Trying to get a benchmark and understand how my savings stack up for others my age. 35 years old. Been working in tech for 6 years (started my tech career later than most) in marketing. Would love to hear from others in the age range 30-40. Thank you Total investments/cash including 401k: $460k Also own a house ~1.4MM (zillow) that I purchased in 2014 for 600k
How did you manage to save so much? And do you have a mortgage on the house? Any debt?
I tried to make saving a game. One thing that really helped me was to write every dime i spent during a 30 day period down in a notebook - an old school notebook (somehow it resonated more as opposed to tracking in some spreadsheet). I did this when I was 25 and realized i was spending money where I didn’t need to. Really helped me tighten up my spending habits. Still drive the same truck i’ve had since 2004 (230k miles) and I spend about $100 a year on clothes lol. Yes, mortgage on the house, still owe about 350k
How are you able to buy clothes for just $100?!!! Teach me master.
So you have something like 1.5MM net net assuming you still owe on a mortgage. Sounds pretty good. I am 30, have 0.75MM in cash/investments, no house.
No debt on house?
Sorry, yes still owe on the house (about 350k)
Congrats OP, good job. 10 years ago I was at your current age, and that was the 2008 crash. I was watching my 401K gradually dropped to 201K. Luckily (or by laziness) I did not bailout.
Awesome! I bet you’re not regretting that decision :)
Getting a comparison to others can be helpful, but in the end it's not a pissing contest. We each have to be comfortable with what we save and feel okay for the future. For what it's worth, I'm about your age, been in tech since college. Have $850k in cash + investments including 401k, $300k in equity in an investment property, and $400k in equity on our primary residence. Also have a few kids.
This is decent for past 10. But future 10 years folks would have a lot more s new grads make a shit ton more than what they had
I am 32 but have only been working for about two years (too many years in school). I am at ~300k, no property.
I'm 33 - 850k in brokerage accounts, 550k in retirement accounts between my wife and I, and we have about 300k in the house. I work on the west coast but live in Florida so we are able to save a lot due to lower cost of living and avoiding luxuries like expensive cars (we have a 2010 and 2011 both Buicks that have been paid off for some time.)
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You are doing way better than most peers, even among techies in the valley.