What Your Net Worth SHOULD Be by Age 50
156,383
Published 2024-05-27
About this episode:
Ever wonder where you stand financially for your age? In today's video, I'm digging into what your net worth should be by the time you reach the big 5-0 and sharing some tips for getting your finances back on the right track.
Next Steps:
đ° Net Worth Calculator: ter.li/8dopes
đ„ Watch âHow Much You Should Have in Your 401(k)âby Ageâ:    âąÂ How Much You Should Have in Your 401(... Â
đ Order George Kamelâs new book, Breaking Free From Broke: ter.li/qimuz6
Listen to more from Ramsey Network
đïž The Ramsey Show âź ter.li/nrgexc
đĄ The Rachel Cruze Show âź ter.li/gyh9k6
đž Smart Money Happy Hour âź ter.li/ruezqk
đž The Ramsey Show Highlights âź ter.li/yc3i4v
đ§ The Dr. John Delony Show âź ter.li/sii4ha
đŒ The Ken Coleman Show - Highlights âź ter.li/nbekmn
đEntreLeadership âź ter.li/81tcjn
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/company/policies/privacy-pâŠ
All Comments (21)
-
Time is the biggest asset that most people squander. You really only have 5 chances from age 25 to embark upon a low risk 30 year investment journey towards financial independence. After that, it's certainly possible but gets harder the longer you leave it
-
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
-
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
-
It's a common misconception that when a stock you buy skyrockets, the smart thing to do is sell it (or at least sell some of it) to lock in your profits. But the context matters. If the stock has increased sharply because the business is performing exceptionally well, it could still be a bargain. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas...
-
I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
-
Should those of us with less than one million and above 50 be worried then? I have only 650k in my Roth and I don't know how to grow it and I'm worried I'm nearing retirement.
-
Then, should those of us who are over 50 but have less than a million worry? I worry that I'm getting close to retirement because I only have $500k in my Roth and I have no idea how to build it.
-
Just paid my mortgage off and im 39. Feels amazing
-
I just passed $1m net worth 1 month after my 35th birthday. Original goal was by age 40. đ đ
-
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
-
The scam bots are strong on this channel. George, please have your team moderate as it is very disrespectful to leave these comments to the subscribers.
-
I'm pretty close to this picture. I'm 59, and we are still putting 20% towards retirement and children's college, 20% towards paying down the mortgage, (20% to taxes, and 40% to monthly expenses) and I have no plans to retire early....looking to be 67 with a paid-off house and $2.5 - $3.5 million in retirement. It's a good place to be.
-
I am slightly behind, 54 and net worth is negative $15k. I flunked life.
-
Age 53. Wife, two kids. Weâve got a Kamel A++. A few more years to get these kids a university degree and then the wife and I are calling it a day. God willing. Live like no one else so one day you can live like no one else
-
This was backwards. It should have been, "You're 50 and short of where you should be... what can you do to catch up." This was a better video for a 20 year old than a 50 year old.
-
We just Crossed over 1Million in our 401k!! Just a nurse and a barber. We are both 54. Two paid off cars and 11 more years on our mortgage. Net worth $800,000 . I was looking at the video because I thought WE were behind. I really wanted to know how much most people live on during retirement so that I could plan to have enough money (THE GOOSE) and live off the interest (The eggs) . I have heard $10k a month? With No debt .
-
I own a paid off home. It's not worth anywhere near $500k. It's $140k at best (low cost of living area and a small bungalow). That alone puts me at a 25% deficit according to this math. Yet, the smaller house has much lower property taxes and insurance, so my overall savings required for retirement is much lower. I'm just pointing this out because expenses are the other side of the coin to savings when it comes to retirement.
-
Youâre math doesnât add up. No one making 30K a year can afford a 200k house on a 15 year mortgage. Even with 20% down it still sucks up nearly their entire paycheck. If you want these to be realistic and relatable, drop the 15 year assumption, most people arenât doing those.
-
Videos like these just remind me of how far behind I am.
-
Almost 50 net worth negative $108k, definitely failed. đą working til the day I die.
