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AGE 20: Average Net Worth: $39,915
1. GET A CREDIT CARD
The point is to begin building up your credit score as soon as possible, and since 50% of your score is made up from your on-time payment history and how LONG you’ve had credit for…this is something you should do immediately.
2. OPEN A ROTH IRA
This will allow you to invest $6000 per year and grow your money COMPLETELY TAX FREE by the age of 59.5…meaning, by the time you’re older…everything is pure profit.
3. SAVE 20% OF YOUR INCOME
4. INVEST IN THE MARKETS
AGE 30: Average Net Worth: -$1043
1. GET A CREDIT SCORE OF AT LEAST 750
2. BE BAD-DEBT FREE BY 30 YEARS OLD
This means you’ve paid off any loans or debt that’s above a 5% interest rate, you don’t have any credit card debt or personal loans outstanding, and besides the possibility of a low interest rate mortgage or student loan…you don’t have anything weighing you down.
3. HAVE A 3-6 MONTH SAFETY FUND
4. AIM FOR 1X YOUR SALARY SAVED
AGE 40: Median Net Worth: $80,000
1. MAX OUT RETIREMENT ACCOUNTS ANNUALLY
2. MAXIMIZE YOUR EARNINGS
3. HAVE A BUDGET – NO MATTER WAHT
4. KNOW HOW MUCH YOU NEED TO RETIRE
The rule of thumb is that, for a 30-year retirement, you’ll need to have anywhere between 25 to 30x your annual spending INVESTED in order for that money to last you without running out.
AGE 50: Median Net Worth: $212,000
1. HAVE 7-8X YOUR SALARY SAVED, OR 10-12X YOUR EXPENSES
2. BE CLOSE TO PAYING OFF YOUR MORTGAGE
3. HAVE A CLEAR PLAN FOR RETIREMENT
AGE 60: Median Net Worth: $266,000
1. AIM FOR 10-12X YOUR SALARY SAVED UP
2. PAY OFF YOUR PRIMARY RESIDENCE
4. BEGIN WITHDRAWING FROM RETIREMENT ACCOUNTS
Obviously, this is only going to be a rough ballpark and some people may be way ahead or way behind this – but, that’s not important – it’s more important to realize that NOW is the best time to begin working towards these goals, and showing you that – the sooner you start – the easier it’s going to be…even if you’re not as far along as you would’ve liked.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
*This is a paid endorsement for Public.com. Offer valid for U.S. residents 18+ and subject to account approval. This is not a recommendation. You can lose money with any investment. Open To The Public Investing is a member of FINRA & SIPC. Regulatory and firm fees apply. See Public.com/disclosures/.
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
This was super helpful!!!
Good video Stephan
50000 $ a year yea i wish make 20000 $ year netto lol
PLUS ONE, NINE, SEVEN, EIGHT, SEVEN, FOUR, EIGHT, EIGHT, SEVEN, SEVEN, TWO..
@DegenMaximus why to talk a bout?
Everybody in these comments are already millionaires 😂
Thought it would be cool to compare, but being german is a headstart because you don‘t have to pay that much for college/university
I’m 16 what should I do
Hi Graham! Thanks for the vids 🙂 do you have a certain brokerage account that opening a rothira account with would be best ?
Graham: “Go open up a credit card.”
**ANGRY DAVE RAMSEY HAS ENTERED THE CHAT**
I’m in my 30s and I’m better than this..sweet!
If you make over 130k you cannot have a Roth IRA so yeah….
oh nice
dude i am so sad your video is targeting american like economies because in my country credit score and roth ira dont even apply
im 17 and have around 5 k invested. ik it sounds small but its all iv got lol
I’m going to use myself as an example for those of you in your 20s. I’m in my mid 30s now, if I would have started investing 10% of my income since I was 20 years old and earning at an average of 10% a year, today I would have had over $700k… I don’t have nowhere near that amount. So, DO NOT WASTE ANYMORE TIME. Invest, invest, invest!
I’m 31 and this makes me feel way better about my life and also confirms my husband’s claim that I have nothing to worry about – thanks!
The median income is more telling than the average income.
The elated top distally reduce because expansion regionally practise versus a madly server. unwieldy, tired nylon
Hey graham, what brand T-shirts do you buy and would you recommend them?
Graham made the call. The markets must move upwards.
When Graham says pokemon cards. I took that personally. 😂
I invest 70% of my paycheck and when I get the paycheck what ever made it I move it to my savings I dont have any bills maybe 100$ in parking and cellphone plus gasoline it varies. But I try to not use money unless needed yeah I have 30% of my paycheck which 20% its for necessary stuff gas,phone etc and 10% that I try not to use but it’s money for me to enjoy and if I dont use it to the savings account it goes
Thing is there is nothing like a roth IRA in my country and salaries are 1/3 of American salaries. I can save up to 30% of my salary but I need to live in a very, very frugal way and still I would save a lot less money than the average American in their 20s
I’m 21 and have 30 k saved. And 30 k invested
For the average income, are you referring to gross income or what you actually bring home??
me who is 13 and wondering if i can invest in a roth ira
45k for 20s?
way off dang
What if your joint income exceeds the limits to contribute to Roth? If I already have 401k do I open a traditional IRA as well?
how DU HECK does a 25 year make 40-50k a year? I am doing two jobs earning mayyybe 30k lol
Uncle Rey!!!
Does the net worth include your home because if the average 30 year old is only -$1000 that’s actually really good I’m -124,000 because of my house at 28
How can I invest when I don’t have my own house/apartment, not even have my own car
Is it really better to have 10-12x times your yearly salary in savings than paying off you morgage? It feels a bit off for me…. i assume it will depend on your interest rate to morgage rate but I would be surprised if that was the case
I am 19 and i want to open a credit card to start to get a credit score but my dad wont let me saying its just a credit card scam and idk what to do
how are you supposed to open a roth ira with no constant source of income at 18 also how do you get approved for a credit card with no source of income
This is advice for average people, not if you want to 10X your income and 10X your life.
If all theses people are horrible at managing money then why would you get a credit card when people are so comfortable with debt
Just turned 20 and this video made me realize I’m doing a lot better than I actually thought
How do I open a roth Ira
Are all these numbers assuming after taxes?
19 with 21k spread
I’m 18 and investing 80% of my income. Dab.
I love Graham but the problem with these types of videos is they do not take inflation into account. You’re telling a 20-year-old how much they need saved to have a good retirement in today’s dollars rather than in estimated future dollars in 40 years. That’s going to be a huge difference that you should really account for in these types of videos that would make it a lot more useful.
that’s why he speaks in percentages most of the time in this video, not numbers. example, ”have saved 10% every month,” or ”have 10x your income by the age of…”
all this people in their 20’s rocking it
and here I’am 21 in college with my networth being 000
What concerns me is that I’m in my mid-20’s with a net worth of -$341k with an income of ~$68k. I make more than the average 30 year old, but have a much lower net worth than the average 20’s lmao.
What if I’m 16
Rookie numbers. Just buy and hodl TSLA
Hahaha I’m in danger
Can he not say more than one sentence without cutting. This video must of taking hours to edit.
I say 2-3 sentences without edits :O
@Graham Stephan your english teacher must be proud
Perfect, I am 15 and investing
Graham- The average 20 year old has $39000 debt
Me- *has $39000 debt and is not in college!!!!
Play this video on 1.25 play back speed.:)
Comment
Graham, you’re amazing
28 with $600k+ net worth. Life’s good!
I’m 34 with 200k in debt (house, car, CC) and less than $500 in the bank….but been burning the candle at both ends to fix this..your videos definitely help, keep it up
Write your house off that debt, as long as you have positive equity, you should never consider it debt. Getting on the property ladder puts you above someone with 10k in the bank and no house, hands down.
@Djx interesting, so I’m more like 30k in debt haha I do have positive equity in the home…thank you 🙂
too much pseudo-jedi-like hand movements. Ima head out
The reason people like me have no interest in a ROTH IRA is because there is no satisfaction of having money at 59.(of course I don’t mean that to the fullest extent) lol Like by that time if I’m still alive my body will be so worn down and beat that I won’t really care. The idea of losing money now at a younger age to have more money at an older age doesn’t sound fun. Its too long of an investment.
I’m very lucky i opened my Roth IRA when i was 18, i can’t believe people only have 9k when they’re 25-29 XD oof!
So.. in the States… if you are 35 and have never had to get in debt to get by.. your interest rate is higher because you have no credit score?? (I’m from the Netherlands btw)
American moment
I’d be curious what the national salary average is among age groups when you remove professional athletes and celebrities to start with.
I want him to say “Guys, Graham, What’s up here.”
“Age 20 Average Net Worth” and “American Age 20 Average Net Worth” are two very different indicators. Are you referring to the latter with your numbers?
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.
15k
Can I own a Roth IRA if I make all of my money cash under the table?
No the IRS will find out especially if you don’t report any income at all.
@ScoobyDui whelp too late. I opened up one with fidelity. Guess time will tell
been investing since 18… best decision ever as to where I am at in my retirement.
I like that we make it sound like a mil is going to be worth anything by the time we retire. Yeah no I’m gonna need a couple mil probably
What’s the point of a Roth ira though, you don’t pay taxes on profits up to 40k for stocks held over an year in brokerage accounts already.
how do you handle the stress of staying on hold with the bank? I have punched 37 holes in my wall, but I saved a 3 dollar atm fee!
Would love to see a part two on this video going in depth on how to set these kinds of things up for everyone who is new, im 21 and am so thrown off by how much there is to offer when it comes down to long term investments. Love the video, would of loved to have seen the average hourly wage and career options when it comes down to younger individuals say with student loan debt. It’s so impractical to say roughly $400 a month for the rest of my life into a Roth, when I’ve got a $600 a month in loan payments, cost of living being well over $1500 a month. Car payments, insurance for all thing especially after you turn 26…… there just isn’t many job opportunities even into your 30’s that can support the normal cost of living and thats why everyone’s in debt statistically until they are well into their 30’s to early 40’s which just isn’t right in a life that’s so short.
Most times it amazes me greatly the way I moved from an average lifestyle to earning over $140k per month. utter shock is the word. I remember after i attended my first stock conference, i quit my job, sold my only rental apartment and never looked back although it wasn’t so soft with me then but so far i have gotten three rental apartment, own 20 carat vvs . I’ve achieved my dreams and dreaming it bigger this time. I have understood a lot in the past few months to doubt that opportunities abound in the financial markets. to be successfully require guts and focus.
Completely agrees with you, The major problem is that most of us tend to pay more attention to the shiniest positions in the market to the cost of proper diversification, however the fact remains that you can only win if you are not afraid to loose and this can only be achieved if you truly accept the risk in front of you.
I really acknowledge your comment, i recently started trade but i have not been able to make much, i am envious i’ve been in the red for too long. You seem to be doing very well for yourself, How did you achieve this?, I’d love to have a good retirement, any advice or recommendation will be appreciated.
You expect me to take financial advice from the voice actor of Goblins in WoW? Nice try.
is it better to buy stocks or ETFs?
I am 28 and have never had a high earning job, but have saved and invested. I have about $120k
I’m 14 and I just started
Lmao… I am 21 and have a house, car, and student loan debt. I’m like negative 300,000
I literally guessed 132,000😱
Damn, I feel better about being 25 and having networth of $200,000
For the salary saved up, does a 401k count in it?
When you watch a youtube video of something you do once a month and say “Hey, I’ve seen that webpage”!.
Needs more hand movement. Disliked. Jk
Nah i’ma just keep spending my money on fast cars and designer clothes swag
My net worth is around -$500,000. 27 year old pharmacist by the way :))
you bought a house im assuming
@ScoobyDui that’s almost half of it
With as much as this guy moves his hands and arms, he has to be Italian.
Uau, avg 20s income is triple the general avg in Brazil
That’s crazy my income is at 85-95k im 23.
question: are these numbers for an individual or for a married couple?
good video. try your best to invest for every age. don’t wait, don’t wast your time.
Great video! Graham talks with his hands alot…lol
He had me at pokémon cards ❤️
Im 14 and investing 😅
That’s pretty awesome! While kids like your age worry about new gadgets, toys and even the latest online games, you are there building yourself financially. Good job and I hope you continue investing. I wish you a brighter future and see you around 🙂
I’m 16 making 2$ per day 🤓💔
Another awesome video Graham! It was very entertaining and informative. Keep up the great content!
You are right! your explanation is easy to follow up. thanks
@harrison kelvin I’m becoming so confused due to the market fluctuations , i almost losing all the money I funded on my account trading what I don’t even have ideas
how can I directly reach your trader
@harrison kelvin Thanks for sharing, I will reach him now
I’m surprised you know him too! I’ve been making a lot of profits investing with him a few months now.?
I’m 52, is there any advice for people who are close to putting their kids through college? I’m new to investing beyond 401k and seems like most advice is for people in their 20’s. Can you make a video for people getting late into the investment game
Well I earned $ 1250 through James, had doubts about the process but glad I gave it a shot
645
Had to separate his numbers cos YouTube doesn’t permit typing them together
I’m no longer waiting for GRANT LOAN because I earn $60,700 every 10 days
*1178*
This is the kind of information that we don’t get from most YouTubers I will get in touch with her right now.
if you’ve started trading with her,then you’re not far from making profits,he has taken care of my account for months.i have 12 wins so far.
So a person have -700k net worth because he bought a home ?
Im new to this Channel Can sombody explain What Roth IRA is ?
ready to feel depressed in 3…2….1