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How Much Money Should You Have Saved By Age 35?

How Much Money Should You Have Saved By Age 35

Some wonderful bliss financial advice almost broke Twitter on Tuesday. In a nutshell, by the time you’re 30, you should have a year’s worth of your salary in savings, according to "experts."

The article was published by MarketWatch, a financial website. It said that an individual "should have two years' worth of your salary" saved for retirement by age 35, according to Fidelity Investments, a Boston-based investment firm.

The article also addresses how such expectation is unrealistic for most Americans. People in their 30s "are plagued with crippling student debt," current "home prices are rising as are mortgage rates," and some millennials spend $35,000 to $47,000 on a wedding.

The article seemed laughable to its readers. It should, therefore, come as no surprise that it evoked a huge "roast" response on Twitter. One user pointed out, "to be fair 'be rich' is very good financial advice."

Some responses were of the following nature, "I think you meant to say, By 35 you should have debt twice your salary." And, "Do any of you know real people? just curious."

"I can't be only one who reads this & thinks 'Who are they TALKING to?' I didn't have that much saved in my 30s. No one I knew had that much saved in their 30s & most of us were solid middle class. Is this advice only for the rich? If so, maybe start w/'95% of Americans can ignore."

Source: vladtv.com

Date Posted: Monday, May 21st, 2018 , Total Page Views: 523

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