Hellow guys, Welcome to my website, and you are watching Average Net Worth By Age (The Sad Truth). and this vIdeo is uploaded by Graham Stephan at 2023-03-03T13:00:04-08:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | Average Net Worth By Age (The Sad Truth) |
| Video Uploader | Video From Graham Stephan |
| Upload Date | This Video Uploaded At 03-03-2023 21:00:04 |
| Video Discription | Here is the average net worth by age, according to the Federal Reserve Consumer Finance Survey. Enjoy! Add me on Instagram: GPStephan | GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.com/newsletter GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC & READ MY THOUGHTS ON THE MARKET - USE CODE GRAHAM: http://www.public.com/graham The YouTube Creator Academy: Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF AVERAGE NET WORTH BY AGE IN 2023: From Ages 18 to 24: Median Net Worth: $8,216.04 Average Net Worth: $28,707.13 Top 1% Net Worth: $435,076 My Thoughts: First, go and get yourself a credit card with no annual fee. Second, make sure you also open up a Roth IRA or contribute to a 401k. Third, try to have 2-6 months worth of expenses saved up in cash. From Ages 25-29: Median Net Worth: $7,511.60 Average Net Worth: $49,387.83 Top 1% Net Worth: $606,188.36 My Thoughts: For most people, your priority should really be about finding a long term career, building to your strengths, and working as much as you can to maximize your income. From Ages 30-34: Median Net Worth: $35,111.76 Average Net Worth: $122,699.69 Top 1% Net Worth: $956,944.74 From Ages 35-39: Median Net Worth: $55,519.42 Average Net Worth: $274,112.44 Top 1% Net Worth: $4,034,486.45 My Thoughts: First, aim to COMPLETELY get rid of any bad debt, credit card debt, or high interest loans. Second, you should try to save AT LEAST 20% of your income. Third, your net worth should be 4x your annual expenses, or 2x your annual income. From Ages 40-49: Median Net Worth: $164,196.96 Average Net Worth: $761,560.21 Top 1% Net Worth: $10,494,100.10 First: You should consider buying a home. Second: You should, if possible, max out your retirement accounts. And Third: If possible, aim to have AT LEAST 5-7x your annual spending invested. From Ages 50-59: Median Net Worth: $171,320.07 Average Net Worth: $1,165,476.62 Top 1% Net Worth: $17,545,848.60 First, you’ll need to closely track your expenses. This will give you the best understanding in terms of how much you’ll need in retirement, and how much more you’ll need to save to get there. Second, depending on your situation, you should be about halfway through paying off the mortgage on your primary residence. From Ages 60-69: Median Net Worth: $271,805.38 Average Net Worth: $1,250,768.99 Top 1% Net Worth: $16,439,046.11 First: You’ll most likely have already paid off your mortgage. Second: Spending begins to DECLINE after the age of 65. Even though it might sound depressing, research suggests that “worsening health associated with aging reduces the need or desire for some types of spending such as trips and vacations” - so at least the bright side is that you can save a little more, if you haven’t done that already. Third: Now is the time where you can begin withdrawing from your retirement accounts without any penalties. All of this is meant to get you to realize that, at the end of the day - even though net worth is something to consider - a much more reliable indicator of “financial independence” is simply: How much you have invested, relative to how much you spend. It’s all about starting this as soon as you can, even if you’re behind, and then working within your means to understand what you need to do to reach your future goals. My ENTIRE Camera and Recording Equipment: https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB For business inquiries, you can reach me at [email protected] *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/ |
| Category | Education |
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