Savings

May 25, 2018 19 Comments

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

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TOP 19 Comments
  • Oracle
    MarkHurd

    Go to company page Oracle

    MarkHurd
    You are doing way better than most peers, even among techies in the valley.
    May 25, 2018 0
  • IBM / Eng
    Zxcvluwj

    Go to company page IBM Eng

    Zxcvluwj
    How did you manage to save so much? And do you have a mortgage on the house? Any debt?
    May 25, 2018 2
    • OP
      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
      May 25, 2018
    • Amazon
      നെട്ടൂരാൻ

      Go to company page Amazon

      നെട്ടൂരാൻ
      How are you able to buy clothes for just $100?!!! Teach me master.
      May 26, 2018
  • 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.
    May 25, 2018 0
  • Oracle
    MarkHurd

    Go to company page Oracle

    MarkHurd
    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.
    May 25, 2018 1
  • 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.
    May 25, 2018 2