Poll

What was your net worth at 30 years old?

Negative, I was still in debt!
$0-50k
$50-100k
$100-200k
$200-300k

Author Topic: What was your net worth at 30 years old?  (Read 74861 times)

K-ice

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Re: What was your net worth at 30 years old?
« Reply #100 on: October 30, 2015, 11:37:12 PM »
I was not near as far ahead as some of you. But due to lots of school 30 was my first real year working.

The year I was 30 I put 30K down on a rental property with my SO.

After seriously cleaning up that property, & with a bit more in retirement savings, I would say my net worth was just over 50K before 31.

FIRE_Buckeye

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Re: What was your net worth at 30 years old?
« Reply #101 on: October 31, 2015, 06:34:52 AM »
$379,000 - didnt vote as 300+ wasnt offered.

This calculator tells you your percentile http://www.shnugi.com/networth-percentile-calculator/
Just a caveat, the calculator is for household net worth, not personal net worth.
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boarder42

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Re: What was your net worth at 30 years old?
« Reply #102 on: October 31, 2015, 10:59:41 AM »
Not 30 yet (26) and about $190 all in, though much of this is in a retirment account not able to be accessed until age $65. Accessible net worth is $130.

there are many ways around this you dont have to wait til 65
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Chuck

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Re: What was your net worth at 30 years old?
« Reply #103 on: October 31, 2015, 01:29:30 PM »
Just turned 27 with a net worth of 125k (not counting home equity)

I need to up my game

Cranky

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Re: What was your net worth at 30 years old?
« Reply #104 on: October 31, 2015, 01:58:32 PM »
I'd say it was ... whatever we had in the checking account that month. LOL

Dh had just finished grad school, and we had moved across country and had baby 1. We had a falling apart car, no debt, and a lot of fun.

The babies are grown ups now, the car is new, the house is paid for, we've got plenty saved up, still no debts. And no regrets, either.

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Re: What was your net worth at 30 years old?
« Reply #105 on: October 31, 2015, 07:30:28 PM »
I'm 29 and have 90K right now, so barring a humongous market collapse I should be past the six figure mar by then.
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retireatbirth

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Re: What was your net worth at 30 years old?
« Reply #106 on: October 31, 2015, 08:42:24 PM »
About $20K. I had the bad habit of saving a good stash, and then going back to school, spending it to zero and starting over. Since I was single and a fairly good job, no car and a cheap apartment, I easily saved, but it was always with a spending goal in mind, never for retirement. Getting married to a very conservative lady changed that, and we started putting away about $50K a year.

That was my pattern, too. I had about 10k.

GuitarBrian

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Re: What was your net worth at 30 years old?
« Reply #107 on: October 31, 2015, 09:40:05 PM »
Just turned 27 so not 100% applicable. But, I thought I would throw it out there.

Currently 317k.


Thinking I'll RE ~30.

TheNick

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Re: What was your net worth at 30 years old?
« Reply #108 on: October 31, 2015, 11:56:52 PM »
@OP - Its kind of a pointless comparison to simply ask what your net worth was at any given age, simply because everyone's circumstances are different and sometimes the market does things you simply can't control.

Personally at 22 I had a net worth of 30k, worked full time making about 35k a year at the time, and went to school part time(paid cash as I went), had just paid cash for a 2 year old car with low miles so I had a reliable car for the near future, and still lived with my parents.  I put a good chunk of that money into a down payment for a condo so I didn't have to pay PMI or throw money away at rent(cost about the same to own as rent after the down payment).  Seemed like a great place to be at the time considering most of my friends at the time were getting ready to graduate college, had tons of student loans to worry about, and if they had a job, it was like an 8 dollar an hour part time gig.

Fast forward a couple years and the real estate market crashed and the economy tanked.  My condo that I had paid 85k for, that I could have sold for 90-100 a year later, was now worth about 40k.  It really sucked at that point having a net worth of around 40k and suddenly I'm back down to 0.  I ended up graduating around this time as well...only the economy was crap and I was having a hard time finding a job better than what I already had, so I went back for another degree...not really where I wanted to be in my mid-late 20s, but I just hadn't been able to catch much of a break anywhere even though I was working hard and most of my money to date went to real estate and education.

Fast forward again a few more years to 30...my net worth was probably only around 40k at this point.  This was definitely a lot lower than I had wanted it to be...but 30 was the year things really turned around for me.  The value of my condo had recovered a bit and after 8 years of rents increasing and my mortgage getting cheaper thanks to a refi, I was now living in a place and building equity(instead of trying to not be underwater anymore lol) that costs 600 a month vs 800-900 renting something similar in the area.  I was totally done paying for school with no student loans whatsoever to pay back.  Best of all I finally landed a better job that literally tripled my income.  I went from 40k a year to about 90-100k this year, and next year(first full year at the new job) I'll be 120k+.

So here I am now...at 31, with a net worth of 100k, a six figure income, and a monthly expenses of around 1200 a month.  I was in crappy shape when I turned 30, and now, even though my net worth isn't stellar for a 31 year old mustachian(although its ridiculous for your average 31 year old) I'm in a pretty awesome position.  I'll probably pay off the condo this year which will cut my monthly expenses to below 1000 a month.  I'll literally be able to live off 10% of my gross, and if I want to buy a house in the near future my condo just becomes a paid off rental property, plus all the time I had spent in a lower paying job thankfully had built me up a significant chunk of time in a pension fund, so even though I wouldn't really count that towards my net worth its still some extra retirement income I'll get to enjoy when I'm 64:)

Had my only goal been to have a high net worth at 30 I'd have never gone to college.  I'd have just gotten a part time job on top of my full time job instead of going to school, and invested all that extra money.  Had I done that I probably would have been around 300k by 30...but ultimately I'd have ended up being 31 making 50-60k a year at a job I hated with 300k net worth instead of being 31 making 120-140k a year at a job I enjoy with 100k net worth, and I'd still be doing labor work beating on my body instead of what I do now that doesn't involve any repetitive or heavy lifting.  Its just like people on here who have gone to school for law or medical degrees.  I don't think they mind their net worth sucking at 30 when the only reason it sucks is because they spent 8-10 years getting to a point where they could actually start their career and had lots of student loans to pay back.  Much like my situation they all could have been doing better at 30 if they aimed for that, but would they have been better at 35 or 40?

Plus we have some other factors that basically make comparisons pointless.  I know plenty of people who had parents or grandparents that are(were) very well off and were gifted/inherited significant assets and/or had college paid for.  I think its awesome when people have 300k+ by 30, but its really not serving any purpose to compare someone who was maybe handed a house and had their college paid for to someone else of the same age who had to pay for those things on their own.  My living grandfather, whom I hope has many, many happy and healthy years left to go, is a multi-millionaire, and plans of splitting it between his grand kids when he passes away as his kids are all doing well for themselves.  I could very easily inherit several hundred thousand next month if something happens to him, but I don't think it really makes me good at handling my finances or a better mustachian because I might end up 32 with a 500k+ net worth even though most of it was just handed to me, just the same as if he had died when I was 30 and I had a 500k+ net worth at 30.

I'd think the best measure of comparing your mustachian skills, way more than net worth at any given age, is what is your savings rate?  At least then things are being compared that we all have to work equally hard at...our spending habits and our income, and ultimately its the people who can master these things that are the ones who will have successful early retirements.

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Re: What was your net worth at 30 years old?
« Reply #109 on: November 01, 2015, 01:38:02 AM »
@OP - Its kind of a pointless comparison to simply ask what your net worth was at any given age, simply because everyone's circumstances are different and sometimes the market does things you simply can't control.

I think threads like these are more about sharing life stories, and much less about strict comparisons. You told your story, and it was interesting. I enjoyed reading it. Might never have been able to, without this thread.

My network at 30 was 75-80k. Didn't start tracking until I was halfway through my 31st year. HOWEVER, I logged into Mint to check my NW history, and I'm sitting at 300k for the first time. W00t! I'm all proud of myself.

pancakes

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Re: What was your net worth at 30 years old?
« Reply #110 on: November 01, 2015, 01:47:13 AM »
I'm a little shy of 30 and together with my partner we have  a worth of $185k . This is excluding superannuation and student debts because the requirements around these two items in Australia gets complicated.

Sometimes I think think we are doing great, other times I think of the lost opportunities.

At the moment we are only really growing our wealth by way of savings as very little is invested in anything other than high interest savings accounts (is 3.5% really high interest???). I'm terrified of investing and hope that perhaps by loitering around here I'll gather some courage.


arebelspy

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Re: What was your net worth at 30 years old?
« Reply #111 on: November 01, 2015, 02:27:10 AM »
@OP - Its kind of a pointless comparison to simply ask what your net worth was at any given age, simply because everyone's circumstances are different and sometimes the market does things you simply can't control.

There's problems with every method of comparison.  Only by looking at many of them can you get a good picture.

For example:
Quote
I'd think the best measure of comparing your mustachian skills, way more than net worth at any given age, is what is your savings rate?  At least then things are being compared that we all have to work equally hard at...our spending habits and our income, and ultimately its the people who can master these things that are the ones who will have successful early retirements.

Can there be someone with a 40% savings rate who's way more badass than someone with an 80% savings rate?

Absolutely, IMO.

Someone who can save 40% of their 30k salary (spending 18k, saving 12k) is way more badass than someone who makes 5MM, spends 1MM of it, and saves 4MM (for an 80% savings rate).

It's always about the story behind the numbers.  It's also about taking charge and being badass regardless of what circumstance you're in.  I graduated into the recession, with tens of thousands in student loans, as a teacher, earning in the low 30 thousands, with our pay frozen for years due to budget issues due to the recession, etc. I went underwater on our condo much more than yours (and still am), and underwater on another house on top of that.  Very negative net worth.  The way to think about it though: it wouldn't be a good story if it was easy and boring the whole way with no obstacles!

Thanks for sharing your story!  :)
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Davids

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Re: What was your net worth at 30 years old?
« Reply #112 on: November 01, 2015, 06:36:07 AM »
The only thing I will say is do not get discouraged if your number is lower than others, everyone is different, everyone started differently. Also how is everyone measuring their net worth, some measure it differently than others. For example I do not include the value of my car in the asset column but others do.

Tabaxus

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Re: What was your net worth at 30 years old?
« Reply #113 on: November 01, 2015, 06:49:10 AM »
To be fair, the view that workforce + X would be a more consistent way of looking at this isn't really right, perse.  It can illustrate just how bad some college/masters/PhD decisions can be (late start, not great income at the end), and how much catching up  doctors and, to a lesser extent, big firm lawyers, generally have to do (very high salaries but very high debt and pretty late starts, even if you go "straight through").  Just a different way of thinking about it.  MMM was FIREd before some people here can even start their careers, and that's food for thought.

I'm about to tick over to 31.  Been in the workforce for 4 years and a few months.  Started at ~-$160k.  I'm at ~$300-330k now (depending on whether I tax-adjust my 401k).  Single-income dual-person household (spouse is finishing Ph.D).  My pay is likely to crater within a year or so; spouse will pick up an income at about the same time, but combined isn't going to be anywhere near what I was making myself, so I'm glad we at least set some aside.  A significant chunk of it will shift from liquid to a house down payment around the same time. 

FIREby35

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Re: What was your net worth at 30 years old?
« Reply #114 on: November 01, 2015, 06:58:59 AM »
The only thing I will say is do not get discouraged if your number is lower than others, everyone is different, everyone started differently. Also how is everyone measuring their net worth, some measure it differently than others. For example I do not include the value of my car in the asset column but others do.

Also, don't forget about the selection bias - we are Mustachians afterall. The rest of the world is probably far behind this group!

pancakes

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Re: What was your net worth at 30 years old?
« Reply #115 on: November 01, 2015, 07:10:37 AM »
To be fair, the view that workforce + X would be a more consistent way of looking at this isn't really right, perse.  It can illustrate just how bad some college/masters/PhD decisions can be (late start, not great income at the end), and how much catching up  doctors and, to a lesser extent, big firm lawyers, generally have to do (very high salaries but very high debt and pretty late starts, even if you go "straight through").  Just a different way of thinking about it.  MMM was FIREd before some people here can even start their careers, and that's food for thought.
I spent a lot of time and money on education. I don't regret it because there is no point, I don't get a do-over of my 20's and I wouldn't be the person I am today had I not had those experiences. That said, I'd be financially a lot better off without it.

iwasjustwondering

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Re: What was your net worth at 30 years old?
« Reply #116 on: November 01, 2015, 07:32:40 AM »
My net worth at 30 was probably -30K.  I had grad school student debt, still, and had just bought a house, started a consulting business, and had my first son.  That was 15 years ago.  My net worth right now is around $500K.  It took a while for me to figure it out.  I wouldn't do well in the dick-measuring contest referred to above, I guess, :)


Tabaxus

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Re: What was your net worth at 30 years old?
« Reply #117 on: November 01, 2015, 08:29:44 AM »
To be fair, the view that workforce + X would be a more consistent way of looking at this isn't really right, perse.  It can illustrate just how bad some college/masters/PhD decisions can be (late start, not great income at the end), and how much catching up  doctors and, to a lesser extent, big firm lawyers, generally have to do (very high salaries but very high debt and pretty late starts, even if you go "straight through").  Just a different way of thinking about it.  MMM was FIREd before some people here can even start their careers, and that's food for thought.
I spent a lot of time and money on education. I don't regret it because there is no point, I don't get a do-over of my 20's and I wouldn't be the person I am today had I not had those experiences. That said, I'd be financially a lot better off without it.

Yeah, I don't regret my education either, and I met my spouse because of it so it really was the best thing that ever happened to me.  Ended up working out for me financially, too, because I hit the big firm lottery out of law school, but that very easily could have had a very, very different outcome (especially graduating in 2011).  If I hadn't hit the lottery, I likely wouldn't have met my spouse (I would have been too focused on how the hell I was going to survive) and, financially, I would be completely without redemption unless I had managed a government job (unlikely--they're as hard, or harder, to get than the firm jobs). 

Abe

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Re: What was your net worth at 30 years old?
« Reply #118 on: November 01, 2015, 08:46:44 AM »
I don't regret my 4 years college + 4 years medical school + 5 years general surgery + 2 years fellowship training. It's allowed me to do a job I enjoy and is meaningful for society in general (which is more than a lot of jobs these days). Yeah I'm 30 and still earning half of my friends in IT, but that'll quickly change and I'll be my boss for the most part. I don't think this is a contest, dick-measuring or otherwise. It's interesting to hear other people's stories.

Spork

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Re: What was your net worth at 30 years old?
« Reply #119 on: November 01, 2015, 10:18:30 AM »
@OP - Its kind of a pointless comparison to simply ask what your net worth was at any given age, simply because everyone's circumstances are different and sometimes the market does things you simply can't control.


I don't think it's pointless at all.  If the OP is 30-ish and feeling discouraged, all it takes is a quick look through the posts to see there were a plenty of folks that were net worth zero (or negative)  at 30 that managed to make it to the finish line.
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Re: What was your net worth at 30 years old?
« Reply #120 on: November 01, 2015, 11:49:22 AM »
When I finally figured out he was a permanent student and he didn't really love me I was around 35. After the divorce and losing half of what I had I was really able to start saving aggressively.  I met someone wonderful who has financial ideals in line with my own and who loves me like I always wanted. It's been a wild ride but now at 39 I'm approaching 500k in net worth, I'm in a great relationship and I can see early retirement in the near horizon.

This seems to be a common thread here. Is losing half in a divorce really that common? Don't divorces ever end with both parties accepting what they had and walking away clean?

K-ice

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Re: What was your net worth at 30 years old?
« Reply #121 on: November 01, 2015, 01:06:34 PM »
When I finally figured out he was a permanent student and he didn't really love me I was around 35. After the divorce and losing half of what I had I was really able to start saving aggressively.  I met someone wonderful who has financial ideals in line with my own and who loves me like I always wanted. It's been a wild ride but now at 39 I'm approaching 500k in net worth, I'm in a great relationship and I can see early retirement in the near horizon.

This seems to be a common thread here. Is losing half in a divorce really that common? Don't divorces ever end with both parties accepting what they had and walking away clean?


Yes, loosing 1/2 your stuff is common unless you have a prenup. Often what you had before can be sorted out but anything you earn, or debt you accumulate, during the marriage usually gets split in half.

I know a woman who was stuck with big student loans. She was the student so they were in her name. But her DH bought an SUV. 300$ shoes, many other toys. $90K debt in 3 years. All the toys were his as far as I could tell. He has a job making about $40K. She was in grad studies so about $20K.

They were in a low cost of living area, but rented one of the more expensive apartments. They never should of had that much debt.  She was a bit complacent & benefited some from the luxuries but purchasing them were not really her choice.

I don't recall if she got stuck with half the debt or all of it since it was in her name.

Sometimes you are lucky if you can split assets instead of debt!





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Re: What was your net worth at 30 years old?
« Reply #122 on: November 01, 2015, 01:37:15 PM »
I think just about positive NW when I turned 30. Don't regret it though - travelled around the world. Plus started off in one of those high income tax European countries, so a lot less to save to start with.

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Re: What was your net worth at 30 years old?
« Reply #123 on: November 01, 2015, 02:23:06 PM »
When I finally figured out he was a permanent student and he didn't really love me I was around 35. After the divorce and losing half of what I had I was really able to start saving aggressively.  I met someone wonderful who has financial ideals in line with my own and who loves me like I always wanted. It's been a wild ride but now at 39 I'm approaching 500k in net worth, I'm in a great relationship and I can see early retirement in the near horizon.

This seems to be a common thread here. Is losing half in a divorce really that common? Don't divorces ever end with both parties accepting what they had and walking away clean?

Often what you had was not very much, so half of what was earned after IS half.
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Lski'stash

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Re: What was your net worth at 30 years old?
« Reply #124 on: November 01, 2015, 05:49:16 PM »
Just saving this to reference when I reach the big three-zero. I still have a year and a half left before 30.

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Re: What was your net worth at 30 years old?
« Reply #125 on: November 01, 2015, 11:24:29 PM »
Mine at age 30 was in the negative at -$16k. Today, at 42, it is $445,000.
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Re: What was your net worth at 30 years old?
« Reply #126 on: November 02, 2015, 03:56:32 AM »

I know a woman who was stuck with big student loans. She was the student so they were in her name. But her DH bought an SUV. 300$ shoes, many other toys. $90K debt in 3 years. All the toys were his as far as I could tell. He has a job making about $40K. She was in grad studies so about $20K.

They were in a low cost of living area, but rented one of the more expensive apartments. They never should of had that much debt.  She was a bit complacent & benefited some from the luxuries but purchasing them were not really her choice.

I don't recall if she got stuck with half the debt or all of it since it was in her name.

Sometimes you are lucky if you can split assets instead of debt!

I knew a couple when I was in my twenties and she took on his £20k credit card debt and they were both still spending on them and she got stuck with it after they split up. He was quite obviously cheating on her too as well as having a very expensive weed habit so I don't know what she was thinking!

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Re: What was your net worth at 30 years old?
« Reply #127 on: November 02, 2015, 06:04:02 AM »
Someone who can save 40% of their 30k salary (spending 18k, saving 12k) is way more badass than someone who makes 5MM, spends 1MM of it, and saves 4MM (for an 80% savings rate).

I'd disagree.  The guy making 5m a year obviously did something badass to be making 5m.  He's got a higher savings rate and is just flat out saving a massive amount more.  Yeah...the guy who is earning a low salary and running a surplus is still a badass compared to people with similar incomes...but the guy who just banked 4m in a year has won the game.  At the end of the day if your goal is to replace x% of your working income with passive income, as long as X remains constant between two subjects, the one with the higher savings rate is going to get there first every time...and chances are lower income earners will have a higher x and higher income earners a lower x.

It's why I'd look at both sides of the equation if I wanted to compare myself to others.  I'm not really impressed by someone who is super frugal living off 15k a year if they only make 15k a year, and I'm not really impressed by someone who is a super high earner making 5m a year if they're spending 5m a year.  In the end the higher your savings rate means the faster you will be able to passively replace your working income, and the double win comes in the form of if you are a high earner who is only interested in replacing a small % of your working income because you live frugally as well.

mr_orange

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Re: What was your net worth at 30 years old?
« Reply #128 on: November 02, 2015, 06:40:01 AM »
I'd disagree.  The guy making 5m a year obviously did something badass to be making 5m.  He's got a higher savings rate and is just flat out saving a massive amount more.  Yeah...the guy who is earning a low salary and running a surplus is still a badass compared to people with similar incomes...but the guy who just banked 4m in a year has won the game.  At the end of the day if your goal is to replace x% of your working income with passive income, as long as X remains constant between two subjects, the one with the higher savings rate is going to get there first every time...and chances are lower income earners will have a higher x and higher income earners a lower x. because you live frugally as well.

+1

The guy making $5M/year could also adjust his spending habits quickly if he was spending $1M/year.  I'm not sure why he would be less "badass" (whatever the hell that really means) than those spending very small amounts.  I think you have to impute the social and environmental impact of the person spending the larger amount to get the MMM dogma of "badassity" because it doesn't make any sense from a purely financial standpoint. 
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Re: What was your net worth at 30 years old?
« Reply #129 on: November 02, 2015, 07:07:16 AM »
Not quite 30 but will be there next year.  I voted negative becuase I still have debt and my wife is returning to college in January which will slow down the savings/debt paydown as we will be paying cash for her classes.

Some of you are very impressive! For those of you with over $500k, what were some of the things you did to get there?

For me personally, (a) getting rid of debt, (b) consistently saving into my 401k from the start of my career, (c) aggressive allocation in 401k, (d) making more money (i.e., promoting consistently in my job), (e) some luck, namely, we bought our condo at a very good time in a very good market, (f) finding MMM and spending more wisely.  It's not rocket science -- just be consistent.

dorothyc

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Re: What was your net worth at 30 years old?
« Reply #130 on: November 02, 2015, 07:10:08 AM »
I'm older than a lot of people on these boards, and I was 30 in 1990. I graduated with no student loan debt into a very tough job market in 1982 and went into an administrative job for local government that paid about 5,000 GBP per year. At 28 I retrained to computer programming and more than doubled my salary to 11,000 GBP, and imigrated to the US in 1991.
My ex and I had a combined net worth of about $5000 at age 30 but were on the brink of making great salaries here. My ex wasn't a saver, but since our divorce in 2000 I've been able to climb to a net worth of over 500k, even after a divorce settlement after selling the former family home recently, once our kids graduated, when he got a quarter of a million.

I've been careful with money, but haven't done anything spectacular. Putting the most I could afford into my 401k, and buying a home in Los Angeles in 1997 and selling it in 2015 have been the bulk of it.

BBub

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Re: What was your net worth at 30 years old?
« Reply #131 on: November 02, 2015, 07:22:08 AM »
The idea that income level doesn't matter is quite ridiculous.  Sure, it's an inspiring and motivational idea, but in reality a big income is lighter fluid in the quest to FIRE.  For someone seeking to sustain a typical mustachian, say $2-4k monthly lifestyle, every extra dollar of income over that amount has an exponential impact on time to FI.

Jesstache

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Re: What was your net worth at 30 years old?
« Reply #132 on: November 02, 2015, 11:12:00 AM »
My husband and I were sitting a little above $1 M when I turned 30 two years ago.  I'd have to look it up to get an exact number.  We are currently between $1.3 M and 1.4 M depending on how you value our real estate. 

People asked up thread how people so young have high Net Worths.  Here's our progression (sorry it's so long):

Age 21: NW ~ -100k.  Graduated with an engineering degree and $105k in debt from student loans and a car (doh).  Salary: $48k per year, saving 12% in 401k with a 4% match.

Age 23: NW ~ -80k.  Switched to a job making ~$120k+ per year and paid off all of my debt in 1.5 years (!) plus maxed out my 401k from there on out. 

Age 25 (before getting married): NW ~ +90k before I married my husband. 

Age 26 (combined finances): NW ~ $350k, My husband made about $200k, owned a house in TX and a rental house in the area we wanted to move back to.  My husband had a big head start on me as he is several years older and had no college debt.

Age 27:  NW ~$600k.  We paid off our house in one lump $100k-ish payment and 5 hours later my water broke.  It was a girl :).

Age 28: NW ~$750k, When our daughter was 1, we jumped at the chance to move to our current location (always the goal) and I went to a SAHM and my husband went to a $140k salary.  We took out a $175k mortgage even with a $200k down payment (HCOL area).

Age 29: NW ~$850k, We have a baby boy and a few months later I get a job working part time making ~$40k for my own sanity.

Age 30: NW ~$1m, House prices sky rocketed in our area (main home and 1 rental home), stock market goes crazy as well.

We're currently (2 years later) at ~$1.35 M NW (includes 2 rental houses). Most of our gains in recent years have been compounding on our 401k's and real estate appreciation.  We both really enjoy our jobs and are going to keep on keeping on as long as that's still true.

Jack

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Re: What was your net worth at 30 years old?
« Reply #133 on: November 02, 2015, 12:09:20 PM »
I voted for the $100-200k bracket, but then remembered that Mint's Zillow estimate of my house value is ridiculous, and then realized that I should have divided by two since I'm married. In reality, my net worth was only a little bit above $0. In my defense, I didn't graduate college until I was 25 and was underemployed for a couple of years after that. Also, my wife is an artist and therefore doesn't make a very high salary. (I'm slightly envious of you double-engineer DINKs...)

On the bright side, in the year and a half since I turned 30 my household net worth has increased about $115k (although I think a chunk of that is continued Zillow absurdity).

spud1987

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Re: What was your net worth at 30 years old?
« Reply #134 on: November 02, 2015, 01:05:59 PM »
No option for me in the poll.

24: 50k
25: 200k
26: 400k
27: 600k
28: 775k

I predict I will be around 1.1-1.2M by 30.

Care to elaborate how you got there? That's quite impressive if it wasn't inherited.

Nothing too exciting about our accumulation phase. We earn a shitload of money and save about 60-70% of everything we earn. It doesn't feel very badass since we still spend about 60-70k per year. I'm a lawyer so I didn't start working until age 24 and my wife has been working since age 22. Combined we earn about 200-225k per year after taxes. We were also lucky to not have student loans due to going to a combination of cheap in-state schools and scholarships.

You can check out my journal for more details.

Ferrisbueller

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Re: What was your net worth at 30 years old?
« Reply #135 on: November 02, 2015, 01:18:04 PM »
A few magic beans....that turned out not to be magic at all :-(

Seriously probably between 10k-20k

Faraday

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Re: What was your net worth at 30 years old?
« Reply #136 on: November 02, 2015, 01:22:04 PM »
My husband and I ... are currently between $1.3 M and 1.4 M depending on how you value our real estate.

Jesstache, what strikes me the most about your posting (and THANK YOU for the detail, it's good to read and understand) is that you and DW appear to be in total lock-step agreement and execution about saving, investing, reaching FIRE and being badass. I didn't detect even one whiff of "My SO blew money on this thing or that thing and I can't get him to agree to saving....".

Things go way better when everyone is onboard and pushing hard!!!
« Last Edit: November 02, 2015, 03:41:23 PM by Faraday »
FIRE in 2020.

BigoteGato

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Re: What was your net worth at 30 years old?
« Reply #137 on: November 02, 2015, 01:49:36 PM »
It was ~$15K. Had just finished grad school and had my first full-time job.

Jesstache

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Re: What was your net worth at 30 years old?
« Reply #138 on: November 02, 2015, 03:13:00 PM »
My husband and I ... are currently between $1.3 M and 1.4 M depending on how you value our real estate.

Jesstache, what strikes me the most about your posting (and THANK YOU for the detail, it's good to read and understand) is that you and DW appear to be in total lock-step agreement and execution about saving, investing, reaching FIRE and being badass.

I didn't detect even one whiff of "My SO blew money on this thing or that thing and I can't get him to agree to saving....etc. etc.") Things go way better when everyone is onboard and pushing hard!!!

Haha well thank you!  First time someone else from the MMM community has called me badass, score!

For the most part, my husband leaves all of the details of the finances to me but we discuss the big picture regularly and rarely, if ever, disagree.  I send him a summary of our accounts on the first of each month (which he think is awesome) to show him where we're at and he usually responds with something like, "Yup! Still doing great!" 

It's hard for either one of us to be upset with the other one about spending because 1. We discuss pretty much everything beforehand and 2. It would be ridiculous to reprimand a grown adult and say things like, "why did you buy that!?" when we're obviously doing just fine.  Likewise, if my husband came to me and said, "I want to really buckle down and FIRE tomorrow," I'd be totally on board with that. 

OlyFish

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Re: What was your net worth at 30 years old?
« Reply #139 on: November 02, 2015, 06:29:31 PM »
approximately negative 220K. approx 180K in medical school debt, 15 K in credit card debt, remainder in car debt. at 31.5 I have paid off all of the credit card debt, paid off about half of the car debt, and about 20k in student loan debt as well as saved about 70K between retirement funds and savings accounts. I am still negative, but per my calculations I should be better if I continue to max out my pre-tax funds vs if I pay off the debt immediately. My car debt will be gone by April, and the student loan debt gone in 2020. My house will be paid off by 2025.
« Last Edit: November 03, 2015, 12:40:56 AM by OlyFish »

freeedom

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Re: What was your net worth at 30 years old?
« Reply #140 on: November 03, 2015, 09:28:57 PM »
I'm 30 now. My net worth is about 120k. I just finished paying my student loans, and am not married (so no double income). But my savings rate will increase now that the loans are paid.

Taran Wanderer

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Re: What was your net worth at 30 years old?
« Reply #141 on: November 03, 2015, 10:00:51 PM »
23:  ($14,155) single @ college graduation
30:  $136,859 dating
40:  $1,030,918 married with family

Didn't discover MMM until after 40.  If I had discovered at 30, we'd probably be at $2 million by now. Oh, no, we are only millionaires.  And at 40 instead of 30!  Life sucks...  <sarcasm>  I should post this under the Mustachian people problems thread.
« Last Edit: November 04, 2015, 09:15:32 PM by FlatWave »

stlbrah

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Re: What was your net worth at 30 years old?
« Reply #142 on: November 04, 2015, 06:16:47 AM »
came in thinking my projected 200-250k would be pretty good. left depressed

UnleashHell

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Re: What was your net worth at 30 years old?
« Reply #143 on: November 04, 2015, 07:14:27 AM »
at 33 I moved to the states. With a wife that wasn't allowed to work, two kids and a net worth of about negative 20k.

Within two years we had another kid, bought a house (taking on more debt that slowed down our growth) but moved into positive territory!!

I started paying down debt seriously at age 41 - interest on various loans was 27k a year.
I should still be able to retire at 50.

I'm running my own race here. Congrats to those that got there earlier than me but its my own actions that I can change - not anyone elses. Regrets? not a thing.
_____________
JTF 96

EscapeVelocity2020

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Re: What was your net worth at 30 years old?
« Reply #144 on: November 04, 2015, 07:22:30 AM »
Also, for some of us 'older folk', 30 was some years ago, so net-worth in nominal terms will be lower just due to inflation and timing (like if we hit 30 right after the 2008 collapse), so there really is very little value in trying to compare across people that are hitting 30 at different times.  A better question would have been what your net worth was on XXXX date.

For comparison, $150k invested in an S&P500 Index fund in 2003 when I hit 30 (S&P at ~1050) would be worth $300k now, so it is a misinformative skew when older-than-30 people vote lower numbers and younger-than-30 people vote.  In other words, the poll has most likely been skewed low depending on the demographics.
« Last Edit: November 04, 2015, 07:37:45 AM by EscapeVelocity2020 »
Transitioning to FIRE'd albeit somewhat cautiously...

arebelspy

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Re: What was your net worth at 30 years old?
« Reply #145 on: November 04, 2015, 08:27:06 AM »
A better question would have been what your net worth was on XXXX date.

The poll is definitely skewed due to inflation, but this question seems so much worse.

Because then you have people who are 20 answering how much they had on that date, and people 60 answering.  Then you're way skewing it for older people.

All you have to do to fix the OP is add "in inflation adjusted dollars" (and a few more categories).  :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

EscapeVelocity2020

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Re: What was your net worth at 30 years old?
« Reply #146 on: November 04, 2015, 11:40:17 AM »
A better question would have been what your net worth was on XXXX date.

The poll is definitely skewed due to inflation, but this question seems so much worse.
...

Ouch!  I guess I'd admit that they are equally useless questions, especially in a poll without context.  Plenty of people with low net worth at 30 can go on to be rich in any number of working years depending on unrelated windfalls like selling a business, inheritance, marrying well, insurance payout...  And people also go on to have a 'run of bad luck' and lose large chunks in a divorce, lawsuit, or health issue (not to mention lottery winners and professional atheletes)...  so who really cares if a person's net worth is 100k or 300k when they are 30? 
Transitioning to FIRE'd albeit somewhat cautiously...

MVal

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Re: What was your net worth at 30 years old?
« Reply #147 on: November 04, 2015, 01:05:33 PM »
Started at -$50k when I joined the work force at 23. Now at $846k with 2 months to go before 30.

I am no longer in the negative, thank God, but many of these posts make me sad as well! I am 33 and stand to hit $50K total NW by the end of the year.

Paying off my small student loans a couple years ago was key.
Proverbs 13:4
The soul of the sluggard craves and gets nothing, but the soul of the diligent is made fat.

Proverbs 13:11
Wealth obtained by fraud dwindles, but the one who gathers by labor increases it.

https://tickers.TickerFactory.com/ezt/t/wGp3WGH/savings.png

cbgg

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Re: What was your net worth at 30 years old?
« Reply #148 on: November 04, 2015, 05:47:33 PM »
Due to my diligent keeping of a monthly balance sheets, I can tell you that the month I turned 30 my networth was $315,399.  These numbers are for a single professional. 

I had many advantages in life that allowed me to get there and I'm a mix of proud/grateful about that number.  It's no MMM, but it's pretty good.

cbgg

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Re: What was your net worth at 30 years old?
« Reply #149 on: November 04, 2015, 05:51:37 PM »
This thread makes me sad. I'll be the first to cop to a negative net worth, and five figures at that. If by 60 I get to some of the numbers people here had at 30, I'll be ecstatic.

You'd be amazed wheat you can do in 10 years!  Don't be disheartened!