How much money you should save BY AGE?

[@nischa]

In this video, I share Fidelity's guidelines for how much you should save by age plus (and more importantly!) actionable points to focus on during each decade. Enjoy!

[@Egyptbweep]

@Nischa, you regularly mention the 8% compound interest. What do you recommend investing in which gives an average of 8% on average/consistently?

[@rachelday1803]

@nischa What advice would you give to parents to help get their kids off on the right track? Our oldest kids are 14 and 15, both making around 5k a year at jobs. I know time is a bonus for them, how would you advise them to begin investing?

[@smashit002]

@nischa - when you say 41 and 3 times my salary saved. Is that a realized gain and cash parked in a savings account or non-realized investment gains through 401k, Roth IRA, HSA, Brokerage and some cash (for USA)? This type of video is published by a lot of finance gurus but then how do we calculate this amount. I am 41 and what if I have more than 3x now but by 50 stock market crashes and it's not 6 times my salary. Please clarify how can we say all this when the gain is not a realized gain.

[@michaelhernandez2868]

​@@smashit002 I believe in any accounts that are meant, specifically, for investment. Any money set aside to pay your monthly bills or to cover an emergency don't count as investment money for your retirement. The six months to 1 year's worth of salary you set aside, in case you lose your job 'til you find another job, don't count as investment, even if it's in a high yielding savings account. I count my rental real estate holdings in that figure, because they put money in my pocket every month. My financial planner includes the equity I own in my home as part of my net worth but I don't because it doesn't earn an income. It takes money out of my pocket every month in the form of living expenses. 401(k), Roth & traditional IRA gross savings are counted in those figures. You can't count any net until you start making withdrawals because your income taxes could be very different in retirement. You don't know if you'll be in a lower or a higher tax bracket until you get there.

[@joesamson8666]

04:58 you are missing a crucial point. You must have saved 3x your salary at 40 also means 3x what you are actually making at age 40 so it will not be 150K because 50K is what you were making 10 years ago when you were 30. If your salary does not go significantly up in 10 years then what's the point of all of this even?

[@NicholasBall130]

So far I'm doing good, approaching retirement with about 800k in savings. Transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?

[@StacieBMui]

People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.

[@cowell621]

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.

[@StocksWolf752]

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

[@cowell621]

Credits goes to “Rebecca Nassar Dunne” one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

[@lolitashaniel2342]

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

[@jefcro7189]

I turned 50 this year. The advice I'd give my 25 year old self is to choose wisely when it comes to one's spouse or partner. This choice is critical when it comes to trying to achieve some sort of financial independence or control. If your spouse or partner are 'on the same page' as you with regard to family finances, then that's great. If they are not 'on the same page' as you and are unwilling to be on the same page as you, then you are in for a heap of financial trouble... Choose wisely...

[@nickd1973]

Definitely agree with that! My partner of 20 years are still not on the same page for family finances. Until recently this meant working things like I was a single parent.

[@mk1fourwinds62]

Amen.

[@JessicaFranco1]

So true! Makes a relationship so much more enjoyable as well when this is aligned 👏

[@tvb4227]

The sad part is at 50 you still making a poor mistake. I'm 27 and generating $600 per month of passive. Once I get around $800 to $1000 per month. Money will no longer worries me. Can work Part-time if I wanted to. The cheat code is never show anyone how wealthy you are. Always humble yourself and have fun. Once someone see's money on you. They start to think differently around you.

[@DawnDrifterAU]

@@tvb4227 dont give up your job just yet. just keep snowballing it. and like Nischa said your prime earning years are still ahead of you in the 40s. - if you get to 5-8k a month without lifting a finger, relax mission (mostly) accomplished

[@EchoesOfTruth11]

Tracking where your money goes really makes a difference! It’s surprising how quickly you can start saving when you pay attention. That advice about saving one month’s living expenses is solid-definitely something I would start working towards.

[@JeromeDMBR]

Indeed, since I track my money I have the feeling to spend as much as before but I have much more money in my bank account!

[@tonysilke]

Taking early notes as to the importance of financial literacy, sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any other suggestions.

[@Nernst96]

Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals

[@PatrickLloyd-]

That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.

[@PhilipDunk]

Do you mind sharing info on the adviser who assisted you? I'm 49 now and would love to grow my stock portfolio and plan my retirement

[@PatrickLloyd-]

My CFA Sharon Ann Meny , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@PhilipDunk]

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

[@HoverLopta]

the book that changed my approach to money is The Comic Guide to Financial Bombs all recommendations. It's completely different from anything I've read so far.

[@melalblas]

I find that hard to believe. If it’s so “secretive,” why is it being sold for 10 euros with no real information about what’s in it, except for claims like “it’s been banned”? Sounds more like clever marketing than anything else.

[@MagicSchool-iu9ru]

Nice bro this is good advices and yea book is great I already read it

[@Michael_Saidon9988]

Great book. Peope are really missing out if dont buy it.

[@israelmills7442]

Love your videos! I’ve learned a lot from you with regards to financial literacy I’m 41 in 2 weeks with no savings or investments and $65k in debt I spent a good many years in depression and being ashamed of my situation But now I’ve learned to accept where I am in this moment while being mindful of my money and where it’s going. Thanks for your help!

[@BK-gh9us]

Still plenty of time (if you start).

[@Neddie2k]

You are not alone, if you plan to retire at 65, you still have 24 years ahead of you. If you can invest 10k a year, you will end up a millionaire.

[@missr.]

Let me tell you my work colleague was in this situation 7 years ago (also had 65K in debt) and not only he has paid all his debts, he has invested in shares, his pension and has savings. You can do it too.

[@JessicaFranco1]

You’ve got this! Rooting for you and your success 💪

[@kanupreiya_29]

This situation shall pass. Be strategic and optimistic at the same time!

[@GailThomas-t1o]

I'm glad the caveat was said at the end of the video- LIFE HAPPENS :). I'm in my mid-60's, retired, and let me tell you, lots of unexpected life stuff can impact savings...employee lay-offs, sick relatives, career changes, that devious lifestyle creep. What matters is keen awareness of your finances and keeping your eye on the target.

[@rubiirae]

true. life happens, sometimes it's not only you get sick, but your partner, kids, parents got into situations where you'd need to help out. as long as you're making progress year after year that's all it matters

[@nikkijohnson5147]

True. I’m 42. My son is 22. He believed he had a teacher assistant for grad school. I read the webpage so I know why he believed it. It didn’t appear to be competitive or “only if available”. It looked like if you got accepted you would have it if you wanted it. But turns out that was not exactly the case. He’s in his first year of a PhD program. We stepped in and paid for his first semester’s tuition. Thankful that he stayed in state. (U.S.) He’s living off of his savings after moving out of our house, 6 hours away, and into an apartment and planning to start working on campus soon. 10,000$ over 4 years of saving. I’d hoped he could invest half of that into a Roth IRA by tax time. He may end up with the TA job in January as “many positions” become available. But he also may not and he’ll need a student loan instead. (Love him but not planning to pay for the next semester. 😂) So certainly, “best laid plans…” and all that. But he’s done a good job building savings skill, he took a a college level finance course, he is self disciplined and I trust that he will invest in the future.

[@Aengel9]

Investing has been rather rewarding to me and I've learned that getting a good return is very much attainable if you know your way around it.

[@Miawilmore]

How are you doing it and what did you invest in? I can tell you that not everyone is as lucky as you are.

[@Aengel9]

It's not luck at all. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $12k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. Now with over 81k in roi, I sit back and just reinvest at intervals while I handle my other businesses.

[@Pathston]

Do not forget that when it comes to investing, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence. It’s pure gambling.

[@Aengel9]

Hermanw jonas that’s his gmail okay

[@Freddyyyy266]

I can't deny that with his approach, I've been able to mitigate risks in this current market downturn, build sustainable assets, and prepare for future milestones, such as my retirement and my kid’s education. It's better late than never for me.

[@KeeptheChange41]

Save what you can and consistently invest. Be intentional with your money but don't make yourself miserable.

[@thomasthompson7268]

I am 46 and I have always tried this ... saving 10 -15%. I have had a period of illness, multiple job losses (I used to work in manufacturing -- very cyclical job cycle) -- The one thing I did is that I always avoided lifestyle inflation. Time after time my saving were getting depleted with periods of layoff. Two things that saved me from total loss as soon as I qualified I bought a condo and I made sure I had enough set aside to cover mortgage payments for 6 months in case of job loss (age 30). The second thing I did do mid -career was I took all my saving and invested in my education at 42. A lot of people said this was a huge risk -- I studied business and started a career in insurance. As far as liquid cash and investments, I am starting from ground zero-- 15 months into a new career I have re-invested about the equivalent of 4 months salary. (that salary is almost double what I got in manufacturing) My net worth has been protected by purchasing real estate as early as possible (unfortunately this is much harder now) -- the gain in real estate value has protected my network when I have had to dip into savings. Also with income improving I still shop at the farmers market, make my own meals, etc. -- In my own story, I definitely don't think I will have 3 years salary invested by age 50 in cash, savings and pension. However, the condo has increased almost 250% - 300% in 16 years. My net worth is about 5 years salary. In hindsight I wish I was more proactive with finances in my teens and early 20s. -- I really didn't know anything about finances or investing until 28 or 29. I really wish I had started a lot of things in my life earlier. If I was starting over today, I would use any resources available to learn how to build yourself up. ONE THING TO REMEMBER IS EVERYONE'S STORY IS DIFFERENT!! FOCUS ON YOUR JOURNEY AND DON'T COMPARE YOURSELVES TO OTHERS -- COMPARISON IS THE THEFT OF JOY (as the saying goes) I have learned a lot from Nischa's channel these past few months. It really giving me the confidence I can build myself up financially despite being a late bloomer in this endeavor.

[@IAmebAdger]

Thank you, a lot of good insight here. Great advice to start young and focus on each part of the journey while remembering to enjoy life. Worth keeping in mind as well that the real estate story would be really difficult to repeat for someone nowadays, not least because the abnormal period of ultra low interest rates is over and gone, probably for a very long time.

[@TatianinDen]

Thanks for sharing your story. Love it!

[@thomasthompson7268]

@@TatianinDen your welcome

[@thomasthompson7268]

@@IAmebAdger Your welcome and I agree that "starter homes" are becoming more scarce. I agree it is really hard for people starting out right now.

[@samb3783]

Definitely about the journey.

[@vlogerking8952]

The concept of Secret Pathway To Triumph blew my mind. It’s like finding a cheat code for financial abundance.

[@jackiemadegwa5906]

Who is the author

[@OnlyViralNEWS-fg1ku]

3 things that helped me and literally changed my life 1. I stopped watching porn 2. I read the book called 'The Comic Guide to Financial Bombs' 3. Stop drinking

[@blamemando428]

Great insights in this video! It's not just about saving but also about making your money work for you. By investing in solid assets like real estate, stocks, or mutual funds, you can grow your wealth steadily over time. Start early, even with small amounts, and let the power of compound interest work in your favor. Remember, it's not just about how much you save, but how smartly you invest. Your future self will thank you!

[@blamemando428]

I'm especially grateful to Milton Harper, whose deep expertise...

[@Lucinda-n1u]

My favorite TA man. always on the ball, honest and to the point I like his core analysis, one of the best.

[@MargaretThompson767]

I have seen so many recommendations about Milton Harper, his strategy must be good for people to talk about him.

[@blamemando428]

He mostly interacts on Telegrams, using the user-name,

[@blamemando428]

@MiltonHarper

[@nielsds2271]

I lived this FIRE lifestyle for a few years and it led to a burnout in my work and overall depression (just doing my work for the money, to save up). You also need purpose, meaningfull relationships , good weather (so travel money to escape the winter in Europe)

[@IAmebAdger]

Absolutely, budget in money for joyful and meaningful things, and budget in time for people you care about!

[@halfbakedproductions7887]

FIRE as a concept is sound, but some of the people who do it and the _way_ they do it can be just insufferable. You are "retired" aged 36 so you can "spend more time with your kids" who are at school all day anyway. You very likely don't have the money to buy them stuff, give them experiences, cover emergencies etc. and you are setting a dreadful example to them with regards to work ethic. You probably ride everywhere on rusty steel bicycles from the 1960s instead of having a car. You probably still have a 625-line tube TV from 20 years ago as well. "Retiring" (i.e. quitting work and living on modest side income) in your 30s and spending the rest of your life in borderline penury is not "financial independence" to me. I'd rather keep working.

[@adambritain5774]

European seasons sort the men from the boys. When the winter comes, the men get going. The weak run away to somewhere hot.

[@vincentgrondin7586]

@@adambritain5774 when it s dark what you wanna do

[@brianthompson6426]

My only issue is that this is general guidelines of money management for MIDDLE CLASS people, who roughly make average income (50k+) or more. This does nothing for people born into poverty from day one. Most impoverished people make less than 30k annually. Saving anything is almost impossible in those circumstances, in which case the reality is they need to make more money. The advice is solid, just not representative of lower income earners.

[@Simplelivingslowliving]

Great point here. I make 6 thousand dollars a year now as a mom of two working part time from home. Before I had kids I was still only making 27 000 a year. These guidelines are very very far from what I could ever imagine doing right now. But I do believe at least I’m on the right track. I paid off my student loans this year and contribute with I can to my retirement account.

[@ruthang9065]

You're right. For who's on on the lower side of the spectrum the first objective shouldn't be saving as much as you can but it should be "earn as much as you can" (advance career, switch career, do a job market research, study some specialised course). I've recently read a paper about the inefficiency of saving and investing for very low income earners. If you can save up 2k / year invest those money on enhancing your knowledge as the expected return of finding a better job is much higher than the average stock market return of 10%.

[@StevenCovey-ct3sx]

Unless you have serious mental health issues or addictions, anyone can meet these goals. A simple government job or driving a truck pays these wages. Invest 15% of your earnings into an S and P 500 index fun and you will be a millionaire at age 60.

[@brianthompson6426]

@@StevenCovey-ct3sx You are making the presumption that everything in their life for 40+ years will be perfect. Let's say they develop cancer or have a child who needs constant medical attention, home burns down, need a new car, etc. Many of these things will put someone who is making average income or less into a deficit or even bankruptcy. If it was so simple, everyone would be rich already. Here in southern NJ, the average rental income is 1500/month, you need to make twice that to apply and register for housing. $15/hr @ 40 hrs every week with no vacation or days missed equals $28,800 BEFORE TAXES. So, the average rental amount equates to 62% of minimum wage income. That is more than half your income to place a roof over your head. You still have gas, car maintenance/transportation, groceries, electricity, health insurance, (which you must have your own after 26yrs old or you get fined during tax season) and some sparse entertainment to keep you sane. There is almost nothing left if at all anything to even use as savings. Saving that slow will mean at the first emergency you will deplete your meager savings reserve in order to survive.

[@autumnsmart664]

Agree. There is no one in my life who earns £40000. The average salary in the UK is £27000

[@KennedyVerbruggen]

I sometimes wonder how successful investors manage to accumulate enormous wealth from their investment endeavours because I am an avid investor. I currently have equity from a recent house sale that exceeds $545K, but I'm not sure what to do with my money next. Is now the right moment to buy stocks, or should I wait for a better opportunity?

[@belobelonce35]

Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .

[@Tanner-c2m]

Many people minimise the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm solvent. I looked for licenced advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.

[@firefighter-i6q]

Recently, I have been exploring the possibility of consulting with advisors. As a mature individual, I am in need of guidance, but I am curious to know how truly impactful their services can be?

[@Tanner-c2m]

“Rebecca Nassar Dunne” is who i work with and she is a hot topic even among financial elitist in California. Just browse, you’d find her, thank me later.

[@NorthCarolinaForward]

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

[@InspireRise300]

We need to restructure our education system and begin to teach valuable stuff like this to our children at younger ages.

[@phased3941]

The problem is if everyone is rich, no one is rich. If everyone owns a home, no one is renting a home. Society only functions if the poor are taught to stay dumb and the rich teach generational wealth down to stay educated Syndrome from the incredibles was really onto something. "If everyone is super. No one is" lol

[@michaelhutchinson2854]

Saved 3 1/2 times my salary by age 30 super proud of myself…

[@aqumy]

you shouldn't be tho

[@joxidearmageddonator882]

@@aqumy good work bro those savings habits will look after you. i'm 35 and got 4 1/2 times my salary across retirement savings, current savings and investments (including a rental house). if Nischa thinks i'm doing well im pretty happy!

[@JohnDorian-j7x]

How much do you make?

[@11mexican11]

I’m sitting at 3x income at 34 but my income is reasonably high. But did sacrifice my early 20s as I got a house super early.

[@fr8128]

Your income before or after tax?

[@hejiranyc]

I'm 55, single, and just sold one of my homes last week, which I built almost 20 years ago. While I walked away with a 7-figure check, I feel like it was a total failure. I would have probably had multiples of that if I had just saved and invested the money I spent on it. It wasn't just the cost of the land and construction. It was all of the furniture. All of the decor. All of the trips to Home Depot/Lowe's. All of the utility bills. All of the tax bills. To add insult to injury, the house had pretty much been mostly empty for the past 10 years and was quickly falling apart. If I saved/invested all of that instead of spending it on this money pit, I would be retired. Admittedly, I'm still considered "wealthy" by most standards, but I would have probably been in an upper tier of "wealthy" if I didn't have the house. If I could do it all over again, I would not have bought/built a second house by the sea. If I really, really needed to get away from the city on weekends, I would have just booked a hotel/inn somewhere in the country. As it turned out, I much preferred spending my weekends in the city and felt burdened by the hassle and expense of owning a second home.

[@nikkijohnson5147]

I appreciate this honesty. I’ve family with second homes and beach condos. Granted they do rent them out and I’ve considered a similar approach. (I would vacation there too.) But I also see the risk and cost and stress first-hand. It might be simpler to just invest instead of take any of that on. Ultimately that’s what I have decided.

[@GiannisAndreou-b4t]

Yes, your idea is more correct than most people's ideas.I would consider some structured financial products, such as Snowball, which can provide better income opportunities in market fluctuations. Snowball can not only make profits when the market rises, but also bring income through reasonable settings when the market falls, and some products also provide capital protection mechanisms, so that you can control risks while pursuing growth.

[@milabolognini6305]

That’s insightful! There is a huge cottage industry in Canada and I always wonder if it is worth the trouble 🤔

[@foux6934]

We all live a different life. We all have different financial requirements. Your numbers shouldn't matter to anyone. Everyone should know their numbers for a happy life. Thx for vid Nischa .

[@halfbakedproductions7887]

Your lifestyle doesn't mean anything when not taken in context with the underlying numbers. You get cash millionaires who live like tramps and hermits. These people have an ancient car that is a coin flip on whether it'll start today, their home is freezing and falling apart, they will haggle and argue over the price of a 99 cone. I knew someone like this despite earning £400k a year, it was absolutely maddening and his family were miserable. He also refused to get any kind of security on his home (that costs money) and he was burgled multiple times, so his insurance premiums were just crazy. One of his cars was so bad that his breakdown cover came yey close to being stopped due to excess use - yes, that is a thing. You also get people living in a £500k house and are on holiday four times a year and have a Tesla, but they're paying the bare minimum on their mortgage with its brutal terms (because they're a risk) and will take the full 30 years to pay it off.

[@Oatmeal-Enjoyer]

Even though it's pretty common in the personal finance space, I'm not a big fan of having net worth goals based off of your salary. Salary can fluctuate greatly depending on raises, loss of a job etc. and doesn't actually give any indication of how much money you need to live. I like benchmarking instead on your yearly expenses. This number doesn't change as much and is a far better indicator of how much money you'll need to sustain yourself as you head into retirement.

[@janeelizabxth]

I’m in my early 20s and I’m proud to say I almost have 6 months of emergency expenses saved + almost 1 years of salary worth😊

[@burnoutlegend1]

Great job! What do you do for work?

[@Manos-de-Piedra]

@@burnoutlegend1 drug dealer

[@rajvenugopal]

You nailed it. Well done. Your timeline is quite realistic. I’m about to turn 50 in six months, and I can confirm that your assessment is accurate. Salaries in the 40s and 50s are typically much higher than those in the 20s and 30s, so some might feel the target is too ambitious, but I can guarantee that it is achievable and that your plan is excellent to share. Thank you for your videos.

[@dazza9859]

Average salary surveys are misleading.The vast majority of people earn well below the average salary.This because the really high earners drag up the average salary rate.Having 50000 saved by age 30 is unachievable to 99 percent of people.

[@prostmahlzeit]

Having a net income of 50k is already quite hard for 30 year olds in Europe.

[@ericcamarda3534]

Median vs mean averages. If median, high earners don’t drag the average up much, like it does with mean.

[@shellylofgren]

I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collabrative efforts in the fund my estate planner has me invested in. I do not work.

[@DavidRiggs-dc7jk]

I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.

[@HarrietBemish]

My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.

[@EllenAbrex]

If I may ask, as in withdrew all of the money from the 401K and IRA programs? If so, what was your strategy behind that decision? Thank you.

[@HarrietBemish]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Vivian Jean Wilhelm” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@EllenAbrex]

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

[@faysdt414]

Money is not meant to control people, rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place........

[@IshrakHossain-rt8is]

Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

[@LolMan-qy9cc]

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

[@whitefearlytales]

Yes! I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.

[@mfmcintyre]

His info pls 🙏

[@whitefearlytales]

he's mostly on Telegrams, using the user-name

[@jmlatulippe4278]

I was browsing KZbin to get that information. Didn't have to do it for long. Nischa is always right on!

[@Melior_Traiano]

Every finance KZbinr on the globe has made this video. They are all making the same videos, oftentimes copying the less known finance KZbinrs, who have to be innovative to get new views. And Nischa is quoting a well-known study done by Fidelity here. Its nothing new really, if you're at all interested in personal finance.

[@kimberlycobbs9303]

Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!

[@OnlyViralNEWS-fg1ku]

It's surprising how under the radar the ebook The Comic Guide to Financial Bombs is. If you're curious, It is definitely worth a look.

[@KarenLynnOlsen]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $750k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?

[@AmandaKatherineLeff-j9f]

Well you got a point truly but right now i feel e commence among other sectors are expected to really see growth but who know i might be wrong, These days the market is filled with surprises

[@rineleff2009]

With the current trend of the market my advice to anyone starting out in the market is to seek guidance as its the best way to build long term wealth while managing your risk and emotions with the passive investing strategy.

[@KarenLynnOlsen]

Interesting, I’ve actually been looking into that lately, the news I've been seeing in the market hasn't been so encouraging honestly. If you don't mind me asking who's the person guiding you?

[@rineleff2009]

I don't comfortably throw recommendations around on the internet, but I've been working with Nancy Magaret Delony. God ! she's brilliant! I'm sure there are others who are good.

[@KarenLynnOlsen]

Thanks for sharing. I curiously searched for her full name and her website popped up first thing. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.

[@theotahiti]

Extremely interesting advice, very practical! I have never seen anyone talk about this yet so it’s also very refreshing! I am 25 and my goal is to save up 3 months of expenses by the end of the year 🙌 I am on track. I also have a bit of money invested in physical silver and now starting to look at investing in stocks. Good luck everyone!

[@titaniumffclub9122]

With proper investing one should pay attention on how to increase 10X income in Next 5 yrs?🤔

[@rkw2917]

YMMV At age 35 I had a net worth of zero, but had an engineering degree and no debt From age 40 onwards I invested 4k per month At age 63 I retired with net worth of 2.5 million, which is completely sufficient for my lifestyle

[@vincentgrondin7586]

How did u invest

[@rkw2917]

@vincentgrondin7586 My company pension fund managed the investments They have been doing this type of investing for many years Not likely that I could have done better with personal investments PS. I'm not American

[@nickrowe1041]

Hi Nisha. You are always informative and I wish I had seen your financial advice when I was 20! I have encouraged my daughters (in their 20's) to watch your videos. Thank you!

[@r.j.hollcroft3289]

I love how succinctly Nischa presents the material (She can do in 9 minutes what others take 18 to do). I adore her accent, so even if she took 36 minutes to cover the material, I would still thoroughly enjoy the presentation….. I am in my 50’s, the guideline is alright - but everybody is different. I guess I boil my philosophy down to as a “shoot for the moon, and if you miss, you will still be amongst the stars”!

[@amphem]

Therefore, considering an average annual inflation rate of 2.5%, the purchasing power of $1,773,168.04 would be approximately $729,874.12 in 2059. This calculation illustrates how inflation can erode the value of money over time, reducing its future purchasing power.

[@leejo5160]

that's why we need to invest and is also why the wealth gap will be widening over time as poor people do not have means to invest.

[@harrisonturner1716]

something I picked up at the 2:50 mark, is that if you are earning 50k a year, that doesn't translate to have 50k a year to put into investment or savings accounts.....

[@renegadewolf2488]

Correct, not even 25k... Such a glaring error in assumption

[@joesamson8666]

04:58 you are missing a crucial point. You must have saved 3x your salary at 40 also means 3x what you are actually making at age 40 so it will not be 150K because 50K is what you were making 10 years ago when you were 30. If your salary does not go significantly up in 10 years then what's the point of all of this even?

[@jeremytoney9367]

I love these numbers because they’re so out of the range of people who are minimum wage employees. It is absolutely amazing to see the numbers that these people come out with because they don’t seem to be focused on those people who are minimum wage employees so whenever these numbers come out, it is interesting to me to see how they think that these numbers are going to translate to people who make minimum wage. Now for most of my career, I’ve been making minimum wage in fact for most of my life I’ve made minimum wage and I can’t seem to get above that I can’t seem to get away from that and the issue I see is that when these numbers are put out there most people are not Understanding nor talking about what minimum wage individuals should be doing how they should be operating or anything like that so the numbers are all great but minimum wage people make up a lot of the people in the areas where I’ve lived and where I live today and so I would say that if you’re going to put a video like this together, you need to make it as easy for minimum wage people to actually follow as you can But because you’re using the numbers that are your standards for middle and upper class that make that kind of money I would say that you have a problem with the numbers at least for minimum wage people because most of them from what i’ve heard say that it’s impossible to do any type of investing and so when people put videos like this together, I would recommend that they come at it from a point of view of people who are minimum wage employees who have thousands of dollars in debt and it’s not easy for those people so a simple reasonable plan is all you need

[@nischa]

I couldn't hit the target either (& I mention that in the video!). That's why I say that while the numbers are "nice to know," they shouldn't be the focus. Instead, I provide action points for each decade as a more practical approach for most people

[@GrandPlato]

Totally agree and understand the sentiments around these seemingly unattainable numbers for some people. The key is pretty much around a comment someone earlier made,which is understanding your financial situation and try to work out what’s best for your future based on all of the information you have, e.g. from videos like this.

[@shrabantibhattacharjee2901]

The numbers aren't the big factors, the habits are. I, myself have worked minimum wage job for years and live in an area where rent prices are touching the roof. However, I can't change the circumstances but I can change the actions I take towards them. She's not giving crazy goals to work towards rather financial literacy so we understand how to go about taking steps that will help.

[@livennlearn]

I’m just doing my best. These numbers don’t match my salary timeline at all, at 25 I made 25k, by 27 I made like 60, by at 30 I made 100, at 33 150, now at 36 195. There’s no way in hell that by 40 I’ll have 600k in savings.

[@alespogacnik]

@@livennlearn uau! You're earning 200k yearly?! How much do you spend and what for?! :O With that kind of money I'd save up a lot because I have only for about 20k of living expenses yearly...

[@robwaz1547]

Dear younger me ………… too tell you what I have learned so far ? The DeLorean is in the shop , so no BACK TO THE FUTURE “ just yet. WONDERFUL just wonderful work Nisha as always . YOU make this game of life so special. Thank you till next time 💐

[@benlikesdata]

In 50s.. I am probably an anomaly though as I put 30% of salary into pension consistently from early 20s. Part of it was my mindset, I have always been a saver and do not live beyond my means. Now have two young kids and first thing I did was open a jsipp and jisa s&s. Hopefully they will thank me when I am long gone.. I worry about the next generation and affordability of living.

[@leejo5160]

did you have your kids in your 40s?

[@slbelfield]

Median income in the UK (not by age) ranges from 44,370 in London to 31,200 in the North East with an average of 34,963. Just a heads up for those of us still not earning 50,000 a year in our 40s. Life goes on. And this is advice for a small group in the UK. Almost 46% of people in the UK have less than £1,000 in savings. 1 in 6 have no savings at all (that's 8.7m people).

[@leejo5160]

i wonder why, is it because people in the UK spend too much?

[@GillerHeston]

The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?

[@joshbarney114]

It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[@rogerwheelers4322]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.

[@FabioOdelega876]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@rogerwheelers4322]

Finding financial advisors like *Marisa Michelle Litwinsky* who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@FabioOdelega876]

I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

[@JustinHyneswashplant26]

Love the channel, keep it up

[@romeshpillay7292]

Enjoyed the content, SUGGESTION: please make a video with different scenarios where people start late, in their 40s.

[@NormalCatVideo]

I'm in my 20s. Thanks to god!! I saved pretty much. I brought house and land and also have some savings. Hope this goes well in intire life. Now, I only need to take care of my health. I lose my muscles and bone density. I don't know why and how this happened..

[@titaniumffclub9122]

In 20 loosing muscles & bone density ?🤔

[@NormalCatVideo]

Yeah, I'm loosingmusclesand bone density. I had a stomach problem last year, the doctor says. Is is because of stress.

[@abdulaliakbar1175]

40 years old 200k savings and debt free.

[@GiannisAndreou-b4t]

You are more successful than most people. Do you have any experience in investing?

[@johndoe-qr6yd]

It's interesting to see these videos. I've just turned 40 and am so far behind this, I was an idiot in my 20's and spent that decade partying, got a house with a mortgage at 31, went into a bit of debt from personal loans but nothing to serious and now I'm just starting to take retirement seriously at 40. I make around £40k per year and from the maths I've done it should work out fine as long as the state pension is still there when I retire at 68.

[@adambritain5774]

For all our sakes i hope it is but nothing ever gets better for us, our leaders only make our lives harder so i’d be expecting to not get it if i were you.

[@vincentgrondin7586]

You are totally NORMAL then! Most young people party, start to be more serious from 30 and from 40 they think about retirement. No stress. Because at least you think about it in the middle of your career so you can change everything from now without stress. Never regret to have enjoyed stupidly your 20s as long as you got smarter when you reached 40. Innocence was great and allows us now to be more adult.

[@OGFury]

The amount you should have saved will depend on a multitude of factors - the Fidelity numbers used appear to only consider the amount saved / used for investments, however this amount would need to vary drastically if, say, you were a renter, or had partially/completely paid off your mortgage. It may be more relevant to consider net wealth by age?

[@SyriusOLsh]

Love the clarity of this video!

[@jakecoventry9004]

I like the idea of opportunity cost and how we don't think about it when saving. A £1000 TV in 5 years is worth nothing, but at 8% that £1000 is worth almost £1500. So, every £1 you save now can be worth £1.50 in 5 years time. In just over 8 years your money is doubled (at around 8% compound interest). So, I have tried to change my thinking. I ask myself: Do I want this now, or 1.5x in 5 years, or double in 8.5 years? It makes saving more interesting in my opinion. Some things you might say, well yeah.. I'm happy with that. Others you might think yikes.. I don't need that!

[@Bel989-rc3lx]

I wish this sort of stuff was taught at my school when I was younger including how to invest, tax free accounts, how finance works, credit cards, debt management, credit scores and pensions etc etc. I only started investing a few years ago after getting out of a £16,600 debt and I'm renting and reaching 40. My pension isn't even in the double figures range (not including state pension), just a bit worried that I won't have enough in retirement and I need to some how get a house. However at least this video gave me some context on what I should be aiming for.

[@Aethelwulf91]

Hi @nischa, I think it's important in these videos to also highlight the critical assumptions in the forecasts. For instance, assuming an 8% return over a 35-year period from 30-65. Sure, it may have been the case from 1989 to now (maybe even better) with a traditional 60:40 portfolio. But it's a pretty big assumption to make that it will repeat from 2024-2059. It might, but also very possible that it might not. Also, e.g. a 5-6% return compounded would change that final number quite dramatically vs 8%.

[@mdaje]

say that's about right, at 54 i'm more ahead than the numbers you are giving, i've been working on this since I joined the Navy at 21. I knew in the end it's about money in the bank. no debt and I continue to invest, invest, invest. lose weight, limit drinking and lift heavy weights. I continue to work on these things.

[@joaquinm7502]

I wasn't planning on saving for retirement but relying on my pension which I will get 85% when I retire at 63 and I'm currently 45. I just started by 401K and I'm saving $1000 a month and plan to expand it $2500 in a few years after paying off my debt. I don't plan to touch my saving until 75 when I will have to withdraw it and place it in a standard investment account. The investment calculator estimates I should have about $2 million at 75 assuming 10% interest.

[@KR-xv3ko]

Hi! Love your guidance. I’m 49, so almost 50, and Fidelity’s goal is laughable, but in a really good way. What it doesn’t take into account is salary growth in prime working years. In our 30s my spouse and I made about $225k combined. But by now our combined income has more than doubled - it’s a big jump in a short period. If I calculate our assets based on our earlier income, then we’re ahead of 6x, but if I calculate it based on current income then we’re at about 3x. And there is no way to do catch up contributions to reach the Fidelity goals because at this age we’re saving for college, supporting parents, and still paying our mortgage. The costs of being part of the sandwich generation are real. So our investment contributions will only increase a little bit. But that’s OK! Our retirement should still be well funded because by retirement our mortgage and other major expenses will be gone. So between a conservative 4% investment withdrawal rate + US social security + pensions, we should have plenty to live on and let our base portfolio grow so we can pass it and our home to our beneficiaries. So this was a helpful exercise for considering goals. 😊

[@thefaydou91]

I’m so glad to hear that I’m in the right way even if I started investing my incomes at 31.

[@vincentgrondin7586]

You are young ! Well done

[@omotolaadegoke8830]

Thank you, just the video I have been looking for!

[@JamesKerr-z4o]

Great Video, I’m in my 50s, I suspect most people are behind and if you rent you will continue to be behind, for me since the mortgage has been paid you can catch up a lot by using the money you have spent on the mortgage and use this to invest. It is easier to catch up than you think if you can get rid of the mortgage.

[@karanGMR745]

Secret Pathway To Triumph is so unique. I can’t believe I hadn’t heard about it sooner. It’s amazing how life-changing this can be.

[@13ankur]

Love you Nischa!!!

[@wim3231]

I am 43 and I have always kept my spending in check. However, I did move a couple of times, buying new and better homes in better neighborhoods as my income increased. Now, I am close to the number you suggest for a 40 year old, but most of it is equity in my house and not liquid cash. What is your view on that? Is it bad to have most of your wealth locked up in your house, or not?

[@diegoboella3920]

When talking salaries do you mention them before or after all the taxes ? Young French citizen here and the difference is quite huge with more than 1/3 going into taxes

[@AlexanderNecheff]

Fidelity's guidelines specifically are based on pre-tax income. I'm not sure how it is in France, but in the U.S. this is part of why people make a big fuss out of your tax strategy. Some retirement accounts let you take a tax deduction today but you pay the taxes in retirement at whatever your rate is then; for others you pay tax today but are not taxed in retirement. If you don't make enough to max out all those accounts, then you are trying to wager when you are going to need the tax break more.

[@AnnaC-c4h]

I think the one thing this video doesn't take into account is the fact that savings are there to be used for necessary purchases, the largest of which would be a home, but also potentially a car, further education, medical / dental fees, home maintenance, etc. House deposits in particular are huge these days in the UK. So essentially, every pound you save in your 20s, 30s, 40s, etc., isn't going to be invested over a very long term period.

[@NikMalov]

I was always curious - when savings rate is defined in percentage, is it pre-tax or post taxes? US-based folks tend to use pre-tax amounts (arguably because taxes are vastly different from state to state) but you're located in the UK and taxes take significant portion of the income (same for us here in Germany), resulting in "save 10-20% of your pre-tax salary" to be _vastly_ different from "save 10-20% of what you eventually receive after taxes are paid out".

[@viktoriareissler4021]

One could argue, that we have a lot saved up for our retirement here in Germany because it's deducted straight from our paychecks but I am not so sure that will pay out in 35 years. 😂

[@NikMalov]

​@@viktoriareissler4021 Yes, I do try to consider the 1.5-2.5k euro I'll be getting in the form of a pension iff I keep working with the same diligence, yet all those advices about percent of savings are then barely applicable, but calculating the Rentenlücke is much more tedious task, than take a simple number and use it as a north star.

[@nitehawk9270]

I've never had a budget at 40. Haven't invested. But i only have total 70k liabilities for home loan combined. Half is mine, half is hers. (Tenants in common). Fully offset, 3 months of savings, income protection insurance after that. 250k in funds to invest. Net worth individually 920k AUD. Saved 43000 in six months. About to pay off mortgage, max out concessional retirement limit, change to a more aggressive retirement strategy. Stupidly on balanced. Nobody taught me this stuff if i could go back in time....

[@mysticery]

The problem with all of these videos.. they tell you with all these great annual interest rate gains. But never actually teach how to get that interest rate gains. Like yea, I get that compound interest works wonders. But how and where? The numbers in these kinds of videos can only be realized for really financially savvy individuals.

[@kavindagunasekara1384]

Try US etfs like VOO.. research on them

[@Dave-jh7rj]

Man, I’m in my forties with hardly any savings. Thought I was doing ok just paying my mortgage and having no debts and a pension 😂 Paying £1500+ on nursery fees keeps the funds down mind

[@IAmebAdger]

Of course the maths changes if you have expensive child care! It is common to have little savings in this situation, but not to worry, we can make an effort to catch up once the child expenses are finished.

[@Chris_Grant]

Your pension is savings. These target numbers include your pension.

[@orjval]

Hi Nischa, thank you for making all of this knowledge avaliable for free for us. I've been learning a lot from your videos lately and feel pretty much ahead in these goals (I'm 25 and have almost saved 1 year of salary already) BUT I'm Colombian. It feels like inflation makes the situation completely different, that amount of money saved is not the same for me and for people with a strong currency. How these goals would change in this context? Inflation here is like 4 to 7% anually. I would really appreciate your take in this. THANK YOU!

[@orjval]

Btw I hope to be able to move abroad before 30, I don't really plan to do my life here, so when I make the conversion to euro, making calculations for tuition fees, plain tickets, a visa, all of that, it is not even close.

[@jeffherringa4709]

I think you focused on the 60's twice. Because I didn't start saving and investing by age 25 (mine was 45), I may need to work part-time in retirement for at least 3-5 years to make ends meet. I'm now 56 years old, but have savings, investment, and I-Bond (Internet Bond) accounts. I also have a pension and a 403b/IRA account as a public school teacher in the United States.

[@AT-hs9nf]

The key is habits and lifestyle creep. Going to turn 42 this year and all my friends I see are always complaining and yet I see them eat out 4 times a week. A simple change can help here. Cook at home. Things are always possible when you are disciplined and focused. I started at 29 and yet I am sitting on 1.5 mill net worth and maxing all my retirement buckets. Yes education and job profile/salary certainly helps and having no kids help too but it's all do-able if one finds that balance and discipline. Simple decisions can change life. And i am in no mood for FIRE bs either. Love working, will save and enjoy life each year in a systematic balanced way BUT making wise decisions along the way. That's all one needs. Not easy but 100% no room for excuses.

[@JeromeDMBR]

Or you could eat out only twice a week :) To me these kind of habits should be treat instead. It makes it much more enjoyable when you eat out because you really want, not because it's easier

[@AT-hs9nf]

@@JeromeDMBR lol. Yes agreed. And what I said also automatically implies that sure one can eat out everyday if you have your shit together. Just don't whine you can't save 😂😂😂.

[@Bossman525]

@@AT-hs9nf Lifes too short bud. No joke, we can have health issues in the blink of an eye. Loosen up and start ENJOYING LIFE Pal.

[@AT-hs9nf]

@@Bossman525 Assumption is the biggest sin bud. Did you not the read the word balance or you just assumed that I don't enjoy 😂.

[@omotolaadegoke8830]

Any videos on if life has gone wrong financially (not even close to entirely my fault) and at just younger than 40 a person is starting from zero? No benefit of compound interest, unemployed at present, no savings, cry worthy situation? Constructive advice, recommendations, suggestions, directions?

[@kofco1757]

excellent video as always. thanks for sharing Nisha! getting rid of any debts besides mortgage will definitely give you more room for investing.

[@luisdotgarcia]

Getting Financial Knowledge also requires getting Knowledge about Life. Experience comes with living Life. The best Investment Strategy that a Man can make is never get married or demand a Pre Nuptial or 50% of the Wealth gathered is gone. That’s what I did. I’m 52 and I lived though the best times the 80’s, 90’s and early 2.000’s so now I’m Single, living for myself and saving around 10/20% to Invest 50% for Expenses including a Life Insurance for my Son and the rest to Travel/Enjoy Life. Men Don’t be obsessed with Money or Money will be Men’s Mental Downfall. There aren’t Banks in the Cemetery.

[@ToolReviewsofToolsIUse]

Very good Nischa. Please do a podcast with Damian, i think you would be great to have on there. Keep up the good work.

[@manymoms920]

I didn’t invest for myself. I invested for my daughter. However, I’ve got final salary and civil service pensions. Started at 20 now 51, I think this will cover my retirement, but financial channels don’t talk about these often

[@Mauler-Squad]

Paying the mortgage off is not the last priority...

[@prataprudra]

Assuming 8% without any sensitivity for 35 years is not cool. This why these kind of videos dont mean much and is doing more harm than good.

[@INGnative77]

I absolutely LOVED this video! Great information condensed and easy to understand however I’m in my late 40’s and not where I need to be according to the info. I was a huge saver in my 20’s and 30’s that helped with a down payment for my home & a home for my mom plus still had a good savings & 401k. Oddly enough, I became in debt when I decided to go back to school and finish my bachelor then grad school. I use to proud myself on not having school debt yet earning near what others with debt made. I decided to change careers so going back to school was needed. At 48, my goal is to pay off 2 credit cards so that I can start back saving & investing. It doesn’t feel good when the majority of your earnings are going back out- I did it before, I will get there again by age 50. My mom would say, “it’s not what you have, it’s what you keep”. Savings to me means peace. Thank you for the video! 💛

[@sevalle]

i always find the argument of paying off debt before investing interesting. Like I get it in theory, but as an American I always feel you should be maxing out things like 401k and Roth IRAs first, debt will be paid off eventually over time but you can't go backwards and contribute to your 401k/IRA later, they have strict annual maximums. If you wait until 30, 40 or later you lose 20+ years of investing for your retirement/future. My thought is make your minimum payments, max out your retirement accounts then put the rest towards principle of debt. As my oldest child has turned 16 and gotten a job I have taught her the same, max out your Roth IRA ASAP then worry about the rest. This is the order I have taught all my children, 1. Bills, 2. Fill up your gas tank, 3. Roth IRA, 4 Fun and save for rainy day fund.

[@machineoutlivestheman1192]

In my early 50s and I only approach 6x salary if I include home value. Otherwise it’s like 3x. That said, this multiplier model is problematic to me. It assumes that someone with a high salary is going to live extravagantly in retirement as opposed to someone at a lower salary of same age. 6x a 60k salary = 360,000 6x a 200k salary = 1,200,000 That’s a huge swing in expected retirement accounts for same age. My goal is to earn as high of salary as I can now so that I can live like someone with a much lower salary in retirement . Modest home in modest region that is paid off, modest vehicle that is paid off. Eat a lot of ramen noodles , etc.

[@OneAndOnlyMe]

The advice I always give to people is you should aim to be earning no less than 1,000 x your age. An important thing to keep in mind is that healthy life expectancy in the UK is age 63. For the best retirement, you want to aim to retire in your 50s, before your health starts to deteriorate.

[@willwright8066]

Do you consider houses/ flats/ properties as investments, down scaling when retiring is a common practice, Prehaps worth a video on property investing? Keeping them as financial sources as well as selling for capital??

[@travel_addict1111]

3X in 40’s! I can’t save anymore. I’ve cut so many things like cable, phone plans, Netflix etc

[@jaydf2180]

Yeah fr I cut as much as possible there’s barely any room left for savings

[@joxidearmageddonator882]

This includes your pension/401k contributions btw. If you've been paying into it for 20+ years you'll hopefully have most of it in that already

[@michaelhutchinson2854]

You’re not even trying!

[@jaydf2180]

@@michaelhutchinson2854 I’m studying alongside work to try get a higher pay grade and up for a promotion, should I get paid more I intend to spend the same. Fingers crossed

[@travel_addict1111]

@@joxidearmageddonator882 okay thanks for clarifying that. I’m thinking of just savings. I’m there then for someone in their early 40’s

[@ehderguyyashootadeerorno2313]

Great info, but at 5:16 when you talk about 3x by 40 making $50k, if you were also making $50k at 30 that is correct. The issue is if you are making $50k at 30 then at 40 you are making like $75k which means your goal is $225k and your monthly savings rate needs to be higher.

[@jobhde4590]

Thoughts on including student finance overpayments in the paying off high interest debt?

[@DominicVella-i8v]

Currently 37 income is around 200k aud, I'm at about 18x my income, not including the ppor... compounding definitely helps especially in high inflationary periods

[@williamkauffman-j9i]

I was US government worker, I did all of this, now age 69 yo, and it worked for me

[@sukh6566]

Hey Nischa, is there any way you’d be putting your videos in an audio format like spotify? I’d love to listen to your advice while commuting etc

[@RK831]

I am 55 and made my first million when I was 51. I started when I was 27. People say that the first $100k is the hardest. No way. The first million was the hardest. The rest is a matter of compounding.

[@konsta12233344455555]

Hi Nischa, great videos. If possible please use median values as the average gets skewed a lot by a very low percentage of high wealth individuals.

[@McKnightCutkosky]

I am regretting not investing in stocks ever since but still grateful i kept money in the money market. With about $200k maturing soon, i plan investing in the stock market. What stocks should I look into as a newbie to safely grow my money

[@adelineChulack]

Thats when you hire someone to manage your money. You need a (CFP) straight up! personally, I would invest in ETF's and also love investing in individual stocks.

[@ManojAgadi]

Amazing Information Nischa.

[@ryansatchell2302]

My question is: where do big life purchases come into play? Sure, saving 50K by 30 is very possible. I'm 31 with 80K cash/invested and 115K in 401K. But now I'm looking to start a family. Which means: buy a ring, get married, buy a house, have children. All very expensive life events. Should we be saving seperately for this? Obviously we can't really use the 401K, so do we now drain our savings and restart? That's what most of these videos don't take into account. Saving your salary by 30 isn't the issue. It's what comes next.

[@Richard-n5f7w]

I consider myself to be fairly financially savvy, and doing good compared to the average medium. These figures do seem a bit ridiculous and unrealistic, as it seems to suggest a life whereby nothing else happens other than optimising savings growth (what about everyday life and unexpected costs, dependents, financial committments, a new car every now and then, holidays with your family, etc). But as far as "raw numbers" go, these figures are interesting and I will adopt them as a guideline model

[@Nischa689]

Richard, I’d like to properly address this comment but due to the new YT glitch, refer it over there & In order to view the whole comment, you have to move from top to the newest in the comment, so simply tap the newest comment and locate your comment to fully view...

[@Nischa689]

GmaiI -nischashahfin Disclaimer: abiding to KZbin’s algorithm this is normal

[@edwardroberts739]

I'm 47, and I have 52k saved up ... definitely not meeting your targets, though interesting to hear. I certainly have not had a well paying job through most of my career, though I have not been poor either. I'm now looking to put money in my pension, rent a room, and have a few other pots of money to reduce risk between now and my retirement at 67. You might want to do something around what to do if you are behind targets. For example, I think that paying extra into a pension fund is a winner (my options here are good), followed by Vanguard or 2-1-2. And, of course, tracking money out, which I am terrible at!

[@shijotg]

The best strategy for retirement planning to always have 15 years worth of expenses in fixed income and the rest in equity. Rebalance it every ear so you always have 15 years of expenses in fixed. Change it only when you approach your 90s. This will give you peace of mind and not bothering the daily or yearly market fluctuations.

[@ashleyag15]

Fantastic video! Wished I seen this in my 20s!!

[@dddddbbb]

I definitely didn't do this - although I'll be finishing paying off my mortgage next year (44). I'm surprised no mention of house/property worth being factored in. My house is now worth twice what it was 13 years ago. If I'd saved as much as this guide recommends I couldn't have bought it and would now be unable to afford it.

[@maudesills-neron4698]

I would love a video about netwealth by age group, because I would assume those numbers would be very different depending on if you have a property or not, and what part of the mortgage is paid off if you have one. And that is just one thing that comes to my mind, there must be other assets that influence those numbers a lot.