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How do so many 25-30 year olds have over $100,000 in net worth already? Between the lack of jobs, low wages, and student loans one would think that a huge majority of 25-30 year olds are broke or have very little savings.
As you can see from this thread, there are many in that age group who have over $100k in net worth. I'm already in my early 30's, but my wife is still in this age group. We passed 6-figures before we were 25 and now we're closer to 7-figures than we are to 6-figures. We both have "normal" 9-5 jobs at large stable companies and are considered "high-performers" at our companies so we earn good money. We are not executive level and do not work in a startup or anything like that, so we don't make "crazy 1% money".
I've had some luck with real estate, having netted mid 5 figure gains on 2 real estate transactions which I invested in the stock market - that accounts for about $250k of my net worth right there. The rest of my net worth was accumulated through hard work and choosing a college major that leads to a lucrative career. I have another $200-300k in retirement savings through 401k and Roth contributions. I honestly don't know the balance off the top of my head since I only check it once or twice a year. Using the "set it and forget it" method from an early age has really helped my balance grow on auto-pilot without worrying how much money is coming out of my paycheck. I also have around $400k in liquid and illiquid assets (emergency fund and house equity). I'm currently working on increasing my after-tax brokerage balance so I can retire early.
I should also note that both my wife and I grew up middle to upper middle class, so both our parents paid for our college tuition. This has helped tremendously as I see some of my friends saddled with $1000/mo student loan payments.
Still, people have their an online identity here and anyone can go back and look at their posts. If it's someone who only posts once on the forum, in this thread, that's one thing. But if it's a regular poster here they may not want to provide details like that for people to bring up in other posts/forums down the road.
Bingo.
It's not so much this forum, but I prefer to not live such a public life where personal info is spread out on the internet PERMANENTLY for others to find. Do i see myself the subject of an NSA-type investigation? No, but as i watch more and more friends on Facebook post personal detail after personal detail online, I find myself taking the opposite approach. That's not to say I don't mention some things (before anyone goes searching to call me out on stuff).
To be quite honest, if i met you in person, i'd probably be more willing to tell you far more details that I'm willing to put up on the internet.
Last edited by BostonMike7; 12-27-2013 at 10:04 AM..
12/31/2009, No 401K, Net $2,000
12/31/2010, $3,000 in 401K, Net $5,000
12/31/2011, $8,000 in 401K, Net $10,000
12/31/2012, $20,000 in 401K, Net $30,000
12/27/2013. $42,000 in 401K, Net $100,000
I am 28, married for 7 years.
Both me and my wife came from broke family.
I started working since I was 13 (cash job, and I was mature look child at then..)
We were on our own since we were 18.
It's not so much this forum, but I prefer to not live such a public life where personal info is spread out on the internet PERMANENTLY for others to find. Do i see myself the subject of an NSA-type investigation? No, but as i watch more and more friends on Facebook post personal detail after personal detail online, I find myself taking the opposite approach. That's not to say I don't mention some things (before anyone goes searching to call me out on stuff).
To be quite honest, if i met you in person, i'd probably be more willing to tell you far more details that I'm willing to put up on the internet.
To be honest the data being up on the internet means little.. our story was plastered all over the cnn money magazine web site since 2006 and read by millions as well as hard copies of the magazine read by 8million purchasers.
It was published in fidelity investments magazine and mailed to 12 million account holders.
Bottom line is so what if they know our financial info. The salaries of every officer of a public corporation is published data.
For most folks being so hush hush about their financial situation there is not one valid reason they could come up with as to why its so secreative.
Its okay to feel that way and keep things close to the vest but just realize we all do this and few really have a valid reason for being so secreative.
To be honest the data being up on the internet means little.. our story was plastered all over the cnn money magazine web site since 2006 and read by millions as well as hard copies of the magazine read by 8million purchasers.
It was published in fidelity investments magazine and mailed to 12 million account holders.
Bottom line is so what if they know our financial info. The salaries of every officer of a public corporation is published data.
For most folks being so hush hush about their financial situation there is not one valid reason they could come up with as to why its so secreative.
Its okay to feel that way and keep things close to the vest but just realize we all do this and few really have a valid reason for being so secreative.
Also don't forget the salaries of any government employee is public information - local, state and federal (except for Homeland security, CIA, etc.). That's about 10% of the US labor force right there!
who cares though. it is what it is. as long as it is relevant to the conversation and means something in context i couldn't care how someone judges me and you shouldn't care either..
i worked hard to do what i did, i devoted alot of time and effort and took big risks.
do you know tuborg on the retirement forum still thanks me and although we didn't know each other at the time he remembered my article and he says i motivated him.
Last edited by mathjak107; 12-28-2013 at 02:56 PM..
We don't have a lot in our 401k (only about 15k). We are 26 and 30 years old. But, we are debt free, own our own home outright, and our networth is definitely over $100k so after the next year or so, we should be able to start contributing more. I'm not too worried at this stage since we are already ahead of the game in other ways.
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