Are you invested in the market?

[slow06]

As far as "the market", we've got my 401(k), the wife's Roth 403(b), a few dollars in E-trade I dabble in, and 1 share of Ford Motor Company my wife paid to much for (as a gift).

We're right at 1x at the age of 26, but then again we don't make that much so its nothing to brag about.

[black2002ls]

I will be 30 in July. My savings is pathetic to say the least. I start my new job on the 20th. With company match I will be putting ~$4k a year into 401k and will finally be able to build a savings

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[Moose242]

Nope.

[46Tbird]

Furthermore, one commonly used guideline says that individuals should have 1x their household income in savings/retirement accounts by age 35, 2x by age 40, and 3x by age 45. How do you compare to these benchmarks?

My 2 cents on this.

That's bullshit. I can think of many reasons someone wouldn't be able to come up with a saved/invested number like that (children, divorce, single income, lawsuits, etc). And I can think of a bunch of other reasons someone would have that kind of money stashed away without being a diligent saver/investor (inheritance, gifts, divorce, "DINK", lawsuits, etc).

In my own situation, I'm just slightly short of that number at 36 and I don't see me making those marks at 40 and 45. Plus I really don't give a shit about having a huge number socked away. I guess I should start caring, I ain't gettin no younger. Maybe after I pay off the Mustang, lmao.

[dblack1]

I voted no, mainly because it is less than 3% of my net worth. I don''t own a lot of gold/silver, but it is more than that as a percentage.

[jayjohnson600]

Aesop's ant and grasshopper, FTW.

[jayjohnson600]

It's impossible to predict how the income earning environment will change.
Currently, folks aged 50+ that drop out of the workforce(for whatever reasons) are having a very difficult time getting employment, and when they do, the pay numbers take a hit.

A person needs to stay ahead of the savings game at all times, due to the changing environment that can affect earning power. I observe many times, a hit to earning power is a reset that affects people the rest of their lives.

[STROKD]

Furthermore, one commonly used guideline says that individuals should have 1x their household income in savings/retirement accounts by age 35, 2x by age 40, and 3x by age 45. How do you compare to these benchmarks?

well Im 35, have about 3k in a 401k... so Id say Im a little behind.

[CWO]

I'm behind the curve. I like spending money now.

[Shorty]

In between 1 and 2x at 26.

Same, but I just turned 27. Someone get us our choo choo drivin licenses!

[sc281]

Aesop's ant and grasshopper, FTW.

I like Futurama's take on it better.

"It's just like the story of the grasshopper and the octopus. All year long the grasshopper kept burying acorns for winter while the octopus mooched off his girlfriend and watched TV. Then the winter came, and the grasshopper died, and the octopus ate all his acorns and also he got a racecar... Is any of this getting through to you?"" - Phillip J. Fry - Futurama

[sc281]

Same, but I just turned 27. Someone get us our choo choo drivin licenses!

What makes you think I don't? I buy the trailers and rent 'em back to the railroad, and then have them pay me to drive em!

That's where the ballin' money is at!

[slow99]

I like Futurama's take on it better.

Too bad he's banned.

[sc281]

Too bad he's banned.

I see what you did there.

[slow99]

I see what you did there.

Hell, now he's back.