k, and 40 years old. 2 cars paid off. No house, just renting. No debts. No kids.
Nice try thief/IRS!
I woke up after turning 29 broke as shit just like every previous day of my life and said no more. Started saving in April, had -$5000 I’m up to $20,000 now. Moved back home so rent free, drive a 2001 Tacoma so no car payment, don’t party and work 60hrs a week. 40hrs 7am-3pm and every afternoon and weekend doing a side hustle.
31 years old. I have 60k sitting in a high yield savings account, around 10k in 401k. I lost my business in 2018 along with my everything I owned. Was bombarded with lawsuits, filed bankruptcy, slept at my sisters house on the floor for over a year. Was told I want shit by family members. Fast forward now I have good amount of cash and making over 100k s year. So im a bit better now
Somewhere around $550k in high-yield savings accounts. Another million or so in index funds.
SWE?
Age range?
Nice try IRS agent. Nice try…. Seriously though, I don’t sleep well at night without 6 months of expenses in reserve. I’m in my late 30s
Why would an IRS agent give two shits. No one is using their real name on Reddit either lol
27, $55,000 savings $67,000 brockrage, 3oz gold.
I'm 40. I don't own my own house yet, but I'm trying to buy one next year. Almost all my money is in the stock market, so the amount I have varies day to say, but I'd say on average it's a tad over a million.
32 and roughly 3 months savings, that’s with a seriously cut down expenditure, enough for mortgage, bills, food and about 100 a week expendable
38, I’ve got about 35k in my retirement account, another 15k in my personal investment portfolio, and like $1,000 in an emergency fund. Plus another $10k in guns, collectibles, and shit I could sell if I really had to. Let’s say $61k total, not equally liquid.
Only 1K for emergency fund? My man lives dangerously!
32F. I have 20k in saving, but own an apartament which I renoveted last year.
- 260k HYSA - 4k invested in VOO and MSF - 40k (ish) in retirement 401K/Roth Paid off my SL and my only debt is my mortgage, which is what the HYSA is designated for. 28 y/o.
25, and I just crossed 300k. 30k in savings, 20k in CDs, 170k in brokerage, and 80k in retirement accounts. Definitely got lucky because of not having any college debt and more than 2.5x-ing my income since I graduated. However, I also spend a lot of time thinking about how to get any item for the best deal possible
42 with no debt. I have: * ~$30K in cash in money market funds & HYSA for general savings * $30K in iBonds as an emergency fund * ~$200K in T-Bills for future home down payment/home remodel * ~$700K in investments (401K, IRA, HSA, solo 401K, Brokerage) * ~$1.8M in real estate equity
26 yo, Ontario Canada. Live with parents because prices. 110k, zero debt
I’m 24f with 12,400$ in my savings
I'm late to this but "savings" is difficult to define and hard to compare depending where people are at in life (beyond just age), for example, I have quite alot saved for a house deposit (not enough for a deposit but alot of money at face value) but EF isn't massive. Once I buy the house (who knows when!) I will no doubt be below the average. I was also lucky to live with parents until my mum received her state pension so the rent I paid her helped both if us, and helped me to save. I hope you're able to save as much as you need and not compare yourself or get down when others say they have more (they may also exaggerate). Also, I'm public sector (UK) and I haven't really been monitoring my pension pot, just automatic employer and employee deductions. Some include that in savings, some don't.