/biz/ - Business & Finance

[Anonymous No.16070698]

How much savings should an average 25 year old have?

[Anonymous No.16070711]

35k here, NEET. half from parents, half from crypto trading

[Anonymous No.16070717]

>>16070698
around $250k is pretty average at 25 among my social circles

[Anonymous No.16070729]

The older you get the less emphasis there seems to be on success because the factors, probability for certain events to unfold in unexpected ways, and different life paths increase in variety exponentially as time goes by. Essentially everyone that isn't born into a wealthy and/or caring family is doomed to be a loser with exception to a very small minority who are smart enough and have the will to succeed beyond their stature. Congratulations anon, you are most likely a loser but don't worry, so are 80% of your fellow humans.

Try not to commit suicide or drink yourself into an early grave, you'll get there on your own sooner or later anyway.

[Anonymous No.16070741]

$0
Savings accounts are scams.

[Anonymous No.16070743]

>>16070711
i am legitimately seething with resentment for you. hope you diaf

[Anonymous No.16070745]

>>16070698
i had negative net worth due to student debt at your age. am comfy crypto neet now

[Anonymous No.16070748]

>>16070729
By the way, get a job and go all in on LINK

[Anonymous No.16070757]

>>16070698
More than you have

[Anonymous No.16070769]

>>16070717
It's fun to larp

[Anonymous No.16070927]

I have $17k in the bank and $8k in crypto
It feels like jack shit but it's more than all but one of my peers surprisingly

[Anonymous No.16070934]

>>16070741
How so?

[Anonymous No.16070939]

>>16070698
What race are you

[Anonymous No.16070940]

>>16070698
at least 10k link

[Anonymous No.16070969]

>>16070698
The average 25 yr old has no savings and is in debt.
What you "should" do use about 10% of your income to pay off debts and put 10% into savings.
If you're college educated (with a non-meme degree) you should have about $12k. Then again, it takes a while for most people to develop responsible spending/saving habits.

[Anonymous No.16070975]

About 500kg of gravel

[Anonymous No.16070977]

1 year of rent (I've paid 3 months in advance).
6 months of food/water
Generator w/ 3 months supply of fuel.
Guns and ammunition.
Enough cash for medical costs.

This is what I personally have and suggest, but each person has their own circumstances in life, so do things as you see fit.

[Anonymous No.16070982]

>>16070934
better off having it into btc than having a shit roi with a savings account

[Anonymous No.16071203]

I'm 24 and have about 60k in all my debts. I've saved up about 15k and put 2k in crypto. So yeah things are shit.

[Anonymous No.16071214]

I’m 24 and only have 2k. I live with parents who are very kind and I try as much as possible to not be a burden to them.

Like most of my savings are in link and as far as I can tell right now it might be my only way out of serfdom. God I wish I hadn’t failed college, no debt but fuck, I just hate working nights at a gas station

[Anonymous No.16071222]

>>16070969
How is it that hard for people to learn to just SAVE money? To me, not knowing how to save money is like not knowing how to breathe for fucks sake.

SERIOUSLY WHY THE FUCK DO PEOPLE JUST SPEND THEIR MONEY LIKE IT'S NOTHING???

[Anonymous No.16071234]

>>16071222
I did for many years. I would buy pot or luxury items to fill a hole inside me I thought was there but really wasn’t.

[Anonymous No.16071240]

>>16070698
I was a day labourer from 18 to 24 and then NEET from 24 to 27.
No savings and about 10k of debt.
I went to a coding bootcamp and within two weeks of finishing it I had my first Jr dev job. Few years into working now, changed company twice, life is a lot better. Able to live well and save.

There's always time to change your path anon.

[Anonymous No.16071243]

>>16071222

Have you seen rents lately you stupid fuck?

[Anonymous No.16071249]

>>16071214
>>16071203

Keep making a poorfag like me with only 20k in crypto like me feel good. Keep posting your pathetic savings, worms.

[Anonymous No.16071257]

>>16071243
Did you think I was actually referring to people who can't save? Now ask yourself who is a stupid fuck.

[Anonymous No.16071280]

I seriously doubt most people are even in positive net worth.

I’m friends with a slightly above average group, uni, working above average paid jobs. They didn’t party much, most are single and live at home. They still haven’t paid their debts, still barely have more than $5k even fucking saved. There’s too many expenses, new phone, new clothes, AirPods, games etc...

Now imagine the NORMIE population. They get all of those things AND go on holidays they can’t afford...get cars they can’t afford, go partying every weekend spending a shit ton on drinks. They have relationships. And worst of all they spend a good portion of their wages on rent. Most people are disgustingly poor and do nothing to better their situation. And spend like shit. If you even have positive net worth at 25 I’d say you’re doing good. At least you can save at this point.

I’m on $200k. 24. Got lucky in crypto, that’s it. No flashy day trading, just capitalising more than most did on that crypto boom.

[Anonymous No.16071283]

>>16071240
Thinking of doing this in a couple years after I'm done with my crypto investments. How much ws the bootcamp?

[Anonymous No.16071311]

>>16071280
It's the sign of a decaying economy. The west is going to get hit hard in a couple of years. I just hope Bitcoin doesn't go bottom-up or some shit. God damn Keynesians ruining the lives of individuals.

[Anonymous No.16071323]

>>16070975
I got that in granite, how fucked am I?

[Anonymous No.16071343]

>>16070698
on this board: probably something like 200k

in real life? a positive net value is great

[Anonymous No.16071349]

>>16070698
I had 30k, then bought a house.

[Anonymous No.16071355]

>>16071349
How much for the house.

[Anonymous No.16071359]

>>16071355
335k

[Anonymous No.16071366]

>>16070698
All your money should be going into your business.

[Anonymous No.16071374]

>>16071359
How bad is life with that mortgage.

[Anonymous No.16071385]

>>16071283

£6,000, but I've heard theyre increasing the price to £7,000 next year as they're moving to a new building in the heart of the tech area here.

Be careful, there's a ton of really shitty bootcamps out there that are designed to just siphon money out of you.

For the one you pick you want to make sure they're selective. There should be some barrier to entry to get on it.
The one I did had about 100 hours of pre-course work to do that you had to submit and pass before you could start the course. Thet didn't take any money for that part.
It made sure everyone was familiar with the dev environment and had basic programming literacy by the first day so they could push on quickly from the start. No fundamental knowledge holes to fill.

Also you want to make sure they have statistics available for their graduate outcomes.
The one I picked had very extensive stats on this and I transparency document that showed you their methodology so you could check they're not just jewing the stats by chucking people off the course or hiring them themselves for 3 months after.

You can learn to code yourself at home. What you're really paying for are the bootcamps career development resources. Mine set up about a dozen interviews for me before it ended and had their business partners constantly in the office checking out people who were soon to graduate.

[Anonymous No.16071388]

>>16070698
100k atleast

[Anonymous No.16071426]

>>16071385
Shit this sounds way fucking better than the college scam. So just look for ones that have a barrier to entry and grad statistics. Thanks for the advice, I'll try to remember it. I hope we both make it.

[Anonymous No.16071430]

>>16070748
Are you sure or are you trolling

[Anonymous No.16071431]

>>16070717
never gonna make it

[Anonymous No.16071476]

>>16071359
life is fine, I earn my mortgage in a week, my bills in another. 2 weeks pay a month goes straight into my pocket and Into investments mostly.
Thinking of selling my house to open a motel to be honest, live in the managers and just make as much money as possible until I hit 35.

[Anonymous No.16071482]

>>16071476
was for
>>16071374

[Anonymous No.16071501]

>>16070698
I could tell you how much I have but I'm well aware it's way above average. It'd just look like bragging/lying.

[Anonymous No.16071503]

>>16070698
-250k and heavily invested into the housing market

[Anonymous No.16071546]

>>16071426

Yeah.
The entry barrier is basically an assurance that they're not just taking on anyone. It should do two things.
>It should filter out people who don't have what it takes to learn quickly, otherwise they'll hold you back with constantly asking questions about material you've moved on from.
> It should make sure everyone is at a baseline competency and familiarity by day one. Again so it doesn't hold you back trying to get them up to speed.

If whatever barrier to entry your course has meets those two needs thats good.

The grad stats are a bit harder to judge.
You want to know
>what % of graduates get a job SPECIFICALLY as a software developer.
>How long it takes the average graduate to get a job.
>How much they earn on average, with a range of likely salaries provided.
>How long they stay in that job for.

That's the basics.
The way that an unscrupulous bootcamp can fudge those stats is by doing stuff like filtering all their graduates to one hiring partner they're affiliated with who just employs you for 3 months and then dumps you. So you need to see methodology for their stats to look for shenanigans like this.

They should have a list of all the businesses their graduates have gone on to work for, and testimony from a range of employers as to why they hire their graduates.

I could go on about this, being now at the stage where I get to interview people myself I can see the massive range in quality of bootcamps displayed in the variety of graduate they put out.

[Anonymous No.16071549]

>>16070698
Don't worry about how you're doing. >>16070969
is right about the state of most people

If you have debt then you should have $1000 emergency fund and put any other surplus towards paying the debt off. Otherwise it should be 3 months of basic expenses.

You're still young enough that if you can live %10 below your means and invest the difference the dividend snowball will do it's magic. You won't be driving ferraris, but you can live comfortably and your kids will get through college without huge student loans.

[Anonymous No.16071921]

>>16071323
Dump everything when it goes live

[Anonymous No.16071943]

it's not about savings, rather good investment. Invest in privacy coins, Monero, Stegos and you will be fine

[Anonymous No.16071944]

>>16070698
I'd say the majority of people have a few grand in their bank account at age 25. And yes most people are idiots. I think 10k would be a reasonable number to shoot for.

[Anonymous No.16071991]

Coming here in a bear market when I actually have money is great. I have close to 240k in liquid investments, 100k in a retirement account, and I outright own a roughky 300k house with no mortgage. I'm 24 and none of this is a LARP. And the funniest part is it's like 95% jist from getting lucky on the ICX ICO in 2017, buying ETH under $50 early 2017, and trading ELIX/Timereum before they literally exit scammed. I have no idea how anyone could repeat what I did again, but I paid all my taxes and that's what I have.

[Anonymous No.16072006]

>>16071991
Kill myself. I waited to long to start caring about my future. Now I’m 24,2k In chainlink, 300 in the bank, and a shitty car.

No debt is about the only positive

[Anonymous No.16072013]

>>16071943
You are so wise!

[Anonymous No.16072064]

Britfag here with £8500 saved at 30. That's saving hard from 28-30 though. I partied my teens and twenties away

[Anonymous No.16072068]

You should have 1 years worth of salary saved by the time you’re 30.

[Anonymous No.16072108]

>>16072006
Just keep holding link. It will eventually become worth 10 to 15 dollars at worst case scenario, 100 best case. Itll be a good roi, but the name of the game is patience. In the mean time, try to put as much money as possible into a taxable dividend growth portfolio. You can thank me when youre 45 and can retire early

[Anonymous No.16072126]

100k by 25
500k by 30
1500k by 35
3000k by 40

Dont worry im behind too

[Anonymous No.16072988]

19 year old here...

never had a job

[Anonymous No.16073008]

>>16072988
Don't bother. Learn a skill instead. Working a job when you're young is a waste of time unless you have to.

[Anonymous No.16073050]

>>16070698
You're young. Give it a few years and you'll stop caring, just about the time that things fall into place and your wealth starts accumulating.
At 25, I probably had a net worth of $30K just from boredom at college and working shitty jobs to pass the time.
In the past 8 years:
>Bought a $150K house circa 2012 that somehow is now worth around $225.
>Been investing 10% into a 401 Roth which is now worth $70K
>Dumped all my remaining income into the mortgage and have $15K left until being mortgage free - it'd be nice to see that puny $900/mo mortgage become $0
Hasn't been all roses through - married my wife who had college and car debt and paid $12K in cash for a wedding and honeymoon, and have kids now I'm trying to scrape together college funds for. Now in our early 30's, we've got a net worth of around $300K, but we aren't living the life of luxury.
This is the best advice - >>16070969
you should be only 3-4 years out of school.
If your net worth is zero, you're ahead of the game
>>16071222
Checked. Few people save because their savings is spat on by the banks through inflation.

[Anonymous No.16073083]

Just turned 24. I have like $35k because I graduated with no debt. Making like $60,000/yr in DC rn. My gf just paid off her debt so I will be able to start saving a lot more. In a gay studio and it’s driving me insane.

[Anonymous No.16073352]

I know your feels, OP. 28 here. I only started taking finance more seriously last 1.5 years or so as I spent my teens and twenties on the hedonic treadmill trying to convince myself I'm happy (I'm not). Make 40k-45k pre-tax, had basically nothing to my name, now

>30k 401k
>7k USD
>70 oz. silver
>0.74 BTC, 1180 LINK, 12 LTC, 8 ETH

I don't have much but beyond the 401k I accumulate the rest in the last 7 or 8 months or so. Current job isn't great, caused me to need to take out a large car note (17k) because I drive so much and need a reliable car. I just started going back to school to finish my bachelors in business administration so I'll likely have like 40k of debt. Don't know what I want to do for a career, likely making this move out of desperation. Unsure if I want to save that money while I go to school or put the money into crypto and hope it grows by the time I'm done so I can use it to pay for school

I was able to get a QT3.14 GF 2 years ago and we are in love. She recently got a 240k inheritance and wants to use ~180k to buy a house and invest the rest. She doesn't make much money but she has no debt. She also improves my quality of life so I'm thankful to have found her. I know this board says to avoid women and considering the state of modern women I would normally agree but I got lucky in finding my girlfriend. She is kind of a homebody and would prefer staying in and playing vidya than going to bars or clubs or anything. She's also becoming more redpilled

When I was 25 I was on a path that was either going to end up with me in prison or the ground. I don't think I'm doing great and I don't want to come off bragging because I'm not. Just remember that the average normie lacks foresight and cares too much about image so they spend all of their money trying to be people they aren't. Even if their life looks great, they're likely deeply in debt and trying to buy happiness. I know this because I used to be this

[Anonymous No.16073411]

About this much

[Anonymous No.16073434]

>>16073411
Nice, anon. I'm stopping my 401 contributions for the next 3-12 months and going into silver.
Between the Fed's actions and impeding recession hanging over our heads, actual value seems more appropriate than rolling the dice on the USD 30 years in the future while we're at the top of a market.

[Anonymous No.16073452]

>>16073411
so about 10k?

[Anonymous No.16073497]

>>16073434

[Anonymous No.16073500]

I've got approx 30k on my savings account and a 120k loan my apartment with a 1.8% interest rate which is totally normal if you exclude all delusional people here. Total net worth excl. the loan is around 100k.

[Anonymous No.16073510]

>>16070698
Depends on your country seriously. If you amerilard they will say $100K. If you are from the UK like me, most people my age have close to nothing, so having 5 figures is good

[Anonymous No.16073519]

>>16073510
fucking irritates me americans think they are the only English speaking people on the internet. I have to put UK after things I search like a cucked faggot

[Anonymous No.16073526]

>>16070729
this is oddly comforting makes me feel good, even though its supposed to be depressing.

[Anonymous No.16073568]

>No one in this thread is giving real answers, only bitching about gay shit
Currently you need about 1.5M to retire (assuming a 5% draw down yearly). Assuming 2.5% inflation going forward that translates to needing $4.1M in year 2060.
Also assuming you can earn 6.5% yearly on money + contribute an average of $20K per year, this means you should currently have about $195K in savings.

or about 10 BTC assuming bitcoin achieves same asset class size as gold ($500K per coin). This is the real promise of BTC...since its almost impossible for the young to make it any other way.

[Anonymous No.16073586]

>>16073497
>Stock markets at all time highs
>Interest rates at historic lows
>It's so bad the Fed is dumping hundreds of billions of dollars into bonds and bank loans
Yea, you're right. Let me keep buying stocks. It's not like there's going to finally announce a recession in 0.5-3 months just like most recessions (winter prior to a presidential election)

[Anonymous No.16073634]

>>16071222
They aren't thinking about it. Its akin to people who get really fat. They brush it off like its nothing when they shovel cake into their mouth/finance a new 19 plate Audi A3

[Anonymous No.16073647]

>>16071234
When you literally spend close to nothing, like I do . You realise everyone else is doing that, they just trying to fill a void, stave off depressing thoughts. People need to learn to cope with them/find free ways to improve your mood

[Anonymous No.16073660]

>>16071283
I seen it was £8400 at manc uni, so it put me off it till I get more gains.

[Anonymous No.16073678]

>>16071249
im just like you. Savings = crypto to me now.

[Anonymous No.16073682]

>>16073568
This makes me just want to kill myself as I'll never be able to achieve either of those avenues. Fucking A.

[Anonymous No.16073688]

>>16071280
I think once they get a mortgage they become positive eventually, but they aren't really thinking about it. They just see this mortgage payment like a rent they pay to the bank

[Anonymous No.16073698]

>>16073682
personally i think btc will go higher, but i wanted to be conservative. I think you may only need 2-3 or so to retire in 40 years. its an achievable goal.

[Anonymous No.16073708]

>>16073698
The entire system is so absolutely fucked that I'm just demoralized. I'm struggling to even get to 1 BTC.

[Anonymous No.16073731]

>>16071349
What a fucking retard. Should have bought gold before the deflationary collapse of all asset prices

[Anonymous No.16073748]

>>16070717
Oh my goodness, you don't realise how embarrassing this is

[Anonymous No.16073783]

How insecure do you have to be to tell others how much money you have?

[Anonymous No.16073788]

>>16073708
the system is fucked but remember is cyclical fucking due to boomers retiring. a new financial system is going to be constructed over the next 20 yrs as boomers place more and more strain on those under them. by moving to crypto, we will engineer them out of the equation. most will die in nursing homes being abused by the wild feral illegals they brought into the country so they could enjoy 'taco tuesday' and have cheap lawncare for their busted out mcmansions.

[Anonymous No.16073865]

>>16073788
Are you aiming for 3 BTC? Do you already have your bags? I want out of this rotten system.

[Anonymous No.16073923]

>>16072064
Dw worry bro in the same boat, ausfag, 29, pretty much $3k savings a $10k car, no debt. New job $68k pa and I can save around 60% of my salary while not living like a hobo. Spent my 20's travelling studying and fucking too many roasties

[Anonymous No.16073938]

>>16073923
>29, pretty much $3k savings a $10k car