Savings (Early 30s in NYC)
Roughly how much have you guys been able to save since graduating from college? Curious how much someone in their early 30s living and working in NYC should have saved (roughly)
It’s going to depend on what your career path has been so far, what your lifestyle has been, and how much you want/need in retirement (including at what age you want to retire). What you’ll need to retire will depend on what type of lifestyle you’ll want and how much debt (home) you have. I think returning with a steady income of $70-100k is probably enough, so need a few million saved.
This won’t be all that helpful, but I’m in early/mid 30’s, have been living in nyc, and have ~$6mm although mostly in deferred compensation and equity that isn’t immediately accessible. Outside of firm equity (which isn’t always straightforward to value), breakdown is $150k checking, $1mm home equity, $500k investments, $500k in retirement.
Although early on in my career it was very hard to save in nyc, most I was able to do was 401k stuff (tried maxing it out) and maybe $10k a year or so, it wasn’t until I got a few breaks and moved up in my firm that the income made it much easier to save a bunch.
Will keep it relatively generic, in cash (base + bonus, not counting equity or deferred) $1.1-1.5mm, with the variability in bonus as expected. As for my job I work at a HF (across multiple asset classes).
This guy fuks
LOL did you just start this thread to flex on everyone about your net worth? You had to have clearly known that $6mm in early/mid 30’s is extremely rare