Obviously, this number is different for everyone. If you want to retire by 40, your number is going to be different from someone who wants to retire at 60.
However, there are some big financial companies out there that have done studies on this. One says you should have 1 times your annual salary while the other says 0.5 times your annual salary by 30.
A study from 2017, says the average American salary for 25-34 year olds is $40,300. At thirty, you should try to have either $20K or $40K saved.
But, I think this is low. If you’re watching this video, then you probably care about your financial situation more than the average.
I would shoot for 3+ times your annual salary. And so if you’re making $40K, strive to have more than $120K saved at 30 years old.
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