IBeMe Posted June 18, 2022 Share Posted June 18, 2022 (edited) How much money should you have in your bank or in investments or w/e by the time you hit 30? What would be considered a good amount? Let's set goals girls! I read somewhere that having 50k by the time you hit 30 in a savings account or at least part of it in investments or w/e is considered good but I feel like that is too little. By that point you should have been working full time for a good 8 years after graduating at like 21-22 years old (well if you graduated "in time"). Obviously life is expensive AF so having any savings is probably good but yeah... Edited June 18, 2022 by IBeMe Link to comment Share on other sites More sharing options...
State of Grace. Posted June 19, 2022 Share Posted June 19, 2022 $0 cause we're dying anyway Link to comment Share on other sites More sharing options...
ryoncé Posted June 19, 2022 Share Posted June 19, 2022 This is such a dumb thread to post right now with everything going on in the world, we should focus on supporting and rebuilding our communities not hoarding wealth in a rigid system check your priorities Link to comment Share on other sites More sharing options...
Dialamba Posted June 19, 2022 Share Posted June 19, 2022 (edited) If you start working at 22 you need to save at least 500 per month, it’s almost impossible unless you’re paid +3000 per month. personally I don’t think I will save, life’s too short. Edited June 19, 2022 by Dialamba Link to comment Share on other sites More sharing options...
Tropez Posted June 19, 2022 Share Posted June 19, 2022 I do think at least 50k is decent, you should also be trying to push for a higher salary career also. But yeah, with the recession coming in this year. We will see a nasty economic disaster. Along with famine from the war as Ukraine is a major food producer. Link to comment Share on other sites More sharing options...
gatito Posted June 19, 2022 Share Posted June 19, 2022 what the **** is savings? Link to comment Share on other sites More sharing options...
Bosque Posted June 19, 2022 Share Posted June 19, 2022 You should have any (even if a low) amount of savings for me to consider you romantically. I don't care if you have student loans or stuff but at least show that you have the capacity to save Link to comment Share on other sites More sharing options...
PieceByPiece_KC Posted June 19, 2022 Share Posted June 19, 2022 I'm about to turn thirty and I have about $250K in savings Link to comment Share on other sites More sharing options...
Headlock Posted June 19, 2022 Share Posted June 19, 2022 Link to comment Share on other sites More sharing options...
Illuminati Posted June 19, 2022 Share Posted June 19, 2022 1 minute ago, Dephira said: You should have any (even if a low) amount of savings for me to consider you romantically. I don't care if you have student loans or stuff but at least show that you have the capacity to save We are not here to be your romantic interest bestie tell us how much you have Link to comment Share on other sites More sharing options...
ConceptD Posted June 19, 2022 Share Posted June 19, 2022 8 minutes ago, Dephira said: You should have any (even if a low) amount of savings for me to consider you romantically. I don't care if you have student loans or stuff but at least show that you have the capacity to save If someone asked to see how much money I have that would be an immediate ghost from me. Link to comment Share on other sites More sharing options...
45seconds Posted June 19, 2022 Share Posted June 19, 2022 You do not actually make savings money until you reach your 30s and 40s, as this is the time when you are peaking in your job prospects and salary. So it’s is perfectly understandable to have not that much saved by 30. Link to comment Share on other sites More sharing options...
Danny789 Posted June 19, 2022 Share Posted June 19, 2022 You don’t need to reach a certain threshold by a certain time. Everyone is out here trying to survive, we don’t need time tables to make it worst. Link to comment Share on other sites More sharing options...
PMKARDASHIAN Posted June 19, 2022 Share Posted June 19, 2022 13 minutes ago, ryoncé said: This is such a dumb thread to post right now with everything going on in the world, we should focus on supporting and rebuilding our communities not hoarding wealth in a rigid system check your priorities This. As a 33 year old who knows how to save and spend money and has a good paying job, I don’t have 50K or anywhere near it. I have a friend (who works the same job) and works 14-16 hours a day 5-7 days a week, and he barely has 25K and that’s because he’s building a home and works and saves like that for expenses. You don’t need to have a certain amount of money to consider yourself successful. What an absolute SAD way to view life and yourself. And for people saying they wouldn’t date someone based off that persons financial situation, girl then stay single cuz you don’t deserve to terrorize and use someone for money Link to comment Share on other sites More sharing options...
sugarysunflower Posted June 19, 2022 Share Posted June 19, 2022 (edited) There's too many factors and everyone's circumstances will vary. I'm not a financial advisor so don't come for me. Here's some pointers though: Some people go to grad school and haven't had time to build up savings and have significant debt, some people haven't moved out or not been able to negotiate a higher salary (yet, if you're private sector PLEASE vocalise your worth to your managers), some people aren't financially literate until later in life., some people literally have kids or a career switch or don't start their career till their mid-to-late 20s. So it'd be unfair for them to have $50k by 30 (some might only have $10k some might have $1000k). However, everyone SHOULD set themselves their own personal target where they don't need to first ask anyone else. Everyone by 30 should ideally at a minimum have at least a 6 - 12 month liquid emergency fund saved up in the case of unemployment, health, renting issues (you should know on a monthly basis how much for you this will be) *Set up a spreadsheet of your monthly incomings/outgoings (normal income, savings interest income, dividend income) and work where you biggest spending habits are [rent/food/insurance/fuel/transport/vacations/subscriptions etc] and whether they are necessary and where you can make cuts - be aware of tax-loops you can take advantage of like the personal allowance and remember pension annual allowance limits, or any age-related discounts on products *Set up a direct debit going into multiple savings account which you can't touch. It'll spread out the risk of bank fraud and your desire to keep fiddling with your money. Most MAJOR retail banks have the same rates (smaller ones or building societies will vary), so please do your own research by asking around who the most reliable/best customer service bank is. *Research your investment opportunities: ----Max out your pension (401k, UK/EU workplace pension, SIPP) ----Take advantage of your company's share option plan if they have one (and any other benefits like med/dental/sponsorships for education) ----Open up a S&S ISA /// ISA/Roth IRA /// your countries' equivalent ----Look around various index funds, ETFs, mutual funds, commodities, derivatives, fixed-interest investments like bonds issues, defensive investments, property, individual company stocks which you trust - continuously add to them m onthly, but don't obsess over them, just read and adjust the portfolio every 3-6 months - DO YOUR RESEARCH (look at financial statements, look at the last 3 year's AGM outcomes, look at the company's historical performance and statements on their future strategy, look at financial media reports, look at the company investor relations page documents) - the more you do this, and get to know your relevant sector and who the major players are, how these companies/sectors fare during periods of growth or periods of stress, the better your gut instinct will be to take advantage of future opportunities ----Compounding investing is so important and the earlier you feel comfortable doing it, the more likely you will benefit from it earlier. ----Anyone who wants to get on the property ladder, many countries do offer specific accounts for first-time buyers so please look into these now so you can be aware if your governments will change them which may disadvantage you later in life (e.g. LISAs in UK are only available until you're 39 years I believe). *Consider side-hustles/entrepreneurship (interpret this how you will; whatever you're interested in). Edited June 19, 2022 by sugarysunflower Link to comment Share on other sites More sharing options...
benyonce Posted June 19, 2022 Share Posted June 19, 2022 28 minutes ago, ryoncé said: This is such a dumb thread to post right now with everything going on in the world, we should focus on supporting and rebuilding our communities not hoarding wealth in a rigid system check your priorities Saving for your future and having some sort of security blanket for times like this is hardly hoarding wealth. We aren't talking about people sitting on millions here, which is where the problem lies. Link to comment Share on other sites More sharing options...
Bosque Posted June 19, 2022 Share Posted June 19, 2022 19 minutes ago, ConceptD said: If someone asked to see how much money I have that would be an immediate ghost from me. Not sure what drug you were on to think that that would be a question I ask outright. Link to comment Share on other sites More sharing options...
Bosque Posted June 19, 2022 Share Posted June 19, 2022 27 minutes ago, Illuminati said: We are not here to be your romantic interest bestie tell us how much you have I have more than enough for anyone's standards. Just show me you're able to keep up with me in attitude and we are good. Link to comment Share on other sites More sharing options...
Gorjesspazze9 Posted June 19, 2022 Share Posted June 19, 2022 (edited) Everyone’s perception on savings is different. I don’t really know anyone that has 50K in savings. Y’all really saving 50K a Year? Edited June 19, 2022 by Gorjesspazze9 Link to comment Share on other sites More sharing options...
Attitude Posted June 19, 2022 Share Posted June 19, 2022 Do they really have 50k when most of us are paying credit card, school, and auto debt and on the off chance a mortgage? Most of us are in the red. Link to comment Share on other sites More sharing options...
Jotham Posted June 19, 2022 Share Posted June 19, 2022 1 minute ago, Gorjesspazze9 said: Y’all saving 50K a year? ? Damn I need a new career Right? This thread is making me feel poor. Link to comment Share on other sites More sharing options...
Gorjesspazze9 Posted June 19, 2022 Share Posted June 19, 2022 5 minutes ago, Jotham said: Right? This thread is making me feel poor. I know right? Link to comment Share on other sites More sharing options...
ConceptD Posted June 19, 2022 Share Posted June 19, 2022 28 minutes ago, Dephira said: Not sure what drug you were on to think that that would be a question I ask outright. 25 minutes ago, Dephira said: I have more than enough for anyone's standards. Just show me you're able to keep up with me in attitude and we are good. I think you need to tone it down a bit girl Link to comment Share on other sites More sharing options...
Tropez Posted June 19, 2022 Share Posted June 19, 2022 50 minutes ago, ConceptD said: If someone asked to see how much money I have that would be an immediate ghost from me. I don’t see how that’s an issue. Nothing wrong with dating someone in the same economic class as yourself. So if you can’t afford to keep up my lifestyle it’s also a ghost from me. Link to comment Share on other sites More sharing options...
Queen. Posted June 19, 2022 Share Posted June 19, 2022 1 hour ago, ryoncé said: This is such a dumb thread to post right now with everything going on in the world, we should focus on supporting and rebuilding our communities not hoarding wealth in a rigid system check your priorities Since we want to be so generous today, when the last time you donated or gave funds out to someone or an organization during this tough time? Link to comment Share on other sites More sharing options...
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