I started investing a little over a year ago and have been surprised at how quickly that goes when I stick with a plan. That’s separate from retirement and other funds.
To those in here who have trouble saving, get some cash into an S&P fund and then you’ll have something 🙂
I got lucky. I’m a state employee and we have a pension so if you include that then I’ve got a small but okay nest egg.
But it’s locked me into staying with the state till I retire cause my pension payout drops to to a third of what I’d get if I retire with the state vs retiring at the regular age.
Please start saving everyone! It may seem impossible with whatever your current circumstances are. But 30-40 years of compound interest can do some amazing things to even the smallest investments.
I cashed out my 401k in my 30’s to go back to school. I always intended to put it back, but never did. Kicking myself today, knowing how much that would be worth now…
I got my Michigan Michigan 401k about 30 bucks of Labatts Blue cans. And regular 401k that is mid 6 digits but I’m not looking at it till you know who is gone.
Been working for the same company since 18, turning 40 this year. Been full time with benefits and 401k since then, so I have a very comfortable retirement building right now
Kind of off topic but have any of you guys experienced a bank refusing to accept a cash deposit before? I tried to deposit cash into my ex wife’s bank account the other day rather than driving across town to hand it to her. My ex’s bank wouldn’t take it. They wanted a check instead, which seemed odd to me. Why the heck would a bank not want more deposits? It was a healthy chunk of change too. I’m guessing that was the problem but that seems weird. It was a little over $4000. I don’t see why they would care if they can verify the source of the money . The teller never even looked up my ex’s account, asked my name or checked with my bank to verify where the money came from or who I was. The whole thing just felt weird.
If I dropped dead today, my inheritors would be splitting about $1 mill. Most of that is sitting in my retirement accounts, though, and another large chunk was a life insurance inheritance from about 5 years ago that I couldn’t mentally deal with at the time so I just dropped it into a couple index funds and put it out of my mind.
maybe 150k across a number of retirement accounts. house is maybe 350k in equity? (580k value). liquid about 30k. waifu is about the same but more, and she has a gov retirement.
37m. we also have accounts set for kids school (6yo, 3yo) maybe 40k
52m. I currently have 125k in liquid cash, 4 residential rental properties, 1 mini mall, and 3 retirement annuity accounts. Also, I’m set to inherit my parents wealth/estate worth approximately 6.5 to 7 million when they pass in the next couple of years. Murica…fuck yeah!
About 2x our household salary liquid. About 7x our household salary in retirement accounts.
It’s about consistency and discipline. For example, years ago, I started putting $250 in an account monthly as sort of a pre-car-payment. Ended up not using it to buy a car and kept it invested. Account now how over six figures in it.
For the first time since the pandemic I’ve got about 3 months of survival saved but it will soon be gone. Wife’s visa got mysteriously put on hold again so gotta fly out there and call my lawyer.
I’m not giving numbers here but I have a 9 month expenses efund (after paying off wife’s student loan balance). Maxing both of our Roths and 401k. Can really beef up brokerage after daycare ends in 5 years. Retire age 63-65 wife will be 58-60 but she might keep working.
I actually started saving really late but I saving everything to stop working ASAP
I have nada saved. My hours have been sliced and diced, and any savings I did have were pissed away because of that. I’m trying to find a second or better primary job, but it’s hard in this country to get a leg-up unless you’re a refugee or immigrant.
30k in the bank, 70k invested in one place and ~65k invested somewhere else.
I’m 29, and I’m well aware that most people my age are not so fortunate. 30% of it was saved on my own terms and the rest was inherited when my father passed away last year.
Key takeaways
For baby boomers, the average 401(k) balance is $249,300 with an average IRA balance of $257,002.
For Gen X, the average 401(k) balance is $192,300. The average IRA balance is $103,952.
Millennials have an average 401(k) balance of $67,300. The average IRA balance is $25,109.
Gen Z investors have an average 401(k) balance of $13,500 and an average IRA balance of $6,672.
I have no chance to save money. Based on statistics I make more than average salary, but I send 10% of it to support my younger brother, ~55% is rent, another 7-10% is different payments like internet, phone, subscriptions etc. I’m basically left with around 20-25% of my income to spend on food and other stuff. And this month I went to the dentist and to fix the issue I’m having I’ll have to pay 50% of my salary. This shit is depressint tbh
Graduated almost 3 years ago. Have about $40k saved up, but I also have some interest free student loans that I’m paying off slowly. Figured it was smarter to invest my money than pay it off.
If I moved back to my parents I would be saving about $60k-70k/y, but I want to get a girlfriend haha.
25f, been hurting lately tbh. Recent job loss, so my savings is down to $8k. I didn’t go straight back to work and opted for school full-time for an accelerated nursing degree, and I’m lucky enough that I got full ride. Commute to school is a bit of a haul especially in my Honda Pilot, so I’m dumping a grand into getting the motorcycle that’s clogging up my garage road-ready. Our vehicles are 15 years old and paid for in cash, but the bike is the only fuel efficient thing we’ve got.
My fiancé owns our home, and I own a rental property that covers the majority of our mortgages. We aren’t DINKs (three kids under 8). Right now we’ve shaved everything down razor-thin while I bleed money, but I’ll be starting part-time work soon to try and mitigate daily costs and make sure we have a better cushion for Christmas, emergencies, etc.
3 monthly paychecks and still spending cuz life is getting more expensive…
2 years ago it was closer to 7 monthly paychecks
Im not giving exact numbers, mainly cuz im not euro/dollar user so it will be dumb to convert those
31M, married and paid for the wedding myself ($70k 2 years ago, ate up a good portion – plus expensive honeymoon of course). About $150k not counting home equity (probably not much, bought recently and markets been steady if not down slightly in my area). About $30k of it’s liquid cash, $35k in BTC, rest in paid off car and retirement/brokerage account.
If we’re talking net worth, Im one of the owners of a startup and my shares are roughly worth about $500k as of right now, but that’s not based on a real appraisal so doesn’t really count.
I’m 31 with 30k in the bank. Zero debt, own my dream car and dream motorcycle. I live a relatively boring lifestyle so it definitely helped me save money in my 20s.
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Bold of you to assume I have money saved
Ha, good one.
Enough
You guys save money 😂
I’m trying to save my life
Good joke
I’ve got 3 nickels and my Aldis quarter in my cupholder, does that count as savings?
I’m on pace for a comfortable retirement
Aahh. So a new target to scam is sought
Nice try IRS
113k, that’s in investments and cash. I’m 28
I guess it does but doesn’t count. I just bought a new car cash so you can probably add 30k to that or so.
Started late, at 24. Now I’m 29, and banks are ok enough to let me buy a flat.
I had $45k, bought a house with 30k down, spent 6k decorating. I now have 8k left in my savings. 25 M
More than zero, less than $15k
Not nearly enough.
Some. Started late due to switching careers.
$5,155 and my DTI has gone from 35% to 26% now.
27m – live at home
No debt, cars paid cash
157k invested + 35k pension fund invested
Jar of coins.
250k across several accounts plus 3 properties
Enough for a down payment on a house but not enough to have enough money to redo windows after getting the house
Just got our of debt last month, currently 3k at an 80k income
Not counting the equity in my house, about $850,000. But I’m in my early 50’s.
I actually just spend some for stupid funny stuff for my bf 🙁
You guys have savings accounts?
I started investing a little over a year ago and have been surprised at how quickly that goes when I stick with a plan. That’s separate from retirement and other funds.
To those in here who have trouble saving, get some cash into an S&P fund and then you’ll have something 🙂
About 35K in my RSPs and mutual funds fuck all for short term savings
A few.
Well this thread really puts things into perspective and now im worrying slightly
0
0
25 years old
Got about 40k right now in the bank . Had about 200k but I put a ton of money down on a house and spent 20-30k on a few trips last year .
£0, however there will be savings when I start working next week. Want to save 8k by December
[deleted]
I have $16.30 in my Sportsbet account??
I got lucky. I’m a state employee and we have a pension so if you include that then I’ve got a small but okay nest egg.
But it’s locked me into staying with the state till I retire cause my pension payout drops to to a third of what I’d get if I retire with the state vs retiring at the regular age.
About -7500
Total assets are around $1M.
Currently in Chapter 13 with a baby on the way… whoops lol
Like…. 5k or so :/
As an American, I am on track to comfortably retire in a war-torn foreign country.
1500 in a 401k, and about 600 in the bank. I’m 23 and about to be homeless
I only have 800$ to my name rn 😭😭😭
My net worth is negative, and if I combine all funds I have, I have less than 5 USD… shits fucked
55/m/so cal. paid off condo, 30k cash, 800k retirement. why? never married, no kids.
250k in the bank. Still aint enough
Please start saving everyone! It may seem impossible with whatever your current circumstances are. But 30-40 years of compound interest can do some amazing things to even the smallest investments.
I cashed out my 401k in my 30’s to go back to school. I always intended to put it back, but never did. Kicking myself today, knowing how much that would be worth now…
Wait…. Ya’ll are saving?
I got my Michigan Michigan 401k about 30 bucks of Labatts Blue cans. And regular 401k that is mid 6 digits but I’m not looking at it till you know who is gone.
-10K
Last I checked I have $820k in assets.
$6
None, literally don’t make enough for that.
Been working for the same company since 18, turning 40 this year. Been full time with benefits and 401k since then, so I have a very comfortable retirement building right now
Lol
OP definitley isn’t a parent. At the same time, best investment a parent could ever make.
-$25k.
I could buy one hell of a 6 foot sub! 🤤
If I retired today? I could have one hell of a week!
😂 saving money? In this economy?
About a 1000 dollars, 28 yrs old
I was at 10k but got into a relationship so $4000 so far
48M around 300k split between 2 investment funds and around 140k retirement fund
-1000$
-16k not counting the morgage
About negative tree fiddy
I’m 40. $300k in investments/cash. A house worth $500k with $100k still owing.
Less than a billion.
$0.00
Nice try, IRS
50k € at 19
I’ve got a fair amount that I’m happy with
I’ve amassed a respectable amount of McDonald’s points, so … whatever 4 cheeseburgers is worth
Kind of off topic but have any of you guys experienced a bank refusing to accept a cash deposit before? I tried to deposit cash into my ex wife’s bank account the other day rather than driving across town to hand it to her. My ex’s bank wouldn’t take it. They wanted a check instead, which seemed odd to me. Why the heck would a bank not want more deposits? It was a healthy chunk of change too. I’m guessing that was the problem but that seems weird. It was a little over $4000. I don’t see why they would care if they can verify the source of the money . The teller never even looked up my ex’s account, asked my name or checked with my bank to verify where the money came from or who I was. The whole thing just felt weird.
Let me check down the back of my sofa…. I mean my ‘vault’
Enough for a few months worth of bills, the rest is in investments
33y/o – I’m around $230K as of today between savings & retirements. Virtually no debt.
Can’t have any saved as I am on disability, but usually just before the beginning of next pay day I usually keep $100 or so as a cushion.
45k between my TFSA, FHSA, GIC, and chequing with most of it in the FHSA
Less that OP
About 8.6 mill
If I dropped dead today, my inheritors would be splitting about $1 mill. Most of that is sitting in my retirement accounts, though, and another large chunk was a life insurance inheritance from about 5 years ago that I couldn’t mentally deal with at the time so I just dropped it into a couple index funds and put it out of my mind.
I don’t believe that wealth should be hoarded, so I put my money where my mouth is and I don’t save either. It’s a moral thing.
About $100K in cash. Maybe $50K in investment accounts. Need to stay liquid for potential home purchase.
0
-$74.00. Not a joke.
short term: 2 and a half months living expenses. Retirement? Yeah, keep working.
Saved…none. Invested…all.
800 bucks lol
I dont really like talking about money
I literally have only a huge jar of pickles but they’re really good pickles. 🥒
Between my Roth, my 401k, some other investments, and my savings account, right around $100k. 31 years old
maybe 150k across a number of retirement accounts. house is maybe 350k in equity? (580k value). liquid about 30k. waifu is about the same but more, and she has a gov retirement.
37m. we also have accounts set for kids school (6yo, 3yo) maybe 40k
I don’t save money. I invest in crypto.
52m. I currently have 125k in liquid cash, 4 residential rental properties, 1 mini mall, and 3 retirement annuity accounts. Also, I’m set to inherit my parents wealth/estate worth approximately 6.5 to 7 million when they pass in the next couple of years. Murica…fuck yeah!
Nice try IRS…. Nice try!
Do I count the value of my house? Are you asking retirement accounts or just something classified as “savings”
Saved‽
Exactly $500.
Is property equity savings?
I got lucky so I’m ahead of schedule.
About 2x our household salary liquid. About 7x our household salary in retirement accounts.
It’s about consistency and discipline. For example, years ago, I started putting $250 in an account monthly as sort of a pre-car-payment. Ended up not using it to buy a car and kept it invested. Account now how over six figures in it.
Not enough.
For the first time since the pandemic I’ve got about 3 months of survival saved but it will soon be gone. Wife’s visa got mysteriously put on hold again so gotta fly out there and call my lawyer.
I’m 65 (my wife, as well). I retired at 65. She worked for the state and retired a few years ago with a full pension.
Our net worth is what some would consider wealthy. We’ll see how that goes if He Who Must Not Be Named crashes the global economy.
36, 500k saving for a house
Enough
Total monies almost 2 million.
401k – 1 million
Stocks – almost 500k
Savings account almost 400k
My swear jar is overflowing
Wow, best way to search for a husband. Thanks for asking the question OP, so I didn’t have to. /s
None. I’m worried about making rent
36k in cash.
660k in investments.
I’m not giving numbers here but I have a 9 month expenses efund (after paying off wife’s student loan balance). Maxing both of our Roths and 401k. Can really beef up brokerage after daycare ends in 5 years. Retire age 63-65 wife will be 58-60 but she might keep working.
I actually started saving really late but I saving everything to stop working ASAP
I have nada saved. My hours have been sliced and diced, and any savings I did have were pissed away because of that. I’m trying to find a second or better primary job, but it’s hard in this country to get a leg-up unless you’re a refugee or immigrant.
150k as a 26 year old
None. Job, as a state employee, doesn’t pay a lot , many life bills, plus gotta have fun. 67, male
30k in the bank, 70k invested in one place and ~65k invested somewhere else.
I’m 29, and I’m well aware that most people my age are not so fortunate. 30% of it was saved on my own terms and the rest was inherited when my father passed away last year.
$60 in my cashapp lol
$85,800 rough estimate.
$50. Actually about to move it back to my checking account for food… >_<
Depends how you count it. About a million
In inflation dollars?
Key takeaways
For baby boomers, the average 401(k) balance is $249,300 with an average IRA balance of $257,002.
For Gen X, the average 401(k) balance is $192,300. The average IRA balance is $103,952.
Millennials have an average 401(k) balance of $67,300. The average IRA balance is $25,109.
Gen Z investors have an average 401(k) balance of $13,500 and an average IRA balance of $6,672.
https://www.fidelity.com/learning-center/personal-finance/average-retirement-savings
I have no chance to save money. Based on statistics I make more than average salary, but I send 10% of it to support my younger brother, ~55% is rent, another 7-10% is different payments like internet, phone, subscriptions etc. I’m basically left with around 20-25% of my income to spend on food and other stuff. And this month I went to the dentist and to fix the issue I’m having I’ll have to pay 50% of my salary. This shit is depressint tbh
My retirement plan is to rent a vehicle with the last of my money and slam it into a brick wall going 100 miles an hour.
Retrirement savings is six figures, but still lower than I’d like.
Personal savings is near zero because I used it to quit a toxic job last year.
Hahahahahaha
I have a lot of money saved. More than I have seen anyone post here. But not enough to pay my bills for a couple years.
Money… saved?
~42k but about to throw most of it towards a down payment on a house.
Invested everything, saved hardly anything.
About 7k in gold. Probably more. Property and gold is where I have the most saved for a rainy day.
Graduated almost 3 years ago. Have about $40k saved up, but I also have some interest free student loans that I’m paying off slowly. Figured it was smarter to invest my money than pay it off.
If I moved back to my parents I would be saving about $60k-70k/y, but I want to get a girlfriend haha.
I think there’s like $300 in there.
Tree-fiddy.
Wait, nvm, it’s gone.
About 10% of my debts…
That sucks to see typed out
Late 60’s and $2.5m or so. But to everyone in their 20s who think they’re behind, I had about $3k saved at 30.
16k, lol
25f, been hurting lately tbh. Recent job loss, so my savings is down to $8k. I didn’t go straight back to work and opted for school full-time for an accelerated nursing degree, and I’m lucky enough that I got full ride. Commute to school is a bit of a haul especially in my Honda Pilot, so I’m dumping a grand into getting the motorcycle that’s clogging up my garage road-ready. Our vehicles are 15 years old and paid for in cash, but the bike is the only fuel efficient thing we’ve got.
My fiancé owns our home, and I own a rental property that covers the majority of our mortgages. We aren’t DINKs (three kids under 8). Right now we’ve shaved everything down razor-thin while I bleed money, but I’ll be starting part-time work soon to try and mitigate daily costs and make sure we have a better cushion for Christmas, emergencies, etc.
3 monthly paychecks and still spending cuz life is getting more expensive…
2 years ago it was closer to 7 monthly paychecks
Im not giving exact numbers, mainly cuz im not euro/dollar user so it will be dumb to convert those
More than I had last year
Hoping to retire in a couple of years at 59.5, but the world is so unpredictable right now.
Flat broke and in debt!
31M, married and paid for the wedding myself ($70k 2 years ago, ate up a good portion – plus expensive honeymoon of course). About $150k not counting home equity (probably not much, bought recently and markets been steady if not down slightly in my area). About $30k of it’s liquid cash, $35k in BTC, rest in paid off car and retirement/brokerage account.
If we’re talking net worth, Im one of the owners of a startup and my shares are roughly worth about $500k as of right now, but that’s not based on a real appraisal so doesn’t really count.
I’m 31 with 30k in the bank. Zero debt, own my dream car and dream motorcycle. I live a relatively boring lifestyle so it definitely helped me save money in my 20s.