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As a young adult, the median net worth is approximately $752, which places many in the bottom quintiles of wealth. This number can appear disheartening, but it's not uncommon in your 20s, especially when facing student loans. Remember, net worth isn't just about the cash you have on hand—it's the total value of your assets minus your liabilities.
If you're above the median net worth, congratulations! Strive for a net worth of $42,500 on the low end, reaching up to $250,000 to be among the top 5% by age 30.
Top Goals for Your 20s:
- Save 15% of Your Income: Start investing as soon as possible. Even saving $3,000 annually could grow to over $1 million by retirement, based on average returns.