According to retirement experts, by age 35, you should have twice your salary saved

[itsyoung!!]

"1/3rd of 30 year olds now own a house"

not in California..

if I went through my thousands of contacts in my list, and picked out the hundreds in their 30's or 28/29 heading into 30, I can probably count less than 5? 10? that OWN a house

I follow near 4000 people on instagram, all local bay area and all 25-35 with very few exceptions

I might see a "we got the keys to our house!" post once a month, if that..

new houses in the outer skirts of SF START at $500,000.

START

I havnt seen a newly built house in the bay area (any part) for less than $500,000 since 2014 or so.

all those houses built in 2013/2014? Still for sale signs on them only few people moved in and those are people who dont mind commuting 1-2 hours a day to work

all the new apartments in SF being built? all $800+k

APARTMENTS

this article is complete bull shyt.. dude is 29 years old saying hes been lucky to save almost all his money for 9 years (20 years old). In LA? dude been living off someone for sure

 

[Gold]

very possible
ive saved almost 13k this calendar year alone

 

[Paisley Darts]

Even though the article comes off like its easy (which its not), it is definitely attainable. But you have to use investments such as mutual funds and 401ks....things that are going to work and make money for you. If you are putting all your money in a regular savings account you are truly going to have to bust your ass to do it.

 

[BmoreGorilla]

Ill see yall at the check cashing spot well into my 80s

 

[TLR Is Mental Poison]

. i wish these people that live off of generational wealth would stop talking about finances altogether. Most of these people have wealth saved from their grandparents, they are not saving from their income.

I do not have any generational wealth, and I have about 1 year's salary in my retirement accounts at age 34. Stop comparing yourself to other people as a way to make excuses... generational wealth or not you have to save for retirement

 

[8WON6]

I do not have any generational wealth, and I have about 1 year's salary in my retirement accounts at age 34. Stop comparing yourself to other people as a way to make excuses... generational wealth or not you have to save for retirement

consider yourself lucky. the majority of black america don't have it like that. Stop going around thinking you have a normal existence compared to other blacks. Most people are living off of their income, they are not making enough to save twice their salary by 35. It's cool you made it, but in reality blacks have been kept away from wealth. Just because you "made it" don't mean you should go around scolding black people and calling folks lazy. One thing i can't stand is people acting like black people are just lazy or spending wrong. The majority of black people are just living off their income, they don't have generational wealth to be that foundation that keeps gathering interest in the background.

But yeah, miss me with that "stop making excuses" bullshyt. You got lucky, congrats, in reality black people aren't allowed to stack wealth.

 

[MasterOfAllHeSurveyz]

consider yourself lucky. the majority of black america don't have it like that. Stop going around thinking you have a normal existence compared to other blacks. Most people are living off of their income, they are not making enough to save twice their salary by 35. It's cool you made it, but in reality blacks have been kept away from wealth. Just because you "made it" don't mean you should go around scolding black people and calling folks lazy. One thing i can't stand is people acting like black people are just lazy or spending wrong. The majority of black people are just living off their income, they don't have generational wealth to be that foundation that keeps gathering interest in the background.

But yeah, miss me with that "stop making excuses" bullshyt. You got lucky, congrats, in reality black people aren't allowed to stack wealth.

Do you smoke or drink?

 

[EndDomination]

only CACs can managed that

Nah, there certainly are Black, Latino, and Asian people that are and have managed to save twice their salary by a certain point.
If you're in a moderate-to-high paid field, there aren't too many excuses outside of student loans and medical bills: corporate lawyer, doctors, dentists, bankers, fund-managers, accountants, consultants, engineers, software developers, registered nurses, and middle-level bureaucrats should be able to do that.
Depending on when your career started (I'll say 24 for the non-graduate school careers, 26 for lawyers and dentists and 30 for doctors) 12-15 years of focused investments/savings should yield at least a year and some changes' worth.

 

[8WON6]

Do you smoke or drink?

nope.

 

[KING WILL]

Ill be 35 in a few months, I have about 3x my salary in different accounts.

Its def difficult, but its most def possible.

 

[-DMP-]

I probably won’t have that but i am also aggressively pursuing real estate. Want to buy a property every year if I can.

 

[Dolla$]

Reading shyt like this gives me anxiety because it reminds me I’m not doing what I’m suppose to be doing

 

[KING WILL]

I probably won’t have that but i am also aggressively pursuing real estate. Want to buy a property every year if I can.

that's dope, handle biz!

 

[the bossman]

nikkas getting highly emotional. I'm not there yet but I'm close. Even if you not there yet just use it as motivation. Chips been stacked against us since day one as black folks. It is what it is.

Savings is not overrated and you will want to retire one day

 

[Booker T Garvey]

Y’all still go to work? Pay checks? Needing to save your money?