Thread 60492783

is 200k USD saved at 25 with zero other assets good?
i want a serious non- meme answer. it feels like everyone i see online or irl is either a "real adult" married with their own place and a nice car or so broke they panic at the thought of buying a lunch. live in a very expensive area but still with my parents, work min wage and currently in community college because i was too dumb for real uni.

Are you debt free
Congrats youre more ahead than most of the United states human population

>>60492783 (OP)
200k?
At 25?
Bro. You get paid 50k a year in any random factory.
What did you do with the other 150k? Not to mention interest?

>>60492786
Yeah. Not American thougheverbeit. Where I live inheritance laws also mean the gubberment will probably steal my parents house when they pass. Certainly could not afford utilities and insurance anyways.

>>60492792
I've worked shitty retail jobs for the last 10 years. My college is only 2k a year, I have a shitbox car too. Very few expense outside of that. 99% of my wealth is stock in energy companies I got lucky with/the boomers who told me to invest in them knew what they were talking about.

>>60492783 (OP)
You're good. I'm 38 and only have ~$300k... so maybe I'm one of those 'so broke they panic at the thought of buying a lunch' people you mention.

>>60492783 (OP)
You’re pretty much me but 2 years younger but I make 6 figs rather than min wage for my job. You’re doing really well but you need to understand that $200k is a good amount of money but won’t satisfy you. You can’t really afford a decent home if you’re making min wage and have $200k so I would continue investing it hoping you break the $1M mark in the next couple of years. Once you hit $1M you have 3 routes buy house straight up for $500k, get a mortgage put $100k down for a $500k house and hope your investments go up more (I would recommend this if you had a higher salary to pay off the mortgage), or just get a $25k-$30k a year apartment hoping your money will continue to increase.
You’re way better off than the majority of the pop but you still need to be smart about your money and keep trying to climb that latter because it’s not enough

>>60492819
>buy house straight up for $500k
houses where I live (leafland) are 1.5 million minimum without tax. capital gains in my province is also cucking young people out of anything their parents bought back when the market was normal in the 80s and 90s.
But thank you for the insight

>>60492825
Yeah you’ll need to increase your range then. My area a good home is about $800-$1mil was just using $500k as a ref. So if you want to eventually gets a $1.5 million home I’d recommend getting at least double that in cash which will be hard since it’s more than a 10x but time is on your side. Just don’t gamble it all on some random shitcoins be smart you probably can get there by your 30. I know it sounds crazy but it is doable

>>60492783 (OP)
If you don’t have at least 500-750k (bare minimum) by 25 you might as well give up. You are simply ngmi tbqhwy.

>>60492783 (OP)
Should have close to 1 million by then. Good luck catching up

>>60492793
nigga wat. where on earth do they take your parents house (if you intent to live in it)?

>>60492783 (OP)
> guys I have $200k saved but I'm still a loser is that good?

>>60492799
Good job anon you're doing well

>>60492783 (OP)
So effectively a net worth of 200k, by 25?

I would say reasonable but not all that impressive. You can rest assured that you’ll likely have options in the future, but that somewhat hinges on your ability to turn your income into something other than minimum wage.

>>60492783 (OP)
I had 2m at 23, now 350k at 27
Gaining is only one piece of the puzzle

>>60492825
Where in Canada? Toronto or BC?

>>60492783 (OP)
>is 200k USD saved at 25 with zero other assets good?
kid you're doing better than 99% of larpers on this board. most "real adults" you see flexing are drowning in mortgage/car debt while you've got actual liquidity. that said:

>live in very expensive area but still with my parents
this is your secret weapon. the rent you're not paying is basically free compounding time.

>work min wage and currently in community college
here's the bottleneck. 200k is a god tier headstart but min wage won't cut it when mom's basement isn't an option. good news is you only need to 3-5x your income to make that stack work long-term.

>everyone i see online is either rich or broke
survivorship bias. the 30yo "successful" guys posting tesla pics are usually one paycheck from disaster while the broke trolls are 17 year olds with no skin in the game. you're in the sweet spot, actual savings with time to grow.

>what to actually do
1-keep 50k in boring boomer ETFs as your "fuck you" money
2-throw 10k at risky plays (actual crypto, not just shitcoins, though a tiny kaka bag won't hurt)
3-use the rest to escape min wage hell. tradeschool/tech certs can 6x your income faster than college.

>but muh 1.5M houses
geoarbitrage bro. your stack would buy a mansion in portugal or thailand tomorrow. either skill up to local prices or consider mobility.

tldr: you won at step 1 by not being debt-pilled. now play the long game.