How Much Money You Need To Save By EVERY AGE

[@clearvaluetax9382]

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[@HopefulDancers-vr8nq]

❤

[@edventures9884]

I had $25k saved up debt free by 25 but I got sick at 25 and had to use all that money on doctor visits/tests/medicine. Now I have to start back from 0, it sucks so bad but I’m glad to still be here and I’ll keep grinding to build my wealth back up. It’s gonna take me a while but I’m not giving up.

[@ProfessorMikee]

No insurance?

[@OhLookItsDavid]

Insurance maxes out so fast. I have insurance, but one dental emergency set me back $6k. Overnight expenses like that are impossible to overcome with a low income (I’m in graduate school).

[@mpc2510]

Hey, at least u are not in the negatives. If u didnt have that money, you'd be in deep water. At least you didnt take out loans with high apy% eating u away.

[@KrazyKano]

I’m also glad you’re still here.

[@dubsie2209]

should have just taken it on loans and filed bankruptcy

[@gonzalescarloz]

I'm 27 and I just started a decent paying job last year. So far I have 10k in savings in a high yield account, and I also started my 401k. Being financially responsible really makes a difference.

[@ginaruff2867]

Make sure to fund a Roth ira as much as you can

[@frostyframe]

@@ginaruff2867 Totally agree, Roth IRAs are great for younger people. Try and put as much as you can in, and if you have enough fill it to the yearly contribution cap (6500 this year). But before you do make sure you have enough cash on hand for your emergency fund. Smart keeping it in a High yield account!

[@Hongsta]

till u get MARRIED and lose half :)

[@Jdvargas09]

​@@ginaruff2867😊😊😊

[@khaluu2000]

@gonzalescarloz A lil late but aside from maxing your Roth IRA dont forget you can also put money into CDs and Bonds if you want to play it safe. Just look under “fixed income” when you invest. Yields are anywhere between 4%-7% compounded interest if you want to earn a little more safely.

[@CodaBroda]

I was very lucky that my father-in-law suggested maxing out Roth IRAs in our 20s with extra cashflow; it’s near criminal that this isn’t taught in public school

[@alohastateofmind3565]

100%

[@mpc2510]

They taught it in my school and everywhere in my area.

[@basedblueboy8770]

I started at 33 so basically I'm going to die poor. It's too late for me

[@blackqueen5201]

This place wants slaves until you're done

[@BOSSDONMAN]

How old are you now?

[@HealthyWealthy808]

27 here -£8k emergency - .25 Bitcoin (around £6200) - £4K in vanguard lifestrategy - £6100 in physical gold and silver - £80k left on mortgage All this on a very average UK salary 👍🏽

[@isaklarsson5241]

Did you sell your bitcoin yet

[@evan6898]

Time to sell that bitcoin

[@HealthyWealthy808]

@@evan6898 tempting, might sell off £10% this bull run

[@HealthyWealthy808]

@@evan6898 tempting

[@RyanMolkentin]

That .25 Bitcoin gonna be worth $50k in a few months 😳

[@dominickkeene3805]

24 years old, extremely glad I’m getting into this now, from 18-23 I have made some poor financial decisions 😂

[@Seanpeng]

😅😂for sure

[@TheWesternWest818]

Same 😅

[@followthewhiterabbit8561]

I'll be 41 on May 23. You're way ahead of me at your age. Right now, my savings is only 20k.

[@frankfeng6199]

24 years young, glad you've already realized!

[@Xrusader]

There are very few who made good financial decisions between the ages of 18-23. Keep on plan going forward and you'll be fine.

[@mjcal96]

I’m 26 (27 in Nov), and had 15k in savings in 5% APY account. That 15k has dropped to 5k due to major car problems, killing ALL consumer debt, and career changing. It’s bittersweet but having that money ready was a great feeling.

[@Kunfucious577]

Wow, that’s actually incredible at your age.

[@juan_salvador_gaviota]

I’m 29 years old and have been aggressively saving over 50% of my income for the last 5 years. I drive a beat up Honda with over 270,000 miles on it. At the rate I’m going I should be able to retire by the age of 40, just have to keep on track.

[@herbankidd]

where are you investing the savings?

[@adam_clown]

@@herbankiddIf anything his savings should be in HYSA or a high yield CD.

[@juan_salvador_gaviota]

@@herbankidd Vanguard ETFs

[@KnightCreator]

Careful with saving too much money unnecessarily, the car could brake at some point and cause death, making your savings meaninglessness. Drive safe out there and invest in yourself properly. I have the same mindset, but after buying a new car, I feel relieved since my 2006 Nissian Altima with 160k felt like driving a bomb.

[@VictorTheHan]

If you don't have kids it can certainly be done.

[@Petesalez]

I’m 36 and wife 37 with current net worth of ~$1.1 mil. 6 years ago, we had 70k student loan, 25k car loans, 15k personal loan, 10k+ credit cards. Road to wealth started by paying all these black holes. We’re fortunate enough to make 6fig incomes but we also live in CA where EVERYTHING is expensive. It’s going to be painful getting started but once you see the debt actually going down, it becomes addicting! Best of luck to everyone with your financial journey!

[@truthtelleranon]

im guessing you both had huge income events to get to 1.1M from the negative in 6 years?

[@dashark1988]

Nonsense

[@garrettmarks9597]

Believing is seeing

[@robbiecotner3666]

I’m guessing most of that net worth came from real estate inflation.

[@nicholasgandhi6504]

So far so good. 25 with 140K in securities, no debt, paid off car. Once I get my housing figured out, I’m on a great path.

[@timchan334]

Wait till you have kids😅

[@nicholasgandhi6504]

@@timchan334 Probably gonna wait till I’m in my 40’s. Will probably move overseas too.

[@Boracay98ftw]

@@nicholasgandhi6504 yikes

[@JustBeelo]

@@nicholasgandhi6504you plan on getting a wife a decade younger 😵‍💫😂 women can’t have kids at 40 bro

[@nicholasgandhi6504]

@@JustBeelo mid 20’s G 🤣🤣

[@USViper]

I started saving and investing in 1989 at the age of 20... my father forced me to start. I love that man today!!! I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k

[@Aurumfae]

That’s a good dad! 👏🏼👏🏼👏🏼

[@USViper]

@@Aurumfae Indeed, thank you. I have done the same to my 27 yr old son.

[@TheRaiderd27]

How much of your income did yoy save per paycheck

[@USViper]

@Daniel Well 80% while living at home, joined the military and earned my real estate license. All income from real estate went to investments and savings. On average 30-40% over 25+ years. I also have my military retirement, rated 100% VA.

[@muhammadzinc5228]

you guys had unfair advantage back in the day. houses were cheaper, education was much less expensive, even if you adjust salaries to back to relative levels.

[@MartaRinker]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.

[@LilyClark-g3q]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@MartaRinker]

@@LilyClark-g3q However, if you do not have access to a professional like Suzanne Gladys Xander, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@LilyClark-g3q]

@@MartaRinker Oh I would love that. thank you .

[@MartaRinker]

@@LilyClark-g3q Suzanne Gladys Xander is her name .

[@MartaRinker]

Lookup with her name on the webpage.

[@Tinkerbell91280]

I wish i would have seen this video 20 years ago. I’m 42 now, so I’m having a late start at fixing my finances…but better late than never 😊 Thanks!

[@junboo8730]

Same boat

[@ShadowMind312]

Same here, I'm 45. We will be fine

[@kriskris5989]

I once read that a mans peak earning potential is between 40-60 years,it is not going to be the same for everyone, this is a generalization..by that measure,you are at a perfect age..I am 42 too,I only realized that I should invest my money at the age of 39 years..the last 3 years have been very good for me..all the best..educate yourself financially and take calculated risks..you will succeed

[@MadamWilson]

Same… we’re 41 & 43 at it

[@enigmathegrayman2953]

I’m 47 and completely wasted valuable time. I’ve given up now, I just reflect on how things could’ve been different 🤷🏽‍♂️

[@AmazingChinaToday]

I'm definitely an outlier, have $600k in CASH, no 401k, etc, no debt. I love when online banks pay 5% interest, the interest pays all my monthly bills.

[@katresealexander1311]

I wish I had that right now. It'll change my life. That's great 👍🏾

[@falconxerxes]

When inflation is higher than your bank interest rate, you are being tricked. That money is actually becoming less valuable.

[@oliviataylor4672]

Currently working overseas but will return to my home country in the near future. I'm a landlord. I invested in property at the age of 22. Value has soared and renting out. Will live on the rental income I receive and live with my aging parents for the time being. At 60 I can withdrawal from my superannuation (401(k)). Have savings and eligible for the Australian pension at 63. In the future I may downsize, sell the property and buy cheaper property and add the left over money from the sale to savings. Lots of options for me. The way I see it if you have $1m at some point, that’d be enough to create a portfolio that would pay you between 50k-70k in dividend income.

[@liamjones3445]

I've been saying the same thing for years as you age time gains value and money loses value. I retired at 62 and moved to the Philippines after I recovered from a work place injury. No stress, no rent/mortgage/debt, cheap to live here, eating healthier and the wife here treats me like gold. It doesn't just depend on saving, To optimize financial outcomes, individuals can seek guidance from a qualified financial advisor who can provide tailored advice and strategies to minimize expenses and maximize income.

[@carter3294]

I completely agree; I'm 60 years old, recently retired, and have roughly $1,250,000 in outside retirement funds. I have no debt and very little money in retirement funds compared to the total value of my portfolio over the last three years. To be honest, the Fin-advisor's can only be neglected, not rejected. Simply conduct study to identify a reliable one.

[@oliviataylor4672]

This is exactly how i wish to get my finances coordinated ahead or retirement. Can I get access to your advisor?

[@carter3294]

Her name is “CHRISTINE ANN PODGORNY”. I got heard about her from my wife. She was handling her invt effectively, and she's been doing same for me.

[@oliviataylor4672]

Thank you for the lead. I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@NameLast-q9y]

I'm 32 and started with Dave Ramsey at first. Paid all debt off by 28, saved our 6 months emergency fund and been investing 20% between our Roth, 401k, and investments. We have a combined net worth of over $200k. The biggest thing that worked was increasing our income and working side jobs that pay my mortgage off quickly. Highly recommend a strong budget and automatic withdraws of the Investments. Plan to retire at 55 and enjoy our older age.

[@bullwhiz650]

Building good spending habits is easily the most important rule here. Take any unnecessary expense you have each month and multiply that by 12x and again by 15x (if you're 40 years from retirement), the first # is how much you don't invest this year and the second # is how much you don't in at least 40 years (assuming a 7% growth rate). Weed, beer, games, sports betting, clothes, shoes, w/e it is it adds up after awhile and sometimes looking at the 40 year cost of somethings makes you stop doing it.

[@AI_EmeraldApple]

Yeah this is key.

[@AzureKev]

I love that weed was the first item on your list lmao

[@nzmanhdee6246]

Doesn’t mean you can’t have fun. Don’t forget to live life.

[@ZeeCapp]

Good to know at 19 with 10k in savings I’m doing good 😂. Social media can definitely be toxic and make you feel like you’re behind but just keep doing your best and never give up. I hope everyone here succeeds and accomplishes their dreams including my self 🙏

[@TylerRayHamblin]

I was 27 with 10k in savings so you’re doing well! 31, married, and net worth combined $275k net worth. Good thing you’re starting early!

[@brendanngin9939]

10000% daddies money

[@deislerrodriguez6864]

You cant be that broke 😂​@brendanngin9939

[@SlimFarmer]

One thing I did that helped me in my 20s to save was think about my future family. I would think to myself “you know one day our family may need this”. I did this before I even had a girlfriend. It helps fuel that drive to do the right thing with money.

[@pearlwilkinson5866]

Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.

[@silkeschulz5754]

@Rebecca This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant and everything changed. In in the first quarter of this year i made $370k and counting.

[@mathildeschulz6381]

I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging. who's the person guiding you?

[@silkeschulz5754]

Cant reveal much here, [Colleen Rose Mccaffery] oversees my portfolio, and I recommend researching her credentials on the net, she's well established.

[@mathildeschulz6381]

@@silkeschulz5754 Benevolence, this reference seems valid.. Just inputted her full name on my browser and found her site without sweat, 20 years of experience is certainly striking! very much appreciate it

[@stephanied1028]

It’s very hard to save in your 30s as well. You are now making money, but you have way more bills. Student loans, mortgage, childcare, car. There isn’t much left after that.

[@Yugiboii]

The messy middle

[@bigegames2019]

Most Americans have less than 1k in savings and no emergency fund...so if your behind, your not alone...if you are watching this it means you likely are better off than you think already. Sometimes, just starting to make a change is a substantial win, there are no short cuts to getting rich and staying rich, it is an uphill climb, and that is why 90% never start. Don't be the 90%

[@knockout_wj8886]

It's food costs that is killing me. And I cut back on eating.

[@Wraith983]

I'm 39, 401k with over 500k, net worth 660k, no college degree, no student loan debt. Public servant. Not rich, just middle class. Didn't have a car note till I was 34.

[@truthtelleranon]

married or kids?

[@Wraith983]

@elleranon yes

[@krisevans4379]

When did u start your 401k

[@Wraith983]

@@krisevans4379 2007

[@Wraith983]

@@krisevans4379 and I'm at 700k 401k now, the Biden years have been good

[@MimmyJorgan17]

Animation with captions and graphics is a great style for communicating with your audience. New and refreshing for such an important topic!

[@IrenaDolinsek]

Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.

[@Erinmills98]

@@AstaKristjan I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns.

[@Erinmills98]

@@simonbad Avery Barnes Whidden, she was in the news when she revived Grumac in 2018. You can look her up online, there isn’t much I can say here so it doesn’t seem as if i am promoting an agenda.

[@AnnieNugget]

​@@Erinmills98does she require your net worth to be a lot for you to be a client? I'm 25 and just starting out my financial journey

[@gino14]

Avery Barnes is wonderful! She told me my financial problems were the result of my ex wife, and offered to make her disappear 👌 I haven't heard from either her or my ex since, but she really helped me out

[@Kingolimar354]

@@gino14lmaooooooo way to stick it to the bots

[@westcoastlocal1]

So helpful! With so many financial experts throwing around arbitrary numbers, your clear, concise guideposts take all the unneeded stress out of the game.🙂

[@blake-nw4pd]

These are averages. I would aim to double these numbers to be safe.

[@OroborusFMA]

I'm turning 60 this year and expect to have a net worth of $1 million by the end of the year. And I see no hope of retiring. They are dismantling Social Security before our eyes, and have already half-privatized Medicare via so-called Medicare Advantage (AVOID). You work until you die in this country. It's savage.

[@katresealexander1311]

True

[@samferrell7757]

I think the real answer is just save as much as possible while still enjoying life to an extent and then when you've got a rock solid foundation and investments generating passive income you can ease off if you want to and splurge on yourself or your family.

[@trialsrob214]

I'll never be able to retire. I'm not even close to those amounts and I'm 60.

[@rnt45t1]

34, and sitting above the median net worth. Not by a huge amount, but about double. That's cool. Didn't get my act together until I was 32 and got sober, either. So, this is good news. Hoping to have well over a million by retirement.

[@seadragon1456]

That’s the hope we need as ALREADY 30 year olds.

[@khaluu2000]

I know people are gonna say this is a boring video but by all means he is exactly right on how things are. If you force yourself to put aside money then you see less play money on the side and will be less tempted to go over budget. Kudos

[@SirAthiro]

This was soul crushing, but at least I can still try turning thinks around. Thank you; I needed to hear this.

[@princedarkly]

I made all the mistakes in my 20s. But it drove me to be as financially stable as possible now that I am in my early 30s.

[@AI_EmeraldApple]

Yeah me too. I had credit card debt and it was managable early so went rice and beans mode and paid it all off. And now we don't miss eatin out anymore hahaha.

[@BigEww]

Me too still haven’t got a break. Lots of education but haven’t had a salary over 50k in my mid thirties and expenses keep rising… 1400 gross pay is pretty tough in todays world. I’m ready to just be poor so I can get assistance smh

[@BigEww]

@@AI_EmeraldApple I literally just ate lime rice and black beans. Got to switch it up often it gets old. Cheapest meal 2.50 a meal

[@AI_EmeraldApple]

@@BigEww We also bought a lot of and still buy costco chicken. 4.99 for a whole cooked chicken that lasts for many meals is not only a time saver, but saves money when you crave meat

[@Peglegkickboxer]

That's good, you still have three decades to work and get ahead. Keep it up and remember those lessons

[@Crimson-Ox]

Most Americans don’t even have $1,000 in savings but I’m reading all of these posts about people who are acting like they do😂

[@XxChuyoxX]

They may not be lying. This comment section is likely the very small percentage of individuals who actually care and are responsible with their finances

[@kevinbiketour1]

I don’t have $1k in savings b/c of things called brokerage accounts.

[@XxChuyoxX]

@@kevinbiketour1 so you'll be sitting dry when buying opportunities come

[@karladavis2878]

​@@natefreeman1466 o😅😅

[@Crimson-Ox]

@@natefreeman1466 Good point but when you go look at their pages it doesn’t reflect that. Only a few were into crypto and watching videos on financial literacy. However they were posting about all of this imaginary money but their history shows they’re watching girls in the gym or cat/dog videos.

[@KC-bz7eb]

Became the Head of household taking care of my aging parents on early 20' and there goes my budget and savings out the window !!!

[@acastr1234]

I'm a believer that you must honor your parents. You will be rewarded

[@deshawndac4163]

Save your change. It adds up.

[@kosahemdok3372]

That is a very hornarable act. An act like that is imediatly rewarded in your charcter, something that is worth much more than money

[@TEXCAP]

Hang in there Our parents always taught us to look after our own retirement before your kids needs. Dad had a stroke and we kept him in his home for about 17 years. Worn out, we finally put him in a nursing home. It took 4 firemen and myself to get him loaded up (He was like a caged animal). He starved himself out in 30 days in the nursing home. He was a tough character.

[@HH-ru4bj]

Apply for every form of financial aid you can think of, food stamps, healthcare, tax breaks, get in good with the counsel on aging and other geriatric services. They may qualify for a visiting nurse once or twice per month. Many assume this is a burden they have to take on alone just because no one is informing them of their options.

[@trishmaloney5674]

You are the uncle/older brother sharing financial literacy that we all need, thank you!

[@thoryan3057]

No. Better financial literacy educators out there, look at Rob Berger (youtube), The Money Guy Show (youtube), and PlanVision Podcast (on its own website). Most of Brian's financial advice is dangerous advice, don't take it at face value.

[@tomdrummy4984]

The sooner you owe nothing(have no debt), the better off you will be. First thing you need to do is to develop discipline. !

[@MrHamlet]

Real person here. Thank you for being awesome! I really appreciate your channel, insight, and expertise.

[@clearvaluetax9382]

Thank you for all the support Mr Hamlet!

[@JM-dk4ec]

This is the video I that I needed as a 24 year old.

[@joeashbubemma]

This strategy has been around since the beginning of time. Most of us simply didn't listen.

[@Jame6999]

​@@joeashbubemmakey word, listen

[@Jame6999]

You would not have listened 😅

[@Native2Earth]

If you don’t want to work for anyone it’s simple. Do whatever it takes to own a duplex or two properties. Live in one unit and rent the other. Sell something or grow something for spending money but have your tenant pay your mortgage so by the time you retire your mortgage is zero and you can live off your tenant money throughout your life :)

[@TheBanjoShowOfficial]

Literally a friend told me about this exact thing and now I’ve been thinking about doing it

[@RavensTheNextDynasty]

The issue is having the money to cover both mortgages when you don’t have tenants

[@Native2Earth]

@@RavensTheNextDynasty that’s the risk of freedom. Better to try it and restart then never attempt iy

[@donaldlyons17]

@@RavensTheNextDynasty Yeah not to mention many view housing as a basic need so they don't make sure they outpace expenses in order to win over time.

[@suzanneemerson9787]

Are you a landlord? I’m guessing no. After being involved in residential real estate for decades, I’m here to advise you to think this through in more detail than you have. There are so many factors you are not taking into consideration. All those people online telling you it’s easy to make money in real estate - - - they’re lying. If they were right, they wouldn’t be hustling you. They would be quietly raking in their dough and enjoying their luxury lives. Yes, it can be somewhat profitable, but you need diversification.

[@jaden8616]

Its interesting to see where others are at in life. I just turned 23 and moved back in with my parents grateful and will take full advantage to save my income. Still trying to figure out life and tighten up my plan for the future. Good luck to all those watching this video, we’re all here for a common reason

[@TravisAllen-ks4go]

I wish had done this 25 years ago.. I'm 45 and trying to save 25%.

[@TechGod7]

I make 120k in Atlanta I’m 26 no debt but I was spending so much money on god knows. I did a budgeting plan and now I have more money saved than ever before. Great video.

[@StudCity]

if i don't have $1M in the bank by 29 i quit

[@AB-fq4mr]

I'm in my mid-thirties, have $250,000 saved and make $140,000 a year. Sounds great, except that I wasn't able to buy a house before this bubble started. So either way, I'm still screwed. Net zero game after all that gruesome work I've put in over the years. This country is a joke now.

[@9770G]

Where do u live?

[@photoman4692]

I'm past this point and there are many good tips in this. However many people are living pay check to pay check. If two of those checks don't arrive a person has a real chance of being homeless. So while this is a great post for many it's impossible for a large group of people.

[@Justme12345]

This is good. I’m in my 50s. 5 years away from retirement. I started late in saving. One obstacle at a time. Got the kids thru college debt free! I work part time. Hard to save as much as Brian suggested, but I invested in learning. I got my notary license, and am working at creating more income. It’s slow to be honest, but it keeps me busy and not shopping. So that’s a plus!

[@sharinglungs3226]

I hope your kids will be around to help you out for the sacrifice you made for their education.

[@TheAkumaChan]

Woah amazing. I had student loans and it honestly stressed me out. I hope your kids will appreciate your efforts, it will really give them a great boost to their financial stability.

[@emilylee9894]

Why are you just working part time?

[@loryangnancyvangalways4904]

I love this video. Some may feel that it's too late but remember that it's never too late. The best way to get going on saving is to start.

[@alwinmaas4272]

I wish everybody the best on the financial journey! Do not let society make you crazy! Focus on yourself!

[@fidegall]

🙋🏾‍♂️ 40 year old 1g American from the south side of Chicago. Net worth $500k. Forklift driver. It can be done. Keep stacking assets.

[@mooneyes2833]

Thank you for this video! Turning 40 this year, and my hubby and I just started preparing for retirement last year. This video is going to all my kids for sure!

[@TeddyMrEthio]

This video makes two assumptions that I think need more careful consideration. 1) It assumes that your net worth can be easily accessed when needed. However, for most people, a large portion of their net worth is tied up in illiquid assets like their primary home. When planning for retirement, it’s essential to ensure that a portion of your net worth is liquid and accessible in a sustainable way. 2) The video assumes that the median net worth for different age groups is sufficient to maintain your lifestyle after retirement. I find this assumption overly optimistic, as the actual net worth required to sustain a similar quality of life is likely much higher, especially when considering the rising medical expenses that come with aging. That said, I completely agree with the overall message about the importance of investing in your retirement early and greatly appreciate the valuable educational content Brian shares!

[@Tyler-ug1hs]

28 yr old. Got about 35k in savings. Live in my parents house. No debt except for monthly credit card.

[@adwoaboakye265]

Me too & I think I’m not doing well, I don’t know why? I think that’s a decent amount for our age in savings.

[@hlwanmoe1981]

I'm actually saving 65% of my income. I spend not more than 8% of my income for my grocery and other stuffs that I need, not I want. The rest go for rent etc.

[@iaintevengonholdyou]

So thankful that I found out about financial education while still living with my mom at 18 so I have time to save before I fully go Into the real world. I’m saving/ investing about 50-60% of my income right now

[@Milestonemonger]

We're in our early 60s getting ready to retire. Although we're doing well, the amount of money we've wasted over the years is downright shameful: The impulse purchases, the useless high-end clothes, being too generous with our friends. We would have retired millionaires if we saved more and spent less.

[@harleycartley3138]

This is the second time watching your video..good one. Anyway, I’m a dividend investor but it’s a slow and steady growth. I’m 39 with a $300k portfolio and plan to retire at 60. My goal is to reach 2 million by then...I repositioned some of my dividend stocks using my broker James Fletcher Brennan. Now, I’m buying fractional shares of TSLA, AMC ,NIO ,NVR again. Before I was after dividends for passive income but it’s slow growth so i took my chances on high growth stocks and I've gotten a 120% increase this year but hopefully I’ll reach a million sooner

[@gagnecaron658]

Nobody knows everything, You need to manage risk, and stick to your broker’s plan through thick or thin, While also continuously learning from mistakes and improving. I also hope to trade with the big dogs soon

[@ericwilde4583]

he really seems to know his stuff. I also found his online page and read through his resume, educational background, qualifications and it was really impressive. he is a fiduciary who will act in my best interest. So, I booked a session with him

[@stanleyfujiwara1394]

I had to Google to be sure, he has a great resume

[@robertthurmond8161]

i'm happy there are lots of people doing so well...Love this channel for the transparency

[@sharinglungs3226]

These are some scary numbers. I’m surprised they are so low but then again credit cards and loans allow people to live a more lavish lifestyle than they can afford.

[@AlexinFX]

Shocking thing is. I’m a 25 year old in a 35-39 year olds position. 60k in my portfolio. Can’t wait to see where I’m at in 10 years. Saving 60% of my net income per month

[@AlexinFX]

@kenneth rashford I started out with 14k in 2020. Investing is definitely the way to go. If you invested in QQQ 13 years ago your 50k portfolio would be 600k.

[@stevehill8993]

It is true that saving in your 20s is vital for your retirement. I always had a side gig that was not part of the family budget. That was earmarked for IRAs and stocks. After 20 years it really paid off. Yes I wanted an awesome boat and sports car. Instead I kept the cars I had going for 15 plus years. Glad I did, retirement looms. You really need at least $600,000 minimum in today’s retirement. Social security alone will only cover about a third of your expenses.

[@nakfoor1846]

My biggest financial regret is not starting a Roth when I was 18, 19, only making a few thousand dollars a year. I could have had anything in that account growing completely tax free, as I was in the 0% marginal tax bracket, for a lifetime.

[@pdeezzel]

Use that regret to push yourself to make more than the Roth IRA limit +$150k.. At that point you'll look and say, great that wasn't even for me

[@TylerRayHamblin]

Same! But glad I started in late 20s instead of never.

[@Walter-jv5kr]

In Canada TFSA is the same as Roth IRA, RRSP is the same as 401k.

[@Nick_S1]

Definitely agree with working toward promotion goals. I would make sure to overshoot these median numbers to account for inflation. I am constantly working to increase my contribution rates. A few times a year I will make adjustments to my portfolio.

[@GreenMntMoto]

39 and just happy to keep my head above water - conventional employment wasn’t something I could handle and when i rely on it something out of my hands would happen. Ive got a lot skills n enjoy a simple life

[@tomdrummy4984]

I know they are “average”, but the numbers seem very low

[@nattapongchatchai610]

I like this guy. Straigth to thr point, no pointless ranting and off topic monologue. Great work!

[@TheArtOfDean]

Not one person told me about the importance of building wealth at an early age. So much I've learned over the years has been due to trial and error, mostly error. I had a 401K that I depleted due to the hole that I put myself in. At 29 years old at the time. Ughhh. Thank you for the information.

[@ChineseWinnie]

you weren't able to think that saving money is good?

[@TheArtOfDean]

@@ChineseWinnie that wasn't it...

[@leahmcdermott4189]

How old are you now? 29 is still young, definitely young enough to turn it all around and still end up a millionaire in the future 💕

[@A.Musa76]

@@ChineseWinnie Back in my time. There was no electronic online forums or anything. It was all done on hard paper application forums. They don't teach you this in school and growing up, my parents did not teach anything about saving money. There to busy working to make end meat for us.

[@theAmateurInvestorstory]

u did a great job. Animation with captions and graphics is a great style for communicating with your audience

[@undivided_unified]

Viewership must be generating some good income, video quality is stepping up! Im glad to see Brian is getting the exposure he deserves!

[@GNX157]

He’s definitely making a lot of money here on YT. I’d venture to say though he’ll never show any income statements from it.

[@the_investor9836]

I like that you specified its for households since many sources always miss-quote the statistic and people think it is individual numbers

[@annettecaamano3536]

People are lucky if they can afford a place to live and food on the table, especially in the northeast.

[@clearvaluetax9382]

Yes, especially in the major cities in the Northeast Annette.

[@MrFernandogj]

29 Here. Got financially educated in my early 20s. Started investing and got my net worth up from 0 to 200k :D. Thanks to youtube channels like this. Hoping I can retire early

[@jasond3169]

Do you have a budget format sheet you care to share?

[@clearvaluetax9382]

That's a great video that I should make Jason. Thank you for that tip!

[@multimeter2859]

Stacking up cash inside of my whole life policy. Feeling safe and secure. ❤

[@CaptainFrandy]

Great video, 27 year old here. Trying to build wealth and diversify assets. I tend to have less than 10% each check available to save because I’m always investing. It’s a dynamic that needs balance but I believe that we should invest more when we are younger

[@gymlaxbro]

Just turned 29, 1.08 million net worth. I’ve sacrificed 7 years for this, future looks good

[@drewwood5778]

I’m 34 and my wife is 30. Our net worth is 2.5 million. Our household income has been 300k/yr for the last 8 years both working in the oil field. Now she’s retired with our new baby and I’ll retire at 40. Get your income up folks even if it means working shift work and overtime. Then make sure to invest half!

[@Spectoral_on_SPOTIFY]

How does the median or average person have a positive net worth in their 40s when pretty much everyone has a mortgage they're paying off well into their 50s-60s? I need answers! Is the net worth including the equity of their unsold primary home?

[@Dnashtharapper]

This is a video for all young ages💯💯🤧 thx Brian

[@JJ-jo3rl]

Thank you so much! I sent this to my daughters hoping they don’t procrastinate as I have done.

[@Realryordie]

Great video! One thing I wish you mentioned is how much of a difference compound interest can add up from investing in your 20s vs 30s

[@sharinglungs3226]

Was thinking the same thing. As much as people in their 20’s have no savings if their parents could help kickstart that savings to compound would make a massive difference in the future.

[@Realryordie]

@@sharinglungs3226 people in their 20s don’t have saving because they are spending it…. That is why it should be emphasized

[@WhatHistoryShorts]

I dont agree with the workplace pension plan IF you have a reliable alternative, i.e. a SIPP / private pension. A WPP is 4% of pre-tax income + 3% employer contribution - great, BUT, you have no control or understanding over how it's invested so you end up with 3-7% return p/a. A SIPP, meanwhile, put into the right funds could make 10-15% p/a fairly easily (Legal and General, LionTrust Global Tech etc.) meaning that after 7 years you're already equal to the WPP value, even with the employer contribution, with year 8 and thereafter being pure net profit.

[@Tinkerbell91280]

I feel depressed after watching this video because I’m 42 and no where near the numbers you listed😂😂😂

[@JSharpie]

I just the JAR Money Management system since I was 23. Now 37. Put 25 to 40% away for just in case annual tax. From there break it down like this. 55% in necessities 10% in investment 10% in education 10% in long term saving 10% in play/enjoyment 5% in give Worked well so far for me.

[@brianm4108]

Absolutely great video and one of your best! You covered pretty much the full spectrum in a brief, powerful and concise format. Well done! Now just need you to make the same video in a pre-teen/teenager format :)

[@creatinglouie1813]

I Just turned 25 with about 45k in net worth zero debt. I started a business and grew my NetWorth pretty quickly. My main help other than my business was the support from my parents by not charging me rent and also guiding me on how to build my credit and save. Great parenting can go a long way.

[@HappyStupendous]

Since there is a limit to how much you can borrow from your 401k, is it better to first save for a 20% down payment on a home instead of contributing towards a 401k?

[@rickyayy]

Yes

[@rainacherienne1010]

You need to do both, just don’t buy stuff and buy groceries that are on sale only etc.

[@danrok7777]

This is not realistic our family wage doesn't even come close to be hable to save like that unless we start living on our car behind a food pantry.

[@revellations7741]

One tip too Brian would be to move to a city with cheaper living early in life to set more aside. I’m a Canadian Viewer and lived in Ottawa. I was making $18 CAD an hour (age 21) working out to roughly $2800 a month or $2100 after taxes based on full time work. My rent (one bedroom sub basement unit in sub-optimal part of town) was $1,300 a month. If I ate noodles and beans every day I could budget about $350 a month for food. That would leave me a whopping $450 of income a month on $2800 pre-tax or 16%. But as a heads up $350 for food is near unliveable here. Moving is key. Edit: 2021, I’m 23 in 2023 and buying my first new-car cash 😁

[@airybrook]

This made an enormous difference in our savings/retirement.

[@revellations7741]

@@airybrookgood stuff! And moving for work I actually got paid more too!

[@obomasinladen]

underrated tip.

[@hi-tych]

I've told people this when I was younger. I'll be the first millionaire in my family.

[@jackgawel5710]

Thanks again so much for your encouragement! in my early 60s and haven't been so diligent, I've listened and followed your advice for the last 3 years and you have helped alot! I'll be sending this to my children and grandchildren

[@outbackwack368]

I started reading Money and Kiplinger's magazine in my 20's and opened an Invesco mutual fund account with $100 with automatic monthly investments. As I started earning more I starting investing more. We both had decent jobs with decent companies and retirement plans. By the time my wife & I retired at 55 we had been saving/investing 50% of our income, owned a vacation/retirement home that we paid cash for, were debt free and had $2 million dollars invested. It's all about investing early, investing often and maximizing how much you invest. THAT needs to be your priority if you want to retire wealthy. It's call DELAYED GRATIFICATION. Oh, and a DINK lifestyle helps A LOT (Dual Income No Kids). Good luck!

[@HughJass-313]

No Kids is key! 🤣🤣

[@NYmomAdrienne3915]

This is wisdom that I was fortunate that my father taught it to me. I ❤️ tax deferred annuities. Thank you for this Brian!! I feel better

[@truthsayer9534]

Annuities come with high upfront fees. I avoid them at all costs, but you do you. It might be the right thing for you. We pumped a lot into our 401ks in low-cost mutual funds and hit a million in net worth before we were 50 years old. Almost to $2 million just five years later.

[@craigholland2274]

I agree with truthslayer. Hard to beat either a total market index fund or s and p index fund.

[@suzanneemerson9787]

Tax deferred annuities are terrible vehicles. Super-high fees and low returns, plus lock your money up so you can’t invest it elsewhere. Are you a teacher? Teachers are often targeted by insurance companies for a hard sell on these products.

[@NYmomAdrienne3915]

@@suzanneemerson9787 it’s fine in a balanced portfolio. I have vast diversification in my portfolio. I got waived fees through my company I worked for. I used to work in the credit markets but now I do small business finance from my home office so I’m not an absent mother. But I have an advantage for retirement. I live on Long Island, NY where million dollar houses are the norm now and I bought mine for $450k; now worth $1.3M. We can easily retire and move to less expensive states. It sucks when you are living here but once the mortgage is paid off, you are set to retire comfortably in another state. I am so happy that I made my last mortgage payment in February 🥳🥳

[@EmmitScully]

36 here and am on track with the suggested net worth here. I have an emergency fund, 401k, IRA and mutual funds. The problem is I can’t afford a house where I live and feel like I never will.

[@angelapham8695]

This is incredibly helpful. I'm 25 and trying to become financial literate. Although I know I'm young, I feel like I started focusing on money late

[@jads128]

I do love your content sir ! And always you are so in track and accurate! How this one it’s so focus on a very or externally small group of American ! Me as a Hispanic living the america dream ( I do mean it ) I know for sure this range are extremely far away for at least 90% of American! Plus just being truthful we just get out of a world pandemic plus recessions comming really hard, inflation it’s eating alive our saving or investment and finally purchasing powers keep going down, are really unrealistic escenarios for achieved this goals for the majority of people ! Forgetttttttt about other third world countries this is out of any possibility or reality !!

[@TTebb]

gg

[@FJUWANA]

Thank you Brian, I was blessed to realize financial education is crucial in my 20's, then started to learn Robert Kiyosaki on 4 quadrants, 23 yrs forward, we're well ahead than my peers and looking to quit my job soon and move to Bali in 2 yrs, then wait for my 60 for my Roth IRA to be available.

[@pepijndegroot7728]

I'm 19 right now and put around 95-100% of my income into my investments. I still live with my parents and plan to keep doing it that way, my parents give me food and everything so I basically live for free. And oh boy does it put me at an advantage later on in live, it might even get my bloodline out of the middle class if I handle it well

[@hpprinter6276]

I'm 41 and currently I have ~$220K in retirement accounts. I contribute to max in 401K and HSA every year since last couple of year. am I on track?

[@Sunshine-hv6mg]

Absolutely! Great job!

[@HughJass-313]

Nope!