As someone in their mid 20s that is creeping up on my second 100k in savings. Saying 100k in your 20s is easy and doable with a Mcdonalds job is wildly out of touch with reality. I can't tell if this is just rage bait or not.
I was in the same boat as you in my mid twenties, so I also find myself in the same basis. At current pay, assuming a decade of work and average market returns, someone could save $100k in 10 years at mc’s. Food for thought. Can you do it while living up life, no…
Yes, I know a friend at age 25 had close to 200k working as a cleaner and security guard. He also invested. It is possible. He quit college at 19 and worked for 6 years to accumulate it. Opportunity cost of going to university or college is the 6 digit figure money you could have earned. This was in 2007. So minimum wage where I lived was $9/hour at the time.
How exactly is it easy for people to save a hundred grand? With all due respect that doesn't make sense. Did you actually say that someone working at mcdonald's can save a hundred grand? Really?
You still have to save $800/month for 10 years to get there. Most ppl at 18 think $300 is a lot and will go spending like they’re making real money lol. It’s an advantage if you have financially literate parents and respect them enough to listen to them
@@6packjesus sure, but most ppl still want to enjoy their life and that time commitment is something most 18-23 yr olds aren’t willing to do. Also if you want to focus on skill development to make more money it wouldn’t be the smartest decision. Unless your planning on a trade and one of your jobs is a trade
Someone working at McDonalds and supporting themselves can't save $10K a year - and it's asinine to say so. If you're pursuing an advanced degree (say in a STEM field), your investment is in yourself and even if you're successful, you may not get your first job in your field until your late twenties. Again, you won't have $100K saved by 30 years old. Such careers involve investment in your brains - to enable you to earn the money that will allow you to catch up in your thirties and beyond.
@@LundBrandon And is your only source of income a job at McDonald's and is that your only source of support and is all that $100K the result of you saving and investing wages you earned at McDonalds?
what this guy is saying is wildly incorrect on SOOO many levels. You absolutely at 65 right now can retire with 1.6M. If the goal is to retire as a holloywood star than you have other problems but YOU should not be saying that is THE GOAL. If you have no debt own ur own home and live a simple life 1.6M is 100% retirable. Now if u r 40 now with 1.6M and want to retire at 65 with out saving anymore that money will still grown for 25 more years. that would triple by that time frame. All of ur examples are an example of someone that either doesnt know math or is just saying REALLY out of place stuff for the algorithm.
I think there is a lot to say here. What you are saying is objectively wrong, and locally right. In a LCOL area sure you can swing by, assuming you don’t get cancer or have a health issue. Otherwise, i objectively don’t think the math agrees. But it depends on one’s risk tolerance in burning the initial asset through retirement.
@DKK it really show how little you ppl understand basic math. My parents have nowhere near 1.6m and yet they are retired and living comfortably and travel. Some of yall need to touch grass
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As someone in their late 30’s I can confirm those are all numbers
As someone in their mid 20s that is creeping up on my second 100k in savings. Saying 100k in your 20s is easy and doable with a Mcdonalds job is wildly out of touch with reality. I can't tell if this is just rage bait or not.
I was in the same boat as you in my mid twenties, so I also find myself in the same basis. At current pay, assuming a decade of work and average market returns, someone could save $100k in 10 years at mc’s. Food for thought. Can you do it while living up life, no…
Jeez, I missed the first few seconds where you said NET WORTH and thought these were yearly salary’s and nearly pooped myself
yeah yeah networth, I wish!
Yes, I know a friend at age 25 had close to 200k working as a cleaner and security guard. He also invested. It is possible. He quit college at 19 and worked for 6 years to accumulate it. Opportunity cost of going to university or college is the 6 digit figure money you could have earned.
This was in 2007. So minimum wage where I lived was $9/hour at the time.
Was chilling until I noticed the Spurs mug...
hey, I gotta rep my team lol
How exactly is it easy for people to save a hundred grand? With all due respect that doesn't make sense. Did you actually say that someone working at mcdonald's can save a hundred grand? Really?
Not spending on crap and instead investing early. It takes discipline
You can do it if you’re single living at home easily tbh. Harder if you have rent
You still have to save $800/month for 10 years to get there. Most ppl at 18 think $300 is a lot and will go spending like they’re making real money lol. It’s an advantage if you have financially literate parents and respect them enough to listen to them
@@Aboguaboga so it can get cut in half the time with 2 jobs. Maybe faster if u put those 1600 in a 401k
@@6packjesus sure, but most ppl still want to enjoy their life and that time commitment is something most 18-23 yr olds aren’t willing to do. Also if you want to focus on skill development to make more money it wouldn’t be the smartest decision. Unless your planning on a trade and one of your jobs is a trade
Someone working at McDonalds and supporting themselves can't save $10K a year - and it's asinine to say so.
If you're pursuing an advanced degree (say in a STEM field), your investment is in yourself and even if you're successful, you may not get your first job in your field until your late twenties. Again, you won't have $100K saved by 30 years old. Such careers involve investment in your brains - to enable you to earn the money that will allow you to catch up in your thirties and beyond.
I am going to have well over 100k net worth by the time i'm 26.
@@LundBrandon And is your only source of income a job at McDonald's and is that your only source of support and is all that $100K the result of you saving and investing wages you earned at McDonalds?
Kudos to Musks and Bezos's of the world for bringing up that average 💪
They are filtered out as extreme outliers
What about people in their 120s?
Lol what?
@@everydayentrepreneur101 Jimmy Carter be flush yo.
Dude, if you think its so easy to save up $100k by the time you are 30 working at McDonald's, you are seriously out of touch.
what this guy is saying is wildly incorrect on SOOO many levels. You absolutely at 65 right now can retire with 1.6M. If the goal is to retire as a holloywood star than you have other problems but YOU should not be saying that is THE GOAL.
If you have no debt own ur own home and live a simple life 1.6M is 100% retirable. Now if u r 40 now with 1.6M and want to retire at 65 with out saving anymore that money will still grown for 25 more years. that would triple by that time frame.
All of ur examples are an example of someone that either doesnt know math or is just saying REALLY out of place stuff for the algorithm.
I think there is a lot to say here. What you are saying is objectively wrong, and locally right. In a LCOL area sure you can swing by, assuming you don’t get cancer or have a health issue. Otherwise, i objectively don’t think the math agrees. But it depends on one’s risk tolerance in burning the initial asset through retirement.
@everydayentrepreneur101 except what I am saying is backed by actual math. You are saying litteral nonsense with out saying anything.
@@macruizphotography zero chance you can retire at 65 with 1.6. Remember you start drawing in retirement that 1.6 will disappear quickly
@DKK it really show how little you ppl understand basic math.
My parents have nowhere near 1.6m and yet they are retired and living comfortably and travel.
Some of yall need to touch grass