What Your Net Worth SHOULD Be By Age 30

What Your Net Worth SHOULD Be By Age 30
What should your net worth be by 30? Come along as we explore this question, learn about the important difference between income and net worth, and discover practical ways to increase your net worth.

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George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.

This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.

[davidpare]

I had a negative networth at age 30, but got into the babysteps not long after, now I’m at 70K and just turned 35, the plan works 🎉

[Hannahbenowitz]

Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 5 million dollars

[beggsie]

George knows how to get people motivated. If I had him as a friend in my 30’s, I’d have a friend.

[FaithAndrada-xoou]

I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.

[AndersonFair-cybb]

I’m 27 . If I had $360k I would invest $100k in tech & $260k into dividend stock with a proven track record to grow with capital appreciation & dividend increase year over year

[michaelschiemer]

The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or saving my earnings to achieve this goal?

[Grace.h-to]

Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.

[alexsteven.m]

Hello, I am due for retirement in two years, I'm a senior citizen but I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $50K per year but nothing to show for it yet.

[Riggsnic_co]

To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?

[NateDog]

Just paid off my student loans last week to make me debt free at 24! So thankful to those who supported me along the way. That puts me at just over 100k in net worth. Praise be to GOD.

[MarvishaN]

If I had George as a friend in my 30’s, I’d have had a true friend. He sure knows how to do this thing called MOTIVATION. Well i'm 42 now with $1.8m net, not there yet. My strategy has been to put half my income into the stock market at the start of every month under the careful supervision of my CFP, regardless of what is happening. The second part of my strategy is not to sell for at least 15-20 years. Time in the market beats timing the market.

[jh_]

I am 35 and my wife is 32. We started off with $25k in student loans, a leased car, and an apartment we couldn't afford. We have 5 kids that are 8 and under now, and we have never had a household income over $75k per year. 10 years later of following the Ramsey plan we now have no debt including a paid for $250k house and a net worth of about $400k. We appreciate you and the work your team does!

[zoeytank]

Having recently sold a property in Portland, I'm contemplating investing the proceeds in stocks. While many claim it's an opportune moment, I'm uncertain: Is now truly a favorable time to enter the stock market? When can we expect a complete recovery? Moreover, I'm puzzled by how others in the same market are achieving gains exceeding $450k within months.

[tonysilke]

Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.

[MIchaelGuzman]

50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $6 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

[tcgtpl]

Mr Kamel breaking away from the tired debt train wreck stories & doing something different. Excellent.

[dpbass]

At age 25 I was at rock bottom, my net worth was somewhere around -30k and my income was 38k in a HCOL area. I knew I had to change and I started tracking my net worth and started budgeting

At age 30 I bought a property and my net worth was at 45k. I was making progress but I knew there was still much more to gain if I kept at it.

Now at age 35 my career exploded, I kept increasing my savings and retirement contributions and my net worth is around 450k.

Never did I think I’d be where I’m at now 10 years ago.

There is a thought that has always stuck with me. People greatly overestimate what they can do in a year, but they greatly underestimate what they can do in 10 years.

It’s never too late!

[thegabbybshow]

We just paid off our last debt this past weekend, we are now debt free aside from our mortgage thanks to the baby steps!!!
31 years old and planning to have the house paid by 37

[TheRealJoyboy]

I've been following the Ramsey Baby Steps the last three months. Wanted to break the cycle so I started focusing on my debt. My grade is a "D, " but I'm actually working the plan. My car will be paid off at the end of October and then it's onto the student loans. One step closer to being DEBT-FREE!

[firehaas]

Thanks to the baby steps for a plan I went from an F to an A between 23 and 30 years old!
Thanks to paying off lots of student loans!