How much money should you have saved and invested by your age? In this video, we will discuss some common rules of thumb that you can use to determine how much money you should have saved and invested at your specific age. Keep in mind that these are simply suggestions.
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Hi everyone. Please keep in mind that the ideas presented in this video are simply opinions. Everyone faces a different financial situation. Regardless of where you stand financially, it’s important to confront any issues or struggles that you may be facing. Be sure to subscribe to the channel and leave a like on the video f you want to learn more about personal finance and financial freedom!
Thanks,
Nate
Also that wasn’t to boast
Nate O’Brien Hey Nate just wanted to say thank you for all the great content you provide. I watch a ton of your videos and at age 19 I am becoming a lot more knowledgeable and can help myself invest in myself and for the future. Even though I am going to school for accounting and may have some loans to pay off this information is much more valuable than some of my lectures because it is practical and pertains to life style choices. I am using robinhood rn to help save my money through investing and I have gained a lot of experience that will hopefully pay off in the future. Thank you and I hope you have a great day.
Nate I have a question for you. You said “Saved and Invested” for a years worth of salary. So for example, if I need 20k a year to survive, I should have around 20k in liquid assets including things like stocks + real estate, or just purely in savings?
Just curious because I’m currently in college, and have around 6k in savings, and another 8k in stock holdings. My plan is to mostly just save until the end of the year and get to 10k in savings as well. Let me know what you think boss
People WANT to work—-
Things that they want to do
Warren Buffett is STILL WORKING
You do not discuss pensions, no debt, some people can retire on their pension! Does that mean that they have $2 million saved bc that retirement is being financed by the pension
I’m 16 right now and I’ve been researching a lot about investing for when I turn 18. would u guys recommend me to just invest, or split money between investments and savings?
I´m no expert but I´d say split it
Save enough money for your emergency fund before you invest your money in anything. Before investing, one must ask if you can live with its loss.
Thanks for the pressure
I am 21 years old and $300,000 invested in Real estate and $670,000 invested in stockarket
Is it good☺️☺️
I started e-commerce company at 18 years old and everything I made I invested not a single penny is wasted..
Hi Nate! Love your channel. What advice can you give to someone who wants to embrace financial minimalism but is quite social as well. I mean if friends want you to go out every week….
I dropped a dislike to unsupport the channel
Hit the dislike button on this comment
retire in Thailand, only need 25k p/y live like a king
My husband had $120,000 saved by age 24 through nothing but hard work and saving, since the age 16. He bought our first home at the age 25, we are now renting this home out and in the process of buying a second home. We’re both turning 30 next year. It’s all about being smart with money from a very young age! 😁
You and your husband have a very bright future.
I couldn’t agree more. Start from a young age, save, invest, and make your money work for you.
I unfortunately didn’t learn the investing part until later but was thankfully a good saver.
I started with a negative net worth of around 26k and quickly realize paying minimum on interest is the same has losing money.
Became debt free around 25yo, Open my first invesment accoint, IRA, at 26yo. I’ve been hustling and saving like a mad lad maxing all tax efficient account accessible to me (401k, IRA, HSA) . I got my first property @ 27yo, it’s currently rented and cash flowing $100/month.
Bought my second property @ 28yo, house hacking and I’m pay half of my mortgage.
Currently 29yo (turning 30 this year)
Even with my mortgage loans I have a net positive of over 180k.
This was achieve with just my income through diligent saving, investing, and being discipline on delaying gratification.
Had no partners or spouse. So I could only imagine how much more you guys are winning with support of each other.
Best of luck in your invesments!
Damn i gotta stop smoking lmao
I’m on day 2. It’s never too late to start bro
Financial Charles how’s it going now for you?
all these click bait cash youtubers are bullshit just save what you can in a ISA you can get good rates of interest depending on the rate
Hi Nate, so I’m following two types of channels, one is the minimalist saving wise people, the other channels are dedicated to storing and preping for when SHTF, building bunkers, storing food and amo etc. Both fundamentally different mindsets. Will your money be safe guarded if the economy tanks and what will you do if the SHTF for real as having nothing is the goal here. What if hyperinflation hits etc. Are you at all worried about the economy downturn or will you be able to ride it out. I’m just curious. I have a minimalist apartment for example, but I use my garage to stockpile water, food and emergency supplies, so to me its a bit of both worlds.
don’t you have pay-as-you-go retirement there?
at your age i was thinking about boys and clubs, not about retirement.
mow that i’m 49, I think that you should party as much as you can, while you can. when you are old, life is useless and painful anyway, why prolonging the agony?
I’m 16 years old and I have $4600 in the stock market and In the next 2 weeks I’m investing $2500 more
When you say invested – do you mean seperate from your retirement saving account?
You want to invest in stocks or accounts that will aquire interest so your money isn’t just sitting there potentially losing value but instead gaining value/ basically getting free money.
Do you attend NYU? You’re pretty bright, dude.
Penn State
i’m 18 and i got about 5 grand , i’m projected to hit about 80k in a couple years
Goal to retire before 55 and be a millionaire.
If I could go back and save more I would. I’m 21 with 20k saved up, but I could have so much more if I didn’t buy so much stuff. Live and learn! Act now!
I’m 23 years old, I’ve been saving/investing since around 20
I have currently
$5000 (exactly) in my saving account
$1,460 (On an app called Acorns)
$2,700 ( on multiple platforms dealing with Cryptocurrency)
$400 (investments into currency exchange)
I barely started working in a decent job, making about $1,700 a week. In West Texas providing logistics.
Every pay check these are my deductions
$470 – Car Payment
$170 – Insurance
~$150 – $300~ – credit card debt (780 score)
$65 – phone bill
~$250 – $300 – food/gas/necessities weekly
I usually end up with like $400 -$600 left and what I like to do is immediately just put like $200 into my savings, and invest the rest into crypto/stocks
I would say I don’t really live a very materialistic lifestyle. I don’t really have much care for designer clothes/shoes and stuff.
I do travel a bit and enjoy life tbh but honest to God most of my money just goes to food😂😂😂
Hope this could give some sort of insight and a perspective on my life/region.
If y’all have any more question just comment down below I’ll be here 🙂
Adog Afrog Yeah you’re right :/ I also forgot I have a payment every month also for Netflix/Spotify/Gym membership which is another like $60-$70
Adog Afrog I make about $4500 – $5000 a month bro after taxes
Resort you in the oil field ?
The Armed Bucks Sorta bro I provide data and logistics for a Frac company in the oilfield bro
Resort cool man, I’ve been looking into the oil field a bit. You have any suggestions for me? Good company’s to work? I have no oil experience but I do manual labor as of now in Wichita Ks. Thanks !
Ich bin 22 Jahre alt und habe 500 £ gespart
I am 24 and ive been working fulltime for almost 5 years now. Right now im studying and working at the same time and i make about 30,000€ in a year and i have saved little bit over 6000€ now, i should really try harder 🙂
23 years old student and my networth is 2x my expected yearly gross salary after graduation. Goal is 4x times that by 26 and 8x that by 30.
You have a good future! Aim for that financial independence. I’ll be a little behind you, will hit my 10x at 35 and my retirement goal at 45 assuming my income stays static.
Nate, I look at this as a 30 year ladder. Use your 20’s so you have more money for the retirement go go years. You can pay the house off right after retirement and/or be able to remodel. If I put 2400 a year in, I should be able to hit at least $30,000 at a 7% return. 11% is a high return. Some where around 9% is probably the most likely one. I am not putting any money in bonds ever because what ever money I put in will only be taken out 30 years later.
Get into a union. I make $21.31/hr as an apprentice and my contractor puts in $10/hr into my annuity, $10/hr into my healthcare and I have a pension plan. Go union.
I’m not Pro nor Con unions, but I am pro smart productive, motivated people so, go Eric!
Sounds like you have a good potential job and is headed for financial independence, make sure to continue to save and invest!
If you are retirement age and have 225 k… you are in trouble.
This reminds me of the book “the millionaire fast lane” . when it’s all over, congrats, you’re the richest person in the retirement home lol .. still great vid for most though
I LOVE that book
Thank you! Praying for a crash to get it at the bottom!
Time wasting video. You mention the same things again and again. Cheap talk without getting to the point until late in the video. Mentioned twice in a row how someone in their 20s might have a student loan. Really wanted to quit the video at that point. Didn’t start talking about the topic really until 5 minutes or so into the video. And then pulling magic numbers out of nowhere for specific age limits. Dissapointed really after having watched other video of yours. My opinion is that you make sure you get to the point without too much empty talking. As I said that is my opinion. If someone does not like it. Continue your day, please.
I am 19, and have just started investing in stocks (only about $500), I hope to put about 30% of my income in investments until I have a kid or until age 30.
I’m 20 with 10k invested
Whoisminh nice ! What did you invest 10k in ?
@Jaime Lara apple, Matt and ETFs. I’m at 18,300 now !
Whoisminh wow good job ! Keep it up
I’m 32 and I have 6 million 243 thousand saved 😘
How did you manage to do that? Great job btw
@Brianna Slark let’s just say I’m a man with unique and special needs. Mr. McKenna has been very good at fulfilling my needs. I am generous and provide fair compensate for fair “work”.
Excuses me, Now where is my latex gloves?
This is for average people, not savage business men willing to risk it all for millions. Life’s too short to play it safe.
I’m 22,
Have 6 months of expenses saved up (15,000)
No debt
Now saving for precious metals and a used car
I’m 21 and have 10K saved just started saving this year in May
i’m at 12.2K
KiD CARTiER 20 and 28k cant wait to hit 30k!
@Caracarabonitaa Congrats Caroline!!
Im at 14.5K right but hopefully will be at 17.6K or more by the end of the month
KiD CARTiER ty! YOU GOT THIS!!😍🙏🏼💪🏼
I think better advice would be to to gt used to living on half your income at an early age if possible and invest the rest. Doing that would mean being financially independent and retire early even in your 30s to 40s. I didn’t do that and I wish I had. Instead I wasted a lot of money and went on lots of trips around the world. I will be working until 65 but will be earning 75% of my expected income aged 65 with no mortgage or debt. I will be more than happy with that. BTW I just subscribed. You are an inspiration to all millenials
I have a salary of 1 cent. I found 10 cents under the couch. Set for life!
James C 😂
So if i’m 40 should i have 3x my annual salary saved from when i was 30 or from when i was 40. Because that makes a significant difference.
So I haven’t earned even a penny in my whole life yet…I’m 25…n nobody will hire me cuz I live in India n getting a job here is madness…so do u know anything about magically creating money or anything??..😅 cuz that would be amazing…then I also can “save”…
@Charlotte Balfour I pay for rent n food with my parent’s money. N I don’t ask for more money than I need for rent n food…so…
Wait first you’re really hot. Thank you for sharing your wisdom.
Median is not average the way you worded that was a bit misleading
1,25 times of my annual salary at 30, aiming for 5,5 times at 40 at least. Just started thinking about side hustles (reselling, real estate investing) and so maybe I’m able to push that previous numbers a little bit.
Before or after tax and stuff?!?
from gross
32 , roughly 1million usd net worth , aiming for 5 million by 40.
That’s awesome! I hope you the best of luck. Sounds like you have the discipline and intelligence to get there, it’s just a matter of time.
I only habe about 1/5 of your net worth @29yo. Your 32yo net worth is my financial freedom goal by 40’s. That’s assuming everything stays static. But gonna keep hustling, may hit my goal sooner!
@F. Rick Herr your not doing too bad yourself. My goal is 100k by 30 and you’ve crushed it.
Does “savings” include your home equity? E.g. your monthly home loan payment that builds up over time?
For a few years I focused on paying off the mortgage. Now I’m 36 and just 10 months salary saved.
I’m 20, have a 300k mortgage on a place in Australia
Right but you need to make sure what is your equity in the home compared to your mortgage loan to determine your actual net worth and potential to make a profit.
23 years old. Just hit $100,00 in my stock portfolio today! Looking into real estate now 🙂
Thanks for the Video! Sorry for chiming in, I would love your opinion. Have you heard about – Seyichael Underlying Superiority (should be on google have a look)?
It is a great exclusive guide for force the universe to give you money without the headache. Ive heard some unbelievable things about it and my friend Sam at last got excellent success with it.
This is easily my favorite personal finance channel
It is really meaningless when you misunderstood the difference between net worth and assets. The amount saved is asset. Not talking about debt means your treat people with zero debt with 100k saved/vested and people with 100k in credit card debt and 100k saved the same. They are not. Then every source you used in the video is about net worth. This is one seriously misleading video. People would think it is ok to leverage debt as long as they save, it is not. This is a disservice to the public.
I’m 29, I’ll be 30 in March 1 & Have 100k saved up. No kids, no debt. Where should I invest; stocks or real estate?
Why not both?
I split portfolio between rentals and growth mutual funds. My rentals cash flows me ~300/month. Right now the economy is booming so my returns are in the 25%+ for 2019 for my mutual funds.
My break down looks like this, 30%in real estate, 62% in stocks and mutual funds, the rest in high yield dividend and index funds.
My primary source of income is still my day job but I plan to become financially independent by 35 and will work until 45 then retire on my investments.
Good luck with your investments!
Real estate can be fun and generally provides a slightly better control of your returns but does require alot of up front work to find a deal and continual general maintenance.
Thankfully I have good tenants so they don’t really give me too much headache, and I’m also house hacking by renting out a room in my house to a family member. If you prefer to invest and not have to do too much work then I’d recommend looking into funds and stocks instead. You could alway purchase REITS if you’re still interested in real estate, just without the actual management and no equity return but you do get dividends and shares.
Ps we’re both the same age :D, I’ll be turning 30 a little later this year as well and also single. You’re headed on a very bright and successful financial future!
I started my investing journey when I was 26yo, open my first IRA, had ABSOLUTELY no clue what I was doing but put in my $5500 (max limit at the time). Fast forward, I’m now 29 (turning 30), bought my first home last year, and have about a net worth of over 180k(that’s including the mortgage loan aswell) , and completely debt free (aside from mortgage)
Don’t doubt your own ability to pursue your dreams and work to better your financial situation.
At the time I had about a 6k car note and a 20k student loan debt to my name.
Ps…I never did finish my college education and pursed a certification career in health care instead.
Ultimately it wasn’t that I had a high income or got lucky with stocks that allowed me to be in the positive, it was my savings rate. I’ve always been good about not spending money (due to being poor and fear of emergencies). It wasn’t until I decided to change my future trajectory that really allowed me to start making money. I continued to save, paid off all my debts (which in hind sight I could of kept the lower interest ones around) but instead I literally put away any extra income that was not necessary expense in total stock market index funds via my IRA, contributed at my part time job’s company Sponsored 401k and just lived below my means
Once you set a budget and start to optimize your spending, you’ll realize how much money you have left over.
Oh also just so no one thinks that my journey is not replicateable due to me having a “good job”.
I was working part time at a major chain retail store between 20-26yo and made minimum wage never exceeding 20k(that’s gross) of income every year.
I accumulated a 20k government student loan during the first two years following highschool when I stupidly attended an out of state university.
I moved back home and switched to a local Community College. I had a cost of $300/month for the room I stayed in, whom I rented from family member. I instead paid 2-4k every year based on the classes/credits I took at the community college.
Did this for 6years… Before I realize I was not academic enough to graduate and I didn’t need to impress others(parents) with a fancy degree.
Now don’t confused intelligence and academic, I just didn’t care for school, but I love education, so I took a different route to obtain a job which would fufil my future goals.
I only started to seriously focus on a profession from 26 onward and was very bless to land a job almost immediately. Granted it was with my personal effort which opened the doors of opportunity to this job.
I continued to live frugally as if I still earned at my part time job. There was alot of sacrifice and discipline but in the end I have become a better person with something to show for it.
I know there are many more impressive stories than mine, but I just hope this may encourage anyone who is on a similar path that I walked, who feels that they are down on their luck, like I was.
Also I am not married nor did I have a partner subsidizing my income with theirs. There is no secondary source of income I’m calculating into my numbers here. It was done through hustle, blood, sweat and creating your own opportunities.
Delayed gratification was practiced heavily.
Obviously I can now start to enjoy some of those amenities back, but the best thing I learned was where my personal discomfort limits are and I’m not afraid of pushing those boundaries to survive.
That’s very good but what about if you are die before the time?
I’m 21 from the UK and have over £75000 in my savings account, is this on track or not (NO DEBT)
I have $30,000 invested in stocks
i feel like a loser lol I’m 31 and have only $4800 I’m south african so our currency is well little and useless after corona i dunno lol
It’s very easy to throw around numbers. Forget about $200,000 just make it a cool million! is like someone claiming to have a great idea, and wants to sell it for millions. Ideas are not even worth a penny! the one that can take a good idea and bring it to actual fruition, and have others with money willing to support it, now you have actual potential. My point is, how about telling people how to make that actual money, rather than telling people that you really should be rich by middle age. Everybody who works, with no exceptions, has the goal of making the most amount of money possible. Sorry, I find the content pointless.
I’m 28 and have about 30% my annual salary invested in retirement. Wish I had more but my the time I’m 30 it should be about 50%.
Its the coffin mans group at the beginning
If you need to earn with the aid of micro tasking on line , a high-quality on line carrier that allows you to attain salaries From the net is with no doubt *One Biz Opp .co m* , No BS pips, this works.
nice one, Ardent
so Superethical
guy I think its Abiding
Wow its Bound
surely Endearing
Thanks Nate, I really appreciate your content!👊🏾
J
I have x7 times my annual income invested 700k. I’m 28. I’ve not been given money or come from a rich family I did have a roof over my head and food as a kid so I was grateful for that. But these figures are very inaccurate and depressing actually though, think at 60-70 years old you might take it easier… really.?? 60-70 if we live that long you wanna start by taking it easier. These numbers are not aggressive enough. I think schools should teach financial IQ. Instead of 1+1 is 2 and teaching kids to remember information and then regurgitate the answer in the form of a test to get a grade A+ 🤭. Rant over
great video
I’d kill to make $12 an hour 😅
I am 27 1/2 and my goal was 100k invested. I am glad I am aiming higher. I make 67k per year. 100k here I come
What do you do?
Almost 100 dollars saved….and bought gold and silver altogether for like 100….ik …its not a lot😔
I’m 22 and as of tomorrow I will have more than $3,100 in my checking account.
In my country we have a state pension so no worries there.. yeah we pay taxes yet we have a good living standard as well. Car. 2 trips a year. Apartment on a 40 hour a week job (no kids) , big gaming PC, I eat 2 hot meals a day that is 400/month on food alone. So no not at all poor. Yet we have all this options and we have state pension and state health insurance as well. Thank you to my country for not having to worry as much. Thank you too my countrymen for helping each other out and not only being from the same country to go go to war and kill other people 🙂 and yes I also save for extra pension as well. So there’s that breathing room as well. But ooooh it must be so evil and we are all sheep. Hahaahaahahaha. Funny. Go get sick in the USA and not have the ability to build up a pension then being yelled at get a job loser . Great country hahaha
Video starts at 3:26
Might die before retiring and not be able to enjoy it
I’m 21, I graduate next year with a bachelors in international finance and economics with Chinese. I have €9,500 in my bank account and have purchased 5 suits for work as well as quality sunglasses, ties, shirts, shoes and general clothes etc so that I won’t need to buy these again in the future. I don’t own a car and should be able to take public transport to work.
I also have a laptop, phone and a pc. I start my masters next year.
I plan on not having another girlfriend until I’m late 20s so if I want to get married I can. I’m frugal already and I cook for myself, I don’t eat out, I’m a teetotaler and I want to work to save. I just felt like sharing my life story here seeing as others do. I don’t understand how people have 100k at 18 and stuff, I’ve done multiple internships to save my money and I’m content with what I have and I don’t want to compare myself to other people who were lucky with their parents. I’m trying to set up a small online business this year and I also have another small business which makes me €500 cash a year. Thanks for reading.
I’m beginning to 🥰 u Nate. I already have a 401k at the age of 18. Bought my house at the age of 27. Now I’m 33 yo invested my extra money to Roth IRA, emergency saving, 2 target saving accts, and 401k. Trying to learn how to cook to save more 😆
Not helpful at all. This the second video that talks about unessairy things instead of the actual topic. Also it wouldn’t hurt to had thrown a number out there. Who cares its different salaries, how bout going with the majority statics like working class people.
20s- 500
30s-25k
40s-75k
50s-200k
60 and above 500k
The numbers random but i think you get the picture. Also they could include assets. A car you brought/own same with a house. Key word, brought/own meaning its paid in full. Else its not an asset.
As a grad student, I know this vid is about to make me depressed, lol.
Ye Small town suckersvill?
And Get some sleep Nate it shows on your eyes Mate?
I had to comment and say this . Thank you very much !!!!! You give wonderful advice and since i find your videos i totally change my mindset about how to make savings and invest. So thank you once again !!!
Im 18 and i have 40 grams of gold thanks to my mom managing my money
I’m 25 and I have invested only 2K in retirement since graduating last year with a low paying job. Unfortunately, I pay all of my family’s household bills and my debt too so I can’t save as much as I want. 😞 that’s why I’m going to do some side hustles.
Thanks Nate.
I’m 21 with 1k saved,$500 in stocks for investing and $500 for an ira am I below average
How to save money stay single till your 30
🙂
I have 30k in my investment portfolio and just turned 19 two months ago
Probably not a video for traumatized people. Childhood trauma is a disaster for being financially responsible and keep a good job for years…
I’m 15 with 10 k saved💯
I’m 15 and I currently have $749 and I make around $800 dollars a month what should I do
Age 30 – 1x salary
Age 40 – 3x salary
Age 50 – 5x salary
Age 60 – 8x salary
Age 60+ – 10x salary
If you have a job and still live with your parents at 20 and never went to college. There’s no excuse in why you haven’t saved 5 months of your salary’s worth. I know he said that’s okay because it depends on your lifestyle. But let’s be real. If you want that millionaire lifestyle. You got to do something about it to earn it.
Nate i really admire your talent…please ensure i save rm245k in my savings later.thank you..may god bless you..please ensure i buy a condo and invest invest in airbnb..you really an intellectual person… please ensure later i do airbnb biznez by having my own condo and do well and thank you for prayers.
🐈
kids loans omg what are those charaught
i often feel like i don’t belong to the majority or i’m just hungry
Think about the tax bracket. If your annual retirement distribution is less than $40,000, you’ll be taxed at 12%. If it exceeds $40,000, you’ll be taxed at 22%. Plus, the more you withdraw, the more the government taxes your social security income.
Depends upon your investments. Some annuities continue to accumulate for the rest of your life. Others stop accumulating as soon as you begin to withdraw. Read your contracts very carefully prior to signing them.
A $million will never beat the inflation of assisted living.
I’m 18 with 9k don’t have nonthing invested but will soon
does 224k that the average have saved at retirement include their living? like house etc?
Your last income * 110% 30 years ( 65 till 95 age). That amount you should have at your 65 age of retirement
It’s not about having the money, it’s about what you need to invest in to have a retirement plan. Money in the bank is useless.
I just love it when frat boys tell what I’m doing wrong with my life.