[USER]

Anyone know what an average “good” standing is when it comes to how much money a 35 year old should have by now?

I’m curious to know what people think about savings benchmarks for someone in their mid-30s. Specifically, what do you consider a reasonable amount of savings for a 35-year-old to have accumulated?

This could include retirement savings, emergency funds, or other long-term financial goals.

I understand that the “right” amount can vary depending on individual circumstances, such as income, lifestyle, and financial goals.

But in general, how much do you think someone at this stage in life should have saved to feel financially secure or on track for the future?

It would be helpful to hear different perspectives based on various life situations!

[Lúa]

Roughly around 150k when I was 35. And I FIRE’d when I was 42

[Andrea]

I usually go by net worth. Having savings an investments is great but net worth is the real magic number.

You can have $50k in savings and yet owe $150k, making your networth -$100k. At 35, the average networth is an average $300-$500k.

If you’re looking to see if you have enough to retire, well then that’s a personal number that you’ll need to work backward from.

[Steve]

I’d say for all forms of investments a good goal would be $1,000,000

[Brad]

The Millionaire Next Door says take your salary x your age, then divide by ten as a rule of thumb.

[Ryan]

Depends
At 35 id want to be closing in on 1mm
At, 45 2 to 2.5

All Depends on what you envision retirement to look like. And what you want to do

[Elizabeth]

Minimum 0 debt, 6 months salary saved, plus 17 years x10% of your salary imo.

[Michael]

Fidelity recommends saving two times your salary by age 35.
By that measure, many Americans are falling way behind.

The median weekly earnings for full-time workers ages 25 to 34 were $1,056 a week during the first quarter of 2024, according to the U.S.

Bureau of Labor Statistics (BLS). That translates into $54,912 a year. If you earn the median, then you should have nearly $110,000.

Depending on data source the average American at 35 is around 25k. Or more simply put, not enough.

[Ashley]

34F, I had 8 years of higher education and have an insane amount of student loan debt.

I’m a high earner but just now reached $0 net worth due to student loan debt.

I’m still on track to retire around 48-52 years old though!

[Monique]

Everyone’s standards and situations are different. Use math based on your own needs and goals.

People are divorced, kids, no kids, HCOL, LCOL, FatFire, LeanFire, CoastFire, FI, want to retire in 40s, 50s, 60s, and so many other things.

Like most of this, math answers your question.

[Fewee]

Thats subjective to your spending habits. Some say 2 times your salary. some say 4 times your salary. Depends on when you want to retire. Too many variables.

But the more you save when you are younger, the more you can benefit from compounding interest so I’d say SAVE, SAVE, SAVE!!

We saved like crazy for the first 15-20 years of marriage and then slowed down and relaxed after that.

[Chet]

I mean it’s kind of all relative based on debt, life goals, when you started out. If you have 15k in the bank you’re probably doing better than most.

And then there’s others that have probably retired by that age…

[Aaron]

I’d suggest you work backwards from your fire number to see if you are on pace. That’s what matters if you are on track to hit it by the time you want to leave your job.

For instance I wanted 8500 a month real estate income

by 30 with a stretch goal of by age 27. So, I measured my progress accordingly to that barometer.

You have to set your own thresholds to measure your success against.

[Author]

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