How Much Income You Need To Save (By EVERY Age)

The YouTube Creator Academy:

AGE 20: Average Net Worth: -$31,571
1. GET A CREDIT CARD
The point is to begin building up your credit score as soon as possible, since 50% of your score is made up from your on-time payment history and how LONG you’ve had credit for.
2. OPEN A ROTH IRA
This will allow you to invest $7000 per year and grow your money COMPLETELY TAX-FREE by the age of 59 - meaning, by the time you’re older, everything is pure profit.
3. SAVE 20% OF YOUR INCOME
4. INVEST IN THE MARKETS

AGE 30: Average Net Worth: $42,339
1. GET A CREDIT SCORE OF AT LEAST 750
2. BE BAD-DEBT FREE BY 30 YEARS OLD
This means you’ve paid off any loans or debt that’s above a 5%-6% interest rate, you don’t have any credit card debt or personal loans outstanding, and besides the possibility of a low-interest rate mortgage or student loan…you don’t have anything weighing you down.
3. HAVE A 3-6 MONTH SAFETY FUND
4. AIM FOR 1X YOUR SALARY SAVED

AGE 40: Median Net Worth: $90,000
Average Net Worth: $319,000
1. MAX OUT RETIREMENT ACCOUNTS ANNUALLY
2. MAXIMIZE YOUR EARNINGS
3. HAVE A BUDGET - NO MATTER WAHT
4. KNOW HOW MUCH YOU NEED TO RETIRE
The rule of thumb is that, for a 30-year retirement, you’ll need to have anywhere between 25 to 30x your annual spending invested in order for that money to last you without running out.

AGE 50: Median Net Worth: $290,000
Average Net Worth: $1,300,000
1. HAVE 7-8X YOUR SALARY SAVED, OR 10-12X YOUR EXPENSES
2. BE CLOSE TO PAYING OFF YOUR MORTGAGE
3. HAVE A CLEAR PLAN FOR RETIREMENT

AGE 60: Median Net Worth: $490,000
Average Net Worth: $1,600,000
Top 1% Net Worth: $14,338,000
1. AIM FOR 10-12X YOUR SALARY SAVED UP
2. PAY OFF YOUR PRIMARY RESIDENCE
4. BEGIN WITHDRAWING FROM RETIREMENT ACCOUNTS

My ENTIRE Camera and Recording Equipment:

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice.

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The literal second I turned 18 I had a roth opened. Best decision of my life!

[dealforbet]

Your videos have truly changed my perspective on finances for the better. Thank you for all the valuable information!

[TravisCalderwood]

I’m 23 with a 116k net worth…I’ve made 50-65k since I was 19. I’m a mail carrier for the USPS and I work as many hours as they let me. I’m forever grateful I had parents that encouraged me to live at home rent free to save for the future. I now live in San Diego in my van being able to have fun with my money and still save and invest 30-40%. I’m doing this all for my future family!!! “Today is hard, tomorrow will be worst, but the day after tomorrow will be a sunshine”Patience, dedication, and consistency 🤘🏼

[iAmPineappleMan]

Wow, I’m 21 and I am doing significantly better than my peers yet I felt I was so behind. Thank you for providing this information

[Stone_]

I'm 29, I've checked (and exceeded) every box in the 20's and 30's, While making about 1/3 the average salary.

[veronicasvideodiaries]

So grateful I started watching financial advice videos around 19. I'm really proud of the milestones I've hit so far and prepping for the ones right around the corner. Thanks Graham (:

[ogjohn]

I will be forever grateful to you, your channel changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt . thank you ❤🧡

[Atrus]

Thank you for all your great videos! I've been saving for years but didn't start to plan for retirement until my late 30's. I think because I realized my life was already more than halfway over and I was starting to see the finish line. I started making some aggressive investments in ETFs and videos like this one have made retirement SO much easier to plan. Keep it up!

[THBbon]

Thank you Graham for enriching so many lives! 😊

[bluemaroon]

I really appreciate the verbal table of contents in the beginning of every video ❤

[yfrexof]

Thank you so much, Graham! I have been craving this type of content that does not allude to some outcome that is unpredictable! This was so refreshingly data heavy!

[Keller]

Hope you see this Graham. You are a genuine Youtuber, and I love your content as somebody in high school trying to be like you. Keep up the great work.

[sai-epku]

Love the content. I have reduced the number of bad decisions i make after starting to watch your videos. I am slowly getting there. Thank you

[ivanvalentine]

Thank you for teaching me financial literacy at 21 years old. I started watching you at 17 and now i can say I'm ahead financially because of you. You taught me how to be frugal and to watch what I spend. I will meet you and thank you in person ONE DAY!

[CharleneCong]

Loved the video! Really puts into perspective how important it is to start saving early and keep at it consistently. The points on age-specific saving goals got me thinking about how crucial a budgeting strategy is in hitting those targets. A lot of people who don't end up with saving enough money is because they don't know how to budget well. Personally, i found that a mix of the 50 (necessities )/30 (fun)/20 (saving and investing) rule and tracking expenses work really well for me. Thanks for sharing those thought provoking numbers at the beginning!❤

[zacharysoderberg]

Your content is great as always! Keep it up!

[Yusuf_Ali_Syed]

Thanks a lot Graham, you’re awesome!!

[insomniacsupremacy]

Hi Graham, I know you get a lot of comments under your videos, but I simply could not hold back on expressing my gratitude for your work on Youtube because you seriously changed my life. I started watching you at 17 and started setting myself up financially, putting as much money in a market weighted total world index fund ETF utilizing registered accounts, maximizing my credit score and points utilization and adopting a long term mindset on life in general. Im now way older and I’ll be starting soon my career in personal finance to preach those crucial steps while sharing my new found passion for personal finance. I’ll be forever grateful for the spark you gave me and changed my life for the better. I know you received some hate on Youtube but no one can steer from the fact that your tips and mindset are the gold standard to anyone starting in personnel finance. Wishing you a great day man.

[pyrotron]

Hey Guy it's Graham here, this made me feel so much better, i'm 30, thank you!

[Michelle_Sanders]

Retirement becomes truly fulfilling when you possess two essential elements: simple financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. My question now is how to get a good fianancail advisor that I can invest with and have good returns before retirement age .