How to Be Wealthy By Age! (2025 Edition)

[@Alexandra-en1vr]

If Bo isn’t excited, then I’m not excited

[@rayzerot]

! This !

[@aas55]

Luckily Bo is always excited 😂

[@maxm2656]

That Stephanie Janis Stiefel lady just discovered life on another planet, repaired the ozone, created world peace, defeated Thanos, Darkseid, Apocalypse, the Antimonitor, and Galactus while also repairing the DC and Marvel timelines, and she’s even more excited than Bo.

[@derekcox6531]

I love that scambot! Please please scambot overlords….lets me use bad English and bless god for my imaginary 30k weeksly from my scambot advisor😂

[@makayla4292]

I unwittingly followed your car rule when I bought my car after college when I started my first job. I put down 35% and the payment was $280 for 36 months on $86k salary. I’m grateful I had the right instincts on those choices but the truth is I had no idea what I was doing, I just thought more money down and less time on the loan = good. But I’d never do that again. Looking forward to buying all future cars in cash

[@derekcox6531]

You’re a wise person👍

[@KenistonKist]

I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Brooke Miller for helping me achieve this

[@JohnKenneth-f7w]

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states

[@fameswap-dq5eo]

The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.

[@HighlightsSerieATIM]

I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.

[@shandegabrielrojas9350]

I'm new at this, please how can I reach her?

[@aarizphilip]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

[@DavyDavePapi]

25, just hit 7k in my Roth. I live with my mom so I can invest more aggressively and save for my emergency fund as well. The only issue is I work a really low-salary job

[@JusCallMeAnt]

I’m 27 and have only 9k in my Roth. I’m on a 45k a yr salary. You’re doing good brother, keep going. I’m doing college work on the side so by 30 I can make more. Maybe think of side hustles or a way to make more in the future my friend.

[@rodeerex4413]

The key is to have multiple jobs. I’m 26 with about $190k from working 2 “low” paying jobs and odd jobs every weekend. Day job went from $15/hr to $25/hr and night job is at $18/hr. Living at home means you have no excuse to not be saving, assuming most if not all your bills are covered and you just spending money on eating out. Its a tough grind but very doable

[@azeemsiddiqui4764]

Please put timestamps in your videos. It's hard to keep track.

[@Zombiebeast1995]

Just watch their highlights, they break down each question or topic into a separate video

[@rffinances8567]

I'm glad you mentioned focusing on the job when you're in your 20s. There's a lot said about being frugal, avoiding debt, etc., early on, and this is great. But the thing that will really jump-start financial success is getting a good-paying job. Formal education may be part of it, but this can be taken further by continuing to learn, developing skills, and networking through your career. Though there isn't a set path to do this and it depends a lot on natural skills and interests, along with luck. But getting a job that pays well makes building wealth so much easier.

[@Michael-uf1hz]

35 and only 20k away from hitting the mark for the this decade, which is about 1 year savings for me, how exciting, thanks money guys you made my day.

[@michaelkeith6298]

When Bo said hey that’s my line 😂😂😂

[@justthebrttrk]

I feel like making savings goals multiples of your gross income is a bad metric for retirement readiness. You are ready for retirement when you have 25 to 33 times your EXPENSES saved/invested (3-4% withdrawal rate). Gross income is kind of irrelevant when trying to figure out if you can retire. If I only live on half of my income while working, there is no reason why I need 23x my gross income to retire.

[@sergioperez1543]

I think they do this because it allows them to give the same goal to all income levels, which is nice IMO. Also using this figure the multiple goes down each time you get a raise, which could motivate you to increase the savings rate to achieve the goal. Apart from that I 100% agree with your point.

[@justthebrttrk]

@@sergioperez1543 why would the figure go down each time you get a raise? Do you base this figure off of your first job's salary? I've doubled my salary since graduating in 2018. I have 5x my current salary saved at 29 years old. But 10x my starting salary out of college. I only spend about 40% of my income. So why do I need 23x my salary? Makes no sense.

[@Rob-me8vp]

I agree with you, but where are you getting your 25-33 multiplier? I have expenses of close to $15k so both the salary and expense multipliers seem high.

[@justthebrttrk]

@@Rob-me8vp 25-33 is based on a 3-4% starting withdrawal rate when you retire. So for $1M you would withdrawal 30,000-40,000 in the first year, adjusting for inflation each year, depending on your risk tolerance and retirement length.

[@sergioperez1543]

@@justthebrttrk Let's say you have 1M$ saved an you get a raise from 125k to 250k. In that case, your net worth goes from 8x your income to 4x your income.

[@Baseball11626]

Going from 3.1x at 40 to 12x at 50 is an absolutely wild suggestion. Using your 8% growth suggestion, you'd end up with 6.7x just based on growth (and no further contributions). According to my math, you'd have to save about 34% of your gross income from 40-50 to reach that goal.

[@sally0404]

I agree! I have been blessed to have increased my salary a great deal since my 20’s but doing the quick math based on my current salary about to begin my fifth decade there is no way I’m even close to this number! I don’t really know if this is based on that original income of my 20’s decade. I hope so because otherwise I’m tapping out 😂

[@chrishayes4166]

Well the topic is "wealthy" by age so I think it's meant to be in the upper tier of the range. At 39 I'm currently at 5.9x income in invested assets and projecting it out to 49 (with lots of assumptions of course) it looks like roughly 17x income is possible. But it does require a significant savings rate which is probably overkill if you're not hyperfocused on early financial independence as a goal.

[@WJKramer21]

12x at 40 is hilarious and unrealistic.

[@DrCarolynTheLibrarian]

Well it would be at 49 (exiting the decade) not 40, but I do agree that 12x is incredibly aspirational 😅

[@Zorlig]

If you start at 3.1 and it doubles it's 6.2x. if you invest 25% that's another 3.75x. together it's ~10x. If the market does better or if you income doesn't increase as much then you can hit 12x.

[@rashaadforehand8979]

Great quote “…..you don’t want to be all hat no cattle”

[@muuserid77]

I get that finance content is repetitive, but this feels like an exact replica of so many prior MG vids. Would love to see a different spin on one particular piece, an example on the screen, or something

[@cruisinusa5110]

The show used to be more freewheeling with more diverse content. I remember an episode about economizing at Walt Disney World a few years back. Back in the beginning there were more concrete suggestions as well. It does seem to have become a more corporatized version of its former self geared more towards marketing the firm. Which makes sense given they now have 40 employees. But I agree they need to mix it up a bit more.

[@Ravetar101]

reminds me of Graham Stephen. Used to love him but he says the same thing every video so i got bored lol

[@kuebby]

@@Ravetar101 He's also sold out to scam his viewers... So bored is probably better than believing him.

[@KiingM]

Financial advice has a celling. There’s no new advice.

[@leitm3912]

@@kuebby that's not entirely true, the "scam" also scammed Grahm, he didn't advertise it to his viewers knowing it was a scam, he just didn't get legit info from them before accepting their sponsor. He never intentionally scammed anyone, just got caught up in a bad situation like many others did.

[@Killerskillz]

Would you consider spending some time in future videos advocating for someone to avoid purchasing a car? Maybe in a video remind people that it is possible depending on their needs to live without a car, and reap the benefits of avoiding insurance, maintenance, and debt, say by using a bike or public transportation instead.

[@jynaemiller1170]

🗣🔊.. I absolutely LOVE ❤️ it here‼️

[@minajohnson2196]

I love these videos! It’s not new info, but it’s fresh encouragement! I cannot thank you enough for giving this education for free!

[@xmochix604]

one of my favorite episode to keep me on track

[@mcdurmont8308]

So does “savings” mean investments (Roth, 401k, etc) + cash savings (monthly cash savings) = 20%? Or does it mean cash savings after your monthly investments?

[@thomaslunden]

"Savings" is cash savings and investments.

[@Ryhm14]

I believe these guys usually use it to mean cash for an emergency fund, then investments beyond that (for the 20-25%)

[@superblump87]

Another bage upload!!!

[@Atrus999]

I'm excited!

[@spoonkies]

I am SO EXCITED

[@hisayoshi]

Did Beau mean 23 times annual expenditures or gross income? If it's gross income, the number becomes ridiculous.

[@leitm3912]

gross income, and no the number doesn't get ridiculous. for the average salary in the us it's less than 1.5m in your investments by the END of your 50's. That's actually pretty low in my opinion. I would hope to have double that or more by then

[@vchap01]

The planning should be done with your annual spending + health benefits and Roth conversions - SS, pension or any other guaranteed income. I only spend about 30-40% of my total comp and invest the rest. 25-33x of your annual spending (minus SS and pensions) is a good place to be in when you are 62+ y/o but a lot of people have a happy retirement with significantly less money. Retirement planning (taxes, health insurance, diversification, Roth conversions...) is the important part after you have reached that goal.

[@taylorjackson7908]

A new car in your early 20’s could cost you 3-4 million dollars at retirement.

[@kevinmott9046]

Great point. I love my Tacoma though and plan to keep it for the next 15 years at least if not more. 36000 gone from investing but having no car payment combined with reliability is very nice now.

[@jameslewis1467]

Thanks!😊

[@aidencurry8216]

Almost 500k subs guys let’s goo!!

[@findusfaithful18]

Great video! Does your house equity count as an invested assets when you're figuring out if you have 3x your annual gross income?

[@Youknowwhoiam1234]

When you say invested assets are you referring to net worth? So I mean like house, 401k, Roth, brokerage, and emergency savings?

[@p1qt.h4ndl]

Wait...not just so excited?

[@cristinap5479]

Is the 25% savings rate from gross or net income?

[@2744ducksdman]

Gross, including employee match unless you or your household income is over $100k-$125k/adult

[@janeshen91]

@@2744ducksdman what happens when your household income is over that?

[@theryster77]

Been waiting a year for this!

[@greenlantern1986]

Why? It's literally always the same.

[@sarailicourt5124]

So when you say "saved 3.1x" do you mean out of pocket or including compounding?

[@isiah675]

The total balance including everything.

[@sarailicourt5124]

Thank you!! ​@@isiah675

[@Engineers_Shred_Too]

Nice video but I don’t think setting gross income multipliers as targets makes any sense. Targets should be based on living expenses. If my savings rate is 50%, you are saying I need 46 times my living expenses for financial independence based on your 23x gross income target, which is close to 2% withdrawal rate. Way off!

[@justeder01]

Gotta reach that bowling point! 🎳

[@dreamergirl6017]

In “invested income”? So even if I am saving 25% it needs to go into investments? What about buying a house or savings for children?

[@eldersprig]

may be try disposable children? :)

[@laundrygoddess4]

Typically savings are a total of all your saving needs. Large goals, investment, sinking funds etc

[@RushButter]

You gotta save extra. Or hold off on buying a house or saving for kids. If you really want to save for kids and a house, you can truly make it happen. Will you be living on super little, yeah, but that’s ultimately the sacrifice required to reach one’s retirement goals but also do other things, such as save up for kids or a house.

[@Zombiebeast1995]

I’ve been watching the for years. You need to know your goals and your why. You should be investing the 25%, kids come after that (they don’t give retirement loans but they do give loans for school and cars). Also, if a house is very important to you and you don’t have wiggle room it is ok to reduce your investments for a small time frame to get the house. Put 3-5% down on the first one. Make sure you are scared for those 1-3 years you reduce your investments so you get back to 25% ASAP. Also, you are ahead of the game if you reach the investing rate of 25% before you are 30-35.

[@Zombiebeast1995]

Also, if you are under $200k income you can include your employer match

[@JKnKC]

My wife and I are both 34, she works as a teacher and has a pension plan through the state of Kansas for being a teacher. I'm currently investing 10% into my 401k, with a company match of 6% and then I'm sending 5% of my paycheck to a high yield savings account and another 5-10% to mutual funds each month outside of my 401k. Are we doing enough? We got started late (2.5 years ago), and I'm worried about playing catch up.

[@jasonbourne6383]

You are saving over 25% and I’d say you are doing well. If I were you, when you get any raises (or she does), I’d put the majority of it towards saving, and then a bit towards your lifestyle. I’ve kept doing this and raised my savings rate over time to 50%

[@nikovaude]

You scared me there for a second Bo.

[@Sarah-du8fc]

What do you do when you just hit 40 and have zero savings, zero investments, and have debt? It's overwhelming, and I know the boat already sailed, but what do I do now?

[@thomaslunden]

Refer to the FOO- save up enough cash to pay your highest deductible, maximize your employer 401k match, aggressively pay off high-interest debt, save up 3-6 months of emergency cash, then work up to 15-25% savings rate (ideally through a Roth IRA, Roth 401k, and HSA). 40 isn't too late, but you do need to be more diligent. Reduce your expenses, increase your income, sell stuff you don't need or use, and focus on what you CAN control.

[@JKnKC]

Start. Just start. They always say in other videos the best day to start saving/investing is today.

[@jasonbourne6383]

Lots of people are in your position. Well done for watching the video. This video is the aim if you want to be wealthy so is kind of the ideal. I’d start and try to ramp up your savings rate as quickly as you can

[@Krazybonejabs]

Goodness. My soon to be wife just started making her big girl money around 300k/yr at 37 (finished residency). That would mean we have to save 3.6mil in 13 years to make it by 50, not including my pay which would be another 2 mil? OOF! You guys are wild.

[@MemeBros3]

these are aspirational goals no? to be wealthy at each age group is a lot, even with the 20s balancing out to get 1x income with student loans, bills and car loans when u are figuring things out can be a lot

[@jdp486]

Getting started early is the only way this works. With that high of income, hopefully you can save more than 25% per year to catch up.

[@jasonbourne6383]

To be honest - saving that amount (in all your assets) is very aspirational but if your incomes are that high, that seems right.

[@Ryhm14]

I think if you have very high incomes and comparatively low expenses then the multiple of income isn't as useful, as what you need to retire is 25-33x expenses.

[@buckwildz]

2025 edition? C'mon guys. :p

[@niqolustrades]

I'll never unstead paying cash for a 40k car at 6%. 40k in the market at 8% for 6 years is 63k less interest expense of 9k you are positive 13k on the 40k investment.

[@MrTrinidaddy]

I think yeah the math works out like that but for such a close percentage we can’t ignore human nature that people most likely aren’t just investing the money they just spend it

[@jdp486]

I would guess they think if you're buying a new $40k car, you better have enough in your portfolio that this kind of luxury is simply a drop in the bucket of your portfolio value; it's just not worth the stress of additional debt at that point.

[@jasonbourne6383]

If you buy a car with credit you are psychologically more likely to buy a more expensive one than if you pay in cash

[@kevinmott9046]

Leveraging debt is not for everyone. Takes a certain stomach. %8 each year is the risk there.

[@TheFirstRealChewy]

12x gross income by the end of my 40s? That seems like quite the stretch. Is that realistic. I know compound interest works but it must be working some magic in this decade.😅

[@ThatGuysGuitars]

It really isn’t. Imagine at age 30, you have a salary of $50k. You invest 20% of your gross every year. Your employer matches 3%. Now let’s assume your 401k will grow at 8% every year Let’s also assume, you get a raise of 3% every year. So every year, mores going into the 401k By the time you’re 50 (20 years invested) - you’ll now have a yearly salary of $90k, and $922k in retirement. (10x your current, elevated salary) A couple more years (5 more) and your investment account will be generating MORE money every year, at 8%, than your salary brings you Naturally, this is assuming a lot of things. Salary increases, market returns. But you can always invest more, and alot of companies do better than 3%.

[@jasonbourne6383]

It is kind of magic! I guess the question is whether the 8% occurs… in some decade long periods, the market has returned better than that… in other decades, it’s been way less than 8%. Obviously in the long run it should be around that amount… but no guarantee over a decade

[@wpelfeta]

If I need to buy a car and I have enough money in my emergency fund to buy it in cash, is that the right thing to do rather than do 20/3/8?

[@timmilowic871]

Cash is better but only if it doesn’t put you below the recommended 3-6 months of expenses for your emergency fund

[@MKK-wg7fz]

When they say 12x of your income by your late 40’s in “investable assets” are they strictly referring to non-use assets like stocks, bonds, cash etc or are they including everything such as home equity?

[@jasonbourne6383]

Including home equity

[@MKK-wg7fz]

@@jasonbourne6383 ok thanks! 😅

[@roxava17]

OP, you are correct, it does NOT include home equity

[@MKK-wg7fz]

@@roxava17 ok thanks

[@KimberlyO.Kitchens]

the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.

[@KarenJ.Mancia]

I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.

[@JamesKjones-n7r]

Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.

[@KarenJ.Mancia]

Her name is. Jessica Lee Horst’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@JamesKjones-n7r]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@michaelbahl8001]

23 times in your 50’s??? Run your numbers again. Yes, that is wealthy, but insanely impossible with up and downs in market. I like you guys, but you are wrong on this one.

[@detmostwant]

When you talk about 25% into savings in your thirties, are you talking retirement plus whatever you're putting into a savings account?

[@Atrus999]

I'm assuming they meant 25% saved for investing. What good will that money do if you park it in a savings account?

[@uzimakiuchiha]

Only about 6 months expenses should be in savings, everything else should be invested, until maybe 5 or 6 years out from retirement, start bringing that cash up to like 18 months expenses, otherwise you're wasting potentially MILLIONS

[@uzimakiuchiha]

And if the above is followed^ then yes it's included

[@detmostwant]

@@Atrus999 so I have a high yield savings account. Monthly it earns about 3.8% and yearly about 4.5%. I get that it's not invested so I'm definitely missing out on some gains but it's not just parked.

[@detmostwant]

@@uzimakiuchiha fair point. So once I have that 6 month emergency fund should I stop allocating money towards the savings account and push it all into investments? Should I stroke a check every year like I do with my Roth IRA or should I put money towards my investment accounts every month?

[@roburb73]

🤣🤣 $2500 a month on cars, 7% of our income. However, our mortgage is only 6% of our income. We were fortunate to build in '14 and refinance in '20 at 2.25%. Our mortgage is significantly less than an apartment. We invest 30% of our income as well. 🤣🤣🤣. $8.5M is 23x! I ain't got it. Haha

[@CitrusHook578]

we're so back

[@rayzerot]

You sound like a Helldiver after that last round of buffs haha

[@jon5852]

Managed democracy and portfolios

[@kevinparkerful]

I think you guys are thorough financial advisers but you guys keep saying the same thing over and over and over again in several videos I don't learn anything new from you guys anymore

[@Trenbatar]

This one feels pretty out of touch

[@saulgoodman2018]

BOILING POINT. Not BOWLING.

[@johnburnham3343]

Second IG 😢

[@GinaSasaki]

Bring Stephanie Janis Stiefel on the show. She changed my life Financially I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Stephanie Janis Stiefel, for her expertise and exposure to different areas of the market.

[@AnthonyAlves-dm5sd]

How can i reach her, if you don't mind me asking?

[@GinaSasaki]

Well her name is 'STEPHANIE JANIS STIEFEL'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@melektopcu2520]

The thing is people often doubt the prospects of financial advisors like Stephanie Janis Stiefel in business/markets today. Well it gives me more time to get ahead while they stew in their own pity and doubts as they childishly complain about those spreading the word

[@mandbgames]

how do bots like this exist

[@cameronsmith8986]

Chat GPT go away. Come again another day

[@jayholiday256]

23x gross salary? That’s insane, this is why guys can’t be taken seriously

[@wravager]

If you make $100k a year, that's only 2.3m. If you have like 30-40 years of compounding and saving you should be closer to 5-10m.

[@RushButter]

What do you mean? I mean I guess I see your point if you’re older, in your 40s or 50s already, but ultimately if one starts out young it’s easily achievable.

[@Zombiebeast1995]

That’s not that hard starting early

[@tombkk1322]

I agree, it’s too high for most people. It’s easier said than done for most people. I think the Money Guys should try yo be a little more relatable.

[@jayholiday256]

@@wravager I did great, even with the lost decade of 2000-2009. Only 3% of the population has a net worth of more than one million, I’m one of them

[@theregoesrenzo]

👍🏾

[@JoashD]

B'cos 🐔

[@TripSoul10]

20:45 chapter I keep in mind for immediate future

[@Bacciagalupe]

: )

[@andrewro8673]

First

[@kevinparkerful]

Same shit different day just for views im out

[@jaybeckerich]

It’s a tried and true plan.

[@jdp486]

Bye! 👋

[@austinbachhofer4981]

I just turned 25 and I am a few hundred dollars short from having 1x my taxable income invested. My only thing is that i invest in a taxable account mostly (robinhood & fidelity). I have about 1/4 of my taxable income in my TSP and VRS accounts. In Robinhood, i invest in single stocks (COST, V, MSFT, HD, XOM, and NVDA-holding since 2021). In Fidelity it is only VOO and MGK. What advice can you give me for something to shoot for?

[@austinbachhofer4981]

I forgot the ‘etc’ for my Robinhood Account

[@kevinmott9046]

Ever thought about doing a Roth conversion now while you're in a lower tax bracket? Taxes can eat up returns in retirement. Personally rolled all of my TSP traditional into a Roth IRA with Vanguard when I separated from active duty to give me better investment options and control. Congrats on the 1x saved, most people nowadays buy too much.

[@austinbachhofer4981]

@@kevinmott9046 I have actually, I don’t know too much about that process. The one thing that’s kept me from it is that i would like to retire before the eligibility date (59.5yrs?). I don’t want to have to pay a penalty. I have a plan that i am hoping to be able to stick to. Once i’m married with kids, i’m sure i’ll have to reevaluate things. Is it better to do the conversion even if i would like to use those funds sooner than retirement age?