This is the median net worth by age. Are you ahead or behind?

[MoveForward]

NET… Most people have a negative net worth but this is The Coli.

 

[RageKage]

That is the median, not where a financial advisor recommend you be at by a certain age

https://www.citizensbank.com/learning/how-much-money-do-you-need-to-retire.aspx#:~:text=The%20Final%20Multiple%3A%2010%2D12,million%20set%20aside%20for%20retirement.

• The Final Multiple: 10-12 times your annual income at retirement age. If you plan to retire at 67, for instance, and your income is $150,000 per year, then you should have between $1.5 and $1.8 million set aside for retirement. A multiple of your final working year's income is appealing to use as a guidepost because it's easy to calculate, especially the closer you are to retirement when your final annual compensation is easy to estimate.

God forbid you or spouse get sick

 

[Mike Nasty]

This is net worth, not income.
This is going to look crazy 10years from now when no has anything to pass down.

 

[Sad Bunny]

NET… Most people have a negative net worth but this is The Coli.

Mine and most is probably technically negative due to mortgage debt, right?

 

[chineebai]

now I see why people retire in cheaper countries. One medical emergency here and you’re fukked.

Honestly saving for retirement scares the fukk outta me cuz of the uncertainty. I have a cpa and a financial planner so I feel like I’m in a good spot currently but who knows what the future will bring.

 

[Armchair Militant]

I’m a Coli breh. You already know

 

[MoveForward]

Mine and most is probably technically negative due to mortgage debt, right?

That and student loans…

 

[Sad Bunny]

now I see why people retire in cheaper countries. One medical emergency here and you’re fukked.

Honestly saving for retirement scares the fukk outta me cuz of the uncertainty. I have a cpa and a financial planner so I feel like I’m in a good spot currently but who knows what the future will bring.

Yep. My father grandmother, my aunts my in-laws all pretty much struggled, or I can only afford the bare minimum in retirement.

 

[HabitualChiller]

Damn, ya'll nikkas broke as shyt

Getcha money up, poverty-stricken ass nikkas

 

[Tribal Outkast]

That’s a vacation if we being honest

That’s that 1988 money we still spending lol

 

[MarcMan]

Unfortunately, a lot of people are heading for a very uncomfortable retirement.

Mine and most is probably technically negative due to mortgage debt, right?

Nah, cause you have to add the market value of your home to that. Even though home prices have sagged a bit recently, most people aren't upside down

 

[RadaMillz]

about the same

 

[Treblemaka]

What's the source for this random Stat that was tweeted by unvetted entity?

 

[Sad Bunny]

Unfortunately, a lot of people are heading for a very uncomfortable retirement.


Nah, cause you have to add the market value of your home to that. Even though home prices have sagged a bit recently, most people aren't upside down

I know but don’t you subtract the amount you owe from your net worth?

My equity is at least 100-125K but I still owe 380-ish.

 

[MarcMan]

I know but don’t you subtract the amount you owe from your net worth?

My equity is at least 100-125K but I still owe 380-ish.

Say you have a house worth 200k. If your outstanding mortgage is 150k, that puts you at positive 50k there.

House prices may have slumped slightly due to rising interest rates, but not by much.

Most homeowners are storing wealth in their home