Скачать или смотреть Savings by Age: How Much to Save in Your 20s, 30s, 40s and 50s

No matter what age you're in, be it 20s, 30s, 40s or 50s, you need to save money for the future. Especially in those later years. If you're someone who is lost on exactly HOW MUCH you should save at the age you're in, don't fret! We got you covered. In today's video we're going to cover the amount of money you need to save to ease into your older years. So sit back, relax, and get saving.

Firstly, we need to calculate your net worth. When it comes to this, we need to add up all of your assets. This includes your investment or retirement accounts, 401Ks, HSAs, IRAs, home equity, valuables, or even your car or any available cash. After this, let's add up your liabilities. We're talking about your credit card debts, student loans, car loans, mortgage loans and basically money you owe or anything that demands you to pay annually. So add that up and subtract this from your assets. Whatever those digits are, good or bad, that is your net worth. Now if you're in your 20s or 30s and you have a negative amount after calculating, don't be too sad. It's actually pretty common. The average net worth for people in this age range is surprisingly negative. During this time, you might be spending a lot because you might be buying a new house, starting a family or maybe getting your own car and this is understandable. When you owe money, your net worth will accordingly be negative. Compound interest isn’t on your side yet. Your starting salary is likely too low to be saving a substantial amount, but forming the habit is still important. Saving anything may seem like a challenge. But the important thing is to start saving, and to start small, such as putting aside a few hundred dollars into an emergency fund. 
So bottom line, your net worth by 20 years old is, surprisingly, $0. Yes, you heard us right. If you're earning anything above that, then you're already doing well for an average 20 year old. But why settle for mediocrity? Consider taking on a side gig or a job to generate a little extra income for your savings. Or you can consider some passive income ideas. As you gain work experience and move onto a career track, you can amp up your contributions to your emergency fund and to your retirement account as well. We also suggest that you get an IRA account. You can get a free account by Webull or M1 Finance and give whatever amount you have and we guarantee that this will grow into a significant amount when you're in your 30s.

Let's talk about this in greater detail in the video! Go back up and watch it.
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