I feel I didn’t pay attention to investment or savings and work in a mid-pay company. Now I’ve got roughly 600k. Is this normal? I feel I got a good amount of money but given I didn’t do things special, I wonder if this is ordinary... YOE:3.5 My portfolio: 260 cash + saving account 85 Schwab stock 46 company stock 73 401k 62 bitcoin 100 Wealthfront Lol 62k worth not 62 btc #personalfinance
Good job. It’s not out of the ordinary in tech. Some are further than others. Personally, I make around $400k, but I only have $80k in cash Advice: you’re holding too much in cash. Inflation seems to be on the horizon. Maybe wait for a real estate collapse and if that happens pick up the pieces with your savings. I strive for at most 8 months emergency expenses in cash. Everything else is in stocks + real estate + crypto + metals
Thanks for the long reply. I know I’m holding too much. I’m more of a value investor and don’t trust the market. Maybe I should just buy more big tech stocks that I like
Definitely don’t trust the market. It seems funny. Semi conductor chips are the play for the future and today. Otherwise, I’d go for real estate. Try and find good cash flowing deals. That way you can start getting positive cash flow monthly
jesus thats a lot of cash on hand
I know....that’s why I said I didn’t pay attention to investment. I feel the market is about to sink and the apocalypse is almost there. Then I feel totally lost
"Market is about to sink "Wishful thinking?
It’s normal. You have a health portfolio though I think you can invest more on your cash unless you are thinking about using that as a down payment for a house
I want to buy a house somewhere but definitely not Bay Area. I have some additional assets back in my home country. Maybe Florida? I’m new to the market though and I’m not sure my partner would spend that much time with me in a vacation home. Also I’m not a home person finding it hard to persuade myself into not renting a place
"It's normal" says the guy whose company's stock went 15x...lol.
‘I have a networth of 600k in my mid 20’s, am I poor?’
No I’m not poor just saying if it’s ordinary. Feel it’s a little weird. Maybe Walmart is not that bad?
A lot off ppl in their 20’s have negative networth, to put things in perspective.
No, $600k NW at 27 is not fucking normal, especially considering you haven't paid attention to investing. I'm near the same age, and the only one of my friends with a similar/higher NW is my friend at Square, which has 15x'd since he joined.
Did u pay your student loan? Maybe that’s why
I think it's because of bitcoin. At what price did you buy those?
I’m 27f and have ~500k NW. I’m lucky I didn’t have student loans. Pretty happy with where I’m at
I’m 27 and my NW is 250. Most in 401k/IRA though :(
Yeah I’m thinking about putting more in that too
jeez are you all nuts or what. I’m 40 soon with 300k nw, moved to the US a few years ago, had 0 savings until then and have never invested in anything as 99% of others in my country (what can you do with 20k/year). still have no property and no idea when will be able to afford anything
Same time wondering those higher pay companies and those stock appreciations. They would be millionaires easily
Obviously. Your net worth should have crossed 2M by now. Clearly, you need to focus more on the money.