 What's happening? It's Shane here. And in today's video, we're gonna be talking about how much you should have saved and invested by age. Okay, this is a question that I have gotten before and I decided to make a video on it. So that's what I'm doing. And before we get into it, I'm going to ask you to gently tap that like button. The goal for this video is 1,000 likes. Let's see if we can do it. Also hit that subscribe button and ring the notification bell and let's jump right into it. So first off, I just wanna say it's a little bit ridiculous to compare like two 30 year olds, for instance, that have completely different life paths. So for instance, let's say, you know, there's a 30 year old who just went through med school and residency and they're about to start making, you know, really good money as a doctor. They likely have a negative net worth in the hundreds of thousands. So they're probably like negative 200, negative 300, negative $400,000 for their net worth, right? So they obviously wouldn't have too much saved and they probably wouldn't be investing all that much either. Compare that to somebody else who decided to go straight into trades, for instance, and they started making money right away as an apprentice. And then after a few years, they became a fully fledged plumber, for instance. And then they're making really good money all through their 20s. They would likely have a net worth of something like, I don't know, 100 to $200,000. So obviously they would have more money saved and invested. Now that doesn't necessarily mean that one path is better than the other. Over the long run, 20, 30 years down the line, the doctor would likely surpass the plumber. So it's very difficult to compare all people. You know, it's kind of like an apples to oranges comparison in many ways. However, I did come across a very interesting study by Trans America Center for Retirement. And they show that Americans in their 20s have a median of $16,000 in savings. For their 30s, it was 45,000. For their 40s, it was 63,000. For their 50s, it was 117,000. And for the 60s, it was 172,000. Now for me, the one that's the scariest to see there is people in their 60s that only have $172,000 saved. That is nowhere near enough to retire on. And if you're in your 60s, you're likely very close to retirement. Now, if you look at the averages, and you know, averages are usually gonna be a little higher than the medians because of outliers. You know, ages 18 to 24, and this is according to Federal Reserve data, ages 18 to 24 has an average savings of 4,700. Ages 25 to 29 is 9,400. 30 to 34 is 21,000. 35 to 39 is about 48,000. 40 to 44 is about 101,000. 45 to 49 is 148,000. 50 to 54 is 146,000. 55 to 59 is 223,000. 60 to 64 is 221,000. And interestingly enough that goes down a little bit from 65 to 69 to 206,000. Right, so a little bit better if you're looking at the averages, but still not enough to retire on in most cases. Now that's what the numbers actually are. What I would personally recommend is going to be a little bit different. So generally speaking, what is recommended is by the time you're 30, you basically need to save whatever your income is. So if you're making $50,000 a year, by the time you're 30, it's a good idea to have $50,000 saved. And then when you're 40, it should be three times that much. So if you're 40, you're making $50,000 a year, you should have about 150,000 saved. When you're 50, it should be five times that much. So 250,000. When you're 60, it should be seven times that much. So 350,000. When you're 70, it should be nine times that much. So that'd be 450,000. And then when you're 80, it should be 11 times that much. So it would be 550,000. Now, chances are in real life, your income would go up as time went on. So by the time you're 60, you're probably gonna be making a lot more than $50,000 a year if that's what you were making when you were 30. So let's say you're making something more like $150,000 a year when you're 60. That would be 150 times seven, which would be $1,000 and $1 million and $50,000. So 1.05 million. Right, so that's just a general rule. And this is basically an answer to your question, just looking at the numbers and the statistics and kind of like what you should be aiming for. But like I said, everybody takes different paths. If you're a doctor or something like that, you might not have a positive net worth until you're in your mid or even late 30s. And depending on what type of person you are, you know, that could be great for you if you're someone who really likes to delay gratification, but for other people, that might not be the best opportunity. Maybe there's other things you could do where you could make more money right off the bat. All right, that's all though. Check out my other videos right here. I made them just for you. Go ahead, gently tap the like button, hit the subscribe button, ring the notification bell and comment down below any thoughts, comments, criticisms, et cetera that you have on the video. And I will see you next time.