Kevin O'Leary: How Much Money You Should Save By 33
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- čas přidán 26. 08. 2019
- Kevin O'Leary explains just how much money you should have by the time you are 33 years old and why it's important. “By the time you hit 33 years old, you should have $100,000 saved somewhere. Make that your goal. Thirty-three [and] $100,000,” O’Leary tells CNBC Make It.
According to Kevin O'Leary, 33 is the point where you could fall behind if you haven't started saving. While $100,000 might sound "impossible" to many Americas, O'Leary believes it's possible to save this much if you start saving early enough.
For example, if you’re 22 and making a median salary of $48,400 (for new graduates), and you start saving 20% per paycheck, that amounts to $9,680 a year. Even if you keep the same salary and assume no interest, saving that amount for 11 years gets you $106,480 by the age of 33. By investing the same money, and assuming O’Leary’s 5% growth, that gives you $144,397 in the same amount of time. (The S&P 500 Index has averaged annual returns of approximately 10% since its inception in 1926.)
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Kevin O'Leary: Here's How Much Money You Should Save By 33 - Zábava
I'm 31 and have about 51k saved. I don't make that much money but I'm trying my best to save as much as I can.
msj56 same here man
msj56 YOU CANNN DUUHH ITT
You’re doing great buddy
Your doing very well msj56 ❤ keep going 🤗🤗
GOOD 🤞.
i’m 33 years old it’s already too late for me, so for that reason, i’m out.
Mr. Wonderful said he’d give you 35, an additional 24 months, if you can’t do it at 33.
Lol😂😂
Lol
lmao
Lol 😆
Me at 34, at about 10k saved and I feel blessed. Managed to stay employed through all of COVID so far.
That is a blessing!
I dare you to YOLO the 10k into Dogecoin
@@MF_JONES I'm definitely going to sink about 5% into crypto for now... lol
I just realized i’m 23 and have 80k saved
@@mickyosully4592 whhaaatt thats great dude 🔥🔥🔥🔥!!!!!!!!!
25. ~88k saved and invested. But a few years ago I was homeless sleeping on park slides and benches. Crashing on couches. Enough was enough. Busted my ass saved every dime. Bought used clothes. Lived out of a backpack and a garbage bag. Didn't go out. It was hard. But not as hard as being homeless. I knew how to live cheap because I'd been broke for so long but once o started making money I never let my mind think I had money.
Quit trying to impress people with clothes, big bar tabs, nice cars. It's all a joke.
I was just commenting on how to make and save the most money. Keep your expenses low and your income as high as you can. Good for you. I tip my hat to you. You’re going to be that father who tells their kids how spoiled they are to have the basic things in life, because you never had them! That’s a good thing. God bless you my friend and stay healthy!
How much you make now?
@@adultadventures1597 varies. Last year 150k. This year will be far less. Expenses are near 0. No mortgage. $300 in bills.
what's your job?
@@Views-pq2ns water restoration/mold remediation. It's highly profitable. Moved onto progressional gambling.
I began my investment journey at the age of 27, primarily through hard work and dedication. I'm to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier it is not about achieving quick wealth, but rather ensuring long-term financial prosperity
Investors should exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields
This is superb information,as a noob it gets quite to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio,I have witnessed a remarkable growth of $500k in just past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser known markets it is safe to say that this bold decision has been one of the most impactful choices i have made recently
Wow that's stirring! Do you mind connecting me to your advisor please. I desperately need one to diversify my portfolio
What differentiates the poor from the rich is what both do with the information they get. While the poor doubt almost all the information they find, the rich gets richer by doing things that the poor did not do when they get information. For financial success and investing, always work with a financial advisor who is ready to help you succeed
That is the story of my life Mr. Wonderful,
I am 33 and I have saved in 5 years around 100k. By working hard, saving and investing as much as i could.
I still remember when I was 28 and I came to NYC alone and with $550 in my pockets. ..thank you 🇺🇸
god bless america
Yes 🙌🏽. Came here with 7k in my account, been broke, living with family, no car, walking from work. Now I’m saving emergency fund, have a car and working on saving first 100k. God Bless America indeed
17 and 2k saved on my own, need more 98k in 16 years....
You forgot about inflation... you'll probably need $130k in 16 years time.
@@jzk2020 but then he started so early, he can achieve 100k by 25 :)
You’re doing fine. Forget about the number or the amount. Trust me. I came from nothing and own multiple properties paid off in cash. I maids 80% of the money I have in 5 years from my business. I always said I wanted to be a millionaire by 30. Didn’t happen. Keep saving and keep your living expenses as low as possible. Run your life like a business. Spend the least amount possible, take in the most amount possible and you’ll be fine.
Easy, just don’t get into a lot of debt.
C. Lincoln true
30 years old and about $250k in debt. No savings oh boy I am in trouble
Keep grinding brother
Dont give up stay focuses. You got this!
Start living like a homeless person. Share rent with a roommate. Only money you should spend is on food. Everything else should go to paying down debt.
Do this for 10 years, and you'll be in a great position.
@Andy Z It all depends on your personal situation. If you are owing 250k, you are owing 250k.
Is 250K mortgage and student loans or something else? It's manageable if you have a decent income. You got this.
33 in a few weeks and have around $350k.
Tossed more money at my student loans than I did my rent for the first 2 years. After those were paid off, took the money that was going to student loans to max out 401k. And every raise I ever got went directly into my retirement fund. Forced myself to be able to live on the same take home pay I had when I first started working.
I plan to do the same! Good job!
Respect. I'm 28 and at 290k. Doing the same thing essentially. No debt and paying off my house in 2 days.
@@jakewaterman6608 how much was your house when you bought it. I'm 33 and can't afford property in my city. Minimum price for a condo is about 600k. A townhouse goes for about 900k and a detached is over 1m.
Wow
@@jakewaterman6608 Respect. I'm 29 at 325k, no debt whatsoever, with a job in which I can retire at 48 with a full pension and medical. And then there's a guy that makes more than me. And then there's a guy that's makes more than that guy. And then there's a younger guy that makes more than any of those guys. It's all relative. Respect.
FINALLY started this year at 33 y/o. Now $20k in. $80k to go
It really made no sense to me when he said ''It doesn't matter whether I'm right or wrong, whether the market goes up and down. I'm good regardless''. People are really losing a sh*t ton of money out here. I personally have been buying stocks since the beginning of the year and yet nothing's changed, but I've been reading articles of people still in the same market pulling off over 350k in just a couple months. Its tough out here!
Sometimes, the strategies to stay on constant green in a downturn markets are quite rigorous for the regular-Joe. Matter of fact, they are most successfully carried out by experts who have had a great deal of skillset/knowledge of the market. Maybe you should hire one.
@@Harperrr.99 Agreed! I first contacted a Financial Analyst because these days, it's easy to buy into trending stocks, but the task is knowing when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. I’m currently 60% up in profits just in 5months with my initial capital of $160k
@@rickertcoles Please can you leave the info on how to reach your investment advisor here? I’m in dire need for one.
@@flemmingbrooke Sure. NICOLE DESIREE SIMON, a well-known person in her field, is my advisor. I got to know her through my wife. It's my wife that has her number, but you could further investigate her credentials and contact her yourself.
@@rickertcoles Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
450k at 33 and it’s been a real challenge
Great work
Wow great job! 👏💰What do you do for a living?
Very impressive
Fruit2Live Management consulting :)
The 20s were brutal for me too so I hear you. I spent most of the working 2-3 jobs. Congrats! Almost half a milly 👏👏👏
70k at age 29. Right on track :)
doomtomb3 what drug deals do you do to have THAT muh
Keep slaving away!
@@monsterkis do not diminish his efforts! I hit 6 figure savings by 28. That was two years ago. And that was with being unemployed for a year and a half, paying for my own undergrad and post grad! AND traveled a fair bit!.
1. Completely cheaped out on material things like cars, electronics and brand name clothing etc.
2. Pay off all debts as soon as possible.
3.Try and live rent free (with parents or otherwise) for as long as possible.
4. Save FAR MORE than you spend.
5. Invest in some index funds and you're set.
No debts, no borrowed money, no student loan debt. All paid off starting with the first job I got.
Here's a good starting point. Pick up Andrew Hallam's - Millionaire Teacher. And off you go.
Yasss
💪💪
i’m 18 and i have 1K saved up so far.
Same I'm 18 and I have about 1K saved, hopefully I will be working during the summer, after my first year at uni.
Way ahead of most people
Good for you! Most people are in debt when they're 18
Congrats man, keep at it
33 next week and I’ve got $23000! Also $245000 in student loans. I’m a lawyer and didn’t start working until I was 28!! 😭😭😭
But lawyers do make six figures so it shouldn't too difficult to reach the goal
Haha! Story of my life. I am in this exact boat!🤦🏾♀️
daprince001x Unfortunately, it depends on the speciality and region of the country
daprince001x finally make over six figures as of January am in savings mode!!!! 💴
@@andromedamars4239 you go girl!
Just turned 33 last week and my 401(k) finally hit $100k. Slacked off in my 20s and have really been buckling down these past few years. It can be done!
This is my goal. I’m 30 at $60k, turning 31 in a few months and working towards it right now. 2 more years out and I’ll hopefully hit my target.
you will do it easily just keep the money in the market and buy the dip
I’m 32 and I’ll be a millionaire by the end of 2021 or sooner. Assets pay!
"Hello I'm a Nigerian prince." XD
From real estate?
What assets are you using?
I'm 27, reached my first million a few weeks ago ❤️
@@level1053 that’s awesome. What steps did you take?
I turned 33 Monday and have $200000 saved :)
How much do you make?
In your dreams :)
That’s awesome
Good for you, money is not everything
The goal was 100k, therefore you failed
Just turned 33 😁 started my FIRE journey last year 🙌🏻
I’m 17 with around 10k saved but I’m planning on diverisifing my income and paying for university with little to no debt
Tons of people that spend the first 33 years of their lives studying. This video doesn't consider lawyers, doctors, ect who sometimes still have a negative net worth at 33
Thanks for this comment, now i feel better )
Kevin says go to trade school ..
@Financial Clinic Wait, how? If you aren't a dentist yet, then none of that $200K is from being a dentist. Which is totally OK, but isn't really relevant to the comment you replied to XD.
Financial Clinic have you just been working a lot?
Jeffrey Whittler or work while going through college. Pay your way. Not everyone is willing tho
I’m 34 and debt free 😂🤷♀️ (I’m way behind the 8 ball on the 100k saved, but my house car and everything i have is paid off!)
Family Broich count the equity
Family Broich NICEEEEEEEE
If you have a paid off house you are doing good even if you are cash poor.
How are you behind the 8 ball with a paid off house?!?
@Nicks Kicks I see. I have a paid off house too and although I prioritized paying it off before building my liquid I don't feel behind at all. People are paying rent. Others are paying a mortgage. I pay my monthly insurance and my Property tax at the end of the year. It is so ahead. So far ahead. Especially when you don't have that big expense every month.
“I’ll give you 24 extra months - that’s why they call me Mr. Wonderful” Lol! I love this guy.
Compound growth and investing early are much more important than income when it comes to wealth. Start as early as possible even if it seems like just pennies.
Yep, wish someone taught me this when I was 18. I'll be teaching my son however.
350k by 31.
I got real lucky buying an apartment for cheap and selling it when the market got hot. Doubled my money and used that equity in stocks and commodities, managed another 50k. Also very grateful to have parents that helped pay my student loans after university. Looking to buy a house now with my wife and son. Long term, I'd like to buy a rental property and have that be my passive income.
I started at 24 with -$27k net worth due to student loans and car debt. Four years later, I'm 28 with $106k in savings and investments. You can do it to!!
Wow... That's awesome...
I am 23...21k saved so far
@@nikeshpoudel1461 Awesome. You're on your way!
Wow that’s cool almost the same story but I’m only 25 paid off 24k and now have around 60k
@@theAppleWizz I'm glad to hear it. You should be ahead of me in a couple years. Keep grinding! It's a marathon, not a sprint
Not a brag, but I had 20K (total) two years ago, just hit 1M this year at 27yo
I'm 27 and got well over 125k saved and invested. Have been fortunate enough to be educated on the value of a dollar and hard work. Worked through high school and college and saved my money and always bought everything in cash and not financed. Definitely can be done, just need some discipline.
I just turned 25 years old and have a total of 105k saved. Believe me it's possible, watch your spending and the numbers will grow
Shiven Patel yeah but you got your money from your parents so you technically didn’t save
@@monsterkis My parents are broke. I'm a Civil Engineer so I make a fair amount and have been saving for 3 years
@@shivenpatel1450 You save over 30k a year? That's insane my guy my goal is to save 20k a year but its tough
At 33 I had $30,000 saved. With saving and investing, today at 45, I'm a bit past $500,000.
At 33, my job paid $34,000. At 44, I now make $64,000. I live in Manhattan. Totally possible.
Manhattan? On $64k?? 😧😯😱
@@devon9374 Yes. I do tend to make an extra 4k-6k in side hustles (not this year though because of the quarantine). And I put away at least $1000/month to invest.
@@DavidAWA How sway? how? is rent not 3k per month in manhattan?
@@devon9374 Naw. They say that Manhattan rents "average" $4000 or $5000. But those are all downtown neighborhoods. And there are some crazy expensive apartments skewing the numbers in every neighborhood.
Go to Inwood, Washington Heights, Harlem (basically 98th Street to 221st Street) and your averages can go to $1600 or $2300. And even with those, that is the average.
You can find places for lower as long as you can take care of yourself.
And also that a lot of people have roommates, so a $2600 three bedroom is $866 a person.
I'm lower than most since I've been rent-stabilized since 1999, so my 2 bedroom is a touch over $1400. But I still think my place would go for $1800-$2200 if it weren't stabilized. I had a roommate for years ($700 each) but I live alone now.
So, all my real expenses (rent, utilities, transport, food internet, phone and at home entertainment) comes in under $2000/month.
27 w/ about $25k saved. I think it’s a solid aspirational goal for many people, but of course people have different situations going on.
Wife and I save around 3-4K a month. Best advice is to be always be prepared for the unexpected, car, house etc. Try to give yourself some spending money and not touch your savings.
Mine is by 22 I saved 44k last year at age 18 it’s been invested into an 18 wheeler now so I’m saving up again stay at your parents for as long as you can!
20 years old and have 12k. Im 12% there! Will keep grinding and being smart
You’ll be there in no time!
@@jameshilverda1814 2020 has been a wonderful year for me. It really brightens me up to see how far I've come in 9 months... 9 months ago I only had 12k... Inspiring
Wow, and to think it was only one year ago I had only 12k...😭😭😭 Jesus
45k saved and I’m 25. No debt. Investing as much as I can early so that I use time on my side to compound and get more return on capital.
Neil Narain Great job bro! 🙌🏾
Thanks for the suggestion
The best advice I got as a 18 year old entering the workforce . Every time you get a raise contribute and additional 3% of your raise to some sort of investment. I took this advice . Now I’m 32 and easily met this goal.
36 years old and 330K saved. The first 100K is the hardest.
Truth. Well done. Millionaire by 50 maybe?
Me reading all of the comments and comparing myself to everyone ...😬
I'm 32, need to save $110k (have $10k worth of debt) in less than 6 months.
Challenge accepted. :D I'll come back and let you know where I am in 6 months' time.
I heard that.
You mis placed your apostrophe, and for that reason I’m out.
A good start is to stop paying for cars you can't afford. Nothing is wrong with a used Corolla bro
Blair Walsh you misplaced your space...
Jsk0915 And for that reason, I’m out.
29 y/o and €100k saved. However, much depends on your salary range and years of experience (did you start working at 18 or 23? do you make €20k or €80k). I’d argue that someone earning €30k and having €80k at 33 is in better shape from a budgetting standpoint than someone making €200k and having saved only €100k.
The next video should be a boating safety course.
😆😂😂
15 and have 17k saved, I hope to become a millionaire by the age of 30
how did you do that?
@@lizavartanova drug money??
@@ronijr4918 LMAO
Great job, ill race you, I’m 19 right now
@@batmangotham717 I'll race you. 22 here
Will this apply to people from all countries where the currency exchange is different,
I'm 32 and I'm just over 100k. Yay
@@iheartmygummybear no that was separate. 115k in my RRSP
I have over 100k and I’m 34 but it feels like it’s not enough
What’s your occupation👀 asking for a friend.
Bro you got many years still. I'm 29 and I got like 40K in savings, but just got a mortgage and no student loan at least.
then keep grinding 💵
加油哦
It’s definitely not enough now but you have plenty of time to grow it through investing and continuing to add to the pile
24 years old and have 50k so far. Will be at 70k by the end of the year.
I'm 25 and i got 11k saved. I'm blessed I'm making progress and learning at the same time.
I live in Moscow, engineer.
Iam 33 years and now i feel sad 😐
I guess we're supposed to say how much we've saved in the comments!
I'm at about $35K and age 30. I feel behind, but I've also enjoyed several amazing international vacations that I took in these younger years of mine, that will be far more difficult (and expensive) in the future with a spouse and kids, so I feel that experiences and traveling are invaluable and priceless.
I wish that all of my friends would watch this video; I know so many people who probably have NOTHING saved up who are my same age. Many people in these comments are doing well, so kudos to y'all!
That's still plenty enough savings to be financially secure. I think you should absolutely sacrifice some of your savings (smartly, of course) to travel and do all the fun stuff when you're young.
Youth is precious, and you only have it once, so don't waste it!
I agree. I would have a lot more saved if I didn't travel extensively but I think it was worth it.
When I was 20 I had around 21k saved up then I had to move out of my parents home to finish up college then all my savings started to go down because I wasn't making enough money while in college to cover all my expenses. I regret not investing at that time, now I'm around 13k in savings at 27. I can't complain giving the fact that I moved here from Jamaica 9 years ago.
Life happens man , at least you think about saving and are doing it , financial freedom is key
You're doing good man. Don't let these guys influence you. 100K is the goal but so is 100 calories. If we don't make it it don't matter. Where are you at 3 years later from this comment?
@@Junkmailcrusades Hey man, thanks. 3 years later I’m at 50k in savings. Unfortunately I had to take out money from my 401k for emergencies but I have around 13k in investments. Long way to go but getting there
I'm 23 this year and alrd saved and invested my 31k, started bottom now we're here. Did not hang out as much and self educate myself from personal finance to the markets so guys it's never too late LET'S GO
Just finally hit the net worth 100k line few weeks ago with one more month before I turn 34. Been rough, didn’t start really working a full time job until 25, didn’t finally pay off all credit card debt (up to 17k at one point) until 2 years ago, and didn’t finally even know about 401k’s, ROTH IRA’s, REIT investing, etc until last 2 years, all while having majority of my income get spent taking care of my mother. Not easy, but absolutely doable, one day at a time. I really wish they taught wealth management in high school or made it a set required core classes college. Absolutely ridiculous and sad that I had to stumble across all this via random CZcams videos
I'm 33 and waiting for my stimulus check! :)
lmao
😭🤣
Im 32, and right on target!
Does that exclude paying mortgage?
Im 21 with about 100k. Not gonna lie this was due to extreme luck but once you have money it is kinda scary just how many more options are available to you to make money. Even though 100k really isnt much its still enough to make a lot of money.
21 and I have 8k saved I think I’m in good track.
good job
Nice! Put as much of your income in making a passive income, and your set.
@@ominousduck7929 I have almost 2k in the stock market, my major investment are KO, apple and BAC with AGNC
Haha same here buddy, we got this
$30,000 saved up at 20 years old. On the way!
How much do you make? I have 25k and 21 years 😪
Nice
Love taking my financial future into my own hands, projected to hit that by mid 20s
Does the $100,000 include stocks and bonds? Or strictly savings which is a separate entity?
Is this pure cash? What about if its in other assets that are liquid.
He said have 100k invested in index funds
I’m 25 I’m almost debt-free and I have a net worth of about 21k right now. I think 100k is more than achievable for me by 33
Ya know, I'm so sick of billionaires being like "Just save $100,000 by 33, it's easy". Give me a break. Kevin O' Leary sold his company for like a billion dollars when he was in his 20s, so it's so easy for him be like just do that. I've never made more than 40K a year my entire life. If I saved 20% of every paycheck I wouldn't eat or pay rent. Last year I started my own company, as of Sept. 2019 I have made $58,000 in revenues with a goal of $100,000 for the year. My point is, don't invest money if you can't afford it. Rather start a business to have an endless supply of money coming in. Now 10% of my revenues will be invested going forward.
make more then
Most of them grew up with rich parents.
This guy's not a billionaire
@@jm7588 once you're at a certain point you can pretty much get anything material whenever you want it
I'm gonna be 29 this year and have 155k saved. Unfortunately it's in Canadian dollars though so that's like 9k USD.
Damn..I'm 30 and waaaaay behind lol but I'm working on it.
Woe I am 33 lol, I don’t have 100k
33 here and my net worth is about 800k. I started investing at 21 though, mainly in real estate.
I’m 30 and I’m already there 🤓 though 20% of that is in my 401k, 5% in stocks, 5% on crypto, and the other 80% in my checking. I love to save and I’m glad to be on the right track according to Kevin. Bless up!
80% checking ? Why ?
@ I know it’s not smart to do that because savers are losers due to inflation. I’m focusing more on investing now.
I can listen to this guy give me financial advise all day! Even learning these basic fundamental is great
66K at 25. Debt free and on the right trajectory! Just need to reduce spending. Positive net income some months and negative net income other Months.
Stay on the right path. Don’t lease a new car unless ridiculously cheap (under $200 per month). Live with parents as long as possible. Make as much money as you can without sacrificing happiness (to an extent).
That's dope Paul! I'm 25 too, and I have $42K saved up. I paid off over $50K in student loans, and still have $19K to go.
Joshua Mathew stay at it. Slow and steady wins the race. I tried getting to the top quickly, wound up committing fraud, now I’m waiting to be sentenced. Had I just stayed on the path I was on, I would have been close to the money I currently have now anyway. Keep up the good work and stay focused.
Joshua Mathew thanks man! I’m now 26, and am at 88K. I’m investing consistently, but have increased my spending because I want to start my own business!
James Anthony Yes! There are so many get rich quick schemes out there.. I’ll try and avoid temptation!
does 100k in investments count as savings? or are savings and investments 2 separate entities?
27 with 50k in retirement. Started at 24.. I'm on track!
I saved 20k in one year when i was 23 for a down payment on a house. Im 25 and my house is payed off!
was it a small house?
Congrats! No where near possible to do in Seattle 😪
Do you live in a shed?
Great advice! I'm close I hit 96k at 35 years old. But I wasn't serious about saving until I was like 33 years old. But now I have a strategy, a plan, and the drive to hit all my goals.
Jorge I’m 33, what’s your strategy if I may ask. I’m behind lol
@@edb484 Don't worry buddy here is quote that really helped me "The best time to plant a tree was yesterday, the second best time to plant a tree is today" "Plant the seed that will give you shade tomorrow". I have read a lot of financial help books, some of the stand out books are: The Total Money Make Over by Dave Ramsey, The Simple Path to Wealth by JLCollins, The Automatic Millionaire by David Bach, The Richest Man in Babylon by George S. Clason, I Will Teach you to be Rich by Ramit Sethi.
With that said, the fastest way to wealth is not to have debt, I paid off all my debt and then got on a budget and stuck to saving money and not buying things that I didn't need. At first I started slow and then always moved to save more and more money over time until I made it a habit. I also joined a online community on Facebook ChooseFI which is all about saving money and retiring early.
My best advice is to read or listen to a couple of audiobooks on the subject. Create a plan, a budget and get out of debt if you have any and reduce your expenses as much as possible. I hope this helps, there is no magic trick to get wealthy only hard work and creating a plan and sticking to it. One last thing that helped me was to create a emergency fund so there isn't any surprises.
I am 33 and managed to save 140 000$ so far. Great advice
Im 30 and bought two homes at $135K each in CA. Each one cost me $25K . So far so good, i think.
30 and I am worth about 600k between houses and business. I am honestly not happy atm because I am overworked myself like a dying mule. Money truely cannot buy happiness.
You have enough to retire comfortably, perhaps you can cut yourself some slack and let your money work for you.
@@V.E.R.O. not even close that’s like 20k a year if he retired plus he said in his home u can’t pull money like that so he’d probably make 10-15k a year off investment
@@danielschmidt_vlogs4086 he said between houses and business, he can sell some of the houses and business, invest the money so it makes more money and live off of that. He can live comfortably and enjoy his life, what's the point of making so much money if he's not enjoying his life?
One should work to live not live to work.
My net worth is about 250K and 31 years old. I'm doing pretty good!
Do you invest in stocks or have any real estate as well? And GJ btw
@@olleydrum9016 yeah I bought my condo that was a short sale and got a really good deal on it.. it's worth almost double now so that helped.. I only owe 65K on it and I can almost pay it off in full right now but I plan to have it paid off within the next 5 years.. also I saved about 50K starting out living with my dad til I was 25 and bought my first property. I've always lived frugally and I've always hated spending money and crap I don't need.. ppl call me cheap all the time but those are always the ones living paycheck to paycheck..
@@olleydrum9016 also I've recently been getting into trading stocks and I've been binge watching ziptrader (Charlie's channel) I use think or swim platform and started out trading with 5k
@@dextermorgan4172 nice likewise, I purchased a shortsale in 2012 in an expensive area and it doubled. I did refinance a few years ago though and rolled some cash and invested it in stocks along with putting capital in a family business. In short, my stock investments are +40% and the side business is pulling $5k/mo profit. Similar boat on living below my means lol only thing I do spend alot of $$ though is DIY tools and kitchen appliances.
@@dextermorgan4172 Nice, and use Roth ira too and max it out. Great vehicle for tax free investing though you put post tax dollars in it.
Does home equity count? If so I'm ahead, otherwise I have some catching up to do.
Yes. Home equity is an asset.
Kevin O'Leary: "I would never pay $2.50 on coffee That's a waste of money"
Also "ooo a $200 bottle of wine"
Turned 27 today with $15k saved. I plan to put away at least $100k away by next year.
Alejandro how did that turn out for you?
@@jonnybobo678 still working, really hard but managing.
24 Years old, and got 18K saved. 💪🏼
That's nothing
Roy Dodge That’s more then half of Americans in their savings lol
@@JohnKExp But those other American's probably own houses or have other assets
Roy Dodge Fir sure. I’m taking about money in their saving account specifically. I’m just getting started in buying assists. So far I’ve got about 2 grand in stocks now.
@@roydodge4340 what kind of loser are you?
Im 24 years old and about 7k in the hole in terms of net worth but currently have an entry level power engineering job that pays 90k a year, 2 children and a wife so fingers crossed the future works out
i’m 18 and have about 70k saved, i make my money through reselling things and trying to save for when i’m back from Uni
nice hustle
Just turned 25 and I have 140k saved. A frugal lifestyle is key!
What’s your occupation👀 asking for a friend.
@@isaiahgibson3699 I studied applied math and work in the investment space. Living well below my means is why I have money saved. Honestly, it doesn't matter what you do or where you work, if you can save a good portion of your income (through a frugal lifestyle) it'll lead to so much more happiness and financial security.
@@karlanpatel Frugal lifestyle is the key but you gotta keep in mind making 60K net income and saving 30K is a lot easier than saving 30K with a 30K net income 😁
Both income and spending are important.
@@bsarioz www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
Check out the above link. Savings rate is what determines when you retire. Additionally, lowering your spending rate is much more powerful than increasing your income.
I agree with you that obviously it is easier to save money when one is making more. However, in the US, we place such an emphasis on higher income being the necessary prerequisite to financial freedom. Spending less and investing over the long-term can make anyone (assuming they work) a millionaire. I watched a video on the Dave Ramsey channel a few weeks ago about a janitor who had a net worth of $8 million when he passed.
Turning 30 in October with about 48k saved. Had a company sponsored pension since 2013 that I contributed modestly to (5%/5%). Only started ramping it up since March, as well as personal investments, will hopefilly reach 100k by 33. 35 for sure 😀
No 33 you got this....compound interest is sweet!
@@Shawn-ho6de just turned 32, 82 k saved now!
@heybubbah right on!....you will be there in no time! Once I hit 100K things started taking off. I am 37.
I'm 30 with 200k. I wish I started at 0, but I didn't. Worked hard to get myself out of 165k of debt. And I've been consistently working/investing since then.
24 and I have 60k saved and invested. I also have 40k equity in my mortgage. I'm excited to see where I can get to in the future.
Saved 100k by 26. Almost 30 now, invested the money and have around 300k in net worth (invested mainly in real estate).
Marry me jk lol
Sr. rio lol already married 😂 combined net worth over $1M 😀
@@TeenaNikole why don't y'all count it together only? Just curious not judging I promise.
thecreoleson lol! We do count it together but I was just talking about myself individually as my individual “achievement” if you will. It’s a bit misleading to tell people I’m worth 1M when that’s a combined net worth.
@@TeenaNikole that's always my debate. If I ever get married ill probably say we are worth blah blah blah just for clarity. Do you consider yourself a millionaire or are you going to wait?
I'm 21 with about 10k saved up. Most of it is invested in stocks and cryptos though, is this a wise move? Or should I focus on etfs with consistent returns and lower volatility 🤔
Does this include assets like a car? Or just cash/retirement? He says “saved somewhere” so I’m not sure?
Saved 100k at age 24 already. And it keeps growing!
I’m 30 and my 401k is $138,000... I started investing in 2016
How much did you allacoate
@@socksamazingchannel 33% of my income. It’s a Roth 401k.
32 and 10k saved. Wish me luck.
I'm 35, married with kid, 1.7M CAD net worth, 60% in primary residence. Far from enough to retire comfortably in the west coast...
I'm 33. I have ~$55,000 & a mortgage of about 6x that.
28 here with 1 million in the stock market and house is paid for!
props to you
It's all about maintaining your expenses low, constant self improvement to increase your income over time, using debt as a tool, and seeing stock market down turns as an opportunity.
I'm 22 and I've saved 120k already.
That's amazing I'm assuming you didn't go to college
@@jm7588 screw college lol
I’m in a similar boat . 21 with about 110k
I had 250k cash saved in Feb. Market dropped and I threw it all into travel and oil stocks in March/April . I now have 500k robinhood portfolio as of today... it doubled. When you have cash when the markets are falling apart. You can make a killing. I'm 32.
I turned 19 last week and i'm currently at $25k. Getting there!