Comments | envykitty021: Your 20s: See how your wealth measures up

envykitty021

Your 20s: See how your wealth measures up

May 23, 2006 12:01

This is a really interesting article
about us 20 somethings and money.

( Read more... )

Comments 4

ipanema_duchess May 23 2006, 16:44:35 UTC

Wow.
That was a surprising article.
Was not expecting those figures.

But on the other hand...it made me feel really good about my current postion in life! hehe ;)

envykitty021 May 23 2006, 17:20:23 UTC

I need to start doubling my savings deposits.
I def need a couple mill for retirement.

dg412 May 23 2006, 19:59:35 UTC

those numbers didn't surprise me, but they definitely opened my eyes to the fact that if i had just invested my $12K i used to start DG, i'd already be worth about $30K (assuming i kept saving at the rate i saved before). Since I started DG with that $12K, I now only have about $500 in savings, $1200 in a 401(k), and zero debt finally...i need to kick up my savings too, but i need to go to grad school or buy a house...

...at least i'm getting close to being out of my 20's :) In June my old ass will be 27....

Investment sseaman May 25 2006, 18:51:11 UTC

You can always do a ROTH IRA up to I think $4000 at any time and it's tax free interest.

If your employer has 401K you should also do that (especially if they match. Most do up to 6%) as that is also tax free and you can take it out as an interest free loan as long as you pay it back in full.

If you are in the tax bracket mentioned above there are also many other programs you can do but I don't know them.

I'm not suprised by the numbers except for the fact that they say 1/3 of 20 somethings. Most of my 20ish friends (Southsiders excluded) pulled in at least $40k.

I'd like to see the stat measured against college graduates.

Sorry for the random post - Friend of Randy/ meanjunglist(former friend?)