 What's happening? It's Shane here. And in today's video, we are going to be talking about the average net worth by age. And actually, we're going to be talking about the median net worth by age, but I had to title this video average because the YouTube algorithm. But anyways, we are going to be going over what people make on average by their age. And then we're also going to talk about a couple other important demographics as well. And you are probably going to be shocked at what the average net worth of somebody who say 25 or 30 years old is. In fact, I kind of want you to come up with a figure in your head right now. What do you think the average net worth of a 30 year old is, or in this case, actually median net worth? What is the median net worth of a 30 year old? But before we get into that, make sure to gently tap the like button. Goal for this video is going to be 2000 likes. Also hit that subscribe button and ring the notification bell so that you never miss out on a video. All right. So what was your prediction for the median net worth of a 30 year old in the United States? Was it $50,000? Was it $80,000? Was it $100,000? How about negative $1,989? That's right. The median net worth of somebody who's in that range is in the negatives. You actually do not have a positive medium net worth until you are 31 years old. Yikes. Now, what is the reason for this? Well, one of the obvious reasons is because of the fact that people go to college and they get in ridiculous amounts of student loan debt. They also take out car loans, credit card loans, etc. But of course, the main reason for this is because people are taking out so much debt. Now, it is a little bit difficult to calculate the average or median net worth of all people under the age of 35 just because people take drastically different life paths and they make huge life decisions that are completely different. So for instance, somebody might go into the workforce right away, right after high school. Maybe they start a trade career. They become an apprentice, something like that. And so they're making money right away. And maybe they're also very frugal. They buy a cheap car. They start investing right away. And you know, they don't spend very much money. Whereas somebody else might go deep into debt and it might not even be a bad decision, right? So if you are going deep into debt to become a doctor or you're going deep into debt to start a business that ends up becoming successful, then that could eventually end up being a very good thing. Now, according to federal reserve data, it actually does not go under the age of 35 because like I said, this is very difficult to calculate. But according to their data, the average net worth of people under the age of 35 is $76,000 and the median net worth is $14,000. So again, pretty close to zero, especially if you calculate the median, which does tend to be more accurate because of the fact that, you know, average, you're going to have somebody who has like $100 billion. They're just like a statistical flyer and they're going to mess everything up. So the more accurate one is going to be the median, which is $14,000 for those who are younger than 35 years old. Now, one thing that I've talked about before is on average, people who get a bachelor's degree, it takes them 20 years to pay it off. So if you get a bachelor's degree at 22 years old, you're probably not going to pay it off until you are 42. And this is of course, for people who take out student loans, people go on average almost $40,000 in student loan debt. But yeah, I guess it's nice to know that, you know, compared to other people who are your age, if you have a net worth of $1, then you're probably better off than most people under the age of 30. Now, I have two really good resources for you. The first one is going to help you to figure out what exactly your net worth is and its nerd wallet, which is a great resource, great website, they come out with a lot of great stuff. And net worth is very simply stated, just assets minus liabilities. So assets are things that you own, most of the time assets are going to be appreciating in value. So a few examples of assets would be the money you have in your checking account, your savings account, different investment accounts, your house, your car, etc. A few example of liabilities would be credit card debt, student loan debt, auto loans, mortgage loans, etc. Basically anything that is in the negative. And so a nerd wallet has a really cool little calculator that you can use to basically quickly figure out what your net worth is. And you can check that out down in the description below. And then once you know what your net worth is, you can compare it to all of the charts that are out there on the internet. There's even net worth calculators that will tell you what your net worth is compared to others. But this is only if you're just curious about it. If you're young from the ages of 18 to 35, it's going to be completely different depending on the life path that you choose. But anyways, hope you enjoyed the video. Go ahead, check out my other videos right here. Make sure to gently tap that like button, hit the subscribe button, ring the notification bell and comment down below any thoughts, comments, criticisms, etc. that you have on the video and I will see you next time.