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Anonymous
Anonymous asked in Business & FinancePersonal Finance · 6 days ago

When I turn 27, my net worth will be about $100,000. Is that pretty average? Or is that good or bad?

That's about how much ill have if you add up the money in all of my accounts.

4 Answers

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  • 5 days ago

    That's good.  Keep it safe.

  • ?
    Lv 6
    5 days ago

    That's a good start when only 27. I was in the Navy when 27 living on military pay with a wife and two kids. When 50 I discovered the stock market and made 50k in one day. No, I'm not a day trader.

  • Anonymous
    6 days ago

    That's pretty good compared to most 27 year olds!   That being said, most people never have true financial security so the bar has been set pretty low.

    Honestly, to know if that's "good" or not, we'd have to know more about you.   How did you get the 100k?   How is it invested?   What is your earning power going forward?

    If you have no education/skilled trade and have lived in your mom's basement for ten years saving all your McDonald's paychecks, that's not such a good thing.

    100k net worth is great.   But what is your ability to grow your net worth?  Can you support yourself and also continue to adequately invest for the future?     You're going to need 3-5 million to retire and anyone who thinks I'm wrong is an idiot.

  • 6 days ago

    Better than average for most of the population at that age, but your income and income potential at your age is what sets you up for long term success.  Of course, adding up the money in all your accounts is rarely your net worth.  You'd need to subtract any debt you have.  If you don't have a car loan or mortgage, then it would generally be accurate.  

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