Average Income by Age (and What to Do With It)

Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.

Is this gross income (before tax)? Seems very low, maybe just being from the New York area.

Yeah. I'm below average, then. I'm in between the 25 and 35 year olds in the 50th percentile.

I am 34 years old making 150k a year and I don't plan on ever retiring even though I can in my 50s. I worry if I stop working my mind will slowly slip away due to inactivity. I attribute a lot of my financial success to Ramsey and my parents.

I only have 4 years left on my mortgage and no other debt. Early on I learned to do the following:
1) Use Credit Cards to maximize points, but you must be able to pay off the full balance each month.
2) Fancy expensive items like luxury cars are not worth it long term
3) Is okay to splurge, but within reason

I went to community college first and stayed with my parents for 6 years while in school. I worked part time during school season and full time during off season. When I graduated, I only had 20k of student loan debt. Funny thing is my career does not require a degree now.

Even today I still drive my 2005 Toyota Sienna and my wife drives a 2014 Ford Focus. My Farm/Work pick up truck is a 1990 F150 that I inherited from my grandparents.

Is harder for younger generation to live below their means and that a dam shame.

I’m 28 and I live paycheck to paycheck on $150,000/yr. My 401k and Roth IRA are maxed every year. I’m set to retire at 55 and receive $200k+/yr (not including social security). Life is short, full send that shit while you can

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

I’m 35 and have never made more than 45K per year in my entire life

Damn George, I remember when you started this channel! You've now got over 300k subs 🤯

Need to bring the ages lower… I’m only 19 bro

Just found out I am in the 99th percentile for 21 but is still doesn’t feel like enough between spending money on all my hobby’s and food and such plus the money I invest it feels like i don’t have much leftover

“Making it rain on your future” and “the dawn dish soap of data scrubbers”… those really got me 🤣.
I love this channel. You guys are hilarious ❤️

I am finishing paying off my car. I paid off all my other debts. I’ll have it paid off by February. Then I’ll have a three month fund by March. From there I’ll start my 401k back up and save the other 3 months I need.

These memes are peak

Heh, 45ish years old, 75 percentile earner. After careful budgeting, my needs only account for 105% of my income. The rest I split evenly between wants and savings....

Hey George is that gross or net salary???

Are these income numbers gross income? Or net?

90th percentile in my age group just from staying focused, going to school, and taking advantage of my opportunities.

This is great info, George! Hope everyone listens to this!

These are low numbers!

I've found that having a budget doesn't help me, I still feel like I don't know what I'm doing. I like the 50/20/30 rule. 50% expenses, 20% saves, 30% whatever I want.

I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.

It’s 100% hopeless for most Americans I see it first hand. Not because it is impossible to save and invest but because they are too dumb and do not want too. I was fortunate enough to start a company at a relatively young age and every time a friend or a young customers tells me they just got X amount of money and are buying a brand new truck I ask why don’t you just put 10k a year into say the S&P500? They say nahhhhh I want a truck.. that’s the world for you no matter what there’s more losers than winners.

I'm 21 with a 6 figure job that pays for all my living expenses. I already know a lot about finances and I'm very good at saving money, but any advice on what to do with that much money so young would be appreciated

If I’m with a company that does 401k matching does the 15% still apply or can I put in less so it still matches up to the 15% income

Are these household income levels or individual?

I have a question. What happens to my investments if the U.S. Dollar crashes?

I was ready to like this video until I realized the entire thing is an advertisement

This piece of crap has 2 sponsors? Never gonna sub to this grifter

Step 5 on your baby steps shouldn't exist. You want to go to college, it's on you. There are plenty of good careers out there that don't require it and if you're driven enough to go for being a doctor put in the work to get scholarships or pay off the loans from you're decision yourself. I paid my own student debt off. College was a waste of time for me like it is for 80% of people who go. I make over $200k in a field that doesn't require a degree. I'll encourage my boys to do the same.

This videos been done 1000x. Do something else

Ok, above the 90th, niceee

Are these income net?

Jesús I make more than 75% of ppl and still can’t afford to live in Miami where I’ve lived my entire life… wtf

my wife and i bring home 71k annually together and we’re 22 i couldn’t imagine making any less cause we’re living paycheck to paycheck still..

To many people not willing to sacrifice but bitch about where they are.

Hell yea I doubled my age group.

I’m 14 and work at McDonald’s 3 days a week and I just put it into a savings account

Crazy because I’m 19 making 120k with a car I own an income producing rental property, still living with my parents and If I started paying rent or a mortgage I would be screwed and I’d have nothing left over after monthly expenses.

Are these incomes after tax or before?

Best thing I did initially was get a high yield savings account. I am getting 4.25APY but anyone can get started with a minimum of 3%. Just shop around… it’s FREE MONEY.

Scratch that. 4 ads is wild

3 ads is wild

Somewhere between the 75 and 90th percentile. I'm still in the same job I started with as an inturn 12 years ago. Master your job, learn new skills and make yourself valuable

I’m making six figures at 24 and I’m scared of investing at the moment because the economy seems like it’s near the brink of a reversal. Besides a HYSA (already have one), what should I be investing in? I currently don’t have a 401k or a Roth IRA, but will be opening one with the company I work for soon.

Damn my investment alone is more that the income of my age bracket

I agree. I did a reassessment of my life and spending habits. Im fortunate to have two income streams come in and I am in or above that 90% he's talking about. here are some examples of what I did.

sold a vehicle that was VERY NICE and bought myself something simple to me. which was a Toyota Camry.
-GREAT MPG
-BRILLANCE IN THE BASICS
--easy to maintain

car insurance went down and created a new policy
 
-more coverage is better than less coverage FYI
also less flashy of a car less insurance cost per month!

cell phone providers
looked at my cell plan and realized I was paying for extra lines and programs.
a quick 20 minute call got that all cleaned up and now my bill was cut in half.

rent/mortgage
I lived and worked in a another state outside of where im from in CA. decided I would re-assess my career.

-I stopped paying a bogus rent that I didn't need and which was 1200 a month. had a mortgage in CA for 2400

so that's 3600 of money I was spending. sold my home and finished my lease.

made a deal with my brother for a year to rent a room from him for half of what my rent was for 1 year so I can create a plan.

not the best for my freedom but finically I was saving 3000 just on living somewhere.

just by doing this I've saved almost 4k a month in expenses

my current challenge is to avoid spending money on unnecessary food expenses and dinners they ar 400-600$ goal is to limit going out per week 1x/2x a week to be social.

I am 24 live in a HCOL area and make 100k , does not feel like over 90 percentile

How long will we tolerate financial slavery?

I’m in the 90th percentile…..wtf