ST Alpha - ""For instance, a 25-year-old should ideally have a net worth of $325,000, which is half their annual income."" (Reading a Post)

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"For instance, a 25-year-old should ideally have a net worth of $325,000, which is half their annual income."

Posted by 🏳️‍🌈 mandy chem 🏳️‍🌈 (aka amanda) Jun 21 '24, 04:56

Young Achievers (Ages 25-35): For those starting their careers, the goal is to quickly scale their net worth to catch up with their earnings. For instance, a 25-year-old should ideally have a net worth of $325,000, which is half their annual income. By age 35, this figure should ideally multiply five times their annual income, reaching around $3,250,000.

Mid-Career Individuals (Ages 40-55): During these peak earning years, individuals should focus on significantly growing their net worth to prepare for retirement. The multiplier increases from 10 at age 40 to 18 by age 55, marking substantial growth in expected net worth from $6,500,000 to $11,700,000.

Pre-Retirees and Retirees (Ages 60 and Above): Stability becomes key as individuals move closer to or are in retirement. The income multiplier levels out at 20, suggesting a net worth of around $13,000,000. This reflects a peak accumulation phase where the focus may shift from earning to preserving wealth.

seems legit (finance.yahoo.com)

Responses:

I think i had about $32.50 when i was 25. And if I need 13M to retire, i am beyond doomed. -- nm - Andie Jun 21, 06:51
I'd show this article to my 25 and 26 year old - but I think it would put them over the edge and I'd have to pull them off the clocktower. -- nm - Turd Ferguson Jun 21, 06:30 3
- Remember, this article is if you want to be in the Top 1%. It's not what you need to be able to live in the style you've become accustomed to. -- nm - Dano Jun 21, 07:01 2
  - Oh, I know - they're in a place about this stuff right now. They're both pretty convinced they'll never be able to actually buy a house. nm - Turd Ferguson Jun 21, 07:08
  - But what about living in the style I *want* to become accustomed to? -- nm - znufrii Jun 21, 07:07
"$325,000, which is half their annual income." -- nm - Dano Jun 21, 06:27 1
- right?!? -- nm - prayformojo 🐵 Jun 21, 06:29
looks at 40-55, laughs -- nm - hollywood big shot Jun 21, 06:21
Obviously it's our fault. We were born into the wrong class. -- nm - sycor Jun 21, 05:44
Based on an income in the top 1%, to have a net worth in the top 1%, which…okay. -- nm* - znufrii Jun 21, 05:06
Wut -- nm - ty97 Jun 21, 05:01 5
- I... am behind in retirement savings. -- nm - 🏳️‍🌈 mandy chem 🏳️‍🌈 Jun 21, 05:27 4
  - They do say this is for 1% ers, but I hate these stupid articles for how they drive unrealistic expectations. -- nm - Reagen Jun 21, 05:35 2
    - Disregarding the fact that if you have an income in the top 1% it’s probably because you already have net worth in the top 1% -- (edited) - znufrii Jun 21, 05:40 1
      - Right? "How do I make my yacht payments and still use my Italian villa" -- nm - Reagen Jun 21, 06:12
  - f*ck - not even the doctors I work with have that kind of scratch and they've been socking the max away for years -- nm - decline Jun 21, 05:29

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"For instance, a 25-year-old should ideally have a net worth of $325,000, which is half their annual income."

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