Do you think $100,000 in cash savings seems like a lot for a 25 year old?

Question

Static_In_The_Attic · Accepted Answer

Having 100k in savings for a twenty five year old or for anyone older or younger is absolutely wonderful & most of all well done. If you need a vehicle it’s great because BOOM you can pay cash. If you need a down payment on a house BOOM you can do it. If you are ever out of work BOOM you have money to fall back on.

On the flip side I would be a little disappointed if it were sitting collecting dust in a regular savings account & not making money or if you had any loans outstanding such as a mortgage, college, credit card or vehicle loan.

ohshee · Accepted Answer

I think if you invest it in something smart you would be wise so if $100,000 equals 2 seconds
1 million dollars equals 9 seconds
1 billion dollars equals 37 days
Looking at it like this it doesn't seem like a lot but if you do the right things with it you're doing very good

DeeDeeDeVour · Accepted Answer

That's more cash than I amassed on my own (from work & investments) at that age. However, I already owned real estate which definitely increased my net worth beyond my disposable liquidity.

MadinaHasABensheer · Accepted Answer

I wouldn't go around boasting if I were you. But to answer you're question yes, it is a lot. I would keep it safely in a bank account for obvious reasons.

MrOracle · Answer

Yes. More than half of American adults don't have $500 in cash savings.

NewgodX · Answer

That's good money but not enough  At least when I was 25 this amount won't mean much for me

Mango-man · Answer

In my country it would half the amount you need for a smaller apartment.

summiter · Answer

Good for them... invest it wisely

abc3643 · Answer

Yes, that is excellent! Whatever you are doing, keep it up until you die!

Pnp4unMe · Answer

No not really, at that age I had 7.2 million in the bank

slatyb · Answer

It’s a good start. It’s enough to go a year without working. This is the freedom to quit a job without having another lined up.

Cherry234 · Answer

Yes that's a lot. That's very impressive for a 25 y/o

shepardmaddison · Answer

It is a lot...

Fireguy17 · Answer

It's a good start, that is usually more than most people that age have.

exitseven · Answer

Yes, it is very good.

FilmGuy93 · Answer

Yeah, that's pretty decent

RHK36 · Answer

Yes it's pretty good, hopefully that most of it is being invested otherwise it's a waste.

Iknowbestgirls · Answer

I'd say it's a pretty good amount to get started to be in your own.

bolverk · Answer

Would depend on how long that person has been earning a wage and if they live frugally, I started work at 16 was a time served General/Marine Engineer by the time I was 22, added 1more year on hydraulic/pneumatics training worked on overseas contracts where I did not need to buy anything as housing and food was included in the contracts and I was on £75k a year tax free so most of that went into savings.

Jay3344 · Answer

Yes, I would consider that to be a good amount of savings

Wise4myage · Answer

Its actually really good in my opinion.

kellytheman · Answer

Yes I say that is quite a good sum of money. I never have that kind of dough. My mom actually had about $100,000 in a trust fund when her dad died. She was about 26 when she got it.