Here’s how much money you should aim to save at every age and exactly how you can get there - Enjoy! Add me on Instagram: GPStephan
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By 20 Year Olds:
First, go and get yourself a credit card.
Second, make sure you also open up a Roth IRA.
Third, I would aim to have 1-2 MONTHS of expenses saved up.
Fourth, get yourself invested in the markets in some way or another.
So, overall…by 20 years old, there aren’t really many NET WORTH or SAVINGS goals you should aim to hit…but, instead, it’s just about setting up a good foundation from which you can build from.
By 30 Years Olds:
First: You’ll want to have at LEAST a credit score of 750 or higher.
Second: I’d recommend you become COMPLETELY BAD-DEBT FREE by the time you’re 30.
Third, because everyone wants to know “HOW MUCH MONEY SHOULD I HAVE!!” - I kind of agree with the 1x your salary as a bit of a baseline to aim for.
And fourth - I think by 30, it’s reasonable to suggest that you aim to save at least 20% of your income every month.
By 40 Year Olds:
First, you should focus on MAXING OUT YOUR RETIREMENT ACCOUNTS EVERY YEAR.
Second, you should also look into potentially BUYING A HOUSE if this is something you’re interested in.
Third, by 40, you should know EXACTLY how much you spend every single month - and have AT LEAST 5-7X your annual spending invested.
By 50 Years Old:
First: I think having 5x your annual income saved up is a good goal - but, if you can get this closer to 7x or higher, I think that’ll put you in a much stronger position for retirement.
Second: Depending on your situation, you should be about halfway through paying off the mortgage on your primary residence.
Third: You should also have a VERY clear idea of how much you’ll need in retirement, and when you plan to retire - and that needs to be calculated, NOW.
By 60 Years Old:
First: You’ll want to aim for at least 10-12x your salary saved up.
Second, I think it’ll also be wise to have almost paid off your primary residence by now - so, if you haven’t already done this, you’re getting close.
Third: It’s usually said that this is where your earnings will have somewhat peaked - so, if you’re in the highest earning years of your life, now is the time to save as much as you possibly can with the income you have.
Fourth: If you want to, NOW is the time where you can begin withdrawing from your retirement accounts without any penalties.
And really, from there …the rest is up to you, and those are the goals that I think you should aim to hit in every decade. Obviously, this is only going to be a rough ballpark and some people may be way ahead of this or way behind this - but, that’s not important - it’s more important to realize that NOW is the best time to begin working towards these goals. It’s all about starting this as soon as you can, even if you’re behind, and then working within your means to understand what you need to do to reach your future goals.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
LIMITED TIME: Get 2 FREE STOCKS ON WEBULL when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main
JOIN THE WEEKLY MENTORSHIP - https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/
THE NEW PODCAST: https://www.youtube.com/channel/UCMSYZVlQmyG8_2MkIKzg0kw
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
Original Video by Andre Jikh: https://youtu.be/kmPmm2BTNuw
By 20 Year Olds:
First, go and get yourself a credit card.
Second, make sure you also open up a Roth IRA.
Third, I would aim to have 1-2 MONTHS of expenses saved up.
Fourth, get yourself invested in the markets in some way or another.
So, overall…by 20 years old, there aren’t really many NET WORTH or SAVINGS goals you should aim to hit…but, instead, it’s just about setting up a good foundation from which you can build from.
By 30 Years Olds:
First: You’ll want to have at LEAST a credit score of 750 or higher.
Second: I’d recommend you become COMPLETELY BAD-DEBT FREE by the time you’re 30.
Third, because everyone wants to know “HOW MUCH MONEY SHOULD I HAVE!!” - I kind of agree with the 1x your salary as a bit of a baseline to aim for.
And fourth - I think by 30, it’s reasonable to suggest that you aim to save at least 20% of your income every month.
By 40 Year Olds:
First, you should focus on MAXING OUT YOUR RETIREMENT ACCOUNTS EVERY YEAR.
Second, you should also look into potentially BUYING A HOUSE if this is something you’re interested in.
Third, by 40, you should know EXACTLY how much you spend every single month - and have AT LEAST 5-7X your annual spending invested.
By 50 Years Old:
First: I think having 5x your annual income saved up is a good goal - but, if you can get this closer to 7x or higher, I think that’ll put you in a much stronger position for retirement.
Second: Depending on your situation, you should be about halfway through paying off the mortgage on your primary residence.
Third: You should also have a VERY clear idea of how much you’ll need in retirement, and when you plan to retire - and that needs to be calculated, NOW.
By 60 Years Old:
First: You’ll want to aim for at least 10-12x your salary saved up.
Second, I think it’ll also be wise to have almost paid off your primary residence by now - so, if you haven’t already done this, you’re getting close.
Third: It’s usually said that this is where your earnings will have somewhat peaked - so, if you’re in the highest earning years of your life, now is the time to save as much as you possibly can with the income you have.
Fourth: If you want to, NOW is the time where you can begin withdrawing from your retirement accounts without any penalties.
And really, from there …the rest is up to you, and those are the goals that I think you should aim to hit in every decade. Obviously, this is only going to be a rough ballpark and some people may be way ahead of this or way behind this - but, that’s not important - it’s more important to realize that NOW is the best time to begin working towards these goals. It’s all about starting this as soon as you can, even if you’re behind, and then working within your means to understand what you need to do to reach your future goals.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
When you invest, you're buying a day you don't have to work
Lol wtf easy millionaire. Yes save but I'm 40 and 120,000 savings?
Get a credit card ?!?!?!?
Ya become a rat on a wheel living for other peoples value of yourself
I have my salary saved up at 19. This is because my parents pay all my bills, but I have also worked really hard and done really well in the 2021 bull run because I have been investing like 95 percent of my money. That's 20k
I tried this method. Hate to say but life's not that simple.
I got my house at 19 🥲 biggest mistake ever I mean now because of inflation its worth like 320k but I drive a 2015 nissan and woman my age aren't impressed by that
Right now my net worth is 36k. Age 35. I believe that’s ok? No investments though 😬
Why would i need 2m by 65 yrl old ? My house would be pay and car too. Idk how can you use 2m in 20 years ?
I’m 23 and I owe 115k…. Whoops. At least it’s a mortgage though
sadly the 30yrs old goals are not the reality for many individuals you pursue higher education (PhD, MD, DVM, etc with >$100,000 student loan debt), but still nice goals to try to have.
Watching this is making me feel really bad about my spending… I make 300k and have less than a year's salary saved.
Ok, great ideal plan. Most people will come nowhere near this though. It is the exception but smart to follow.
The dislikers are the people above the age of 65 who didn't do all these things.
Thank you so much for this video. People really need to hear this.
For 30, that 20 percent saved is in addition to having 1x of income saved, or includes that?
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How much should you have saved at 70, 80, 90, and 100? Ageism at its finest.
I appreciate your content, but I disagree with some of your points. This video is advocating to become an employe rather than entrepreneurship. My best advice is to become the person who create/invent products. This way you make +10x times, what an employee makes a year.
anyone know if the money saved he talks about, the 1x your income, is liquid cash, or 401k or something else?
See this is why at 19 I opened a RRSP and a TFSA and 10% of my monthly income in there every month starting then still till now at age 25
I don't think there is an answer to how much you should have each age, people move in life differently
Okay, yes I make my coffee at home, but we still have Starbucks and stupid people who drink it here in Montana.
I am starting learning and investing at 14 to help in future
Just turned 20 and have been stressing so hard recently just hearing that I’m in an actually decent place puts me a bit more at ease
I have a LEGO investing channel with other investing videos if anybody is interested
Good advice. I've been ahead of the game on many of these aspects due to being fortunate enough to have a financial advisor/treasurer as a parent to guide me. Not the most interesting subject in the world, dry AF, but realizing how practical learning these skills are overtime. Subscribed/"smashed/destroyed that like button"
I'm 18 years old, what are the best low risk high rewards investments for a Roth IRA! I want to get started as soon as possible but have no idea what would be good long term investments and am quite scared of losing money on bad investments.