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 79810 times)

Aus_Stashington

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Re: What was your net worth at 30 years old?
« Reply #250 on: April 17, 2016, 06:32:54 AM »
26: -$50,000 (2 degree's)

I'll update in 4 years time lol. But holy god, who are some of you people who have accumulated 500k+ by 30, that is madness!

Zoot

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Re: What was your net worth at 30 years old?
« Reply #251 on: April 17, 2016, 08:45:33 AM »
At 30 (1997), NW was $0.  I was in grad school--no debt, but no assets either.

At 46 (2013), personal NW was about $500K (including home equity); average gross salary from 1997-2013 was about $64K.  I got married in November of that year; combined NW at the end of 2013 was about $550K after combining households.

At 49 (April 2016), combined household NW is just shy of $800K (including home equity).  Average gross household salary for 2014-2015 was about $150K. 

It's fairly astounding to look back over that progression--I'd never really put those numbers together before, as I just really started tracking net worth in my "household dashboard" file in early 2015--but thanks to Quicken, I had the data available and was able to pull it together.  We'll be knocking on the door of the Double Comma Club in a few years, and if you'd asked me if I thought I'd EVER be there when I was 30, I'd have doubled over laughing. 

Gotta share the Four Yorkshiremen sketch at this point:  https://www.youtube.com/watch?v=Xe1a1wHxTyo 


The Fake Cheap

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Re: What was your net worth at 30 years old?
« Reply #252 on: April 17, 2016, 10:46:12 AM »
I was sitting at a net worth of about -30K at 30.  Since I was late getting my bachelor's degree, and it was all funded by student loans.  Currently late 30's and the net worth of my wife and I combined is now about 130K, not including our work pensions.  I guess I should add that her net worth at 30 was probably about -10K to be fair since I'm including her in the current net worth calc.

Going back to what someone had said on page 1 or 2 of this thread (sorry, did not read up to date posts) how someone was saying many people on here are talking about a nicely positive net worth at 30 of like 50K-100K, and how this isn't possible for most people without substantial help (parents pay for school, weddings..etc).  I agreed...at first.  Then I thought about it a bit more and realized that this forum is full of savers and  mustachians from birth so given that, I do see how a net worth of 50-100K would be possible at 30 for many here without the necessary help from parents.

ender

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Re: What was your net worth at 30 years old?
« Reply #253 on: April 17, 2016, 01:42:21 PM »
Going back to what someone had said on page 1 or 2 of this thread (sorry, did not read up to date posts) how someone was saying many people on here are talking about a nicely positive net worth at 30 of like 50K-100K, and how this isn't possible for most people without substantial help (parents pay for school, weddings..etc).  I agreed...at first.  Then I thought about it a bit more and realized that this forum is full of savers and  mustachians from birth so given that, I do see how a net worth of 50-100K would be possible at 30 for many here without the necessary help from parents.

The biggest contribution to getting your net worth high(er) at any age is avoiding making large financial mistakes.

Student loans, opportunity costs of not working, bad housing decisions, living above your means, divorce, fancy cars, etc, all affect this.

doggyfizzle

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Re: What was your net worth at 30 years old?
« Reply #254 on: April 17, 2016, 01:48:40 PM »
The biggest contribution to getting your net worth high(er) at any age is avoiding making large financial mistakes.

Student loans, opportunity costs of not working, bad housing decisions, living above your means, divorce, fancy cars, etc, all affect this.

I'd say investing early and often at the beginning of one's career to take advantage of additional compounding time for investments is just as important as avoiding poor financial decisions.  You can avoid flashy cars and for-profit graduate school degrees that don't mean sh*t, but if you only keep your money ina savings account, you'll never start growing that alternate income stream that pays you above the cost of inflation.

ender

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Re: What was your net worth at 30 years old?
« Reply #255 on: April 17, 2016, 01:49:29 PM »
The biggest contribution to getting your net worth high(er) at any age is avoiding making large financial mistakes.

Student loans, opportunity costs of not working, bad housing decisions, living above your means, divorce, fancy cars, etc, all affect this.

I'd say investing early and often at the beginning of one's career to take advantage of additional compounding time for investments is just as important as avoiding poor financial decisions.  You can avoid flashy cars and for-profit graduate school degrees that don't mean sh*t, but if you only keep your money ina savings account, you'll never start growing that alternate income stream that pays you above the cost of inflation.

Not investing early is a poor financial decision (?).

BTDretire

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Re: What was your net worth at 30 years old?
« Reply #256 on: April 17, 2016, 03:11:17 PM »
Argh, I  guess I need to crawl up in the attic and pull out some 30+ year old paperwork.
 I was filling out NW forms even then.

Metric Mouse

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Re: What was your net worth at 30 years old?
« Reply #257 on: April 19, 2016, 04:07:11 AM »
Argh, I  guess I need to crawl up in the attic and pull out some 30+ year old paperwork.
 I was filling out NW forms even then.

Wow.. must be fascinating to be able to look back at your life in such detail.
Give me one fine day of plain sailing weather and I can mess up anything.

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gecko10x

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Re: What was your net worth at 30 years old?
« Reply #258 on: April 19, 2016, 06:05:21 AM »
I guessed, don't really remember and can't be assed to dig out the paper records.  Somewhere in the five figures.  My 30s have been a better decade for growing NW.

Same here. I think we were somewhere around $30-$50k @ 30, but six years later we are well over $200k. Which isn't fantastic on this board, but is pretty good compared to the population at large (I know that isn't saying much!)

microscopes

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Re: What was your net worth at 30 years old?
« Reply #259 on: April 19, 2016, 07:16:08 AM »
I agree with what some of the others said. This thread just pisses me off.

Turning 30 in 2 years, am in debt, and do not make the income to be anywhere even remotely close to what most of the 30 year olds were doing.

Petuniajo

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Re: What was your net worth at 30 years old?
« Reply #260 on: April 19, 2016, 08:11:04 AM »
I think those who are pissed off about this thread are choosing only to compare themselves to the really high net worth folks, and ignoring the nearly 40% of us who were either still in debt or under 50k net worth. If you pick and choose the data points, of course you might not measure up. If you're going to pick and choose, why not pick and choose those whose situation aligns more with your own.

Or even better, review the thread with a detached interest, knowing that your situation is unique, and it doesn't become better or worse by comparing yourself to others' situations.

NESailor

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Re: What was your net worth at 30 years old?
« Reply #261 on: April 19, 2016, 08:40:50 AM »
I think those who are pissed off about this thread are choosing only to compare themselves to the really high net worth folks, and ignoring the nearly 40% of us who were either still in debt or under 50k net worth. If you pick and choose the data points, of course you might not measure up. If you're going to pick and choose, why not pick and choose those whose situation aligns more with your own.

Or even better, review the thread with a detached interest, knowing that your situation is unique, and it doesn't become better or worse by comparing yourself to others' situations.

I think you're right.  It's tricky, though.  I'll be reading this thinking...oh cool, my 200K household NW looks pretty good compared to these guys...then I read another poster who's at 1 million at the same age :).  It stings just a bit.  But then I think about how we got here with a total household income never exceeding 110K (2015) and probably only averaging about 80K in 8 years of working and I feel a bit better.  Then I see another poster at 700K...and so it goes up and down.

At any rate, just being on this forum is a sign of good things to come.  The pace will be different for all of us but it will end in financial security (if not independence) with virtual certainty.  It's also nice to see how the real prodigious accumulators got there so quickly.  I know I should have MAXED OUT contributions in 2008 when I started my working career.  I made 42K/year then so I definitely could have done it.  I would be sitting on another 100K or more right now.  But I'm here today and doing much better than 1, 2, 3 years ago.  And that's what matters.

Warlord1986

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Re: What was your net worth at 30 years old?
« Reply #262 on: April 19, 2016, 09:03:14 AM »
Didn't the prophet say something about how he occasionally runs into people more badass than himself? First he bows down and admits that they out-cool him, then he tries to learn how they do it?

This thread is full of badasses, and I'm certain some of them would be willing to share how they save $???,??? in their thirties, and could provide ideas for how someone else could do the same.

arebelspy

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Re: What was your net worth at 30 years old?
« Reply #263 on: April 19, 2016, 09:26:49 AM »
If stories of other people doing better than you (in your opinion) makes you angry, rather than inspired, it may be time for some reframing.
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.
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Metric Mouse

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Re: What was your net worth at 30 years old?
« Reply #264 on: April 19, 2016, 10:25:02 AM »
Didn't the prophet say something about how he occasionally runs into people more badass than himself? First he bows down and admits that they out-cool him, then he tries to learn how they do it?

This thread is full of badasses, and I'm certain some of them would be willing to share how they save $???,??? in their thirties, and could provide ideas for how someone else could do the same.

Stock picking? Just to throw ideas out that have worked for me.

Of course, I've yet to reach 30, so it's quite possible that my net worth will change significantly in one direction or the other from where it is currently.
Give me one fine day of plain sailing weather and I can mess up anything.

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Warlord1986

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Re: What was your net worth at 30 years old?
« Reply #265 on: April 19, 2016, 10:44:17 AM »
Didn't the prophet say something about how he occasionally runs into people more badass than himself? First he bows down and admits that they out-cool him, then he tries to learn how they do it?

This thread is full of badasses, and I'm certain some of them would be willing to share how they save $???,??? in their thirties, and could provide ideas for how someone else could do the same.

Stock picking? Just to throw ideas out that have worked for me.

Of course, I've yet to reach 30, so it's quite possible that my net worth will change significantly in one direction or the other from where it is currently.

Several of the high-income individuals I know own their own businesses. One guy has 3. Creating a side gig for yourself out of a hobby or talent might bring in some extra income.

Clean Shaven

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Re: What was your net worth at 30 years old?
« Reply #266 on: April 19, 2016, 11:11:39 AM »
At 30 (2002), I probably had 50K in home equity, 10-15K left in student loans, and maybe 10-15K in retirement (IRA) accounts (no 401(k) at any job to date).  I think my salary was around 60-65K.  Was just getting started in the real world post-grad school, and was focusing on trying to pay off student loans as fast as possible (started with around 55K in 1998).

Roboturner

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Re: What was your net worth at 30 years old?
« Reply #267 on: April 19, 2016, 11:13:58 AM »
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.

I'll speak from basically the same position.  DINKs with decent incomes.  We are able to save about 10k a month, which is absurd I know (~85% savings rate FWIW).  The real absurdity is that our peers continue to be in debt through frivolous spending, but I digress.  The bull market the last 5 years has made those savings substantially more significant, even through missteps while learning the ins and outs of investing.

Currently ~$795,000 (household, no real estate).  Little under a year till 30.

+1, 27yo DINKS, 600k NW - goal is 1MM by 30
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wenchsenior

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Re: What was your net worth at 30 years old?
« Reply #268 on: April 19, 2016, 12:15:09 PM »
I agree with what some of the others said. This thread just pisses me off.

Turning 30 in 2 years, am in debt, and do not make the income to be anywhere even remotely close to what most of the 30 year olds were doing.

I suspect the high achievers here might be disproportionately responding. At 29/39 I (we) had a net worth of about 0K (if you didn't count student loans that were about to come due). One year later we had a net worth of negative 200K because we had just FINALLY begun adulting...Think of how desperate my husband was then...40 years old with student loans and his first 'career' job, but at least we finally had a halfway decent income and could buy a house, a bed, a washer and dryer (Man, was THAT exciting), and a couch. Pretty damn pathetic compared with many on this board.

So yeah, this thread is depressing, but mainly because I wish I'd had someone to shake sense into us when we were young, and explain all this stuff. I/we didn't really know how to do better until 30/40-ish. Even so, I'm not sure I could or would change all that much of how we handled things. My husband was the first person in his family to even attempt college, and he needed 3 degrees and a post doc to get the position he was after. We were more frugal than a lot of students we know. We lived in a single-room, cinder-block guest house for 10+ years, we didn't run up cc debt, and I didn't take out student loans. What's really amazing, is we were still doing better than many of our family members, even then.

I wish I could go back and facepunch myself, but at least we got serious and made a ton of progress since then. We're aiming for SAFE retirement and FI, but early retirement is not in the cards.

This is not a good thread for the late starters to feel good about themselves. However, if you look around the 'real' world, you can often feel far better. One of my husband's friends is a relatively well-known niche performer (I'm being vague for privacy), who is in his mid 50s and is working his first ever stable job with benefits. He's been working mostly under the table since he was a teen, so his SS will be negligible. He has no idea how to invest, what he should do with his pension options, or how he's going to make it if he can't work well into his 70s. This type of situation is amazingly common among people that I know in the 'real world'.

MrMoogle

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Re: What was your net worth at 30 years old?
« Reply #269 on: April 19, 2016, 01:00:21 PM »
I agree with what some of the others said. This thread just pisses me off.

Turning 30 in 2 years, am in debt, and do not make the income to be anywhere even remotely close to what most of the 30 year olds were doing.
I suspect the high achievers here might be disproportionately responding.
Most of the people on this forum make above the median income.  Your net worth at 30 is based on when you became frugal and serious about investing, how big of a hole you were in when this happened, and how much money you made after.

I've already posted my number was around 400k.  I started work at 22, with no debt (thank you parents), and I was already frugal.  Between 22 and 30, the most I made in a year was 70k, good, but not unreachable by most. 

I had 8 years of stashing and investing, where some started with student loans, and didn't think about this until they were 40.

ender

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Re: What was your net worth at 30 years old?
« Reply #270 on: April 19, 2016, 05:23:47 PM »
Some of the higher totals are going to be the total for a couple, too.


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Re: What was your net worth at 30 years old?
« Reply #271 on: April 20, 2016, 01:31:06 AM »
Some great stories on this thread. For me I was about -£10k at age 30. Drifting along after graduating an arts degree with debt. No savings, tiny pension, no plan.

Then I met my now fiancée and it all changed. Suddenly I did want to plan. So I consolidated my debts and paid them off in 18months. Then for first time in my life I started saving as I had a goal (to save for a deposit on a house).

We bought in 2009 at bottom of uk market and over next 3 years I overpaid the mortgage.

Then I discovered MMM, ERE, FIRE and things started falling into place. I stopped overpaying mortgage and massively increased my pension contributions. I opened an ISA with Vangard Lifestrategy. I started a spreadsheet to track our spending and networth every month. More importantly my fiancée help me negotiate considerable raises at work.

The result is that at 43 our combined networth is now £960k. Admittedly 70% of that is our house, but for those thinking there's no way they can ever reach the highs of others, believe me it is possible!

Werthless

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Re: What was your net worth at 30 years old?
« Reply #272 on: April 20, 2016, 06:49:27 AM »
At 30, wife and I were at around 2x gross income (although our income had more than doubled since 22), and around 5x expenses. Expect to get to 25x expenses by 40, although it will be sooner if income grows.

Started at -$50k at college graduation, but we got back to even in the year after graduation while we were engaged, by both living at home while working.
« Last Edit: April 20, 2016, 06:51:00 AM by Werthless »

onlykelsey

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Re: What was your net worth at 30 years old?
« Reply #273 on: April 20, 2016, 06:53:57 AM »
At 30, wife and I were at around 2x gross income (although our income had more than doubled since 22), and around 5x expenses. Expect to get to 25x expenses by 40, although it will be sooner if income grows.

That's an interesting way to frame it and probably useful for lots of folks.  I earn literally 20x what I did at 25, so it would produce weird results for me to focus on income.  5x expenses seems universally useful, actually.  I'm at about 6x expenses (including home equity) or 2.5x expenses without.

arebelspy

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Re: What was your net worth at 30 years old?
« Reply #274 on: April 20, 2016, 07:50:40 AM »
Looking at it that way, at 30 we were at 15x our max combined income, and about 48x max expenses (though expecting expenses to rise in FIRE, which we did right before 30,. so more like 30-35x expected expenses).
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.
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Laserjet3051

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Re: What was your net worth at 30 years old?
« Reply #275 on: April 20, 2016, 09:13:43 AM »
-70K @30 years old

(just finishing PhD program w/ 70K combined school debt for BS/PhD)

shanghaiMMM

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Re: What was your net worth at 30 years old?
« Reply #276 on: April 20, 2016, 10:11:16 PM »
I'm currently about 15x annual expenses but that is only due to living in China.

Unfortunately, when we move home that figure will no doubt go down some what!


(In answer to the OP, I turn 30 next year and hopefully be on around 250-300k between me and my wife. Not bad when I consider where we were a few year ago!)

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Re: What was your net worth at 30 years old?
« Reply #277 on: April 21, 2016, 12:10:03 PM »
We're just less than 3x last year's combined gross income, but 32x annual expenses. The last couple of years have been pretty good years for our NW.

Feels like I should be able to FIRE very soon.
The ability to let that which does not matter truly slide.

onlykelsey

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Re: What was your net worth at 30 years old?
« Reply #278 on: April 21, 2016, 12:15:18 PM »
We're just less than 3x last year's combined gross income, but 32x annual expenses. The last couple of years have been pretty good years for our NW.

Feels like I should be able to FIRE very soon.

holy crap! you've already hit the 3% rule, no?

Frugal D

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Re: What was your net worth at 30 years old?
« Reply #279 on: April 21, 2016, 01:28:06 PM »
We're just less than 3x last year's combined gross income, but 32x annual expenses. The last couple of years have been pretty good years for our NW.

Feels like I should be able to FIRE very soon.

holy crap! you've already hit the 3% rule, no?

Yeah. The problem is that 65% of our NW is in our primary residence. That % will grow to probably a maximum of 75% as we continue to aggressively pay down the HELOC.

It's nice to know that we could FIRE as soon as we sell the house, but try convincing my wife of that with a baby due in November in a neighborhood we like.

The goal is to FIRE by 40 which gives me 10 years to adjust our asset allocation.
« Last Edit: April 21, 2016, 01:32:46 PM by Frugal D »
The ability to let that which does not matter truly slide.

Herbert Derp

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Re: What was your net worth at 30 years old?
« Reply #280 on: April 22, 2016, 02:48:05 AM »
I'm currently 25 years old and at around $450K, I hope to reach $1MM when I'm 30. Note that this is entirely by myself, I am not married.

onlykelsey

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Re: What was your net worth at 30 years old?
« Reply #281 on: April 22, 2016, 07:39:12 AM »
We're just less than 3x last year's combined gross income, but 32x annual expenses. The last couple of years have been pretty good years for our NW.

Feels like I should be able to FIRE very soon.

holy crap! you've already hit the 3% rule, no?

Yeah. The problem is that 65% of our NW is in our primary residence. That % will grow to probably a maximum of 75% as we continue to aggressively pay down the HELOC.

It's nice to know that we could FIRE as soon as we sell the house, but try convincing my wife of that with a baby due in November in a neighborhood we like.

The goal is to FIRE by 40 which gives me 10 years to adjust our asset allocation.

Ah, yes, I have that problem too, although I have only been working and saving for 4.5 years and my house should quickly become less integral to my net worth.  I think it's currently about 65% as well.  Still, not a bad position to be in!

You also have that borrow money against house to invest it option that is so controversial around here.  I've thought about it but my HELOC floats and we seem overvalued, which I know is market timing, but I"m going to keep digging at my HELOC and 401(k) loan before I invest more.

tyd450

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Re: What was your net worth at 30 years old?
« Reply #282 on: April 22, 2016, 07:59:36 AM »
I just turned 31 and had a nice milestone-  just recently went over $400k in investments and $600k in net worth!
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AugustBurnsRed1

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Re: What was your net worth at 30 years old?
« Reply #283 on: April 23, 2016, 06:10:50 AM »
Not 30 yet, but at 24 I am sitting on roughly 160k. Hopefully by the time I am 30 I am at 500k minimum, preferably 750k-1m.

tyd450

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Re: What was your net worth at 30 years old?
« Reply #284 on: April 26, 2016, 07:31:19 AM »
Not 30 yet, but at 24 I am sitting on roughly 160k. Hopefully by the time I am 30 I am at 500k minimum, preferably 750k-1m.
Depends on the market but I think you will get there.  I was lucky enough to start in a down market in 07/08 coming out of school
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phwadsworth

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Re: What was your net worth at 30 years old?
« Reply #285 on: April 26, 2016, 08:04:24 AM »
Wasn't keeping track back then, but I'm guessing that at age 30 wife and I combined were about $50-$100k in debt.  It was such an unfathomable number I didn't even pay attention to it.  We went deeper into the negative until about age 32, I think the bottom was around-$120k.
5 years later and we're positive $250k, on track to be FI in a few more years.  The biggest jump in this number has been in the past 2 years, since I discovered MMM and similar lifestyle forums.  It's also been the biggest jump in my own sense of satisfaction in life: spend less - stress less - live more.
« Last Edit: April 26, 2016, 08:07:43 AM by phwadsworth »

freeedom

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Re: What was your net worth at 30 years old?
« Reply #286 on: May 28, 2016, 07:37:55 AM »
Going back to what someone had said on page 1 or 2 of this thread (sorry, did not read up to date posts) how someone was saying many people on here are talking about a nicely positive net worth at 30 of like 50K-100K, and how this isn't possible for most people without substantial help (parents pay for school, weddings..etc).  I agreed...at first.  Then I thought about it a bit more and realized that this forum is full of savers and  mustachians from birth so given that, I do see how a net worth of 50-100K would be possible at 30 for many here without the necessary help from parents.

The biggest contribution to getting your net worth high(er) at any age is avoiding making large financial mistakes.

Student loans, opportunity costs of not working, bad housing decisions, living above your means, divorce, fancy cars, etc, all affect this.

I've had zero help from my parents. I'd actually classify them as a liability. My net worth is over 100k at 30. It is possible.

WildJager

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Re: What was your net worth at 30 years old?
« Reply #287 on: May 28, 2016, 09:00:18 AM »
Just turned 30, current number is $905,000.  DINKs with a low COL thus high savings.  Most of our savings were post crash, so we got lucky invested into the bull market.  Finding MMM in 2013 really helped us refine our general thriftiness a ton.  I soaked up all the investing knowledge I could starting in college, and the housing bubble (and subsequent crash) really taught me the value of buying and holding.  College was paid for through military service.  We have one car that we bought for $5k back in 2009 that has done us well, and we live close to work in order to bike most days.  Our budget sits right now around $27k including house rental and utilities, which will adjust to a mortgage payment down the road.  We plan to adjust this up over the years to match inflation (ish).

Free college obviously helped us out.  Plus my parents gave us about $50k in the money they had saved for college, which padded our investments. 

We have about 5 more years before we're allowed to pull the trigger, which will add plenty of padding to our stash.  Then we'll begin our new lives of travel and eventually settling down to a hobby farm.

Thanks to this community for the wealth of knowledge and encouragement!  We can't wait to see what the future holds away from the office!

lazysundays

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Re: What was your net worth at 30 years old?
« Reply #288 on: May 28, 2016, 09:31:36 AM »
More Negative than $450,000.  I just hit zero net worth last year at age 37.  That included new mortgage of $315k acquired that year and the bulk of the SL from age 28 of $188,000.

A Definite Beta Guy

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Re: What was your net worth at 30 years old?
« Reply #289 on: May 28, 2016, 10:13:15 AM »
Just about to turn 30.
Negative net worth of about ~$440k. Mostly one mortgage and two god-awful student loans.

The student loan will be waived in 2022 due to that whole student loan forgiveness thing.

We're budgeted to save 27.5k per year, though, which isn't....terrible. It's enough to keep my chin up, lol.

No point getting angry at other people's successes.

Kaydedid

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Re: What was your net worth at 30 years old?
« Reply #290 on: May 28, 2016, 10:54:21 AM »
29 and married (H is 31, so averages out to 30).  NW 200k ish, not bad for single income and special-needs kid!

Sent from my SCH-I545 using Tapatalk


MMMarbleheader

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Re: What was your net worth at 30 years old?
« Reply #291 on: May 29, 2016, 05:32:13 AM »
$350k at 29

Jealous of all you dinks out there! Wife has never really had a great job and has been a sahm since 2012. Kind of glad we did not find MMM until after she stopped working because I would have rationalized delaying having kids. Plus side is we will have our last kid out of the house at 47.

COEE

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Re: What was your net worth at 30 years old?
« Reply #292 on: May 29, 2016, 01:05:59 PM »
I love some of the numbers people posted on the difference from 30-40. So exciting to see the progress that can be made in those 10 years.

I couldn't have said it better.  It's very inspiring to see people with NW of people starting at $0 and being at around $1M in 10 years (or more).  Impressive!

I voted for negative.  This is my combined NW with my spouse - although my wife is mostly SAHM.

  • 28:  Fresh out of engineering school.  I have no record of how much we were in the hole, but I'd guess probably around $50k.  Finally took the Dave Ramsey class after learning about the class 5 years prior or so.
  • 30.5:  $4.5k in the red... I had just learned about YNAB after getting a call from a debt collector about some medical bills.  $40k in debt total.  Upside down on the house by a few grand.  Considered selling the house to get out of our 'bad' $4.5k problem.  Also considered bankruptcy - but it was obvious that our situation wasn't that bad.
  • 31:  $33k in the black!  Got that shit turned around real quick once I started paying attention!
  • 32:  $107k due mostly to bull market.
  • 33:  $214k due to insane property growth
  • 34:  $301k due to insane property growth - again  (so so so so glad we didn't sell the house!)
  • 34.5:  $316k sold the house and have been renting so we haven't been riding the real estate market.  The stock market tanking the last 6 months hasn't helped either.

House values have continued to rise in our area so I've lost a lot in compounding growth in this move, BUT we are under contract and have downsized our house (and thus our COL).  After we close on June 8th we will improve our total debt load by a total of $100k and will be scheduled to payoff our house 7 years sooner (if we don't pay extra).  Now that our move is nearly complete, I expect our NW to soar due to our lower COL.  I expect the $1M goal by 40 to be attainable with a little luck.  I think $750k is a more reasonable goal though.  I think I need about $1.1M NW for us both to retire.  So we're talking sometime between 40-45. 

Seeing other people's 10 year growth has helped me see we're on the right track and that our goals are attainable!

millennialstache

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Re: What was your net worth at 30 years old?
« Reply #293 on: May 30, 2016, 07:07:00 AM »
Super impressed by all of the responses. Hope to be right there with some of you at 30 but I've got a few years left to screw up the momentum.

210k-230k at 21 (majority is in real estate properties and paper which is why the range).

Frugal D

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Re: What was your net worth at 30 years old?
« Reply #294 on: May 30, 2016, 11:14:59 AM »
Super impressed by all of the responses. Hope to be right there with some of you at 30 but I've got a few years left to screw up the momentum.

210k-230k at 21 (majority is in real estate properties and paper which is why the range).

You should be well over $1mm by 30 with that kind of start at age 21. Nice work! 
The ability to let that which does not matter truly slide.

Little Aussie Battler

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Re: What was your net worth at 30 years old?
« Reply #295 on: May 30, 2016, 01:11:14 PM »
Can't remember what it was at 30.

Now 35, Mrs LAB is 37 and little LAB just turned 1. 

Current estimated NW is A$1.8m.  Some company stock will vest in the next few months that will take it to A$2m.

Jim Fiction

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Re: What was your net worth at 30 years old?
« Reply #296 on: May 31, 2016, 09:19:29 PM »
At 30 I was in the red to the tune of between $50K. Now, at nearly 32 I am in the red for about $19K (this doesn't take into account my wife's finances - she is in the black - probably around $10k).

If not for an unmustachian wedding that happened in between, I would be in the black at around $10k.


Dicey

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Re: What was your net worth at 30 years old?
« Reply #297 on: May 31, 2016, 11:28:18 PM »
No idea. I do remember that a had a year's salary in the bank, a good job with a company car and no debt before I bought my first house, which I did at, you guessed it, age 30. I'm FIRE now, so it's worked out.
I did it! I have a journal!
http://forum.mrmoneymustache.com/journals/a-lot-like-this/
And hell yes, I am still moving confidently in the direction of my dreams...

Bloodbuzz

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Re: What was your net worth at 30 years old?
« Reply #298 on: June 01, 2016, 06:41:23 AM »
About £8k at 30.   I'm 31 at £20K now but only started investing in December last year.

Although I feel like a late starter compared to many people in this thread (graduated into the 2008 recession, then lived in London on a low salary for 4 years), I look at my spreadsheets and i'm thrilled at the progress I've made and excited about where I will be in a few short years. 

I think once you GYST and the ball starts rolling, you can make fantastic progress in a short space of time.

brant08

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Re: What was your net worth at 30 years old?
« Reply #299 on: June 06, 2016, 11:17:36 AM »
When I was 30 and DH was 31, our net worth was $339k in Dec of that year (2014). 

We are now both 32 with a net worth of $598k as of 5/31/16.  Included is approx $340k of retirement savings.  we still have some debt (car and student loan) which is approx $30k combined- that's obviously factored into net worth but wanted to throw out there that we have a mortgage (530k left), loans, etc.  no credit card debt.

Worth noting is that DH got an MBA and graduated in 2012, so the jump reflects a pretty dramatic salary increase from age 28-32.