The most prestigious law school admissions discussion board in the world.
|
 |
 
|
What should your net worth be by age 30? Answer: $301,475
Poast new message in this thread
Date: June 8th, 2013 12:19 PM Author: Primrose Heady Black Woman See http://www.givemebackmyfivebucks.com/2013/01/11/what-should-your-net-worth-be-by-age-30/ (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352183) |
Date: June 8th, 2013 12:22 PM Author: crusty internal respiration area net worth at 30 doesn't matter.
net worth at 50 does. |
 |
Date: June 8th, 2013 12:23 PM Author: Peach Den Weed Whacker This makes no sense. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352202) |
|
Date: June 8th, 2013 12:28 PM Author: crusty internal respiration area sure it does. around 30, most people are just starting their careers (assuming they went to grad school) and probably have student loans so taking a look at their net worth at 30 doesn't say much about how successful they are or will likely become. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352227) |
|
Date: June 8th, 2013 12:31 PM Author: Primrose Heady Black Woman Not everybody wastes 12 years after high school before starting their career. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352235) |
|
Date: June 8th, 2013 12:32 PM Author: crusty internal respiration area most people with advanced degrees are only a few years into their career by 30 and often have a fair share of student loan debt.
sure, the guy who came out of college and makes $75k at 27 will have a higher net worth than the 27 yr old v5 associate, but by 40, that v5 associate will likely blow that other dude out of the water in terms of net worth. |
|
Date: June 8th, 2013 12:37 PM Author: Primrose Heady Black Woman Biglaw associate will be lucky to reach 0 net worth before flaming out of law entirely. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352263) |
|
Date: June 8th, 2013 12:38 PM Author: crusty internal respiration area bro, just go by the net worth at 50. at 30, most people with advanced degrees are just starting out (they've been working less than 5 years and probably have student loans).
|
|
Date: June 8th, 2013 12:47 PM Author: Sienna library halford tell us about how you started a business after HS. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352299) |
|
Date: June 8th, 2013 12:57 PM Author: Peach Den Weed Whacker you said it doesn't matter.
i agree its not perfectly correlated.
but i bet that a $300k net worth at 30 is pretty well correlated with a high net worth your whole life. |
|
Date: June 8th, 2013 1:06 PM Author: crusty internal respiration area it may be pretty well correlated, but not necessarily. for example, someone who comes out of ugrad and does engineering could have a $300k net worth at 30, but not make more than $125-150k for the rest of their life.
|
|
Date: June 8th, 2013 12:34 PM Author: Vivacious Pale Azn Depressive (31 year old) (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352254) |
|
Date: June 8th, 2013 12:35 PM Author: crusty internal respiration area i'm 28. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352256) |
|
Date: June 8th, 2013 12:23 PM Author: flesh aromatic hell That's ridiculous. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352200) |
|
Date: June 8th, 2013 12:25 PM Author: Primrose Heady Black Woman ? (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352211) |
|
Date: June 8th, 2013 12:33 PM Author: flesh aromatic hell Maybe 5% of the population achieves that. Wealth is relative so if everyone is "poor" it doesn't matter. There is no absolute cutoff, all that matters is your place in society.
A net worth like that at 30 would mean you "should" be a millionaire by forty. That's fantasy land for most people.
Yet again XO is humblebragging by saying unrealistic expectations are NBD. Are you Asian? Asians always humblebrag like that. |
|
Date: June 8th, 2013 12:39 PM Author: Primrose Heady Black Woman Wealth is absolute, bro. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352270) |
|
Date: June 8th, 2013 12:40 PM Author: flesh aromatic hell (Bell's Inequality masterman) (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352273) |
|
Date: June 8th, 2013 12:42 PM Author: charismatic theater stage yarmulke i doubt even 5% of 30 y/os have that if you take away monetary contributions from their parents (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352281) |
|
Date: June 8th, 2013 12:48 PM Author: Sienna library halford yes, it's just a big humblebrag about having a high income
"According to CNN Money, the median net worth for someone under 25 is $1,475, and just $8,525 for those 25-34. However, if you go by income, the median net worth FOR PEOPLE IN MY INCOME BRACKET is over $300,000. Gulp." |
|
Date: June 8th, 2013 12:27 PM Author: stimulating corner mine is -$375K. prestigious ?
|
|
Date: June 8th, 2013 12:42 PM Author: Hideous charcoal plaza Well according to the article the median net worth of those 25-34 is 8k. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352280) |
|
Date: June 8th, 2013 12:50 PM Author: Primrose Heady Black Woman See the graphic, bro. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352314) |
|
Date: June 8th, 2013 12:53 PM Author: Hideous charcoal plaza Median wealth at that income is 300k. However most people at that income level are 45+. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352330) |
|
Date: June 8th, 2013 12:54 PM Author: Primrose Heady Black Woman If you're in biglaw now, your income is far more likely to go down than up from here. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352339) |
|
Date: June 8th, 2013 12:45 PM Author: Sienna library halford I don't think OP really read the article. Post title is misleading. Also, the whole article is basically one big humble brag for having a high income.
"According to CNN Money, the median net worth for someone under 25 is $1,475, and just $8,525 for those 25-34. However, if you go by income, the median net worth FOR PEOPLE IN MY INCOME BRACKET is over $300,000. Gulp."
Cool, you have a high income.
"Although I was able to increase my net worth by almost $100,000 over that time period (I started with over $20,000 worth of debt), I’m still $25,000 away from that goal."
Cool, you have a network of $75k-80k while the median networth for someone your age is only $8,500.
Also, ugly. http://en.gravatar.com/gmbmfb
I just realized another weird and misleading flaw about the article and graph. One set of net worth data is about age and only age. The other set of net worth data is about income, and only income (not income and age). So, when she says that $300k is the median net worth for a person with an income in the $75k-$99k range, she doesn't mean a 30yo with that income. She means median of everyone of any age who has that income. That article is a huge pile of shit. |
|
Date: June 8th, 2013 12:52 PM Author: Primrose Heady Black Woman http://www.givemebackmyfivebucks.com/wp-content/uploads/2013/01/median_networth.png (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352321) |
|
Date: June 8th, 2013 12:55 PM Author: Sienna library halford read the last paragraph I just added to my post. i was adding that last paragraph (via edit) before I saw your response. (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352340) |
|
Date: June 8th, 2013 1:03 PM Author: Primrose Heady Black Woman (30 yr old without $300K) (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352377) |
|
Date: June 8th, 2013 1:12 PM Author: Sienna library halford (guy who can't read or reason) (guy who thinks that a 30yo with a $75k income should have the same net worth as a 50yo with a $75k income)
this article is pure misleading dogshit. |
|
Date: June 8th, 2013 12:53 PM Author: Red police squad (who you thought the OP would be) (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23352324) |
|
Date: June 8th, 2013 1:46 PM Author: Irate puppy Does this count just cash in the bank, or is it also 401k, value of car, equity in house, what I could get if I sold all my shit at a garage sale?
If the latter, maybe 300k is realistic. I'm at 31 and I think I could sell all my shit and get up to 300k.
Cash on hand for me is like 100k tops. |
|
Date: June 8th, 2013 6:54 PM Author: Balding Address Knife So I guess you are the guy who jerks off to all those asian porn vids on youjizz (http://www.autoadmit.com/thread.php?thread_id=2276407&forum_id=2#23354752) |