What's your net worth?
Just curious how everyone's doing in the savings/cap growth game...
Also interested to know how you're managing your money
I'll start.
3rd year Analyst, BB, about 150k net worth, 25 y/o
Mostly in cash (sad, but no time to manage).. in a few mutual funds but that's it.
I actually thought I would be doing better by now but with taxes taking half of what I earn, and the cost of living in NY... not much left at the end of the day
Is that 150k all from your 2+ years in banking? That's a lot considering NY cost of living.
Well.. some are cap gains, some from day trading way back in college. I had also been fortunate enough to receive a full merit scholarship for college so I came out debt free. I also don't spend too much, no models and bottles for me etc.
that's quite good Rice. I like this thread. Especially because I feel people are really sensitive to discussing this topic in person. Why is this?
that's quite good Rice. I like this thread. Especially because I feel people are really sensitive to discussing this topic in person. Why is this?
3rd Year Trading Analyst 755K savings About 600K in cash, the rest in callable bonds
Where do you work??
He doesn't.
Troll...
Post from last spring:
College student $1k in savings ~$1k in checking
I like to spend my money while I don't need it :-p
1st Year Associate (2nd year this month), age 25, mostly cash, around $160k saved. Bonuses have been shit to non-existent since I started work.
poor, but last semester of school and rent paid for
beat that
Genesis where do you work? Surely not a BB? Gotta make sure I stay the fuck away...haha.
I don't think he's talking about the $160k but for the fact that you had a non-existant bonus.
-$150k... back in b-school and had significant exposure to highly opportunistic commercial real estate deals that are underwater.
Just to clarify, by net worth you mean the value of your assets and income?
Also is anyone here a homeowner? especially interested if you're an analyst
He means amount in your checking and savings account along with any money you have invested.
So basically when the chick who said she was 18 turns out to be 16, how much cash you can throw into a suitcase.
3rd yr associate (hopefully VP this year). $300k saved since starting out as 3rd yr analyst in 2007. again, no time to manage, all cash / equity trackers.
I've been working full time for 5 months, 23 y.o, networth = 20K...
20 months out of school. 70k in cash... need to figure out where to put it. Anyone have any suggestions? Can't trade on individual names for compliance reasons, looking for mutual funds/ETFs. Equity markets scare me.... feels like a big false sense of confidence leading to a correction.
Where are people putting their money these days, which mutual funds? Looking for a good HY Fixed Income fund if anyone has suggestions.
BillyRay,
I'd be cautious of fixed income funds at these levels. There are plenty of no-load funds out there that would be suitable for you.
+1. You may want to avoid the fixed income space.
Guys, max out your 401K and create a Roth IRA account to trade in.
135k from inheritance (not including paid off school).
2 years at a government job where I saved 30 percent on 50k/yr - and dumped it all in EME Asia from 2008 -2010 in my 401k. So call it maybe 45k now (maybe 40k).
Remember kids; savings rate in this country is 3 percent. If you can beat that you're money ahead! Also it doesn't hurt having rich dead relatives.
College Student - about 25k student debt, car loan, 5k credit card debt, 500 dollars in bank account, ~15k in brokerage
.
Did you mean you have 20K in savings?
Rice_seasoning, just curious - what have you been paying for rent in NYC?
WOW that's pretty high...1,800 a month on rent alone and you were still able to save a decent amount not bad.,..
You'd have to be living on a pretty sparse budget (or have started with cash from mom and dad / been given outsized bonuses) to have the savings you claim (unmanaged) with that rent...
Age 25 (26 in 1 month):
Assets: $222,923 Liabilities: $18,618 Net worth: $204,304
In 30 days when my development project is sold, net worth will be about $260,000.
Junior in college $(20,000) = Net Worth
$6,000 in the bank $1,800 accounts receivable $500 allowance for doubtful accounts $500 net property, plant & equipment
$17,300 loan from parents $10,500 subsidized loans from government
Why isn't your allowance for doubtful accounts netted against your Accounts Receivable? And where is your corresponding bad debts expense? And parents... uh oh.. we got related party transactions here... we want full disclosure Fastow!
(jk)
VP @ BB. Net worth: 520,000 and growing :) Graduated undergrad and and grad with no debt, thanks dad! lol
This comment will net you 50 PMs from kids looking for jobs...
Ha! Did not realize this...
12K in few select stocks 5k in a 5% CD - before CD rates fell to the floor 5k in savings College Junior without debt, and workaholic!
hey ihavetoomuchmoney:
Hire me!
Sincerely,
Monkeysama
PM me your stats plz
PM sent. Thanks!
age 21 net worth: approx. $750,000 $500,000 in real estate $125,000 in stocks $125,000 in cash
mainly from inheritance
niceee
Never enough! I'm just sorting my taxes right now and it's killing my numbers :(
I broke 6-figures total worth (well liquid cash) last year during college with a business I setup which was great. Hopefully can get fairly close to the magic 1m fairrrrly soon though, start as banking analyst in AUG...
-28 K...shitty, but it was -40K
I guess I'll play. Straight from Mint.com:
Credit cards: -$1,347.42 Student loans: -$30,850
Cash: $345.68 Investments: $1,867.37
Net worth : -$29,984.67
Ain't that special. Start working FO at BB in July...
Who else wants Patrick to post???
Hahaha get in here.
20yr old junior living with parents...
$40,000 - Cash value of life insurance policy (thanks dad) $16,000 - Portfolio
$500 - Checking
$56,000 net worth and decreasing
Tuition paid for through part-time work and daddy. debt free!
23 y.o. $9,000 CD's (leftover college funds) $1,200 401 (k) $1,300 checking $200 savings -$1,500 credit card
$10,200
No student loans (thanks granddad) Inheritance TBD
370k, 3rd Year Prop Trader
Paid off 80k of student loans from state school and being on my own since i was 17
Put 150 into S&P at 84.04 on the way down and another 80k at 104.64 after greek crisis. ~10k value of car. money is in other investments now though for the most part (varying investments -- large focus on international and commodity linked equities)
Where did you find $150,000 as a first year prop trader?
College Junior
9k CDs 3k savings No student loans or debt
12k net worth
2008? were u not paying attention? lol
haha i mean i was there, i just can't imagine having 150k as a junior analyst at the ready as soon as shit hit the fan.
1st year out of school. No debt.
App - $8mill (about 6mill in real estate and 2mill in equity and investments in private companies). Of Course this is all inheritance. Not going to manage it for a few more years.
Self made net worth - app $60,000 all in an investment account ( started day trading with internship money summer 09 and savings till then of about 15k)
savings account - 8k checking account - salary every 2 weeks.
I'm not one to be jealous, but I have to admit that this makes me sick. FML.
dude, don't believe that shit. he's a troll
Well, you have the appropriate username...
rock on
more than I need or deserve... but still a lot less than I want.
@alreadyrich: not a good way to make friends
This will be my answer no matter where I am in life
Advice request for an incoming analyst please!
As a starting analyst whats the max I can put into a 401k?
With the $ left over (if there is) should I be looking into a Roth IRA or some other type of safe mutual fund investment?
Paul,
I believe the amount is $16,500 and yes I would look into a Roth IRA. You can max out at $5,000/yr and it gets phased out as your income rises.
Thanks.
Considering most individuals seem to have a decent amount of savings, do you guys not max out at 16.5k per year for your 401k? Isn't suggested that I max it because of the free money you get for your employer match?
Also, I should max the 401 before I consider the roth correct?
Thanks again.
paul i think its 15.5 or 17k now i forgot which but if youre over a certain amt then you get diminishing returns on the deductible-ness of the IRA
6 mo out of school, $500 in debt (paying off a defaulted CC), 6k in 401k, 0 savings, checkings is 2 weeks salary.
consulting.
1st year analyst in NYC. ~$22K in a trading account in equities (contrary to popular belief, you can still trade individual names in IBD). A few hundred in checking account. Zero in a savings account or 401k.
Freshman Total fluctuates right around $42,500
$8000 in a trading account $12000 in Bonds- thanks Grandma $14000 in closed-end funds $8500 in savings and checking
I'd love to see it get to $50,000 by the time I'm done with Undergrad
I honestly don't believe in 401ks and IRAs. This sounds a little paranoid, but if you think about it it's basically true--they are simply ways for government to manipulate/socially engineer the population. As a soon-to-be full time entrepreneur, the rules are so favorable to small business owners that it'd be almost crazy not to take advantage of it, so I will. However, for everyone else, these retirement accounts basically take your cash--free or not, and most of it isn't--and turns it from a liquid to illiquid asset and ties you up in all kinds of red tape and bureaucracy the minute you want to do anything with it other than keep it in a fund that usually underperforms the market. I turned my IRA into a real estate IRA, which is cool, but there's more bureaucracy in it than you can shake a stick at.
I plan on working until I'm dead because retirement is the fastest way to a lazy mind and poor health (ever wonder why there are so many geriatric politicians who seem way younger than their age?).
i semi agree with vtech -- if you dont want to retire at 59.5 then it may be an issue. furthermore i cant contribute to a 401k cuz im K-1 and a member of my LLC but on the upside dont pay into the social security scheme. suckassssss. god bless gains on securities
You beautiful bastard.
My God a lot of you have inheritances/parents that paid for school... which is great. Sure would have made things easier the first few years + preparing (aka budgeting) for bschool. Hopefully I can do the same for next gen.
f*** all of you with inheritances
Agreed...
What is your networth? (Originally Posted: 03/23/2011)
What's your networth?
I'll start off by posting mine ;) If you're not comfortable posting thats fine :)
Age: 22 Job: Student Education: M.S., Target
Income: 0 Passive Income: $500/mth
Networth: 30k -Stocks: 7k -Cash: 23k -Fixed Income Securities: 0 -Roth IRA: 0 -Property: 0 -Debt: 0
This is gonna be a funny thread. In before 6 pages.
We had one of these threads last year..... no one with any significant amount of wealth is going to post there net worth.
negative something...
More than I deserve but less than I want. - International Pymp
exactly... my previous statement stands
about tree fiddy
Damn lochness monster!
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