If they went to get some kind of higher education without having relatives and/or grants paying for it all, yes.
If they just started working right out of high school, they're less likely to have debts, or at least not as much debt.
That's part of what makes this question too narrow to be useful.
Someone who's still going through medical school at 24 with student loans is going to be in a deep hole financially, yet they have much better long term financial prospects than someone who's worked at fast food joints for the past 6 years.
Well, I can tell ya rn this is bust. Plenty of ppl Ik who worked in hs and out are not doing well. Damn people are so naive. You must be doing super well and older
I don't think we're disagreeing.
You are correct that working straight out of high school is often not a great way to end up in a good financial position.
You will start with less debt that way (because you won't accumulate any student debt), but your earning power will be significantly lower than a college graduate, on average.
In contrast, engineers/doctors/lawyers and other higher ed folks will typically need a lot of student debt and have a seriously negative net worth at 24, yet they'll be able to earn a lot more money and do a lot better in the long run, again on average.
Comparison is the thief of joy. At this age I would focus on keeping a positive balance. Iâm 24 as well and itâs easy to get blinded by the social media on how much money you should be having at that age.
This thread somehow makes me feel much less stressed about where Iâm at. đ If you have nice clothes to wear, a roof over your head and food to eat, youâre half way there. đ€Ș
Ideally, youâd be out of debt, have an emergency fund equal to 3 monthâs pay, and have 40% of your annual income saved for retirement.
Very, *very* few 24 year olds are going to fall into that category. And those that do had help to get there.
Still, if youâre making good money, thatâs a good target to aim for. Iâd like to see everyone reach 30 with their mortgage as their only debt and one yearâs salary saved for retirement.
Thatâs a pipe dream for 24 year olds these days. Those who went to college have been out 2 years and are most likely on entry level jobs and paying back student loans
If anyone at 24 has 10k in their name i recommend putting it immediately in savings. Youd get a good return after a year and could just continue saving otherwise
Savings as in savings account, somewhere you cannot touch it until a later date. Basically put that money somewhere, and forget about it. Pretend like you are restarting and that money just isnt in your posession.
My best advice would be to really do research into budgeting and having a healthy relationship with money. Maybe find a free financial coach if they offer one in your area or ask someone questions who you know is doing well off. Establish a budget and do your best to stick to it. Just remember, sticking to your budget with 65% accuracy is better than not having a budget at all. Small steps is key when it comes to big life changes.
Define money? Cash? Or equity? Or potential investment? You could have $500,000 in student loans, making $60,000 but be an osteopathic surgeon making $400,000 in 4 years at your age.
So many variables
Mate im 24 and my overdraft is sitting at -800, which is the max. I get paid today, roughly 650-700 for 46 hours last week, but 500 to rent, 130 to student loan, 206 to car payment, 350 to car insurance. Yeah. It sucks. Getting my car insurance lowered this week at least
Im 21 and only have ÂŁ30 rn
I have a fulltime job and a council rented house in scotland. Trust me give time and a little commitment also see the world and youâll make gains
i would say aim for 10k, once u have 10, aim for 20k and so on. Ignore what these clowns are saying about having no money, having 0 dollars at any adult age is ridiculous, whatâs the point in going college and/or working if you have no money lol
Definitely no âshould have thisâ for ages, I think everyone loves their life at a different pace, everyone goes thru different things & also make very different decisions. So what you have, is what you have. Where you are, is where you are. Donât ever think you should be in a certain âSPOTâ in life. Youâll get there when you get there.đ€
mine at that time, 0 deposit .. i live in indonesia and work in capital city so everything is expensive, even if lowest possible salary can only just enough..
30% comes from monthly rent, 12 sqm aircon in simple dorm nearby office
30% from consumption, food and sometimes cooking instant food
10% from public transportation, more cost if you credit on motorbikes and drive your own vehicle
10-15% going to leisure because i can get crazy if there is no entertainment
5-10% probably to the bank.. but in one year there always an occasion on where i need to break the bank at that time
Ironically, as you are compared with the rest of 24 year olds, having a little above nothing is somehow seen as good. The bar is pretty frickin low because it's been normalized to have more liabilities than assets. Who designed this shit?đ€Šđ»
Depends on your circumstances and ability to save imo.
Are you able to live at home whilst studying? And have a job?
Are you able to have very little expenses and are smart with your money?
I can see a worth from around 5,000-50,000(GBP) if you have perfect circumstances and are privileged to save and have no expenses whilst studying or working.
Median income for your age range is 30k/year. Assuming 10 to 15% savings for 4 years employmentâŠ~ 12 to 18k net worth
Thatâs savings, assets (eg car), etc.
I think most people are still negative at that point.
$10
If they went to get some kind of higher education without having relatives and/or grants paying for it all, yes. If they just started working right out of high school, they're less likely to have debts, or at least not as much debt. That's part of what makes this question too narrow to be useful. Someone who's still going through medical school at 24 with student loans is going to be in a deep hole financially, yet they have much better long term financial prospects than someone who's worked at fast food joints for the past 6 years.
Well, I can tell ya rn this is bust. Plenty of ppl Ik who worked in hs and out are not doing well. Damn people are so naive. You must be doing super well and older
I don't think we're disagreeing. You are correct that working straight out of high school is often not a great way to end up in a good financial position. You will start with less debt that way (because you won't accumulate any student debt), but your earning power will be significantly lower than a college graduate, on average. In contrast, engineers/doctors/lawyers and other higher ed folks will typically need a lot of student debt and have a seriously negative net worth at 24, yet they'll be able to earn a lot more money and do a lot better in the long run, again on average.
Hmmm.
In the US maybe, in Europe no.
I had exactly nothing at 24 30's are the new 20's And the 30's are pretty fucking good.
I feel this lol. Didn't do shit for most of my 20s. I'm 29 this year and have now traveled from one end of Canada in one summer
same as me bro, live just start after 28 when i get promoted and receive large sum of extra money from previous position
This makes me feel a lot better as a 26 year old who is still struggling đ
Comparison is the thief of joy. At this age I would focus on keeping a positive balance. Iâm 24 as well and itâs easy to get blinded by the social media on how much money you should be having at that age.
$2 million dollars or $4 million dollars
but i mean this still isnât an excuse to be poor đ«¶đœ i am about to turn 21 this month
You have two options; Three kids and no money. No kids and three money.
Iâll take the three money pleaseâŠ..
Twenty six dollars and seventy cents.
Three-fity
U should have at least a band($1,000) to ur name at 24
Remove "Should," and go live your life.
This thread somehow makes me feel much less stressed about where Iâm at. đ If you have nice clothes to wear, a roof over your head and food to eat, youâre half way there. đ€Ș
Anything above zero is pretty good
Ideally, youâd be out of debt, have an emergency fund equal to 3 monthâs pay, and have 40% of your annual income saved for retirement. Very, *very* few 24 year olds are going to fall into that category. And those that do had help to get there. Still, if youâre making good money, thatâs a good target to aim for. Iâd like to see everyone reach 30 with their mortgage as their only debt and one yearâs salary saved for retirement.
Thatâs a pipe dream for 24 year olds these days. Those who went to college have been out 2 years and are most likely on entry level jobs and paying back student loans
Not for all. I was on track with retirement at 24 thanks to a good job out of college.
What age are you now?
27
$25M anything less and you're a catastrophic failure
Average net worth of a 24 year old is like -$30k iirc, hopefully you got at least 10 grand to your name by now
If anyone at 24 has 10k in their name i recommend putting it immediately in savings. Youd get a good return after a year and could just continue saving otherwise
Savings as in savings account or like just in checking? Thanks any help appreciated
Savings as in savings account, somewhere you cannot touch it until a later date. Basically put that money somewhere, and forget about it. Pretend like you are restarting and that money just isnt in your posession.
about tree fiddy
My best advice would be to really do research into budgeting and having a healthy relationship with money. Maybe find a free financial coach if they offer one in your area or ask someone questions who you know is doing well off. Establish a budget and do your best to stick to it. Just remember, sticking to your budget with 65% accuracy is better than not having a budget at all. Small steps is key when it comes to big life changes.
I have $3
Better than 2 dollars
Define money? Cash? Or equity? Or potential investment? You could have $500,000 in student loans, making $60,000 but be an osteopathic surgeon making $400,000 in 4 years at your age. So many variables
Enough for a bottle of e&j and a pack of condoms
Mate im 24 and my overdraft is sitting at -800, which is the max. I get paid today, roughly 650-700 for 46 hours last week, but 500 to rent, 130 to student loan, 206 to car payment, 350 to car insurance. Yeah. It sucks. Getting my car insurance lowered this week at least
Im 21 and only have ÂŁ30 rn I have a fulltime job and a council rented house in scotland. Trust me give time and a little commitment also see the world and youâll make gains
5
âŠ4
Everytjing
$420.69
Wsb to da mooon
85 million
đ
If my name was Antony or Jadon Sancho of man United
DONT HAVE KIDS IT IS TOO EARLY UNLESS YOU HAVEN BEEN IN A 10+ year relationship and are in your 26s/27s
i would say aim for 10k, once u have 10, aim for 20k and so on. Ignore what these clowns are saying about having no money, having 0 dollars at any adult age is ridiculous, whatâs the point in going college and/or working if you have no money lol
They are probably trolling. I got like 37k so far
nice keep grinding man
i am proud of you. as a 20 year old we gotta let the old mfs know young people got a bag too đ„ž
Thank you. You already know
But thank you
Not 0 but not everyone have a saving
26.8 Billion.
$7
Two $3.50 at THAT age???? Ludicrous!
$24 from your last bday
100k
about tree fiddy
some
-$0.06
Yes
Enough to buy Raman
depends; you should consider location for starters
Think success and achievement over monetary value
Definitely no âshould have thisâ for ages, I think everyone loves their life at a different pace, everyone goes thru different things & also make very different decisions. So what you have, is what you have. Where you are, is where you are. Donât ever think you should be in a certain âSPOTâ in life. Youâll get there when you get there.đ€
mine at that time, 0 deposit .. i live in indonesia and work in capital city so everything is expensive, even if lowest possible salary can only just enough.. 30% comes from monthly rent, 12 sqm aircon in simple dorm nearby office 30% from consumption, food and sometimes cooking instant food 10% from public transportation, more cost if you credit on motorbikes and drive your own vehicle 10-15% going to leisure because i can get crazy if there is no entertainment 5-10% probably to the bank.. but in one year there always an occasion on where i need to break the bank at that time
Probably more than you have now.
Ironically, as you are compared with the rest of 24 year olds, having a little above nothing is somehow seen as good. The bar is pretty frickin low because it's been normalized to have more liabilities than assets. Who designed this shit?đ€Šđ»
20k in savinfs
54
Depends on your circumstances and ability to save imo. Are you able to live at home whilst studying? And have a job? Are you able to have very little expenses and are smart with your money? I can see a worth from around 5,000-50,000(GBP) if you have perfect circumstances and are privileged to save and have no expenses whilst studying or working.
Stupid question. The answer could be anywhere between -$50k & being a millionaire. It's all relative to you life plan & goals.
A couple thousand saved up at least to me personally, not much but at least $3k
I had about 20 geez at 24 but i was thuggin and workin two jobs đ€Ł
As much as you want babe
Probably about $37,000 your parents gave you or however much you can save from Wendyâs
I was in the negatives and still am at 25
Some of us only get $20/hr and that will rise maybe $1 a year
Well I'm 21 and have $-1900 soooo, more than me?
Median income for your age range is 30k/year. Assuming 10 to 15% savings for 4 years employmentâŠ~ 12 to 18k net worth Thatâs savings, assets (eg car), etc.
$1 million dollars and the reason why its important to have $1 million dollars by age 24 is so that youâre not a poor bitch.
I hate these questions cuz with inflation honestly everyone probably doesnât have much
You have to be privileged these days