Where were you financially when you were at 30?

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gundlached
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Re: Where were you financially when you were at 30?

Post by gundlached »

I am 31.

At 30, net worth was $120k. At 31 now at $170k. $20k of the increase was salary raise from changing jobs, which I saved entirely. Everything else was regular saving and investment return.

First $100k is the hardest. Hope I don't fall back there :sharebeer
peppers
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Re: Where were you financially when you were at 30?

Post by peppers »

At 30,

married, mortgage had 3 children and number 4 was on the way, 401k and IRA's were being funded but no clue what net worth was.

Now, early 60's, empty nesters, a year or two from retiring, comfortable, and still don't know what net worth currently is. :)
"..the cavalry ain't comin' kid, you're on your own..."
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Thrifty Femme
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Re: Where were you financially when you were at 30?

Post by Thrifty Femme »

I was married with no kids and unemployed. Our combined net worth was 149.5k. We discovered we could live on half of my husband's salary; didn't have to touch our emergency fund for the 6 months I was unemployed :happy Kids and a larger house have probably nixed living on half of one salary.
white_water
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Re: Where were you financially when you were at 30?

Post by white_water »

Married, two kids, building my own house, making low wage in 1972. Had some equity from sellng two previous houses, used that for construction of house #3, plus a mortgage.
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M_to_the_G
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Re: Where were you financially when you were at 30?

Post by M_to_the_G »

36 years old here. When I was 30, I had just joined the Foreign Service and was headed to my first overseas mission. Very exciting time, starting a new life. Financially, I was doing fine. I had grown up poor and struggled terribly in my 20’s, but by 27 I had found a good job that paid well. I took a pay cut to join the Foreign Service, but nobody in this line of work complains about the money. I had a little bit of student loan debt leftover from undergrad, but I paid it off by age 31. I also lived beneath my means. However, I was not a boglehead (not yet!) at age 30, and I did occasionally worry about personal finance because I didn’t understand it. Then I found this forum when I was 32. “When the student is ready, the master will appear,” as the old adage goes. My first forays on this forum led to some timely and poignant book recommendations, and I started reading voraciously, and the rest -- as they say -- is history.

I’m probably well on my way to my retirement goals (touch wood). My portfolio is about $400K today. I plan to retire at 50 with a pension and a nice portfolio to draw from. I have my health and my friends and my little pleasures. I have no debt, and I live comfortably and beneath my means.
"It’s basically the plot of 'Charlie and the Chocolate Factory.' If you stick around, doing nothing, while everyone around you ****s up, you’re going to win big." - John Oliver
2Birds1Stone
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Re: Where were you financially when you were at 30?

Post by 2Birds1Stone »

I'm 29 but figured I would chime in.

In a domestic partnership of nearly 6 years, my SO is 25
We both work in Sales, Me - Enterprise Software, SO - Promotional Products
My income - $100-120k/yr
SO's income - $50-60k/yr
Renting in a HCOL but below market rent ~7% of gross income
Current Portfolio size = 5.5X annual expenses
Projected Early Retirement Timeframe = 35/31 for Financial Independence, 40/36 for early retirement.

:sharebeer :moneybag
HIinvestor
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Re: Where were you financially when you were at 30?

Post by HIinvestor »

At 29, just before marrying 30 years ago, I had savings of $50K, job earning $40k+ annually, fully paid new car, no debt, excellent credit, renting nice inexpensive apartment. I had some traditional IRA savings as well, but can't remember amount.
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inmymind
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Re: Where were you financially when you were at 30?

Post by inmymind »

OP, don't worry about where you stand in relation to others, only to where you stand in relation to your personal goals. Even on a forum such as this with like-minded individuals, we all have vastly different backgrounds and situations. You're young and have already discovered this site and evaluating your situation. That alone puts you ahead of most people.
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dsmil
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Re: Where were you financially when you were at 30?

Post by dsmil »

I'm 29 which is close enough. But to the original poster, Bogleheads are not typical of the average American. Not that you'd necessarily want to be an average American, but don't get discouraged if you don't match up to the average Boglehead at 30.

Married, 1 child
$25k emergency fund (5 months)
$60k retirement, almost all in Roth
$25k student loans remaining
$295k mortgage, $340k house value
$0 consumer debt
$100k income (wife stays home)

Student loans will be gone at 30, which will free up $1,300 per month and hopefully allow us to save for our dream home.
Wife will likely go back to work by 35-40, which will get us on a path to some serious savings and less worrying about money
boglephreak
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Re: Where were you financially when you were at 30?

Post by boglephreak »

this was an interesting trip down memory lane.

at 30 (in 2010), i was five years out of law school with a stable six figure job. i had high five figure debt on student loans, but they were at 1.5% so debt for life basically. i was paying down a $400,000 mortgage (at 7/8%, first/second mortgages) on a condo i bought in 2007, which was worth $150,000 in 2009/2010. yay! i was also maxing out my 401k every year in actively managed garbage, but no other investments (other than paying down mortgage).

my much younger wife (who will be 30 next year), is a millionaire by marriage. that $400,000 condo was just reassessed at $309,000 this year, and is completely paid off and providing rental income. i still have that student loan debt at 1.5% (muahahahhaha).

moral of the story: marry older well-off people and skip the line.

=)

edit: this is tongue in cheek. my wife has a good paying job and contributes significantly to the pot. ;-)
Last edited by boglephreak on Mon Jul 11, 2016 5:53 pm, edited 1 time in total.
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Kitty Telltales
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Re: Where were you financially when you were at 30?

Post by Kitty Telltales »

That was 25 years ago. Married (first marriage), one son age 7. We had started a business 8 years before and it was doing well, although we had never taken a vacation longer than a 3 day weekend together. Second house was paid off. No investments, but had maximized IRA for at least 5 years in Merrill Lynch account, mostly mutual funds. Had cash in bank and felt like we were doing better than our peers, financially. The best accomplishment of that year was that I had gone back to college 3 years earlier and finished degree in accounting with the goal of passing CPA exam. Did that the following year. Was buying savings bonds for son's future education around that time. Paid cash from savings when tuition time came and still have those bonds paying 4% interest. Sadly, they are coming to maturity now. In hindsight, wish more was in the market, but didn't have Bogleheads to give me courage.
stoptothink
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Re: Where were you financially when you were at 30?

Post by stoptothink »

boglephreak wrote: my much younger wife (who will be 30 next year), is a millionaire by marriage. that $400,000 condo was just reassessed at $309,000 this year, and is completely paid off and providing rental income. i still have that student loan debt at 1.5% (muahahahhaha).

moral of the story: marry older well-off people and skip the line.
:sharebeer I provided this service for both my ex and current wife. Married first wife at 22, she had a networth of about -$50k thanks to student loans and a car. When we divorced, she was 27 with a DDS, zero debt, and had about $50k sitting in a savings account after having not earned a penny in the past 6yrs. Current wife had a networth about -$10k at 26 when we wed in '13, she's now worth mid 6-figures. To be fair, she's helped quite a bit as she's nearly quadrupled her income since we met and that will likely continue to climb (she probably has a higher earning potential than I).
Last edited by stoptothink on Mon Jul 11, 2016 7:00 pm, edited 1 time in total.
LateStarter1975
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Re: Where were you financially when you were at 30?

Post by LateStarter1975 »

At age 35, I had a net-worth of negative $30K, had no clue about anything finances and was living above my means (and stressed about it). Started learning a bit about finances a year later, invested my first dollar in my 401K at age 36 and joined this forum 3 years ago. I'm 41 now and have made a lot of progress. I sincerely believe I will be financially independent before age 60 and I'm aggressive working towards that.
At 30 and what you already have, you are light years ahead of so many. Congratulations for joining this forum. You have made a very wife and financial choice!
Debt is dangerous...simple is beautiful
BW1985
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Re: Where were you financially when you were at 30?

Post by BW1985 »

Almost 31 and our NW is 500k.

Found BH's at 24. :sharebeer
Chase the good life my whole life long, look back on my life and my life gone...where did I go wrong?
cjhud32
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Re: Where were you financially when you were at 30?

Post by cjhud32 »

My take:

38, Still single and enjoying it for the time being
No consumer debt
1 car, recently purchased when the other died. Rode that as long as I could, and will do the same thing with the next. People say don't buy new but if you can make it last 10-15 years like I do, I think it can be wise. $30,000 left but at 0 percent interest so no need to write the check for it.
1 rental house, $59,000 left on mortgage
Rental where current live, not very stable employment although I have been there 8 years. Like the thought of being able to pick up and move at a moments notice.
$110,000 in cash
$90,000 in Treasury Direct
$80,000 in retirement, three fund portfolio

At 30, I had no savings, literally zero. Living month to month eating cereal. Met the right people through work and was offered well paying employment. Much happier at 30 in that career. Would go back in a second if didn't feel trapped by current savings rate. Money makes things easier, but makes some things so much harder. Stay happy, there is no price on that.
selftalk
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Re: Where were you financially when you were at 30?

Post by selftalk »

I don`t remember exactly but I wish I was 30 now.
Pharmacist
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Re: Where were you financially when you were at 30?

Post by Pharmacist »

I'm not 30 yet but here's my projection:

50k in student loans
Same car I have now that is paid off but will need replaced (Either that or 20k in auto debt...)
No house
120k/year

I'll graduate at age 27 with 170k in student debt. It's a lot of money and makes me very nervous. I feel like I'll still be digging myself out of a hole while most people are building wealth.

I'm really hoping I can knock out my debt in 3-4 years but it's hard to tell if that's realistic. I may have to rent in an expensive location, I'm not sure what my exact take home pay will be after taxes, and I will pretty much certainly have to buy a new vehicle before my loans are paid. I see people who have been working for 15 years and still have student debt which makes me think that this could take a lot longer than I want.
ryman554
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Re: Where were you financially when you were at 30?

Post by ryman554 »

At 30, I was just getting out of grad school/postdoc.

Net worth was probably something like $10k or so, and that was thanks to the folks for the odd $100 here and there.

At 43, net worth is $1.5M, ~half in home equity. Still on track for "early" retirement in 23.5 years. =)

It can be done quickly, if you focus on saving.
jkmccloud
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Re: Where were you financially when you were at 30?

Post by jkmccloud »

Age 29, wife is 30

Net worth of 310k, fortunate that both of us have high incomes. Paid off all remaining student loans in the past year. Have a primary residence and rental property.

Like most others, I feel that we're doing pretty well, but have 28-30 year old friends who are closing in on 1M net worth and own 2-5+ rental properties. Also have friends that I'm confident do not save and have negative NW... It's all relative.
clutchied
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Re: Where were you financially when you were at 30?

Post by clutchied »

@ 30 Networth was about 40k.

6 years later our NW is $500k.


Our incomes have doubled over that time period and we should be doing much better than we are but we tend to spend more than we should.

We have mortgage debt from 2 rentals and a personal residence and our cash reserves are NOT what they should be. We're working to resolve that as it is currently our largest risk. Our retirement accounts are in decent shape @ $250k but they should be higher.

We've made some tradeoffs but we're on a good path now. It won't ever be fully optimal b/c my wife won't ever be fully on board. She's a shopper and loves to buy clothes... budgets are meaningless to her and any temporary cessation is followed by additional purchases later on.
B0bL0blawsLawBl0g
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Re: Where were you financially when you were at 30?

Post by B0bL0blawsLawBl0g »

When I was 30 I had a NW of NEGATIVE $25k, mainly attributable to about $150k in student loans. I had a high salary though (about $180k), and built up a nice nest egg after that. I am 34 now with a NW of about $500k or so.
ThrowinDarts
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Re: Where were you financially when you were at 30?

Post by ThrowinDarts »

I keep a spreadsheet of my investment accounts on a daily basis so I just went back and looked. At 30, my net worth was $252,000. It was all in Vanguard IRAs, a 401k and a taxable account. I was five years into owning a condo and had no equity in it due to a stale market at that time.

I'm now 35 and my net worth has increased to 4x what it was at 30 thanks to some investments. I have been extremely lucky and blessed.
cbr shadow
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Re: Where were you financially when you were at 30?

Post by cbr shadow »

Wife and I both 32
Household income: $180-$200k
Both completed college very late (age 25 for her, 26 for me) due to not being focused and mental health issues
Owe $165k on house worth $240k
Net Worth = $330k
No consumer debt or student loans
No kids

We're not doing as well as many on this forum, but I think we're doing great even though we started our careers late. We also have opted for flexibility over salary increases by taking work contracts in Australia and different states in the US, which I don't regret in the slightest.

It sounds like you're doing great!
whitneyb11
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Re: Where were you financially when you were at 30?

Post by whitneyb11 »

I am about to turn 28, my husband is turning 31 this month.

Net worth presently $225K, targeting to be around $270K by the end of the year.

A good chunk of that is home equity. I did not go by the book on home purchase, still had around $30K in student loans but bought anyway. House purchased at $195K in late 2014 is worth $260K today and doesn't look to slow down (owe $170K). We were also fortunate to be in a situation where we were both living rent-free prior to purchasing the home.

Fortunate to work for an excellent employer myself as I am going on my third year of six figure+ income. My income (125-140K) + Husband (50K) in our relatively low COL area has been very good to us.

I have $9K in student loans that I am in the process of saying goodbye to (given my fluctuating income from being in sales, I have been paying this off at $2K/mo) which is our only outstanding debt aside from a very low rated car loan (0.9%) and our home, our emergency fund fully in place, fully funding retirement accounts, we now will be starting to shift much of our ongoing cash savings into taxable investments hence me being on this website.

I am targeting and hoping we can land between $400-500K NW by the time I hit 30.

Largest thing I need to work on is our ongoing car expenses and trying to find a happy medium there. We rarely spend much outside of regular expenses (very rarely go on vacations, maybe 1X every 2-3 years and even then it is pretty modest), but we both enjoy cars and consider them a hobby. Just need to make sure I keep that in check and ensure that it will not hold us back from our long-term financial goals.
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goodenyou
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Re: Where were you financially when you were at 30?

Post by goodenyou »

$-100K net worth. All student loans for undergraduate and graduate. That was 20+ years ago. I would be $-300k-400k net worth at age 30 today at current costs of education. Very sobering.
"Ignorance more frequently begets confidence than does knowledge" | Do you know how to make a rain dance work? Dance until it rains.
Xpe
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Re: Where were you financially when you were at 30?

Post by Xpe »

30 on Thursday.

no student loans thanks to generous family.

have about 150k in retirement + emergency fund that I saved/earned "myself" (obviously would not be at this level if family had not paid for my education).

nice-ish car paid off that was < 20k new.

six-figure inheritence that I refuse to touch until retirement.

no debt, but saving towards a down payment.
soulrider
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Re: Where were you financially when you were at 30?

Post by soulrider »

Just turned 30, wife is 34.
Combined income is around 130K.
Total debt (student loan, car) is 50k
One car paid off, one car half paid
Total cash available (emergency fund) 30K
Retirement accounts: 30K
Renters
Total net worth 20K
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Edie
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Re: Where were you financially when you were at 30?

Post by Edie »

At 30 I was recovering from a divorce the prior year (had been a stay at home mom for 10 years), had 3 children ages 6 to 11, and was in school, supporting our girl tribe via a combination of student loans, grants, scholarships and two part-time jobs. Net worth was decidedly negative. ~8 years later, I've graduated, remarried, paid off student loans (just a couple months shy of 5 years out from graduation), and net worth is around 200k. Not as much as I would like it to be, but still incredibly proud of how far I've made it thus far.
Nowizard
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Re: Where were you financially when you were at 30?

Post by Nowizard »

At age 30, I was single, had just bought a 37K first house and was making $22,000 annually with a house note of $260 monthly for a house that recently sold for $175,000 (Not by me but just happened to see it in the newspaper listings). Married at 33, had two children and a wife who worked in education, as did I at the time. We both worked until retirement at age 65, paid for our children's education, including graduate school, have no debt other than a chosen mortgage we could pay off, have income from SS and pension in six figure range and a significant portfolio. This occurred due to saving consistently, blind investment luck early on and consistent returns with what is primarily an index fund portfolio over the last 15 years. Neither ever made a six figure salary. Power of compounding is the key along with prudent investing. Best of luck. You found a great place for investment advice with this site.

Tim
abonder
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Re: Where were you financially when you were at 30?

Post by abonder »

At 30 I was recovering from a divorce the prior year (had been a stay at home mom for 10 years), had 3 children ages 6 to 11, and was in school, supporting our girl tribe via a combination of student loans, grants, scholarships and two part-time jobs. Net worth was decidedly negative. ~8 years later, I've graduated, remarried, paid off student loans (just a couple months shy of 5 years out from graduation), and net worth is around 200k. Not as much as I would like it to be, but still incredibly proud of how far I've made it thus far.
Sometimes it's nice to be reminded that not everyone was a dual ivy-league investment banker family with 7 digits of net worth at 30. Edie - your journey is quite impressive.

Add me to the negative six digits of net worth at 30 camp.
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Kilroy
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Re: Where were you financially when you were at 30?

Post by Kilroy »

I'll be 30 next month so this is a bit early but my wife is already 30 so what the heck.

Graduated in '08 with only 15k in loans thanks to my parents; which was paid off by end of that year, if not early '09.

Married in 2012, first child in 2013 and second one born beginning of this year. Right now we're just shy of 600k net worth, 210k in retirement accounts another 280k in taxable and just under 100k cash. No mortgage for now but planning to purchase our first house in the next few years.
mule
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Re: Where were you financially when you were at 30?

Post by mule »

I'm 59 now at 30 I had built my own home and was paid for by 30. I'm still in this home and most likely die in it and I built it for 30K that included everything. I also at that time had about 150K plus what my home was worth and no debt. My wage was not that good but I always worked everyday for 35 years at the same job.
ponyboy
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Re: Where were you financially when you were at 30?

Post by ponyboy »

Glad to see im not the only one doing well in their 30's. Congrats to all.
cast128
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Re: Where were you financially when you were at 30?

Post by cast128 »

I turn 30 this year and just graduated residency this year.

I currently have a net worth of negative $58,000 with $83,000 in student loans (down from $110k at the start of residency). If all goes to plan, by December I should have a positive net worth for the first time since I started medical school. :happy
dziuniek
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Re: Where were you financially when you were at 30?

Post by dziuniek »

Age 30(barely)
DW is 29.
1 kiddo (9months old).

Combined Gross is $178k

Networth is about $75k.
Investments are approx. $105k.

Darn students loans pulling us down. (halfway there though!)
cusetownusa
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Re: Where were you financially when you were at 30?

Post by cusetownusa »

abonder wrote:
At 30 I was recovering from a divorce the prior year (had been a stay at home mom for 10 years), had 3 children ages 6 to 11, and was in school, supporting our girl tribe via a combination of student loans, grants, scholarships and two part-time jobs. Net worth was decidedly negative. ~8 years later, I've graduated, remarried, paid off student loans (just a couple months shy of 5 years out from graduation), and net worth is around 200k. Not as much as I would like it to be, but still incredibly proud of how far I've made it thus far.
Sometimes it's nice to be reminded that not everyone was a dual ivy-league investment banker family with 7 digits of net worth at 30. Edie - your journey is quite impressive.

Add me to the negative six digits of net worth at 30 camp.
haha...need those reminders around here. I didn't track my net worth back then but I would be surprised if it wasn't negative (student loans).
2tall4economy
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Re: Where were you financially when you were at 30?

Post by 2tall4economy »

That was ten years ago almost to the day for me :) talk about 30 being a milestone, try 40 :)

at 30:
single, dumped my deadweight of the last 4 years recently. Was using match.com to meet the opposite sex. Found my wife at work though.
Fresh out of MBA school, with $79k of student loans, $67k of car loans, and a $240k mortgage on a duplex worth $250k
Took a new job at megacorp with my MBA. New job paid pretty good, $90k 10 years ago, but was a $30k pay cut. The move was made with my eyes on the long term.
Net worth negative $22k. Started tracking my finances that year (the concept of a "me" balance sheet was oddly foreign until I got my MBA).

The next year I met my wife, who owned a condo with a recently high LTV refi from a recent divorce. A few months later, the housing market collapsed and we were behind some $300k or so in equity. Seeing as how I was netting something like $15k after 401k and whatnot, as was my girlfriend, we were looking at a 10 year climb out of the hole, each. After getting serious with her a year later, thankfully (really) my company relocated me and bought out my house at the price I paid for it. They relocated my then girlfriend as well and did the same for her - they really didn't have to do that. They bought my loyalty for 10 years with that gesture.

Fast forward a couple years and we went overseas together and lived in Asia for 6 years, which enabled me to sell my cars and rent out the home my wife and I purchased together. While overseas I paid off the house and really got the retirement counts padded.

Then I got to the point where I was rapidly approaching "enough money", (I had about $1M in retirement accounts and $1M in rental property equity), and had 1 young son and a daughter on the way, all three of which had a way of taking all the hardships I lived through daily being overseas and amplified them 1000x. Management didn't react quickly enough to get me home and into a good job so I started returning headhunter calls.

Landed back in the USA in New York in a great company and great family raising location. Finally was able to enjoy my pent up consumerism a bit and indulge in my real estate and automobile desires a bit, while continuing to shepard my 401k and rental properties.

The purchases set me back about 5 years, but that's totally fine; I don't want to be the richest guy in the graveyard, and I don't want to retire at 40 either. I actually rather enjoy what I do most days.

Anyway, longwinded way of saying, I didn't really take my first steps until 30. You'll be fine since you've got the itch.
You can do anything you want in life. The rub is that there are consequences.
Independent George
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Re: Where were you financially when you were at 30?

Post by Independent George »

I was in great shape at age 30. Then I got a mortgage at age 31, which is not terrible, but still decidedly unwise.
Texanbybirth
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Re: Where were you financially when you were at 30?

Post by Texanbybirth »

Wow, it's already been a year since I turned 30.

Married, a brand new mortgage, a six-month old girl, and maybe mid-five figures net worth with most of it tied up in the house. My total comp is ~$150k, and my wife is a SAHM. With my spouse and baby life was fantastic, and it continues to be that way. We're looking forward to welcoming number 2 in September, who will probably eat up a little chunk of that net worth. :D
“The strong cannot be brave. Only the weak can be brave; and yet again, in practice, only those who can be brave can be trusted, in time of doubt, to be strong.“ - GK Chesterton
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blaugranamd
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Re: Where were you financially when you were at 30?

Post by blaugranamd »

30 self, 27 wife

$141k household income
No debt
Mortgage $173k of $183k home
Two paid off cars and one paid off motorcycle
$20k cash
$62k between rIRAs and rTSPs

Probably should have started sooner based on the responses here, but I enjoyed the hell out of my 20s, but oh well. :sharebeer
-- Don't mistake more funds for more diversity: Total Int'l + Total Market = 7k to 10k stocks -- | -- Market return does NOT = average nor 50th percentile, rather 80-90th percentile long term ---
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beyou
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Re: Where were you financially when you were at 30?

Post by beyou »

Now 50+ but back then, had just bought first single family home (moved from owned apartment).
Had just taken my first serious management job in my career, starting to make good money
and save for the first time (since my student loans had been paid off by then, and was at the point
I could buy all but my house for cash).

Stuck to the LBYM mantra to be able to continue to save until now.
Prepared for kid's college and retirement now, two decades later.
fpr4
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Joined: Mon Jun 13, 2016 8:47 pm

Re: Where were you financially when you were at 30?

Post by fpr4 »

At 30, I would guess that my net worth was roughly negative $40k, due to student loan debt, a small credit card balance, a car payment and no real assets, other than minimal equity in our house (purchased with 3% down) and a $3k rollover from a 403b to an IRA. Now, 3 years later I am about to cross over into a positive net worth (some would find that depressing). I actually crossed it briefly until I incurred roughly $4k in medical bills.

I was making around $40k. Wife had just started back working (she makes roughly $25k for 30 hours a week as a preschool teacher).

Mortgage: $98k at ~$105k value
Student loans: $19k
CC debt: $7k
Car debt: $14k
Medical debt: $10k (after this was paid down to $4.5k, incurred another $4.5k since april)
IRA: $3k

Our savings rate (starting next month, since I have almost culled the medical debt) will be $500 a month while paying $673 towards CC debt to knock it out by tax time. After the CC is paid by march, should free up enough for us to both max out IRA's while still saving $500 a month. At that point, our only debt will be about $5k on a 2% car loan and $14k in student loans. These will be paid off concurrently with saving and retirement contributions. I feel we are to far behind to suspend saving any longer while paying off low interest debt.

I limited our earning potential by not getting my arch license sooner. I felt like I kept needing experience or wanted to change jobs. I finally buckled down and passed all 7 exams on first try over the span of a year. Immediately after I finished the tests, I was hit with a treatable disease that basically debilitated me for 4 months until I was able to get a diagnosis and treatment. Now I'm ready to go. I guess I'll be one of the study cases on if you can go from virtually no savings at 30 to pushing everything you've got and hopefully becoming a multi millionaire.

We started early with kids (24) and my wife stayed at home for 5 years. These may have (probably) contributed to our financial delays, but I wouldn't take it back for the world.
fpr4
Posts: 190
Joined: Mon Jun 13, 2016 8:47 pm

Re: Where were you financially when you were at 30?

Post by fpr4 »

moneybags wrote:I'm almost 30, my spouse is 35. Between the two of us:
Income: 230K
Debt: 14K car loan
Retirement Savings: 98K
Cash/Emergency Fund: 12K

More important though I think, we're currently saving $5K+/month (~26% of gross income).

No kids yet but plan to have 1 in a year or two. Goal is to be financially independent in 25 years, wish us luck!
You could be FI in 10 years if you lived on a "modest" $100k.
Gooseadoose
Posts: 20
Joined: Thu Jun 02, 2016 2:11 pm

Re: Where were you financially when you were at 30?

Post by Gooseadoose »

Turned 31 recently. Married with 2 kids under 2, living in small house that i bought when i was 21. Owe 80k on 130k value, land in the country owe 50k on 80k value, pile of atvs, guns, tools, camper, and a classic car that i paid cash for. Wife drives a 12 year old suv with 222000 miles and loves it. Right under 100k in retirement savings. Moving to the land at some point in the next year while renting out city house so that my kids can grow up where the green grass grows. I feel like we live a life of super fancy abundance though we are very frugal. Plans to cashflow house and shop before we turn 40 then coast to 100
CuseHokie
Posts: 16
Joined: Tue May 03, 2016 11:03 am

Re: Where were you financially when you were at 30?

Post by CuseHokie »

At 30, I was at about 380k net worth. I owned my own condo, was in a 15 year mortgage, owing less than 150k and it was probably worth $230k at that time.

Now at 33 (wife 36), I've been married for a year and we look to be breaking $750k net worth this quarter.

House is worth $730k, have a good $300k equity.

Approx $330k in retirement accounts (almost 300k is mine). She's a teacher and she'll have 2 different pensions paying out (she contributes to both) so in a way we have a lot of unrealized money there.

One big achievement is I was maxing out my 401k before I was 30. I was also able to contribute to my roth (partially) until full phase out.

Today, our combined income (counting my commissions and RSUs) will put is north of $275k.

I definitely think we're doing well but with no children, I have my concerns when those costs come... it'll probably just mean saving a lot of my extra bonuses.

We just moved into our house back in December (after having a wedding in 2015 with a glorious honeymoon in Hawaii) so we've been burning a lot of cash but hopefully things stabilize in the next 6-12 months. :)
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MossySF
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Re: Where were you financially when you were at 30?

Post by MossySF »

At age 30, I was 3 years into starting a business (with a few partners) and had a tiny positive net worth after a few years of clawing away credit card debt. Working on a new business -- even though we didn't have much revenues -- was still a good thing because I spent 14-16 hours working and hence had no time to spend any money.
ddurrett896
Posts: 1368
Joined: Wed Nov 05, 2014 3:23 pm

Re: Where were you financially when you were at 30?

Post by ddurrett896 »

30 now, Wife 33

Home Equity: $180,000
Condo Equity: $25,000
401K/Roth IRA Combined: $142,000

Total Net Worth: $347,000
ugaDAWGS09
Posts: 431
Joined: Wed May 15, 2013 4:34 pm

Re: Where were you financially when you were at 30?

Post by ugaDAWGS09 »

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Scamp
Posts: 92
Joined: Tue Jul 09, 2013 12:48 pm
Location: Boulder, CO

Re: Where were you financially when you were at 30?

Post by Scamp »

Single, Colorado ski bum with a negative networth.
Agni
Posts: 24
Joined: Sat Feb 21, 2015 3:31 pm

Re: Where were you financially when you were at 30?

Post by Agni »

Wow.. some of these numbers are really impressive..Great going! My net worth when I was 30 (2004) was around -$50K. I had just finished my MBA and wife started her MS. To top that I bought a house in 2005 which kept my net worth negative for probably an extra year or two. With the starts you guys have FI should come early!
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