What Your Net Worth SHOULD Be by Age 40

What should your net worth be by age 40? Is it too late to build wealth? In today’s video we’ll talk through calculating your net worth, how to know if it’s good, and what to do if you’re behind.

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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.

[Hannahbenowitz]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial increase. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does

[scootsmcdoots]

I’m 43 and broke with a high salary. Quickly paying off debt and won’t be debt free for another year. Late start but at least I’m starting.

[BeverleeR.Ziegler]

My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52.
We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.

[beckysmith]

We are 45 and 40. We jumped on the Dave Ramsey train early in our 20’s and are worth over $600K. We did this on one income less than $100K for 19 years. We’re have 5 kids ranging from 7 to 18. You can do it!

[tedsparks]

On my 40th birthday my net worth was 475k, and the most I could ever contribute in my 401k was 11%. Then I found Ramsey at 41, paused 401k for 2 yrs during baby step 2, now at 46, at 15% in the Kizzle and paying down the Mortgage, I’m at 975k. My goal is 1.2 mil and house paid off at 50. This stuff works. Just follow the plan. No excuses & your situation is not unique. You can do this. Btw.. love the KFSS!

[captngravity]

I got a C. I turned 40 in August. Current networth is $135, 678. Better than I was doing 3.5 years ago 👍🏻

[Suntz_u]

A rich life which gives you a little bit of time and work-life balance costs you financial independence because it'll be low paying. Tough choices to make. Keep in mind, investing provides a jumpstart to financial freedom. At 34, I already have a $4m portfolio.

[glenbert]

I crack up when at 50 I get told by MULTIPLE ADVISORS that I am investing WAY too aggressively. I just laugh and tell them I'm really risk tolerant. With potentially a 5 year window to retirement (if necessary), we're fine. I don't think I could retire with less than $3 million in income-producing investments. I have already achieved 60% of my goal.

[Davisam]

I'm 33, with a D rating for my net worth currently, but this video gives me a good goal to strive for in the next seven years.

[KailinruAdao]

I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.

[laurenkallie]

Definitely an F. However am very motivated and am turning my life around. I've already made a lot of progress just this year and am learning and gaining more strategies and insights. I believe I am going to make it and be more than okay. I am not discouraged but determined and grateful for all the opportunity to change direction and am already seeing the differences. Thanks for more inspiration here with this video.

[blueskyeclipse]

🎉🎉🎉 Thanks for this video, George! My net worth is A+ since our home which we bought in 2018 is totally paid off and is now worth $835K and my 401K is worth $1.2M. We have $50K in cash in our ER Fund and own all three cars out right - paid for them in cash. I’m 42, graduated college with no debt (thanks, Mom & Dad), got a $60K job out of college at age 22 and have never held any consumer debt. Married a wonderful woman at age 23 and have three sons. God has been good to us and we have followed wise financial advice from Ramsey Solutions our entire marriage.

[Joenzinator]

37 and just broke the million 🧐Most of it is tied up in retirement accounts and the home. Graduated college with no debt (scholarships) and started investing at 25.

I do want to say, give yourself some grace in your 30's. Getting married, buying a home, having kids can mess things up a bit (especially the kids). There was a 3 year period where we could only afford to invest the 5% company match. But I invested plenty before the kids, and I'm investing 30% now to make up for it. So I would advise everyone to save more when you are able to, because there may be times where you have to scale it back.

[TigerTsunami]

Had this goal when I got married and told my wife we'll have $1m net worth by 40, stay focused with consistent investing and made it happen by 38. Projected to be a multi-millionaire by 42. No real secret but living within your means, put away 15-20% every paycheck, and stay out of debt. As someone that never came from money, anyone can do this with financial discipline

[punkbassandcovers]

We are 41 and 39 and just had the annual meeting with our financial advisor. Everything George is saying are facts. No college debt, no new cars, investing 15% of our income for 15+ years and a house payment at 27% of our monthly income on a 15 year/2.6% rate. We have three kids, two are through and the third is still in daycare which is a massive cost. Damn straight I am proud of our hard work and focus. Proudly rocking that A+. Currently in steps 4-5-6.

[Perk_SportYourCards]

Wife and I just hit 40 and we are at just over $100k. We have eliminated almost all of our debt (car loan and a 0% interest loan) and never want to be in debt like the F grade we were just five years ago ever again. Keep Going! Like most things in life, it takes active participation and not passive inaction!

[laneyluneva]

I'm 36 and scored a B. Also, the honey roasted BBQ is all you need, it's like a premium version of the Chic fila sauce.
Congrats on the baby! Currently holding a 6 week old (our 3rd) and the newborn stage is rough, all ours were colicky 😢😢

[Ilovedachshunddogs]

I’m 43 and husband is 41. We are CRNAs. My husband had 350K student loans I had 160K plus a 50K truck. I got obsessed with Dave Ramsey. We decided to become travel CRNAs and work a bunch of overtime. We now have net worth around a million. It’s so hard to build wealth when student loans slow you down but it’s worth it.

[Jewels]

It’s so cool to see how amazing everyone is doing. We found Dave this April, but have been doing his principals for a while now without knowing. Husband and i bought our home 20 years at the age of 23 and 25. We have always had big Goals for ouesleves. At the age of 43 and 45 (A+ rating) Net worth 1.9 million. We have always lived below our means.

[runnersaurus]

Wife and I are sitting @1.4m at 33 - not trying to gloat, just super grateful to come out of college with no debt and worked hard ever since to make sure that didnt go to waste. I know how tempting spending in your 20s can be once ypu start getting a "grown up" paycheck, stay strong people 🤙