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Forum » Am I broke for 28
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Thread: Am I broke for 28

post 1697109793 01-28-2024, 08:51 PM
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Am I broke for 28

$11,500 in savings
$17,500 in 401k
$30,000 in home equity

Getting pissed and unmotivated at work with my financial situation
post 1697109873 01-28-2024, 08:53 PM
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Post deleted by user
FLAT: 225x15 INCLINE DB 100x15 incline bench 225x8 deadlift: [RETIRED!! OUTTA HERE] FS: 225X14
post 1697109953 01-28-2024, 08:56 PM
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Originally Posted By ectobruh⏩
Boo fukkin hoo
Yes
post 1697110063 01-28-2024, 08:58 PM
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Originally Posted By PShift5⏩
$11,500 in savings
$17,500 in 401k
$30,000 in home equity

Getting pissed and unmotivated at work with my financial situation
Doesn't sound like it brah. Is that equity mostly your downpayment?

Most 28 year olds now adays don't have a house so that's a start.

Keep the 11k as an emerg. fund and start investing the rest in a self-directed savings account.
post 1697110213 01-28-2024, 09:01 PM
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Originally Posted By j1rr⏩
Doesn't sound like it brah. Is that equity mostly your downpayment?

Most 28 year olds now adays don't have a house so that's a start.

Keep the 11k as an emerg. fund and start investing the rest in a self-directed savings account.
Yea mostly down payment +$7000 above purchase price
post 1697110683 01-28-2024, 09:16 PM
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I hope you are in a flyover state with those stats brah, you should see this as motivation to improve your financial situation. What do you mean unmotivated? Plan to rot your entire life?

You should aim to double these numbers if not triple by 30. Thankfully you have some home equity, you might wind up accidentally wealthy this way.
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Man cannot remake himself without suffering, for he is both the marble and the sculptor.
post 1697110793 01-28-2024, 09:20 PM
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Originally Posted By poland144⏩
I hope you are in a flyover state with those stats brah, you should see this as motivation to improve your financial situation. What do you mean unmotivated? Plan to rot your entire life?

You should aim to double these numbers if not triple by 30. Thankfully you have some home equity, you might wind up accidentally wealthy this way.
I'm in New England brah I just graduated college in 2022 because I ****ed up bad in high school and took 6.5 years to graduate college. If I didn't fuk up and stated right after college what should these numbers be ?? Idk how I can even catch up because my mortgage is $3400 a month and I barely save anything
post 1697111013 01-28-2024, 09:29 PM
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The median net worth for 25-29 is $30k. The median net worth for 30-34 is $90k.

Yours, at 28, is $59k, so you're doing better than most IMO. But you're fairly close to what's expected of someone at 28.

I'm also 28, but with near $200k net worth. Though I know someone who is 27 with over $500k net worth. I also know people in their thirties with less than $50k net worth.

There's always people worse off, and better off. Where you live impacts this a lot too.
post 1697111143 01-28-2024, 09:32 PM
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Doesn’t matter we’re all headed for the same destination (srs)
post 1697111553 01-28-2024, 09:44 PM
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I’m 27 with

$1,200 in savings
$10,000 in 401(k)
Rentcel

So from my perspective, no. You’re doing pretty good.
post 1697111943 01-28-2024, 09:57 PM
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Originally Posted By Visel⏩
The median net worth for 25-29 is $30k. The median net worth for 30-34 is $90k.

Yours, at 28, is $59k, so you're doing better than most IMO. But you're fairly close to what's expected of someone at 28.

I'm also 28, but with near $200k net worth. Though I know someone who is 27 with over $500k net worth. I also know people in their thirties with less than $50k net worth.

There's always people worse off, and better off. Where you live impacts this a lot too.
How did the 27 yo make 500k?
post 1697112063 01-28-2024, 10:03 PM
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Originally Posted By PShift5⏩
How did the 27 yo make 500k?
TBH he put 5% down on a house in 2018, his equity grew, then he flipped it for major profits in 2022. On top of normal investing.
post 1697112213 01-28-2024, 10:11 PM
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Originally Posted By PShift5⏩
How did the 27 yo make 500k?
i know a guy in his early 20s who has made millions doing illegal sht

strong everything for him
post 1697112523 01-28-2024, 10:26 PM
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my 8 year old has more net worth than you do so... yes
"I'm not like most girls." -most girls
post 1697112613 01-28-2024, 10:29 PM
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I had much less at 28 and have much more at almost 39

No reason you can’t have much much more a decade from now
post 1697113083 01-28-2024, 10:47 PM
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Originally Posted By Visel⏩
The median net worth for 25-29 is $30k. The median net worth for 30-34 is $90k.

Yours, at 28, is $59k, so you're doing better than most IMO. But you're fairly close to what's expected of someone at 28.

I'm also 28, but with near $200k net worth. Though I know someone who is 27 with over $500k net worth. I also know people in their thirties with less than $50k net worth.

There's always people worse off, and better off. Where you live impacts this a lot too.
lol most people are a missed paycheck or two from broke
post 1697113733 01-28-2024, 11:26 PM
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Originally Posted By PShift5⏩
I'm in New England brah I just graduated college in 2022 because I ****ed up bad in high school and took 6.5 years to graduate college. If I didn't fuk up and stated right after college what should these numbers be ?? Idk how I can even catch up because my mortgage is $3400 a month and I barely save anything
Most importantly focus on increasing income. Secondly run yourself through a budget. Chances are you are doing a bunch of unnecessary expenses like eating out too much. If you want to increase net worth these are your two methods. Set a goal to invest

Interest rates are likely to come down in the next 2 years, and your mortgage (minus interest) is part of your net worth. That's what I refer to when I say you might get accidentally wealthy. Plenty of boomers are in a great financial state from their originally cheap RE appreciating and then selling it when they're ready to retire/downsize. No reason not to expect that to be the case for our generation.
6'7" 240lb
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Man cannot remake himself without suffering, for he is both the marble and the sculptor.
post 1697113833 01-28-2024, 11:36 PM
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We are going to CBDC...you can have a million in the bank, it won't matter, in less than 3 yrs it's over. People have no idea what's coming.
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