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    (Original post by Bill_Gates)
    £240k net worth
    Close to one million net worth. (But that's Canadian dollars which aren't what they used to be!) But I'm older than 24. At 24 I had sweet FA.

    So, if I can borrow from Harry Enfield and close by saying "I'm considerably richer than yaow"
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    I'll probably have more savings by next August than I will when I'm 24.
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    (Original post by Howard)
    Close to one million net worth. (But that's Canadian dollars which aren't what they used to be!) But I'm older than 24. At 24 I had sweet FA.

    So, if I can borrow from Harry Enfield and close by saying "I'm considerably richer than yaow"
    How old are you Howard?

    That's pretty impressive minus debt.
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    (Original post by Bill_Gates)
    How old are you Howard?

    That's pretty impressive minus debt.
    Early 40's. I told you I was an old git!

    I should really have a NW of $1.5 million but I lost at about half a million in the recession.
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    (Original post by Howard)
    Early 40's. I told you I was an old git!

    I should really have a NW of $1.5 million but I lost at about half a million in the recession.
    Ouch - many people did though. That's still pretty impressive in comparison to the world. But that's pretty normal for Canada now.

    As long as you're happy
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    There's no reasonable answer to this question because it implies you should save just for the sake of saving towards an imaginary figure plucked out of thin air. I don't think there's any point in doing that. You should have a goal that determines how much and why you are saving, e.g. to get the deposit for a house, to fund your postgrad degree, to travel around the world for a year, to start a business, etc etc. Life is too short to save just so that you can admire the balance in your bank statements. The goal should be to spend it in a meaningful way.
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    (Original post by Bill_Gates)
    Ouch - many people did though. That's still pretty impressive in comparison to the world. But that's pretty normal for Canada now.

    As long as you're happy
    Well, I've got one more year of work in front of me and then I'm semi-retiring in December 2016 - I'll be working shorter term contracts (6 months on, 6 months off sort of thing) from then. So yes, I'm pretty happy about that.

    I've been working on the road, often a 5 hour flight from home, putting in 70 hour weeks for 15 odd years so I'm well ready to slow down a bit. Right now I work 21 days straight - 12 hour days and then get 7 days off. I'm slamming in over 3000 hours a year which is nuts really!! Seven days off is nice but working 21 days in a row for 12 hours a day is brutal.

    I'll be glad to do other things with my life and enjoy some of the fruits of my labour.

    You didn't tell me how old you are but I'm guessing quite a bit younger. If you have a net worth of 250k already you're doing phenomenally well. I didn't really have a pot to piss in until I was about 30 so keep at it!
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    (Original post by Howard)
    Well, I've got one more year of work in front of me and then I'm semi-retiring in December 2016 - I'll be working shorter term contracts (6 months on, 6 months off sort of thing) from then. So yes, I'm pretty happy about that.

    I've been working on the road, often a 5 hour flight from home, putting in 70 hour weeks for 15 odd years so I'm well ready to slow down a bit. Right now I work 21 days straight - 12 hour days and then get 7 days off. I'm slamming in over 3000 hours a year which is nuts really!! Seven days off is nice but working 21 days in a row for 12 hours a day is brutal.

    I'll be glad to do other things with my life and enjoy some of the fruits of my labour.

    You didn't tell me how old you are but I'm guessing quite a bit younger. If you have a net worth of 250k already you're doing phenomenally well. I didn't really have a pot to piss in until I was about 30 so keep at it!
    That's cool fair enough if you want to take it easy i would too. I'm 24 soon to be 25. I have more than 200 atm but i started work when i was 16 and work literally 6-7 days. Hoping to take it easy soon too but just a normal 5-6 day week Killed me working whilst at uni.

    Tbh the numbers don't mean much to me i just like to compete and do the best i can. We live in a funny money economy. If you buy a house in the right location you might one day become a millionaire but doesn't mean you worked the hardest you just got lucky. Even if i amass a decent some of wealth it won't change me i will give it away if i feel it's too much. I already do. I prefer the quiet life lol.
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    (Original post by Bill_Gates)
    That's cool fair enough if you want to take it easy i would too. I'm 24 soon to be 25. I have more than 200 atm but i started work when i was 16 and work literally 6-7 days. Hoping to take it easy soon too but just a normal 5-6 day week Killed me working whilst at uni.

    Tbh the numbers don't mean much to me i just like to compete and do the best i can. We live in a funny money economy. If you buy a house in the right location you might one day become a millionaire but doesn't mean you worked the hardest you just got lucky. Even if i amass a decent some of wealth it won't change me i will give it away if i feel it's too much. I already do. I prefer the quiet life lol.
    Well, fair play to you.
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    By 24, I want to have 9K in stock, 3K in bonds and the rest (maybe 3-4 K in cash)
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    It entirely depends on what job you're in and (by extension) your income.

    A 24 year old, 3rd year IBD Analyst will have a vastly financial different profile to someone who just finished their Marketing grad scheme, who'll in turn have a different profile to someone working a bog standard office job in Newcastle.

    I'd personally aim for £40-60k net assets by then, I already have ~£25k locked up in an ISA.


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    ~100k or so (as Above, 3rd Year FO analyst at a BB/Analyst at a mega HF/PE Fund) or less if I go to the Management consulting route (most likely, as i like it more).

    I aim to be frugal af, spending below my means on a tight budget. Never had much money in life so i understand the importance of it.
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    I already have ~£25k locked up in an ISA.
    A cash ISA?
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    (Original post by Snufkin)
    A cash ISA?
    Some cash, some stocks and shares.
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    If you have no benefactors, then it depends on your job. If you have less than £100 left over each month, it's as good as nowt so stop worrying.

    Enjoy your life.
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    (Original post by Princepieman)
    Some cash, some stocks and shares.
    You don't mind the bad rates in cash ISAs?
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    (Original post by Snufkin)
    You don't mind the bad rates in cash ISAs?
    Not really, the tax free allowance makes up for it I feel. I'd ideally be managing it via exchange traded funds/tracker funds but I'm too busy at the moment.



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    (Original post by SophieSmall)
    I don't think it is possible to put a "should" on it, as everyone's situation is different. Someone with an income of 30k a year from the age of 21 could very well save 10k up within 3 or 4 years if they are frugal and don't live in a rip off area. But someone on a lower wage or minimum wage job may not be able to save very much at all if they rely on their single income.

    I don't think there really is a figure everyone should aspire too, instead I think everyone should aspire to be smart with their money and to save where they can in an effort to be as financially secure as possible.
    I agree.
 
 
 
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