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 79130 times)

Warlord1986

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Re: What was your net worth at 30 years old?
« Reply #300 on: August 10, 2016, 05:38:47 PM »
I'll be 30 on May 7. I have $500 in my savings account, $1,422 in savings, and $36,614 in various investments. Not great, but not terrible.

Just an update. I turned 30 on May 7.

I have $40,326 in investments, $1,812 in my checking account, and $2,811 in savings. I rock.

zephyr911

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Re: What was your net worth at 30 years old?
« Reply #301 on: August 10, 2016, 05:50:58 PM »
I'll be 30 on May 7. I have $500 in my savings account, $1,422 in savings, and $36,614 in various investments. Not great, but not terrible.

Just an update. I turned 30 on May 7.

I have $40,326 in investments, $1,812 in my checking account, and $2,811 in savings. I rock.
Mofo, you're up like 15% in just a few months... keep it up for a few years and you'll be a got-dam millionaire.
I am not a cog. I am an organizational lubricant.

Warlord1986

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Re: What was your net worth at 30 years old?
« Reply #302 on: August 11, 2016, 06:36:00 AM »
I'll be 30 on May 7. I have $500 in my savings account, $1,422 in savings, and $36,614 in various investments. Not great, but not terrible.

Just an update. I turned 30 on May 7.

I have $40,326 in investments, $1,812 in my checking account, and $2,811 in savings. I rock.
Mofo, you're up like 15% in just a few months... keep it up for a few years and you'll be a got-dam millionaire.

Lol, thanks! That cheers me up quite a bit. :)

TravelJunkyQC

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Re: What was your net worth at 30 years old?
« Reply #303 on: August 11, 2016, 07:55:12 AM »
I spoke too soon when I answered the poll the first time. I'll be 30 in about 6 weeks, and while I thought I would still be under the 100k mark, I've just squeaked past the 125k mark recently. Yay!

Zikoris

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Re: What was your net worth at 30 years old?
« Reply #304 on: August 11, 2016, 08:49:49 AM »
I love all this updating as us 29 year olds slide in to the 30 plate.

I've got seven weeks and three paychecks to go, and I've cleared six figures - just over 110K right now.
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TheAnonOne

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Re: What was your net worth at 30 years old?
« Reply #305 on: August 11, 2016, 09:07:29 AM »
I am 26 sitting at about 320k NW and $220k of it in the market.

I'll assume I will be over your pole mark in 4 years. Though, the market could have a historic decline + flat-line and my house could get destroyed by something insurance won't cover and I could get shot.

Other than that though, I will probably be over your pole.

TheMoneyWizard

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Re: What was your net worth at 30 years old?
« Reply #306 on: August 11, 2016, 10:34:25 AM »
I'm only 26, but at my current pace I should have around $345,00 by age 30.

It will be fun to look back on this post in 4 years.
26 year old blogger with a $144,000 Net Worth and a 65% savings rate. On pace to retire by 37. See more at www.MyMoneyWizard.com.

boarder42

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Re: What was your net worth at 30 years old?
« Reply #307 on: August 11, 2016, 02:10:49 PM »
almost to 30 .... 3 months away.  tracking to be a NW of 550k or so with 400k invested. (150k is home equity)
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

Cornbread OMalley

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Re: What was your net worth at 30 years old?
« Reply #308 on: August 11, 2016, 03:51:37 PM »
almost to 30 .... 3 months away.  tracking to be a NW of 550k or so with 400k invested. (150k is home equity)
A lot more than what I had at age 30.

dcamnc

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Re: What was your net worth at 30 years old?
« Reply #309 on: August 11, 2016, 05:02:29 PM »
My net worth was lol at 30. Very negative. Much different now, even with my modest 50k salary.

nr

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Re: What was your net worth at 30 years old?
« Reply #310 on: August 11, 2016, 05:33:29 PM »
DINKs here. Will hit 30 in 5 months.  Combined we are just short of $650k now.

Should be further along. I had a few years of excessive spending that I finally shook. She didn't start working until 3.5 years ago due to immigration status, schooling and other family related responsibilities.

We have since zoned in on finances.  Aiming for a 60% savings rate this year and all years going forward. Planning on 10 more years until we are fire.  Probably will never stop working tho. I love my work just not the current capacity I am involved at.

sis

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Re: What was your net worth at 30 years old?
« Reply #311 on: August 12, 2016, 08:03:20 AM »
Married couple here.  31/27.  Current NW is around 510k.  We are about to buy our first home which will lower our housing costs a ton but increase commute time by a lot.  We'll still be able to commute exclusively using mass transit.  We might get a car when we move because we'll be closer to nature/hiking than we are currently and we'll have a driveway/parking.

Edubb20

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Re: What was your net worth at 30 years old?
« Reply #312 on: August 12, 2016, 10:13:04 AM »
Married Couple  30/28 and still firmly in debt.

~$1200 in savings
~$18,000 in retirement
~-$4500 in CC debt
~-$51,000 in student debt
______________________
~-$36,000 net worth

The good news:

-We've knocked down or cc bill by %50 in about a month and a half and should have it paid off by mid September. 
-The wife and I are DONE with formal education
-We now have household income of ~$120,000.  We had been floating between 35k-60k household income for about 5 years until about 3 months ago.
- We recently moved from San Diego to Eugene, OR  (Eugene is not the cheapest place but night and day when compared to San Diego)
-Purchased a Bike and ride 8 miles each way  to and from work at least 2 days a week (working on upping it).
-We're on track to have a zero total balance on our net worth by the time we hit ages 31.5 and 29.5 respectively.
-Once we've eliminated loans/cc debt, we've mapped out that we should be able to save/invest about %50 of our income based on our lifestyle.
-Driving Honda fit and civic
- working on getting vested in my pension plan



Finally feel like we're at a turning point and ready to get our mustache on.




Travelling Biologist

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Re: What was your net worth at 30 years old?
« Reply #313 on: August 12, 2016, 11:50:39 AM »
Married Couple  30/28 and still firmly in debt.

~$1200 in savings
~$18,000 in retirement
~-$4500 in CC debt
~-$51,000 in student debt
______________________
~-$36,000 net worth

The good news:

-We've knocked down or cc bill by %50 in about a month and a half and should have it paid off by mid September. 
-The wife and I are DONE with formal education
-We now have household income of ~$120,000.  We had been floating between 35k-60k household income for about 5 years until about 3 months ago.
- We recently moved from San Diego to Eugene, OR  (Eugene is not the cheapest place but night and day when compared to San Diego)
-Purchased a Bike and ride 8 miles each way  to and from work at least 2 days a week (working on upping it).
-We're on track to have a zero total balance on our net worth by the time we hit ages 31.5 and 29.5 respectively.
-Once we've eliminated loans/cc debt, we've mapped out that we should be able to save/invest about %50 of our income based on our lifestyle.
-Driving Honda fit and civic
- working on getting vested in my pension plan



Finally feel like we're at a turning point and ready to get our mustache on.

I love your positive outlook. I think you are definitely at a major turning point and am willing to bet you'll have a positive net worth and growing within a year. Update if you can!

Edubb20

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Re: What was your net worth at 30 years old?
« Reply #314 on: August 12, 2016, 03:27:24 PM »
Thanks for the kind words, I'll be sure to update!

So many people here are posting about their 100-300k net worth at age 30. I think it is important to show others out there they are not alone if they are still paying for their early 20's.  My wife and I have turned paying off debt into a bit of a game, and we're having fun watching our Personal Capital account morph into something to be proud of instead of something that insights panic.
« Last Edit: August 12, 2016, 03:29:45 PM by Edubb20 »

Spork

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Re: What was your net worth at 30 years old?
« Reply #315 on: August 12, 2016, 03:45:22 PM »
Thanks for the kind words, I'll be sure to update!

So many people here are posting about their 100-300k net worth at age 30. I think it is important to show others out there they are not alone if they are still paying for their early 20's.  My wife and I have turned paying off debt into a bit of a game, and we're having fun watching our Personal Capital account morph into something to be proud of instead of something that insights panic.

If you scroll back to page 2: Mine was approximately net 0.  Not everyone has their shit together in their 20s.
Some will sell their dreams for small desires
Or lose the race to rats
Get caught in ticking traps
And start to dream of somewhere
To relax their restless flight

Edubb20

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Re: What was your net worth at 30 years old?
« Reply #316 on: August 12, 2016, 04:11:01 PM »
Thanks for the kind words, I'll be sure to update!

So many people here are posting about their 100-300k net worth at age 30. I think it is important to show others out there they are not alone if they are still paying for their early 20's.  My wife and I have turned paying off debt into a bit of a game, and we're having fun watching our Personal Capital account morph into something to be proud of instead of something that insights panic.

If you scroll back to page 2: Mine was approximately net 0.  Not everyone has their shit together in their 20s.


I was in no way implying I'm the only person who bumbled through their 20's (as that would directly contradict the poll results).  I'm simply attempting to strengthen the collective voice of the "late bloomers", if you will. :)

PFHC

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Re: What was your net worth at 30 years old?
« Reply #317 on: August 12, 2016, 05:11:37 PM »
-$158,000

6 years later = $245,000

I don't sweat what others are doing. I'm just stoked to watch my own progress. I also don't lament the lost time. It a great motivator to make the decisions to fund a steep growth. By the way, I'm probably double what most people my age are worth, and I only joined the professional work force 8 years ago. Prior to that, my biggest earning year was $25,000.

johndoe

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Re: What was your net worth at 30 years old?
« Reply #318 on: August 14, 2016, 05:00:54 PM »
I've enjoyed this thread, but there are caveats to net worth (COL, spending habits, etc)...is there a metric that could help us make sure we're on the right track without having those other variables?

For instance, if the "goal" is having a net worth of 25x annual spending would it be worthwhile to report what % closer you get to this value annually?  Or maybe "my net worth is x times my annual spending."?

FrozenBits

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Re: What was your net worth at 30 years old?
« Reply #319 on: August 14, 2016, 05:12:10 PM »
Currently married with a combined NW of 250k. Average age between the two of us is 24.5.

Not sure where we will be at 30

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PFHC

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Re: What was your net worth at 30 years old?
« Reply #320 on: August 14, 2016, 05:12:47 PM »
is there a metric that could help us make sure we're on the right track without having those other variables?
Savings rate seems to be a good metric.

beastykato

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Re: What was your net worth at 30 years old?
« Reply #321 on: August 14, 2016, 05:20:27 PM »
What all are we including here in net worth?

If we are including mortgages I'm definitely in the hole.  I'm amazed so many people are positive at that point in their life on this forum!  No one I know in my age group is doing that well lol. 

I'm at negative ~$40,000 with my mortgage included.  Hopefully, by the time my 30th bday rolls around in 10 months I'll be close to breaking even.

I'm really happy with where I'm at with everything considered.  I started investing in 2009, but wasn't really able to start maxing 401k's and things like that until a couple years ago. 

FrozenBits

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Re: What was your net worth at 30 years old?
« Reply #322 on: August 14, 2016, 05:37:18 PM »
What all are we including here in net worth?

If we are including mortgages I'm definitely in the hole.  I'm amazed so many people are positive at that point in their life on this forum!  No one I know in my age group is doing that well lol. 

I'm at negative ~$40,000 with my mortgage included.  Hopefully, by the time my 30th bday rolls around in 10 months I'll be close to breaking even.

I'm really happy with where I'm at with everything considered.  I started investing in 2009, but wasn't really able to start maxing 401k's and things like that until a couple years ago.
Are you counting your home equity against the mortgage?

For example.  The balance on our mortgage is about 200k but the house is worth 250k.

If this was the only asset we had then our NW would be 50k.  250k asset minus 200k liability = 50k

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beastykato

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Re: What was your net worth at 30 years old?
« Reply #323 on: August 14, 2016, 05:51:59 PM »
No I left the equity in my home off the table.  I have no real way to access it so I usually don't count it in my personal calculations. 

For this purpose though, if I include that I'm actually at ~$0 net worth.   So, maybe I will include it just to feel better about myself lol!

ender

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Re: What was your net worth at 30 years old?
« Reply #324 on: August 14, 2016, 07:02:19 PM »
What all are we including here in net worth?

If we are including mortgages I'm definitely in the hole.  I'm amazed so many people are positive at that point in their life on this forum!  No one I know in my age group is doing that well lol. 

I'm at negative ~$40,000 with my mortgage included.  Hopefully, by the time my 30th bday rolls around in 10 months I'll be close to breaking even.

I'm really happy with where I'm at with everything considered.  I started investing in 2009, but wasn't really able to start maxing 401k's and things like that until a couple years ago.
Are you counting your home equity against the mortgage?

For example.  The balance on our mortgage is about 200k but the house is worth 250k.

If this was the only asset we had then our NW would be 50k.  250k asset minus 200k liability = 50k

Sent from my SM-G935F using Tapatalk

I track my net worth from the home as value minus about 8% or so, figuring that it would cost a fair bit to actually convert house into cash.

Was a bit sad when our net worth dropped a bunch buying a house :( hah.

arebelspy

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Re: What was your net worth at 30 years old?
« Reply #325 on: August 14, 2016, 07:05:16 PM »
I've enjoyed this thread, but there are caveats to net worth (COL, spending habits, etc)...is there a metric that could help us make sure we're on the right track without having those other variables?

For instance, if the "goal" is having a net worth of 25x annual spending would it be worthwhile to report what % closer you get to this value annually?  Or maybe "my net worth is x times my annual spending."?

There's the MND PAW/UAW formula.  One I always thought was better (see previous discussions via search) was (in excel, feel free to translate it yourself):
=(EXP(0.15*(Age-20))-1)*(Gross-taxes)

Works better for the young and old..MND only works for those in mid-40s, it overestimates what someone in their 20s should have, and underestimates what someone in their 60s should have, as it's linear.
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."

FrozenBits

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Re: What was your net worth at 30 years old?
« Reply #326 on: August 14, 2016, 07:17:09 PM »
What all are we including here in net worth?

If we are including mortgages I'm definitely in the hole.  I'm amazed so many people are positive at that point in their life on this forum!  No one I know in my age group is doing that well lol. 

I'm at negative ~$40,000 with my mortgage included.  Hopefully, by the time my 30th bday rolls around in 10 months I'll be close to breaking even.

I'm really happy with where I'm at with everything considered.  I started investing in 2009, but wasn't really able to start maxing 401k's and things like that until a couple years ago.
Are you counting your home equity against the mortgage?

For example.  The balance on our mortgage is about 200k but the house is worth 250k.

If this was the only asset we had then our NW would be 50k.  250k asset minus 200k liability = 50k

Sent from my SM-G935F using Tapatalk

I track my net worth from the home as value minus about 8% or so, figuring that it would cost a fair bit to actually convert house into cash.

Was a bit sad when our net worth dropped a bunch buying a house :( hah.
That's a good way to do it as well.   My wife has her real estate licence so our transaction costs would be a little cheaper.  About 5% give or take.

We may keep our current place as a rental in the future to postpone transaction costs and bring in some additional passive income.

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LeRainDrop

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Re: What was your net worth at 30 years old?
« Reply #327 on: August 14, 2016, 08:57:21 PM »
What's the point of this poll when we have single people reporting their own personal net worth right in the same data collection as married/combined-finances people reporting the combined net worth of two people?

ender

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Re: What was your net worth at 30 years old?
« Reply #328 on: August 14, 2016, 09:01:53 PM »
What's the point of this poll when we have single people reporting their own personal net worth right in the same data collection as married/combined-finances people reporting the combined net worth of two people?

What's the point of any of this entire forum?

Enjoyment, time wasting, and encouragement/tips for better financial success.

This thread probably falls squarely into the first two categories.

LeRainDrop

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Re: What was your net worth at 30 years old?
« Reply #329 on: August 14, 2016, 09:04:31 PM »
What's the point of this poll when we have single people reporting their own personal net worth right in the same data collection as married/combined-finances people reporting the combined net worth of two people?

What's the point of any of this entire forum?

Enjoyment, time wasting, and encouragement/tips for better financial success.

This thread probably falls squarely into the first two categories.

I guess so, though I'll call this one "dis-enjoyment" for the single peeps getting compared against double peeps :-)

ender

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Re: What was your net worth at 30 years old?
« Reply #330 on: August 14, 2016, 09:12:54 PM »
What's the point of this poll when we have single people reporting their own personal net worth right in the same data collection as married/combined-finances people reporting the combined net worth of two people?

What's the point of any of this entire forum?

Enjoyment, time wasting, and encouragement/tips for better financial success.

This thread probably falls squarely into the first two categories.

I guess so, though I'll call this one "dis-enjoyment" for the single peeps getting compared against double peeps :-)

Why do you even care? There will almost always be people who at 30 had 10x or 1/10th or -10x your net worth, regardless of what number it is, because there is always someone who did better, got luckier, was more stupid, whatever.

Does it make you feel better to have more $ than someone at age 30 and you somehow feel worse if someone puts $250k as a couple and you only have $200k as a single person? Why does that matter at all?

OneCoolCat

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Re: What was your net worth at 30 years old?
« Reply #331 on: August 14, 2016, 10:29:23 PM »
At my present pace, it will be between $40k and $50k.  It's been growing quickly though.  At my present pace I should be FIRE, with over a million in mutual funds, by 43 or 44 years of age if my portfolio returns a 6% annual average. 
I refinanced my student loans with Sofi from 6.8% to 3.805%.  Use my referral URL for a $100 welcome bonus if you refinance with Sofi:  https://www.sofi.com/refer/234/11233

arebelspy

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Re: What was your net worth at 30 years old?
« Reply #332 on: August 14, 2016, 10:47:06 PM »
What's the point of this poll when we have single people reporting their own personal net worth right in the same data collection as married/combined-finances people reporting the combined net worth of two people?

What's the point of any of this entire forum?

Enjoyment, time wasting, and encouragement/tips for better financial success.

This thread probably falls squarely into the first two categories.

I guess so, though I'll call this one "dis-enjoyment" for the single peeps getting compared against double peeps :-)
DOUBLE your number then.

It'll feel really good. :)
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."

LeRainDrop

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Re: What was your net worth at 30 years old?
« Reply #333 on: August 14, 2016, 11:01:19 PM »
What's the point of this poll when we have single people reporting their own personal net worth right in the same data collection as married/combined-finances people reporting the combined net worth of two people?

What's the point of any of this entire forum?

Enjoyment, time wasting, and encouragement/tips for better financial success.

This thread probably falls squarely into the first two categories.

I guess so, though I'll call this one "dis-enjoyment" for the single peeps getting compared against double peeps :-)
DOUBLE your number then.

It'll feel really good. :)

Thanks, man :-)  And may I say, I love that your signature has The Cheat!  My college boyfriend and I used to keep up on all the Homestar Runner cartoons circa 2001-2003.  I loved Strong Bad's emails!

arebelspy

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Re: What was your net worth at 30 years old?
« Reply #334 on: August 15, 2016, 02:31:26 AM »



Thanks, man :-)  And may I say, I love that your signature has The Cheat!  My college boyfriend and I used to keep up on all the Homestar Runner cartoons circa 2001-2003.  I loved Strong Bad's emails!

Haha, me too! :D
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."

pancakes

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Re: What was your net worth at 30 years old?
« Reply #335 on: August 15, 2016, 05:08:25 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.

Now on the right side of 30 :)

Combined we have $225k excluding super and hecs debt (super > hecs now though).

On the down side we've done almost no investing and all but about $30k is earning a piddly 2.75% in savings accounts.


BTDretire

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Re: What was your net worth at 30 years old?
« Reply #336 on: August 15, 2016, 11:57:20 AM »
 I married at 26 years old with zero net worth, but no debt.
The first year we saved $6k and over the next 3 years save that
much and more.
I think we had about $30,000 when I was 30 yrs old.
Maybe late by MMM standards, but 30 years later, we have
a high NW by Mustachian standards.


Metric Mouse

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Re: What was your net worth at 30 years old?
« Reply #337 on: August 16, 2016, 04:58:01 PM »
What's the point of this poll when we have single people reporting their own personal net worth right in the same data collection as married/combined-finances people reporting the combined net worth of two people?

What's the point of any of this entire forum?

Enjoyment, time wasting, and encouragement/tips for better financial success.

This thread probably falls squarely into the first two categories.

I guess so, though I'll call this one "dis-enjoyment" for the single peeps getting compared against double peeps :-)

Maybe the concept of 'enough' would help? many people on this thread, and this forum, have net worth far in excess of what I did when I FIRED in my twenties.  Having only one income does not mean one can not get to their goals in a reasonable time frame.
Give me one fine day of plain sailing weather and I can mess up anything.

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webguy

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Re: What was your net worth at 30 years old?
« Reply #338 on: August 16, 2016, 06:54:37 PM »
I'm 30 and net worth is just over 1.1M. Not sure why the poll only goes up to 300k.

BTDretire

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Re: What was your net worth at 30 years old?
« Reply #339 on: August 16, 2016, 07:36:13 PM »
I'm 30 and net worth is just over 1.1M. Not sure why the poll only goes up to 300k.

 How did you do it?
 Job, self employed, inheritance, Willy Sutton method.

webguy

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Re: What was your net worth at 30 years old?
« Reply #340 on: August 16, 2016, 10:04:43 PM »
I'm 30 and net worth is just over 1.1M. Not sure why the poll only goes up to 300k.

 How did you do it?
 Job, self employed, inheritance, Willy Sutton method.

Job for the first 4 years, self-employed for the last 3 years.
« Last Edit: August 17, 2016, 08:25:31 AM by webguy »

FrozenBits

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Re: What was your net worth at 30 years old?
« Reply #341 on: August 17, 2016, 12:52:46 PM »
I'm 30 and net worth is just over 1.1M. Not sure why the poll only goes up to 300k.

Agreed, there needs to be a couple more 200k ranges.

BTDretire

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Re: What was your net worth at 30 years old?
« Reply #342 on: August 17, 2016, 02:37:06 PM »
I'm 30 and net worth is just over 1.1M. Not sure why the poll only goes up to 300k.

 How did you do it?
 Job, self employed, inheritance, Willy Sutton method.

Job for the first 4 years, self-employed for the last 3 years.
You had to save at least $120,000 a year for 7 years.
Were you earning $200,000 a year?

webguy

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Re: What was your net worth at 30 years old?
« Reply #343 on: August 17, 2016, 06:57:40 PM »
I'm 30 and net worth is just over 1.1M. Not sure why the poll only goes up to 300k.

 How did you do it?
 Job, self employed, inheritance, Willy Sutton method.

Job for the first 4 years, self-employed for the last 3 years.
You had to save at least $120,000 a year for 7 years.
Were you earning $200,000 a year?

Earning between $40-$70k/year when I worked a job, but it's ramped up the last few years since I went self-employed. Starting your own business is where it's at!

PFHC

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Re: What was your net worth at 30 years old?
« Reply #344 on: August 17, 2016, 07:40:51 PM »
I'm 30 and net worth is just over 1.1M. Not sure why the poll only goes up to 300k.

 How did you do it?
 Job, self employed, inheritance, Willy Sutton method.

Job for the first 4 years, self-employed for the last 3 years.
You had to save at least $120,000 a year for 7 years.
Were you earning $200,000 a year?

Earning between $40-$70k/year when I worked a job, but it's ramped up the last few years since I went self-employed. Starting your own business is where it's at!
You must have had some unbelievably profitable years in there as a business owner! That's rad. How did you mitigate the huge tax burdens that must have come with it? Or did you just make so much that it wasn't an issue?
« Last Edit: August 18, 2016, 07:32:45 PM by PFHC »

webguy

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Re: What was your net worth at 30 years old?
« Reply #345 on: August 18, 2016, 07:15:27 PM »
I'm 30 and net worth is just over 1.1M. Not sure why the poll only goes up to 300k.

 How did you do it?
 Job, self employed, inheritance, Willy Sutton method.

Job for the first 4 years, self-employed for the last 3 years.
You had to save at least $120,000 a year for 7 years.
Were you earning $200,000 a year?

Earning between $40-$70k/year when I worked a job, but it's ramped up the last few years since I went self-employed. Starting your own business is where it's at!
You must have had some unbelievably profitable years in there as a business owner! That's rad. How did you mitigate the huge tac burdens that must have come with it? Or did you just make so much that it wasn't an issue?

Yeah taxes are never fun. I do what I can to reduce them through any tax-deferred accounts I qualify for, and filing as an s-corp helps a bit, but mostly you just have to suck it up and pay the piper.

TheDuder

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Re: What was your net worth at 30 years old?
« Reply #346 on: August 22, 2016, 12:26:08 PM »
29, married with one kid (Just found this website). Will be 30 in about 6 months. Barely on the positive side.

I've been the main and sometimes only one pulling in a salary over the last 7 or so years. Wife is in school and should *fingers crossed* grad in Dec. Looking forward to finally saving more than a few dollars a month for our future goals.

srob

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Re: What was your net worth at 30 years old?
« Reply #347 on: August 23, 2016, 01:09:56 PM »
I may have the record here--negative 210K at age 30 due to student loans. Doing much better at 40 though.

Strick

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Re: What was your net worth at 30 years old?
« Reply #348 on: August 23, 2016, 02:27:02 PM »
Looked back in Quicken....At 30, Negative $70k and struggling to find a job out of law school...that may of even been the month we made rent by taking a cash advance from a credit card...now, 15 years later at $1.8M

Koreth

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Re: What was your net worth at 30 years old?
« Reply #349 on: August 23, 2016, 11:43:36 PM »
A quick glance at my books shows I was -38k at 30. I don't think I had yet fully acquired a clue, and still had many a consumerist desire.