The vast majority of people financially retarded. Why?

they're having children idiot

Look at the chart, it takes the average person 20 years of work to reach that point.

You have double the net worth of your age group.

most people put more thought into a 1 week vacation than they do into retirement

So if I make more than 200k in this crypto thing I'll have more money than most people ever have in their lives? Holy fucking shit.

Sad, isn't it

uhhh you live at home with like your mom?.... dude

Yep. Whenever I go to a crowded place like an amusement park or stadium, it just strikes me how many retarded looking NPC's there are.

Why remove equity in home? If you actually want a measure, check financial samurai studies and ignore income/ pay attention to net wealth. You'll see that savings matters as earnings decline into age but the wealthy have leveraged compounding interest to turn 80k in net wealth at 25y (1% for that age) into 11.75mil at 65y (1% for that age).

You're basically dead after 50. Make money, enjoy it, kill yourself if you're still alive by then or whatever. You want family, kids, legacy, you want to be remembered and you want to make a change in the world? Okay then, enjoy working your entire life just to die with all your earnings unused so (((they))) can take it and re appropriate it.

what, live in an apartment alone? i dont have friends, id probably hang myself

29 is pushing it by a lot. You've saved up a ton (though not as much as you should have living at home). Spread your wings nigga you milked your parents long enough.

What date on that? Has to be old

>tfw 18 years old and in HS with a 118k usd networth.

Also most people around 18-25 have negative debt due to student loans. I think the average net worth finally becomes positive in the late 20s. I don't understand how a 50 year old can only have around a 100k-150k networth. Even with 2 people working minimum wage jobs that's around 50k per year. What do normal fags waste all their money on?

This is why you need to set sights higher than average, try to reach and stay in 1% of wealth. That's a more productive use of your time than feeling good you out performed a bunch of ESOL low skill day laborers...

my wings are retarded

why would you live outside your parents' house unless you have a family of your own or get a job somewhere else? moving out for nn reason is just bleeding money on rent and utilities

$200k at 19.

Am I /elite/?

Cuz you have to borrow money for everything—school, house, food, electricity, bills—with loans and credit because money devalued because inflation.

If you had money that went up in value, you could save your way out of slavery. With devalued money you have to spend it first before the other guy and hope that you spent it in the right thing—education, investments, business.

triggered?

getting rich is great, by all means do you.. but there is something to be said about standing on your own 2 feet and acting like a man...

for the record, 37, 4bed 2.5 bath home that is mine, no debt and around 40k saved.. wish it was more though. I moved out on my 18th b-day

You are 29 and live at home? What the fuck dude, you are seriously wasting your life. You are still a child until you move out. So your mom cooks you dinner and washes your clothes?

This is not to be rude, but I am genuinely surprised. Me and everyone I know moved out between 18 and 20.

Cars, clothes, eating out, vacations, expensive toys, and occasional medical bills.

This is why you move savings into something that can equal or beat 30y tbill. You cannot stop the 99% from voting for inflation.

I'll be the counterpoint here. Early 30s, just over $400k, live at home. It makes no financial sense to leave.

not triggered at all
im not like will ferrell in step brothers. i pay rent (albeit low), eat my own food, do my own stuff. pretty much room mates tbqh

I have that much and made it in less than 1 year. Only because of the crash I'm back to 120k from 200k, but it's really fucking bad that people work their entire lives for that amount... this is why I'm never having kids unless I "make it" (1 mil or more).

The concept of moving out before you got married didn't exist pre WW2 unless you wanted to move across the country as an under payed labourer.
I hate my parents so I moved out but this is modern consumerism that has you convinced moving out is great. Also reddit spacing is for fags

But financial sense is one thing. For me socially and also for my own sense of self realisation it is really not very attractive to live with me parents.

But I guess it could be cultural as well.

>murricans

This is why you all will die poor and fucked by jews. I'm a spic and have more than most Americans will ever have in their lives and I still live with my family due to our values. I plan on moving back to spicland in a year once I get richer in crypto and I will still live with family down in Mexico to save money.

how do you hold on to a relationship like that?
I mean I am sure you can get laid cause that is easy, but somewhere around 25 the random hookups get old and most want to settle down

interesting.. post some proof because I am honestly skeptical

I get where you're coming from, I only warmed up to the idea after living in Asia for a while and realizing its normal for people to live at home until they get married. Suddenly moving out seemed like nothing but a wealth extraction meme.

i almost an heroed in college while living on my own. I had my own apartment but no friends so it was honestly the loneliest I have ever been. If i couldnt even enjoy living on my own in college i sure wont now

But to 30? I totally get a couple years in your 20s, that's more than enough time to save up over 100k but at a certain point it's crippling to normal social and romantic development.

This is how 3rd worlders get ahead in the US too. They don't move out early they all earn money as a unit and kids often pay back to their parents and vice versa. Once you get married you do move out but usually you keep family pretty close. All my family in Mexico lives in the same town within walking distance of each other

Yes idiot, listen to and let yourself be shamed and peer pressured into wasting money. Everyone is doing it!

I would agree with I recently said the same thing to my 18 year old apprentice knowing full well and good he will be on his own by 21, because that is what normal people in america do.

is it a good idea to buy a house or two when the market crashes and rent them out? we are due for a recession and can't think of a better opportunity to own some property

>130k in cash in my bank
Surprised no one else has called you out for trolling

You do you, but I think staying with family and saving money are better than being lonely and poor. I don't plan to marry until I'm in my 30s anyway

if you can afford it... real estate is one of the safer ways to make money.. trump made most of his that way.

who said I was lonely? I have a wife and 2 kids.. if anything I wish I had more alone time

How did you earn your money? Crypto I’m guessing? Not hating, just curious if you saved that much through conventional methods.

Crypto mostly, and I bought NVDA stock pretty low also. I'm pretty frugal and don't have a car or any other expenses so I never have to spend money.

fag. i also have 70k in crypto

but by the time you're approaching your 30s you should have a job that means you can afford to independently and save a lot; if you can't do that, there's some sort of deeper issue. It makes sense in your early 20s because renting would really cripple your ability to save but at a certain point paying your living expenses should be easily manageable and you're not gonna find a spouse living at home with your parents in America if your deep into your 20s or early 30s. Sure you can argue it's a bit fucked a one of (((their))) schemes but it's reality.

Average age people get married in china is 25/26 for bros and 23/24 for chicks. I think it can make sense to live at home and 29y is average age US bro gets married.

The important part is to use the lower cost of living to accumulate wealth. Your earnings yty are much less important over time. Learning how to save in an inflationary environment is Paramount. Not so you can one up your peers, but so you can enjoy more freedom than a wage slave. The purpose of money is to purchase freedom, but you can let the comforts money buys chain instead of liberate . I guess the idea of living with family doesn't sit right to me because living with mine would have been a great hindrance to my freedom.

Why do you keep so much cash on hand? The most I have ever kept in my checking account was 30k. Genuinely curious.

The average person doesn't use Personal Capital. 40k in retirement at 27 is kinda low for someone with a brain, but compared to normies that is really good!

i am waiting for housing market to crash then buy a house in my area. I live near atlanta and its booming here. people flock here. or il put more money in crypto

desu I live alone and don't think it is as good as people make it seem. I'd rather have the extra $750 in rent to spend on crypto or save. I got fucking memed, it is not like I get laid anyways... no benefit to being alone.

personal finance should be a discipline in high school, at the very least

>I totally get a couple years in your 20s, that's more than enough time to save up over 100k

I've been in your situation (or close to it) and don't get memed, we all have different personalities and you have nobody to impress. When I finally left I was miserable and you end trading some freedoms for others, only last year I found the girl that can cheer me up and I could have met her as easily living with my parents.

they teach/taught a class called civics... goes over personal finance and makes you do a mock budget ect.. but that was way back in middle school.

You might be waiting for a while. Do you at least have the majority of it tied up in CDs?

you should move some of that to other banks

thanks bro

no im a financial retard. plus cds only get like 15? right? im going to use it just dont know where yet (business/property)
why? insured up to 250k

The majority of people have things to spend money on. The last few times I went to the bank, they told me that I shouldn't leave so much money doing nothing in my accounts, but I don't know what to do with it. I don't have enough for a house, so I don't want to waste it either. But I'm starting to put some in cryptos, so soon my too much money problems will be over.

Yeah, CDs are dogshit as an investment vehicle but still better than the interest rate from your checking/savings account. The rates get marginally better the more you lock up.

mutual funds

Glad to know I'm not alone here. 29, 450k. Homes around here are 600k+ though and I'm terrified of debt.

very nice

I have some, I had it in a fund that performed well, then I moved it last year because of "advice" and it did like 5.something% with like 4.5% management fees. My country sucks for these things. I wanted to learn about them to maybe move things to a smarter place this year, and also learn more about the stock market but I got distracted by cryptos, so now I just look at memes.

One of us, one us us
Gooble gobble, gooble gobble

Why didn't you just all in on Boeing stock?

the (((most wealthy 300 people))) in the US has more wealth than 50% of the population.

Think about that.

If you have a mortgage on like a house with low interest, it's worth. If you're renting a place though, you're just making someone else money..

you should be terrified of inflation

find something low/no-fee

I am, put 350k in stocks. Friday was brutal.

I'd have 130k too if my mom housed me, fed me, schooled me, and employed me.

Oh wait, no I'd blow it on weed and vidya

i pay my parents 300/month, i feed myself because my mom sucks at cooking, we run a family business so yea youre right on that. I am planning on builiding a gaming pc once gpus go down. i dont smoke anymore

Lol kys niggerjeet

The vast majority of people are legit retarded