Ideally, how much money should a 25 year old have saved up?
What are your goals?
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Personal goal: $175k - enough to go to b school without worrying about incurring additional debt
Define saved up. If you are talking about money in your bank account $0 after a 3 to 6 month living expenses buffer. If its not deployed making you money your shooting yourself in the foot.
Why are people on this site obsessed with success metrics? Stupid question. I know why. But it's still fucking annoying.
Because the fatter your wallet the bigger your dick is. Duh. Get with the program bro.
Would be extremely content with anything close to 100k. I plan on living at home for a couple years so my col will be minimal
Easily the saddest fucking thing I've read all day.
I'm from a pretty humble background and understand the sentiment, but I have to agree with you, Eddie. There are some lines in the sand that should not be crossed imo. A grown ass man with a job living with his parents is one of them.
To be honest, not that much. Optimal consumption economics suggests that you should have a good idea of your lifetime income and borrow (read: negative net worth) correspondingly to smooth consumption.
I mean, it's usually pretty much fair to say that you'll earn more later than you do now. People take debt as young adults all the time - student loans and maybe a mortgage are pretty typical.
Completely dependent on COL and student loan burden (and to a certain extent, how old you are).
I live in a lower-COL city and was lucky enough to graduate without debt. However, I was older for my grade and had only been working for 3-4 months when I turned 23. Some of my friends graduated with me but are nearly a full year younger than me, and didn’t skip a grade or anything. Assuming we have the same job for the same amount of time, they’d have nearly a year of extra savings in the bank when they turn 25.
I’ll alter the question a bit, and say after my first three years in the workplace, I hope to have saved/invested between 90 and 100K (not including 401K).
who cares man. i'm 25 i save enough for emergencies and 401k but other than that I like to go out with my friends and have good time. I'm not trying to worry if its in my budget to buy a round of fireball shots for all my buddies.
6-9 months of income should be saved, ideally.
Man, I remember when I got flamed by some try-hard Asian IBD kid like a year ago for not having "5 years of living expenses" saved up at the age of 22. Pretty sure Duff and flake told me to kill myself too... good times.
I don't remember that.
What is the average age in this forum?
17
Definitely an exaggeration.
I'd say 15.
hoping for 100k after 2 yrs as analyst, will graduate debt free and live in a low COL city on a BB IBD income so i dont think its an unreasonable goal
Was in a similar position... you will end up with much more than that without trying...
My goal is to get to enough saved by the time I am 40 that I don't have to work if I don't want and can live off interest.
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