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Ask HN: 30+ year olds - how much have you saved so far?

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Re: Ask HN: 30+ year olds - how much have you saved so far?

#11

Post by hellowway4567 »

I'm 29 but I'll soon hit 30. I have roughly $85k.

I save all my money in normal savings account, no investing or anything related to 'value increasing'. I don't have a separate retirement account either. I feel like I am not managing my money well enough, but I also don't feel like I have a "plan" for when I'm older. My next job have a clause where they will match retirement savings up to X percentage, that's a good step I guess? Kinda lost on the whole thing.

Re: Ask HN: 30+ year olds - how much have you saved so far?

#14

Post by EADGBE »

hellowway4567 wrote: post #11

I'm 29 but I'll soon hit 30. I have roughly $85k. I save all my money in normal savings account, no investing or anything related to 'value increasing'. I don't have a separate retirement account either. I feel like I am not managing my money well enough, but I also don't feel like I have a "plan" for when I'm older. My next job have a clause where they will match retirement savings up to X percentage, that's a good…

A matching 401k is really a great asset to have when job hunting. It's a sure-fire way to quickly compound a large amount of money. It's "free money" as they say, and always worth contributing to get the maximum match.

Also, 401k's often (don't have to be, but usually) are usually pretty moderate index funds. The risk associated with them isn't always like buying Tesla before he went and made his "$420" comment. They're a good start to investing when you don't know that much about it all.

Re: Ask HN: 30+ year olds - how much have you saved so far?

#15

Post by deanmoriarty »

I’m 32, not married, and my net worth is ~$1.3M, all invested in Vanguard index funds.

Started at $0 right after college (no student debt luckily) and got there through savings and frugality and good employment options in the Bay Area.

The cost of living is insane over here, but if you are not pretentious, financially disciplined (and in my case don't want kids), you’re going to be easily saving 6 figures a year, which you probably couldn’t in other more reasonable areas.

Re: Ask HN: 30+ year olds - how much have you saved so far?

#16

Post by pilom »

31, married so all numbers are as a couple. Lived in DC for a year then moved to Denver. Started at a defense contractor then gave that up to work remotely for an ecommerce company for almost the same salary.

Net worth is about $450k, ~425k in Vanguard and $25k in checking/savings accounts. Of the Vanguard money, 2/3rds in 401k or IRA accounts and 1/3 in taxable accounts. Came out of college with $210k in debt (paid for both of us to get Bachelors and Masters).

Anyone who has questions about investing or anything, feel free to reach out. Email in profile.

Re: Ask HN: 30+ year olds - how much have you saved so far?

#17

Post by pilom »

hellowway4567 wrote: post #11

I'm 29 but I'll soon hit 30. I have roughly $85k. I save all my money in normal savings account, no investing or anything related to 'value increasing'. I don't have a separate retirement account either. I feel like I am not managing my money well enough, but I also don't feel like I have a "plan" for when I'm older. My next job have a clause where they will match retirement savings up to X percentage, that's a good…

First thing I'd say with the new job is "maxing out" your 401k is $19,000/year not whatever percentage the company will match. If you can afford to put $19,000/year away, you'll likely retire before almost everyone you know. Assuming after tax income of $60k, you should be able to retire in 25 years: https://networthify.com/calculator/earlyretirement?income=60...

Re: Ask HN: 30+ year olds - how much have you saved so far?

#18

Post by neuroticfish »

I’m 29, almost 30, and my situation won’t have changed significantly by then. My net worth is about -$90k. I feel like my salary will cap out at around $70k because I’m a mediocre developer and not very smart. Can’t get married, can’t have children, can’t travel. My girlfriend doesn’t even know how bad it is because I’m ashamed to tell her. I mostly just resort to escapism (reading, video games, etc) because the dread of not being debt free until my 40s is too much weight to bear. I don’t like programming, maybe because I’m not good at it, but it’s the only thing I can do to stay afloat. If I had no debt I’d love to go work on a farm or something.

Re: Ask HN: 30+ year olds - how much have you saved so far?

#19

Post by marketgod »

hellowway4567 wrote: post #11

I'm 29 but I'll soon hit 30. I have roughly $85k. I save all my money in normal savings account, no investing or anything related to 'value increasing'. I don't have a separate retirement account either. I feel like I am not managing my money well enough, but I also don't feel like I have a "plan" for when I'm older. My next job have a clause where they will match retirement savings up to X percentage, that's a good…

Interest rates are low right now so you aren't feeling the pain, but when the rates go up, inflation will eat your savings account. Look into a HISA account or an Index fund portfolio (higher risk/return) using Lazy Portfolio Bogle Heads is a good place to start.

Re: Ask HN: 30+ year olds - how much have you saved so far?

#20

Post by marketgod »

Jocund wrote: post #8

30 192K in Robinhood 127k Equity in my apartment 65k 401k 82k IRA 10k Savings 3k Bonds Net worth: 479K

What does $192K in Robinhood mean, do you have it in stock/shares, or just sitting there? Why Robinhood? They are kind of a risk to put your money in, with that amount you can probably call up one of the larger companies and get X free trades, free level 2 and so on for moving your funds over, also better fills on your orders. Also, they have better customer service and they aren't just figuring out what they do. Lots of horror stories on Robinhood.
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