How are Era's millennials doing financially?

[Z-oo31]

https://thecollegeinvestor.com/14611/average-net-worth-millennials/

The above article is dated Nov 2018, so it's fairly recent.
You can read about how the author arrives at the estimates.

Your NET WORTH is all your assets minus your liabilities.

Below is the pertinent chart that relates to the thread's poll. This is a USA-focused chart.

Ignore the "Class of" part. That's relative to the date of the article, and age does not directly tie to class year anyways. Some graduate earlier, some later. Just focus on age.

EDIT:

As a side note, I really love Mint.com for keeping track of my net worth. I recommend it to others who want to be financially on top of things. There are other similar tracking services as well.

 

[Deleted member 4367]

Better than that chart thankfully.

 

[Vic2003]

What's up with the age/class of math? I'm class of 2003 but I'm 34 not 36...

 

[nsilvias]

i dont have debt yet but im still broke.
i got a grant for school so im good for now there.
my insurance runs out in a year tho so im gonna have to try to not die to avoid building medical debt now. kill me

 

[Dyle]

Better than that but I got fucking lucky and don't deserve it. The age/class math is two years off though and is going to confuse everyone

I won't be in this position once I start working on my master's at the end of the year though, I'll go very negative very quickly once I start paying for that

 

[Scrub Jay]

Class of 2002 and 35. Class of 2003 is not 36. They would be 34.

I'm about 10X the average mercifully.

 

[Buttchin-n-Bones]

I don't get how that year listing works. Neither of my graduating classes correspond with my age

 

[thekonamicode]

The article says I'm a millennial (born in 1981) but the chart does not (class of 99). Guess I'll live on the moon.

*edit*

I'm dumb. I'm "class of 2003" collegiate. The original article being THREE years old threw me off.

 

[B.K.]

I have about $40 to my name.

 

[Deleted member 18025]

Not in debt thank god

 

[Master Of Illusion]

Not too bad tbh.

 

[Brinbe]

none of those ages/years matchup at all lol

 

[Lord Fagan]

Those age numbers are fucked.

Makes me wonder about the dollar counts.

 

[Spenny]

The years are all fucked up. Thankfully I'm doing a shit ton better than that chart (I bet they're fucked too).

 

[Z-oo31]

What's up with the age/class of math? I'm class of 2003 but I'm 34 not 36...

Click to shrink...

Ignore the "Class of" part. It's relative to the date of the article, and age does not have a direct link to class year anyways.

 

[Curler]

I don't get how that year listing works. Neither of my graduating classes correspond with my age

Click to shrink...

I re-read that and I think it goes by college graduation date? I kept thinking high school (which would've made more sense since not everyone starts/finishes college on a set year...)

 

[Deleted member 13496]

Terrible actually but whatever.

 

[Good Kid mAAd Poster]

Compared to that I'm rich as hell. If I went into specifically how much above that I am it'd be bragging.

 

[Aeriscloud]

I have a 3rd of a jar of Jif and some Altoids Arctic.

 

[DrLight66]

That chart is garbage, it can't even get graduation years and ages correct.

 

[Deleted member 46493]

Pretty good. I paid off my student loans last year. I'm low on savings right now because I just signed a new apartment lease but I should be at around $10k in savings by November if not before.

Having at tech job saved my finances to be honest.

 

[Buttchin-n-Bones]

I re-read that and I think it goes by college graduation date? I kept thinking high school (which would've made more sense since not everyone starts/finishes college on a set year...)

Click to shrink...

Still doesn't work for me 😕

I graduated high school in 2010 and I'm 26 now, turning 27 later this year. There's no way I could possibly have graduated in 2012 or 2013.

 

[EmptyWarren]

Never went to college so I am actually surprised I am doing better than my age group. Still feels right on the edge though. Though I also didn't up my cost of living after making more. Hurts less when you fall.

 

[Ryuelli]

Slightly worse, but not by much. This chart kind of makes me feel better about myself.

I don't get how that year listing works. Neither of my graduating classes correspond with my age

Click to shrink...

Same here. I'm 28 (will be 29 this month) and graduated in 2009, I was one of the older ones in my class by almost a year.

 

[Sunster]

I'm better AND worse at the same time. I don't have all kinds of payments forcing me to work tons of hours like my sister and many others my age. But I have $30,000 in medical bills from a car accident hanging over my head. And student loans of course.

 

[dhlt25]

way better than that chart. But I fucked up this past year trading stock. Down ~6k currently. Nothing big but painful still

 

[Deleted member 56266]

24 and I don't have $28,000( just graduated), by next year though I should be doing well.

 

[BriGuy]

I have no idea how to calculate my net worth. Is it just what's in my back account, or does it factor in my possessions, stocks, retirement accounts, etc.

 

[Deleted member 17388]

My net worth: 0. So better de facto :'v

Also, I graduated from high school when I was 15 so that "class of" would be mistaken either way... Just go by age.

However, aren't 18-21 year olds Gen-Z or something?

I have no idea how to calculate my net worth. Is it just what's in my back account, or does it factor in my possessions, stocks, retirement accounts, etc.

Click to shrink...

I used this calc to be sure; I ended up putting a bunch of zeroes :v

https://cgi.money.cnn.com/tools/networth/networth.html

 

[Deleted member 1086]

can't make heads or tails of that chart but approx. 30k in debt including my car note and credit cards. I don't have student loans and my living expenses(minus the car loan) are relatively low. Still am able to put some away in savings and retirement but it's not a ton, could definitely be more. All in all I'm doing okay, not great but also not terrible.

 

[daveo42]

Doing better now, but I still have a negative net worth thanks to student and other debt. Woo!
Edit: forgot about my retirement account, so I at least am in the positive, but still have debt I need to pay off to put myself in to a better standing financially. Also, I'm scrambling to find a new job in the case my contract isn't renewed in a few months.

 

[SaintBowWow]

24 and I don't have $28,000( just graduated), by next year though I should be doing well.

Click to shrink...

The chart says 24 year olds have negative $28K on average (those student loans will get you).

 

[Deleted member 1120]

Can someone just kill me please?
That's my answer.

 

[turbobrick]

I don't have any debt, but I live at home with my dad and own very little of value. I also work a shitty minimum wage part time job.

 

[El Bombastico]

Am I understanding that chart right in that the average 29 year old is 6 grand in debt?

 

[QuigleyMcShine]

My net worth: 0. So better de facto :'v

Also, I graduated from high school when I was 15 so that "class of" would be mistaken either way... Just go by age.

However, aren't 18-21 year olds Gen-Z or something?


I used this calc to be sure; I ended up putting a bunch of zeroes :v

https://cgi.money.cnn.com/tools/networth/networth.html

Click to shrink...

Using this we're doing quite a bit better than the chart. Value of the house helps quite a bit. Wife's student loans are still a pain.

 

[Z-Beat]

Not great but better than the chart

 

[Deleted member 198]

I ain't doing too hot.
Thanks higher education.

 

[Deleted member 32374]

Worse than a chart if we go by debt.

Era is an enthusiast forum of mostly tech literate people with the means and free time to devote to an expensive hobby. Era won't be the "average".

 

[Bradford]

I have like 100k in student loans but if you ignore those I'm doing pretty well.

Also I know it said to ignore the Class of part but I was Class of 2011 and I'm only 26.... so....

 

[Deleted member 56266]

The chart says 24 year olds have negative $28K on average (those student loans will get you).

Click to shrink...

I see, I missed the negative (I was like wtf).

 

[Mortemis]

Definitely better. Went to community college for two years, then in-state uni for another two, so my debt is really low (well, it's definitely not $28k).

 

[GaimeGuy]

31 and above the high achiever entry for 36 year olds, although probably 3/4ths of that is in my 401k.

Then again that's all probably a 3:1 split pre/post-tax

Thankful to have graduated with no debt thanks to my grandparents and scholarships, and landed a software engineering job right out of college, which I've been working at ever since 2010.

 

[Mercurial]

Far better due to this strange melange of luck, skill, hard work, and calculated risk.

Definitely better. Went to community college for two years, then in-state uni for another two, so my debt is really low.

Click to shrink...

Likewise. I transferred into in-state uni with my Associate degree and finished out the Bachelor's degree. Went back and got my Masters degree on my employer's dime.

 

[Z-oo31]

Era is an enthusiast forum of mostly tech literate people with the means and free time to devote to an expensive hobby. Era won't be the "average".

Click to shrink...

Yes, I agree about the tech literate part.

I am expecting the final results of the poll to beat the average.

 

[Speevy]

If you put all the positive people together, they could pay my student loans I think.

 

[Orayn]

Got a job above median income, just bought a house, albeit with two roommates. Still a good chunk of change in savings, though it won't go as far because having a house is more expensive.

All of this was only possible because my parents covered my college, which they had set out to do from the day I was born and won't let me feel guilty about or pay them back. A little less good luck in that area and I'd be in a pretty tough spot.

 

[Ogodei]

Huh, retirement and all makes me 7 years older than I am. Something to be happy for.

 

[SaintBowWow]

Yes, I agree about the tech literate part.

I am expecting the final results of the poll to beat the average.

Click to shrink...

There's a bias built into polls like this in that people doing well financially are more likely to vote in the poll because they're proud of their answer.

 

[BasilZero]

Doing great.


Was really terrible from 2007-2011 (Was a no lifer, playing MMOs and stuck on several gaming, anime, MMO forums)


Got better in 2011-2015 but still rough around the edges


I'm at my peak right now with my own house, car, college degree, job in my career field and being married (which all of happened between 2016 to current

Barely in my 30s too


There's so much room for improvement and I plan to expand my education (and once my wife passes her RN exam) - I'll be better financially (not that I'm bad at financial wise right now).


I have debt via School loans and home mortgage but its still sustainable with my current income, will be far easier when my wife starts working - then I can focus on expanding my education and looking for bigger opportunities.