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Forum » Age: 27 - Net Worth 54k, am I gonna make it?
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Thread: Age: 27 - Net Worth 54k, am I gonna make it?

post 1653707063 01-04-2022, 10:25 AM
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  1. CherryPopinski
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Age: 27 - Net Worth 54k, am I gonna make it?

That’s between all my financial accounts, my car is currently paid off. If you include that as an asset then that’s an additional 19K

Is this good for someone my age?

Inb4 e-fraud Misc CEOs
No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.

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post 1653707613 01-04-2022, 10:30 AM
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Originally Posted By QuickShotSteve⏩
aren't you a cop? You guys have amazing pension plans correct? You're gonna be alright. And if you do like most government employees, finish 20 years at one job, then another 20 at the USPS or some other government job, and collect 2 pensions and live the good life.
Unfortunately my generation had their contracts revised, so I can’t buy time and retire early. I have to work a full 30 years. But I’ll be 53 if I stay in my current state and am lucky enough to make it to retirement.

I think I contribute about 10% of my checks to my 401K
No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.

-Socrates
post 1653708203 01-04-2022, 10:38 AM
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Pretty good . And Nevada is a low cost state right
post 1653708353 01-04-2022, 10:40 AM
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You're gonna make it OP.

I'm right behind you at age 26 with like $50k in roth retirement accounts, and not much else lol. Paid off car too, which is also like ~$19-20k like you. A shame though cuz 2 months ago I had another ~$45k in non-retirement investment, but gambled it all away with options (STUPID), so now I got lots of capital losses to report for the next 10 years at least lol, IRS can suck it.

Just try to get enough for a house down payment by 30, is my idea. Then sometime in your 30s when you wanna settle, get a mortgage and quit renting. Doing that, while investing (not gambling options like I did), and not spending beyond your means, will probably get you to retirement status in your 40's.

EDIT: Also try to outpace inflation. I think this is becoming more important now than ever before. When inflation was between 1.5%-3.5% it was acceptable to not really think about it too much. But now we're seeing as high as 6% recently, we've gotta not allow ourselves to fall behind income wise.
post 1653708583 01-04-2022, 10:44 AM
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  1. CherryPopinski
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Originally Posted By PenguinWarrior⏩
Pretty good . And Nevada is a low cost state right
Housing prices are skyrocketing right now cause people are moving here from out of state, but otherwise we have no state income tax.
No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.

-Socrates
post 1653714473 01-04-2022, 12:22 PM
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  1. CherryPopinski
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Bump for other miscers net worth
No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.

-Socrates
post 1653715093 01-04-2022, 12:30 PM
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  1. Jayl12345
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I'd say only roughly 175K investments but 1 year away from 50% pay and bennies for life and a guaranteed fed job after separation so I'm not sweating.
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post 1653715123 01-04-2022, 12:30 PM
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You're doing better than most people I know your age boyo. Keep it up and you'll be rich
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post 1653716003 01-04-2022, 12:41 PM
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  1. Jacobcapra
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Not too bad OP, I believe a standard goal is to have your current salary in retirement by 30, which I assume is most of your net worth.

At 28 I'm at:

home equity - $110K
Retirements - $180K
savings/brokerage - $25K
student loans - ($26K)

Both my wife's car and mine are paid off, so that'd be about another $25K if I were to count that.

Sitting at 289K, but a majority of that is in retirement accounts, and about $85K of that is in my wife's 403B.
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post 1653716353 01-04-2022, 12:45 PM
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I’m a year younger and at about 105k but if you take out student debt it’s about 85k. So not much different than you with the car. I’m doing better than at least 90% of my high school class.
post 1653716883 01-04-2022, 12:51 PM
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Originally Posted By basedcap⏩
I’m a year younger and at about 105k but if you take out student debt it’s about 85k. So not much different than you with the car. I’m doing better than at least 90% of my high school class.
basedcap is based
No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.

-Socrates
post 1653718413 01-04-2022, 01:15 PM
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Originally Posted By CherryPopinski⏩
Housing prices are skyrocketing right now cause people are moving here from out of state, but otherwise we have no state income tax.
Not to be a downer but would that net worth figure even account for 1 year’s inflation in house prices?
post 1653720163 01-04-2022, 01:41 PM
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Originally Posted By CherryPopinski⏩
That’s between all my financial accounts, my car is currently paid off. If you include that as an asset then that’s an additional 19K

Is this good for someone my age?

Inb4 e-fraud Misc CEOs
Mirin when being a cop doesn’t require any degree or outside training that gets people in debt; but still pays well

Srs


Now if only you would stop taking drug addicts and single pregnant moms out on dates you would save a lot more
post 1653720523 01-04-2022, 01:48 PM
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  1. Contribution05
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Originally Posted By CherryPopinski⏩
Bump for other miscers net worth
I'm 34 and only worth $250k.
No debt as im a rentcel and own everything else i have. So it's just 250 in investments.

Most of that was saved away from ages of 28-today as before then i was living more paycheck to paycheck and not investing anything. But when i finally got a new job and made a bit more money things finally changed and you really start to notice how it's much easier to make money when you have money (assuming you're not one of those idiots who makes good money and still decides to blow it all every check)
post 1653722773 01-04-2022, 02:19 PM
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Sounds amazing to me. My net work is like $5k just slightly younger than you.
post 1653724003 01-04-2022, 02:31 PM
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Sounds pretty good for 27, the next 40 years or so will be the real determinant
post 1653724163 01-04-2022, 02:33 PM
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  1. CherryPopinski
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Originally Posted By r32gojirra⏩
Not to be a downer but would that net worth figure even account for 1 year’s inflation in house prices?
It sucks cause despite making good money, I can’t even afford to live comfortably on my own due to inflation

KrackerJacked makes fun of me, but I sold my house last year and used the proceeds to eliminate my debt

Currently I live rent free with my family so I’m actually saving money regularly right now and they don’t charge me bills either.

I do buy take out for my family pretty regularly since we don’t cook as much since everyone’s always working so I do still need to be somewhat mindful of my spending
No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.

-Socrates
post 1653725313 01-04-2022, 02:49 PM
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ya most people have jack **** saved up. gonna make it
Lol, lmfao
post 1653725683 01-04-2022, 02:52 PM
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I think you’re doing fine … repped. At your age, I was probably -$50k net worth. I’ve turned it around, and now live comfortably with no cc debt.
post 1653725863 01-04-2022, 02:54 PM
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GJ. You will do fine. Keep increasing your saving/investing and AVOID debt. Live like warren buffet, not a chitty trap rapper and you will be rich. Try to acquire a house soon so you can lock in some real estate at a low rate. You're better off than most boomers in their 50's real talk.
This fool's running a Honda 2000
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post 1653726313 01-04-2022, 03:01 PM
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  1. CherryPopinski
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Originally Posted By Jms89⏩
GJ. You will do fine. Keep increasing your saving/investing and AVOID debt. Live like warren buffet, not a chitty trap rapper and you will be rich. Try to acquire a house soon so you can lock in some real estate at a low rate. You're better off than most boomers in their 50's real talk.
The only hurdle in my near future is Nissan releasing this new Z car lmao
No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.

-Socrates
post 1653727023 01-04-2022, 03:09 PM
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#22
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At 31 I was in debt $5-10k. At 35, I'm worth north of $500k.
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post 1653727503 01-04-2022, 03:16 PM
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its a good start. my net worth was around 60k when i was around your age, now at 30 its 500k+ USD
post 1653727753 01-04-2022, 03:21 PM
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yeah
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post 1653728413 01-04-2022, 03:32 PM
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good job op, solid net worth at your age. what is your plan? keep grinding at your job or do something better?
GAINS, GAINS, More GAINS
post 1653729163 01-04-2022, 03:45 PM
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  1. CherryPopinski
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Originally Posted By ontclone⏩
good job op, solid net worth at your age. what is your plan? keep grinding at your job or do something better?
I have issues working summers on patrol, I’m very prone to heat exhaustion. So I was trying to lateral out of state but it didn’t pan out. Not sure what I’m gonna do once it gets hot again. Just trying to figure out how I can keep working
No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.

-Socrates
post 1653729253 01-04-2022, 03:47 PM
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  1. Gizzyhardcore
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if you don't have property then that's reasonable.

If you buy a property in most cases over the long term it will go up in value which builds wealth, and then you're forced to pay a mortgage which also builds wealth. leverage (borrowing) plays a huge part in this, you might only have $50k in a $300k property, but if that goes up 10% in a year, your wealth has increased $30k, which is a 60% increase on the $50k you put in.

But other than that all the basic stuff you're probably aware of - spend less than you earn, save and invest the difference, put most of it in "safe" stuff - ie US 500 index fund or something, leave some to yolo into the next tesla or NFT's or whatever for fun.

source: misc CEO
post 1653729263 01-04-2022, 03:47 PM
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Originally Posted By MyFrauddBrah⏩
At 31 I was in debt $5-10k. At 35, I'm worth north of $500k.
More frauding from the below-minimum-wage rideshare contractor

Did you think we’d just forget?

https://forum.obnoxiousbrutes.com/showt...533991&page=1&
post 1653729673 01-04-2022, 03:54 PM
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Originally Posted By r32gojirra⏩
More frauding from the below-minimum-wage rideshare contractor

Did you think we’d just forget?
You're in Australia, you aren't part of any "we". You'll leave your house only if you're told you're able to, cuck. Be a good little boy and keep the front door sealed tight for me, k?
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post 1653729703 01-04-2022, 03:55 PM
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Rough start but there is still plenty of time.

If inflation keeps up nobody in the US is gonna make it. BRB, $200 for a dozen eggs.
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