I'm 20 and running a web design company. I was just wondering how much does the average 20 year old usually have saved up?
2006-09-10 17:34:26 · 15 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
If you stick in 20's mind you will be rich, but if you don't... Ouch!!!
Good Luck!!!
2006-09-18 03:15:06 · answer #1 · answered by TRANSLOPEDIA 4 · 0⤊ 0⤋
Hardly any 20 year olds earn enough to make any savings.
I had none when I was 20. But if you are running a web design company it may be different for you.
2006-09-10 17:40:38 · answer #2 · answered by Anonymous · 1⤊ 0⤋
At 20 years old, I wouldn't think you would have any long term savings. If you are going to college, then you are probably in debt. If you are working, then you may have a thousand dollars saved to buy a house or just move out of your parents place to your own apartment. Either way, going to school or saving some money, you are working on your future. But I don't think anyone would expect a 20 year old to be working on retirement. Not yet.
2006-09-10 17:45:17 · answer #3 · answered by anim8er2 3 · 1⤊ 0⤋
Not a lot. Most 20 year olds aren't earning much and haven't been working for very long. I wouldn't really worry about MOST 20 year olds....I'd really just focus on one 20 year old (yourself).
A more important question might be....how much money should a 40 year old (who's been running a company for two decades)have saved?
2006-09-11 00:26:45 · answer #4 · answered by derek 4 · 3⤊ 0⤋
Minus $3000-00
2006-09-10 17:42:08 · answer #5 · answered by J.SWAMY I ఇ జ స్వామి 7 · 1⤊ 1⤋
Well im 24 and at the age of 20 i was making about $40,000 plus a small income from doing computer repair work on the side that amounted to about $10,000 a year and had been since i was 18. Living at home with no real bills i had saved most of my money till about year ago, i payed cash for a house. but at 20 i had around $45,000 saved.
2006-09-10 17:40:07 · answer #6 · answered by Evil D 4 · 0⤊ 5⤋
i'm 19, when i was 15 i quit school to work with my hands not pens and paper and it's the best thing that could have happened to me i got a decent resume and just put the deposit on my first home. until a week ago i saved 47,000 for my first house.
2006-09-10 17:40:23 · answer #7 · answered by Anonymous · 3⤊ 1⤋
Well personally I'm $120,000 in debt. So no matter what you've got you should be better off than I am! Good old student loan! Haha hehe!
2006-09-10 17:39:54 · answer #8 · answered by Glen 1 · 1⤊ 1⤋
depends on how long you have worked and how much income you have derived from it.
10% per paycheck is an established savings rate goal.
2006-09-10 17:35:52 · answer #9 · answered by Anonymous · 0⤊ 1⤋
There's not an answer to that question that would cover everybody. It all depends on your lifestyle and goals..
2006-09-10 17:41:28 · answer #10 · answered by ? 5 · 0⤊ 0⤋