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MoeCugar's avatar

How much money should a 22 year old have ?

Asked by MoeCugar (139points) September 24th, 2017

I got 20k. I’m just trying to see where I should be right now.

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17 Answers

Dutchess_III's avatar

Good start. I think I had $1,000 saved by the time I was 22.

Where did you get 20K?

MoeCugar's avatar

Been working and saving since i was 16

Darth_Algar's avatar

When I was 22 I never had more than a few hundred bucks at any given time. $20k is a good start is you’re smart about it.

MoeCugar's avatar

It hasnt been easy saving up. But i plan on investing on a house soon and rent it out

Dutchess_III's avatar

Well, you’re in a much better place than most 22 year olds @MoeCugar. Good job.
Sounds like he’s pretty smart about it @Darth_Algar!

JLeslie's avatar

$20k sounds good. I had just over $1,000 when I was 22.

RedDeerGuy1's avatar

I had $2,300 when I was 22 I was working a full time job that paid $7.75 an hour.

johnpowell's avatar

When I was 22 I was a janitor making 8.25 a hour and living in my sisters garage. But I was also putting myself through college. I had no savings.

MoeCugar's avatar

I started working when I was 16 in a pizza store making 8$/h. The reason why I got to save up alot is because im still living with my parents. I dont really spend on anything aside for helping my parents with their bills. Now i’m currently working full time 16$/hour while being a full time pharmacy student. Once i get my degree i’m sure my savings will spike.

johnpowell's avatar

Good on you for helping your parents out.

JLeslie's avatar

A good goal for an adult responsible for all of their expenses is at least 6 months in savings (easily liquid, this is aside from any IRA, HSA, or 401k money) for a rainy day like losing your job. That’s almost impossible for most people in their early 20’s, but you’re ahead of the curve. That’s good.

janbb's avatar

@MoeCugar Sounds like you’re off to a good start.

chyna's avatar

Good job! I doubt I had anything in my savings account when I was 22.

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kritiper's avatar

See a financial adviser and invest for your future.

flutherother's avatar

$20k sounds very good for 22 and is certainly more than I had at that age but it isn’t just about money. Have you got good qualifications, a secure line of work and do you have property or other assets?

ARE_you_kidding_me's avatar

At 22 I had zero but by 23 I had about that. Be smart with it!

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