I am 35 years old and have a net worth of around 2 million dollars. I live in the bay area. Is this a good net worth for my age?

Updated on : December 6, 2021 by Alfie Ross



I am 35 years old and have a net worth of around 2 million dollars. I live in the bay area. Is this a good net worth for my age?

I think this is a pretty decent net worth …… .. if you live anywhere except the San Francisco Bay Area. the problem with the bay area is that it is prohibitively expensive to live there. I am 34 years old with about the same net worth, and living in the Bay area was quite a challenge, even though I was born and raised there with a great family support system. My husband and I paid a hefty mortgage on a house worth 1.8 million. It was a 1500 square foot 80 year old house, in need of continuous work, in a terrible location (high traffic street, bad schools, high crime). Our combined income is really high. We decided it was time for me

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I think this is a pretty decent net worth …… .. if you live anywhere except the San Francisco Bay Area. the problem with the bay area is that it is prohibitively expensive to live there. I am 34 years old with about the same net worth, and living in the Bay area was quite a challenge, even though I was born and raised there with a great family support system. My husband and I paid a hefty mortgage on a house worth 1.8 million. It was a 1500 square foot 80 year old house, in need of continuous work, in a terrible location (high traffic street, bad schools, high crime). Our combined income is really high. We decided it was time to move out of our miserable little house that didn't even fit the two of us, much less the family we were expecting. We looked around and discovered that even with a ridiculous income we could not afford a house much larger than the one we live in without paying every penny we earn on the mortgage. (An older 2,200-square-foot home in our neighborhood sells for around 3+ million. I encourage everyone to look up the value of Palo Alto homes in Redfin if you want to laugh. We didn't even live in Palo Alto.) That's when we decided to make him leave California. For us, leaving California was what made that $ 2 million net worth rich. (An older 2,200-square-foot home in our neighborhood sells for around 3+ million. I encourage everyone to look up the value of Palo Alto homes in Redfin if you want to laugh. We didn't even live in Palo Alto.) That's when we decided to make him leave California. For us, leaving California was what made that $ 2 million net worth rich. (An older 2,200-square-foot home in our neighborhood sells for around 3+ million. I encourage everyone to look up the value of Palo Alto homes in Redfin if you want to laugh. We didn't even live in Palo Alto.) That's when we decided to make him leave California. For us, leaving California was what made that $ 2 million net worth rich.

A family member lives in a house that is worth between 4 and 5 million dollars. It is not nice, it is just well located. In addition to being the full owner of that home, she has a net worth of $ 2 million. She accepts tenants to make ends meet so she can save her millions for retirement. That is the Bay Area.

The numerical value of your net worth doesn't mean anything if you don't have purchasing power. Despite having $ 2 million, we had very little purchasing power in the Bay Area.

That does not mean that everyone should flee the Bay Area. If you have a job that brings you high income, you are much better off staying there, owning a home there (some may tell you to rent it, personally I have never seen this job in favor of anyone long term) eventually selling, collecting and move somewhere where all the money you made and saved is significant. If you can leave now and take your salary with you, live somewhere else but still invest there, that's even better. Bottom line: If you don't have an explicit income-generating reason to live there, the taxes and high cost of living aren't worth it.

If investments are your main source of income, you would be much better off in a state like Washington. The taxes are much lower, your money goes further (when you own a six million dollar Palo Alto home, what do you think your property taxes are? Not to mention my house cleaner was charging $ 40 per hour , taxes are highest in the nation, restaurants were more expensive. And have you set the price for childcare? Or, if you are not in a good school district, private schools?) Remember, you can still Investing in Bay Area real estate and businesses without having to be there and suffer the cost of living. We are.

However, 2 thousand is still 2 thousand. Payday comes when you leave the Bay Area. Unless you invest so well that you turn that 2 into 20, then you can easily afford life there, or almost anywhere. But with $ 2 million at 6-10% interest, you'll need more than that to survive there long-term. Unless you want to be like my family member and rent rooms to support yourself.

You have more net worth right now than most people will ever have, even in the Bay Area. Of course it is a good net worth. It's a great net worth. Jesus.

However, I suspect it is comparing to 0.001% at this point, which is one of the traps of getting too rich too soon. It is a trap in the realm of traps. You're on your way to becoming one of those idiots who laments that 10 million isn't what they used to be, and how it's so much work to maintain five fancy houses and send the kids to daycare, and who will go through

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You have more net worth right now than most people will ever have, even in the Bay Area. Of course it is a good net worth. It's a great net worth. Jesus.

However, I suspect it is comparing to 0.001% at this point, which is one of the traps of getting too rich too soon. It is a trap in the realm of traps. You're on your way to becoming one of those jerks who lament that 10 million isn't what they used to be, and how it's so much work to maintain five fancy houses and send the kids to janitorial daycare, and that it will throw everyone underneath. the bus to get another tax break.

Please. Get over. Now. Please. Only for. You are rich. It belongs to me.

I feel that if you have that much money at this age, you are already fiscally responsible and would know how to go to some advisers instead of the Internet to get a clearer answer. Yes, this amount is better than most, especially at his age. However, he also has 60 years ahead of him, and what he does with that money between now and then could radically affect his future. It's a great net worth if you're still building assets and not spending capital. If you don't have a trusted financial advisor, get one. For decent internet-based financial advice, you can refer to www.reddit.com/r/personalfi

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I feel that if you have that much money at this age, you are already fiscally responsible and would know how to go to some advisers instead of the Internet to get a clearer answer. Yes, this amount is better than most, especially at his age. However, he also has 60 years ahead of him, and what he does with that money between now and then could radically affect his future. It's a great net worth if you're still building assets and not spending capital. If you don't have a trusted financial advisor, get one. For decent internet-based financial advice, you can refer to www.reddit.com/r/personalfinance

Simply put, yes, you are doing well right now. Don't please him.

No, if you want a good retirement, at 35 you should be at 5 million or more. You will be surprised how expensive a good retirement home can be, and don't get me started if you have dementia. The one my grandmother went to eat through her fortune at the rate of $ 8000 a week and that wasn't even that fancy, so good luck with your future, poor boy.

Congratulations! that's a great net worth at ANY age. Now your focus should be on wealth preservation, not wealth accumulation. Over the next few decades of your life, if you invest in quality financial products, you will see your net worth double many times over. You may want to consider moving to a more affordable quality of living area that increases your many options for enjoying your life.

I think this is called humble bragging….

Demographic data is available to assess your net worth relative to others. The United States Census publishes these data.

35 years old and a net worth of around $ 6.7 million. I built most of this wealth in real estate investments, but I work in IT. I have a beautiful wife and 2 young children. We live in a waterfront property on Sydney Harbor and drive a nice car. We both work high paying jobs and have enough disposable income to buy most of the things we want. The breakdown of net worth looks like this:

Home: 2.5 m

Investment house: 4m

Investment house 2: 1m

Vacation home: $ 200,000

Cars, watches, art, etc. $ 500 thousand

My home loans are repaid, so I have no cash

Household loans: 1.5 million

Salary: $ 250K + Other investments and businesses + rent in

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35 years old and a net worth of around $ 6.7 million. I built most of this wealth in real estate investments, but I work in IT. I have a beautiful wife and 2 young children. We live in a waterfront property on Sydney Harbor and drive a nice car. We both work high paying jobs and have enough disposable income to buy most of the things we want. The breakdown of net worth looks like this:

Home: 2.5 m

Investment house: 4m

Investment house 2: 1m

Vacation home: $ 200,000

Cars, watches, art, etc. $ 500 thousand

My home loans are repaid, so I have no cash

Household loans: 1.5 million

Salary: $ 250K + Other investments and businesses + Rental income of $ 100k per year

My story

Growing up I became obsessed with success. I was lucky that my parents (who own their own business) instilled in me the confidence that I could do absolutely anything I set my mind to. This manifested itself in the belief that he could have anything. As such, I invested in properties from a young age, but more importantly, I become obsessed with anything that interests me. I'm sure it's very difficult for my wife to deal with this, but it basically means that once I decide that I want something, I learn absolutely everything there is to know about it. I research everything, dive into the data, and meet as many people as I can who know it. This has led to many good financial decisions in my life over the years.

To illustrate the level of my obsession, as a child I loved cars, so I would buy Top Marques magazine every fortnight (UK car classifieds). I learned the price of each car in the magazine, this meant that at the age of 10, you could ask the price of a particular car and it could tell you everything there was to know. How many cars were for sale, the lowest, average and maximum price available, age, colors, etc., etc.

I never intentionally bought any of my real estate as an investment but bought it for a living and then when it came time to move on, I was lucky enough to be in a position to keep it. They are also spread all over the world, so I have an investment house that is worth much more than my current house. That was only due to a boom in that market. As mentioned above, my obsessive nature has meant that every property I purchased was intensively researched and as such we have seen significant capital gains over the years and highly profitable rental returns as well.

So the point of this was not to brag at all, but to highlight the reality of it all, which is ...

I am not happy. As with most things, we set a goal, reach it, and then pursue the next goal. It is a race to infinity and it is exhausting. You think happiness is around the corner, but it never is. The only thing I have learned is that this life is not what I want for my children. My hope is that they do something they love, regardless of earning potential, that they love people and value experiences more than material things.

My wife and I have made the decision to quit our jobs and change our lives completely. I am sure that the above story is the dream of many people, but you must understand that everything has a cost. The cost to my life is that I struggle to focus, I forget important events, I don't sleep, I struggle to spend time with my children without distractions. In our new life I want to focus on the basics. I want to grow our own food, spend real time with my family, and invest a lot more in real life experiences.

It's okay. I agree with what Mike said, except ... "I live in the Bay Area."

The fastest way to increase your net worth on the Yay is to get Stoopid, Go Dumb, and oh wait, buy a home. Yes, the prices feel pretty high right now, but the leverage created by having a fixed-price asset that provides a basic need is impressive. Over time, you gain more leverage as inflation drives up the price of everything except your mortgage note (you got a fixed rate, right?). If you can buy a cash-flowing investment property in advance of your home, you're really taking it out of the park. Think 3 or 4 plexes in a community

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It's okay. I agree with what Mike said, except ... "I live in the Bay Area."

The fastest way to increase your net worth on the Yay is to get Stoopid, Go Dumb, and oh wait, buy a home. Yes, the prices feel pretty high right now, but the leverage created by having a fixed-price asset that provides a basic need is impressive. Over time, you get more leverage as inflation drives up the price of everything except your mortgage note (you got a fixed rate, right?). If you can buy a cash-flowing investment property in advance of your home, you're really taking it out of the park. Think of three or four elements in a community with the highest potential for appreciation. See some of my other posts for ideas on how to do that.

Typical appreciation is leveraged and tax-advantaged, so you'll quickly find that you have enough capital to buy another investment property. As you continue to work hard at your job, you suddenly have the happy circumstance that the "market" provides you with additional income. "But wait!" You say. Taking money out of houses is how the last accident happened. Well, most people took out money to maintain a reasonable standard of living that their job couldn't provide (even wage growth). They borrowed against the cash flow of their job, which inevitably couldn't keep up with the escalating payments. In your case, you are using your assets as a lever to increase your salary with additional cash flow. This is how you increase your net worth.

Here is why it is important. The one who increases his net worth the fastest is the one with the most purchasing power. Getting good returns on your capital is not only good or advisable, it is a competitive imperative. The Fed may argue low inflation for a basket of commodities, but all the valuable experiences in the Bay (or the world for that matter) are constantly being priced in by a competitive global market, so those with the most capital go opportunities. .

I really wish things were a bit more sensible and there were more opportunities around the world, but today the accelerating trend of increasing returns for the few is alarmingly obvious.

Therefore, your question is quite relevant and pertinent. My answer is what has worked for me. If you find another way to increase your net worth more than 10 times in 5 years, please send me a message.

I have read some articles that give guidelines based on age. I may be wrong, but I think it goes for 30 1 times the current salary, 40 3 times the current salary, 50 5 times the current salary, 60 8 times the current salary and 67 10 times the current salary.

I was talking to a co-worker and I mentioned this and that I was behind these goals, he had a simple solution, just get a job at McDonalds when he turns 67 and he should have more than 10 times my salary back then.

Personally, I would try to meet the above guidelines at the very least, and would strive to aim for 20 times the current salary at 67, of course you would bet more.

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I have read some articles that give guidelines based on age. I may be wrong, but I think it goes for 30 1 times the current salary, 40 3 times the current salary, 50 5 times the current salary, 60 8 times the current salary and 67 10 times the current salary.

I was talking to a co-worker and I mentioned this and that I was behind these goals, he had a simple solution, just get a job at McDonalds when he turns 67 and he should have more than 10 times my salary back then.

Personally, I would try to meet the above guidelines at a minimum, and would strive for 20 times your current salary for 67, more of course would be better, but if you are on the right track for the 10 times your salary number, you should Being able to cope with retirement even though you probably don't have a lot of money left over and you are not passing a lot of money to your heirs. But at 20 times your salary, you should feel pretty comfortable in retirement, and your heirs will be happy to spend what you have left over.

Some good ideas:

Don't beat yourself up for being behind, just try to get on your way. And at 35, you still have time on your side to help you get there.

I like Live Debt Free by Dave Ramsey. Listen to the radio show or search for it online. My summary: Pay off all your loans as quickly as possible and strive to never finance anything you buy, if you finance a home, do it as quickly as possible. They also have guidelines for an emergency fund and budgets, all kinds of good things. You are probably better off following what they have to say than the rest of what I list below.

If you can put money into a 401k or Roth 401k at work, do so and if your employer matches, try to invest enough to maximize the contribution if you can afford it. If you have the Roth option, you should consider putting at least some of your funds there, especially if you are on your way to having more than 10 times your current salary upon retirement.

If you don't have the 401k or equivalent option or if you can afford it, make the maximum IRA donation that you can afford or is allowed.

If you don't want to spend a lot of time managing your investments, a low-cost index fund (S&P 500) is a good option, and in the long run it will generally outperform anything else.

And in my opinion, most of those retirement year funds charge more fees and put you in a higher bonus percentage than you probably should pay. You'd better put a percentage of your choice into a good bond fund with that percentage increasing with your age. (I get my percentage by looking at how the funds are allocated in the funds intended for retirees 10 years younger than me.)

But don't take my word for it, I'm not a financial advisor or a millionaire (yet). Make sure you learn and use what works for you.

As a man in his 30s and 30s, this is my perspective on this.

Everyone starts out with a different amount of money, receives different parental support, and has a different career path. Some people leave 6-figure debt in college, while others go to less expensive schools and get scholarships. Some people started working immediately after obtaining their college degree. Others spent 5 more years in school to obtain a doctorate, or even more years to become doctors.

Some people live in Silicon Valley or NY, where living costs (and wages) are higher, while others live in rural areas with different

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As a man in his 30s and 30s, this is my perspective on this.

Everyone starts out with a different amount of money, receives different parental support, and has a different career path. Some people leave 6-figure debt in college, while others go to less expensive schools and get scholarships. Some people started working immediately after obtaining their college degree. Others spent 5 more years in school to obtain a doctorate, or even more years to become doctors.

Some people live in Silicon Valley or New York, where living costs (and wages) are higher, while others live in rural areas with different opportunities and lower wages.

Some people by the time they are 30 have obtained large inheritances from family members. Others are married and have children. (Others are NOT married and have children).

Some people got lucky because of the timing. Had I been born a few years earlier, maybe I could have been part of the tech boom in Silicon Valley in the late 1990s and made a ton of money from appreciating real estate and the stock market and selling myself at the right time. .

The point is that the results can be very different due to things that are not in someone's control.

So I think the important thing to consider would be the person's attitude about money, their level of responsibility, and the quality of the decisions they made. It would be better to consider questions like:

  • Does the person live a $ 100,000 lifestyle on a $ 50,000 budget?
  • Does the person constantly need to get money from their parents?
  • Does the person have an established reserve fund? Or a plan B in case your career doesn't turn out as expected?
  • Has the person kept their options open or is every penny tied to something without liquid?
  • Does the person do risky things with their money?
  • Does the person spend money just to impress people?
  • Does the person plan for the future?
  • When the person spends money, does he spend it effectively?
  • Is the person financially literate?
  • Does the person have the ability and ambition to earn a reasonable amount of money?


You can have $ 1000 in the bank and answer all those questions correctly, or $ 10 million in the bank and answer all those questions incorrectly.

However, to put a number on it, I would say that someone who has passed 20 and managed to accumulate a net worth of $ 100K is off to a good start.

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