Personal Finance

Age at which you saved your first $100,000

  • Last Updated:
  • Feb 9th, 2020 10:50 am
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Poll: At what age did you save your first $100,000

  • Total votes: 212. You have voted on this poll.
Under 18
 
11
5%
18-24
 
24
11%
25-29
 
75
35%
30-34
 
42
20%
35-39
 
15
7%
40-44
 
4
2%
45-49
 
2
1%
50-54
 
0
0%
55+
 
2
1%
I have not saved $100,000 yet
 
37
17%
[OP]
Member
May 25, 2011
216 posts
65 upvotes
BC

Age at which you saved your first $100,000

Recently hit this milestone after 3 years of diligent saving. Just curious how long it took everyone else, or if you are still reaching the milestone.
42 replies
Deal Guru
Dec 5, 2006
13436 posts
8810 upvotes
Markham
By "saved", you mean in savings account as cash or total asset such as investment?
[OP]
Member
May 25, 2011
216 posts
65 upvotes
BC
Total assets minus liabilities. Sorry, should have been clearer.
Member
Jan 4, 2017
366 posts
277 upvotes
Assets minus liabilities, so I think that could be considered as net worth.

>30 yrs old for me. I'm not very happy about that but I'll spare you the wall o text.

For all the youngins out there, the personal finance forums like this one and r/personalfinancecanada can be a treasure trove. You still have time on your side, so let the magic of compounding work for you, find the discipline to avoid the mistakes so many of us made and you'll thank yourself later.
Deal Addict
Jul 27, 2017
2180 posts
949 upvotes
OP if you were to ask that today to someone that is age 20, 25, 30, 35, 40, 50, 60, 70, 80+ year old person, you would get different responses, for the reason that $100k net assets 60 years ago would have been a far reach, 30 years ago doable & again what year & what age they were for your question.

so maybe a rephrase on the question might be - if you are between age 20 - 35 today, when did you reach that $100k net assets. or better still was it 10, 15, 20, 25, 30, 40, 50, 60, 70+ years ago with a what age were you at that time?

take me & the wife now in our early 70's, I dont think we hit $100k in net assets till we were in our early 30's (that's 40 something years ago) with only one of us working + one child, and at that time we likely were doing better than most since we were mortgage free, property prices around $85k where we lived in the GTA, with the then mortgage rates somewhere in the 15% ++ range maybe higher.
Deal Addict
May 16, 2017
2454 posts
3225 upvotes
A poll like this may be entertaining but given the vast variety of circumstances is going to have pretty much zero value on its own.
Deal Fanatic
Jun 24, 2015
7530 posts
2439 upvotes
0 downvotes
Age 25 to 29 i had 100,000 in Cash

would have hit it sooner but i had some locked up in my retirement investments aka rrsp, mutual funds ,etc, so if u include those, maybe age 24 ish? i had 100,000 in assets in total including investments and rrsps and tfsas and crap. but thats not the question is it?
Say NO to the WAR!
PEACE is the answer!
Deal Fanatic
User avatar
Mar 10, 2018
5129 posts
1596 upvotes
does it matter?
TylerK wrote: Recently hit this milestone after 3 years of diligent saving. Just curious how long it took everyone else, or if you are still reaching the milestone.
Age at which you saved IS? Mine 35
Tried new coffee and doughnut. Found same old stale thing. expected bill of six bucks but it was 600 million. Big mistake so the guy said don't worry it is on the house. going back to McD.
Member
Dec 5, 2017
266 posts
249 upvotes
Back when I was your age $100,00 was worth $200,000.... err wait, how does that work...

@porticoman don't overthink it, heck I'm certain a certain percentage of the polled will make up their numbers.
Deal Fanatic
User avatar
Aug 17, 2003
5590 posts
388 upvotes
Mississauga
zcypher wrote: Assets minus liabilities, so I think that could be considered as net worth.

>30 yrs old for me. I'm not very happy about that but I'll spare you the wall o text.

For all the youngins out there, the personal finance forums like this one and r/personalfinancecanada can be a treasure trove. You still have time on your side, so let the magic of compounding work for you, find the discipline to avoid the mistakes so many of us made and you'll thank yourself later.
TRUTH!
Sr. Member
User avatar
Jul 30, 2005
905 posts
677 upvotes
Downtown Toronto
Do another one called "Age at which you saved your first $1,000,000"

PS: Reddit is a sh!thole.
Deal Addict
Sep 11, 2006
2157 posts
818 upvotes
This thread probably makes every feel bad except the "under 18" people....which....how.
Deal Guru
Dec 5, 2006
13436 posts
8810 upvotes
Markham
Shadow Rider wrote: This thread probably makes every feel bad except the "under 18" people....which....how.
Or "whats the largest cash gift you ever got from family members?" Lol
Deal Addict
Jul 27, 2017
2180 posts
949 upvotes
Spiritwalker2222 wrote: Back when I was your age $100,00 was worth $200,000.... err wait, how does that work...

@porticoman don't overthink it, heck I'm certain a certain percentage of the polled will make up their numbers.
agree, I was having a senior moment overthinking it, age does this too me
robsaw wrote: A poll like this may be entertaining but given the vast variety of circumstances is going to have pretty much zero value on its own.
agree
Kestral wrote: Do another one called "Age at which you saved your first $1,000,000"
is the thread a parody?

'time is money'

like the song 'if I had a $1,000,000 (I'd be rich') recorded back in 1988 - that was 32 years ago - how many of you remember 1988 or were even born?

a newer version might be 'if I had $5,000,000' (I'd be rich)

.
Last edited by Guest37273939 on Feb 4th, 2020 2:56 am, edited 1 time in total.
Deal Addict
Feb 7, 2018
1126 posts
1924 upvotes
3 months old... would have been sooner but the hospital screwed up my birth certificate to open the bank account.

/s

Seriously though - why does everyone have to compare against people at age XXX. Live your life, make smart decisions, and stop worrying that you’re ahead or behind. If you’re a decent human being, nobody worth your time will care how fast you make money or how ahead you are.
Deal Addict
Jun 18, 2018
1559 posts
986 upvotes
Toronto
Very circumstantial since some people would live at home and be able to save up more, etc.
Deal Addict
Jan 29, 2006
1866 posts
1525 upvotes
Center of the univer…
Electrah wrote: Very circumstantial since some people would live at home and be able to save up more, etc.
yea was just going to the say the same, do the ones under 30 also own a home? Had to make a down payment etc.? Do they have a mortgage?
Sr. Member
Sep 29, 2015
530 posts
614 upvotes
Toronto, ON
This thread is such an RFD flex. I’m like, halfway there and 29. No handouts though, and started with a bit of student debt.

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