Interested to gauge everyone's thoughts regarding how much a couple who are both 35yr old, no kids should be worth (total assets inclusive of super, less debt)? All this talk of inflation, cost of living, house prices got me thinking….are we ahead or behind in life.
How Much Would You Expect a 35yr Old to Be Worth?
sydsm on 16/06/2022 - 16:22
Last edited 16/06/2022 - 16:23
Last edited 16/06/2022 - 16:23
Poll Options
- 43Less than $100k
- 58$100k-250k
- 201$250k-500k
- 79$500k-750k
- 28$750k-1million
- 39$1m-1.5m
- 305More than $1.5m
Comments
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correct - alot of ways to break it down. Guess im looking for general consensus / opinion etc.
How is that working out for you?
Perfectly fine :)
General opinion, not a definitive survey - hope you took something away from the thread.
@sydsm: Title says "a 35 year old"(one person)
Description says couple.Which is it?
The results are now invalid as you don't know if people voted based on an individual or as a couple.
Can't find any 35yo deal on ozb, anyone got the links?
Don't meant to be pedantic, but a net worth of -$1.5m is a terrible and also a highly unlikely situation to be in.
I know what you mean is that they would have a house and be for an example purpose, -$1.5m in debt (unless someone has $1.5m student loans), but remember this debt doesn't solely contribute to one's net worth.
The associated house also has a value (likely at least 10% more than the initial debt amount itself given 10% min deposit requirements), and unless that house has collapsed in value, would result in a bare minimum equity position of $150k.And in almost all situations that one goes into severe negative net worth, a more effective solution is to just declare bankruptcy and start over, so realistically reaching -$1.5m is a hard thing to do
How long is a length of string…
Every piece of string has a length.
Yes, but how long is it?
It’s usually as long as half it’s length measured twice.
@El cheepo: What if the string has been overstretched or got wet and shrunk a bit? It won’t be its true length.
Show me the string and I'll tell you.
From one end to the other.
Which one?
Post a pic as attractive people are scientifically proven to be worth more than the less attractive.
Ah this is an OzBraggin post then, I'm out.
My net worth just dipped into the negatives thanks to this comment
That's why I have posters of Clive Palmer in a Borat swimming onsie on my wall.
I havent bought any 35 year olds before. Post up if you've found a bargain and i'll impulse buy!
must be natural redheads.
I'm a natural redhead but 39 and a bloke. Doubt you would purchase me.
Only females are redheads. Males are rangas.
I would like to know if kids would raise or lower the going price for the 35 year olds. Could put the kids to work for cheap, but some kids also eat as much as an adult would.
Depends
are we ahead or behind in life.
stop comparing yourself to others, life is easier once you are content with what you have
Stand up all Ozbargainers who are content with what they have.
I am, but I guess I'm not the example you're looking for.
Great reply. There is no satisfaction if we keep comparing as there will always be someone with more.
I’ll agree people should stop comparing themselves to others.
But simply being content with what you have is rather sad.
I feel we should be happy with what we have, but not settle for being content with it. If you can have/achieve more, then you should strive to get it. Not just be content with what you already have.
are you assuming all 35 year olds earn the same salary, have the same education and also live in the same city?
As if so, that would make this comparison meaningful…….generally, if you have to ask this question, then you're either behind or ahead, and you already know which one that is personally
According to the 35yo, with all assets and savings, I would say, maybe $100k~ish.
If they have Boomer parents, their parents will probably wonder why their 35yo child doesnt have 15 houses and a luxury BMW and sending their grand-kids to the top private schools. Your father an I had fully paid off our house by the time we were 35 and we had 6 kids and had to walk uphill to and from work both ways.
Your father an I had fully paid off our house by the time we were 35 and we had 6 kids and had to walk uphill to and from work both ways.
They had it lucky, I had to do it in the snow, with no shoes.
it depends where you start, if you are a migrant, there is a very steep spending curve to get over, between visas, higher study costs, starting life at pretty much zero… nonetheless i am impressed at how well some young aussies do and they great opportunities they have
luxury ! I grew up in a hole in the road !
According to the Australian Bureau of Statistics as at 2019-20, the average net worth of a household where the reference person is aged 25-34 is ~$354k, increasing to ~$693k where the reference person is aged 35-44.
The corresponding median values are ~$176k and ~$401k.
Using the median values, and splitting the difference between the two numbers, you get to an expected household net wealth for a 35yo couple to be ~$289k.
Adjust as you see fit for the two years that have passed since this data was taken.
interesting. Thanks for sharing.
Jupp, made around that in gains on my house in last 12 months. Great to finally catch up to everyone…. ridiculous
This is so subjective. Personally I'd judge your 'worth' as how much you contribute to society, or how good you are as people. To others you'd be worth nothing if you have no kids etc.
So you are in the bottom group, got it 😀
To others you'd be worth nothing if you have no kids etc.
Even if you pay loads of tax, produce goods and/or services, stimulate the economy, etc?
I suppose so, yes. I'm speaking of cultures where getting married and having kids is the end all.
what if you pay lots of tax and stimulate yourself to produce the goods
Due to your comment, going forward I will be unable to take anyone who says stimulate the economy seriously.
You've a whole life to continually build your wealth. Enjoy being young
And here I was thinking this was about Whiskey…
Why don't you rent the 35yo couple for a weekend to test the waters? That's a lot of money to spend and the legalities are a bit murky…
Don't forget the price of organs. How healthy is the individual?
no health no wealth
Sheeze based on Ozbargainers polling of this - I'm suddenly feeling pretty poor.
The manure flows well as some people have to keep up with the Jones'/Wangs'…
Most are in debt, so there is that.
I have a 36 year old friend who has two million in investment properties, he inherited his parent's estate at a young age though so he'd probably trade it all to get them back. Some things are worth a lot more than money.
He can have mine for half that price!!
Because you care so much about this benchmark, I'd say your worthless. For almost all the people I know that are doing well in whatever way they say fit, financial wealth is probably only 1 of their benchmarks and it is probably middle of the range or bottom in the list of benchmarks.
Good one. Thanks for the sharing.
I'd say your worthless.
Like your grammar aptitude.
'Like your grammar'
my grammar was more better edumacated than that
Look with zero info its hard. If you have worked decent jobs you should each have 17 years of super which id expect to be ~250k each
You should of bought a house 10+ years ago so would have equity in that.
If not you should of invested a fair chunk of money.
If you studyied for 5 years after school then you should be 12 years into your chosen career.
If you have been together since high school then you should of welly and truly started smashing some investment goals.You should be reaching your prime earning period shortly as i beleave once you are in your 40's it starts to ramp down as you care less about money as you should be finicially established.
Alot of people who i work with (in same age bracket) off live off partners wage and there full wage goes into house/investments.
If you lived with parents till mid 20's then you should be better off.
Not all of us are peer pressured into becoming doctors.
Absolutely not im a lecky by trade. None of those figures are crazy to me or my circle of friends admittly most are trade based with a few teacher partners, im certainly not the highest earning of my friends.
Alot of people go to uni for 4 years that was 13 years ago, there fore they should be smashing there careers by now. If they chose a trade or wanted to work there way up in a office i expect the same kid of wage as in theory you have had 4 more years to get there.
35 you would of expected every body to move up of the unskilled labour jobs (there is nothing wrong with them its just there not ideal for a career)
Esp since they have zero kids there is no reason they should not be making bank.If you are working unskilled jobs at min wage at 35 you are going to have issues down the track.
The average super of someone who’s 35 is around 100k. (Recent super survey).
The average income for all industries and all ages is around 90k per year. Typically, at 35 someone might be just reaching that average, and will accelerate afterwards as you’ve mentioned, though it’s not certain.
I’m of a similar age to OP. Many of my tradie mates owned an apartment or dumpy house by 2012, and no matter what you bought, the value of real estate has sky-rocketed, massively compounding net worth beyond income.
That’s about the same time uni grads were just getting out there, and after 5 years (2017) they might’ve bought their first place, at a big financial disadvantage to their peers who’d been working and were skilled 5 years before, where most trades are earning around the average wage (90k). Uni grads were averaging 55-60k income in 2013.Trades have a head start on most people who study, where the average age of completion is 22, so a uni grad might be 12-13 years into their career, if they hadn’t changed industries.
And again, OP has excluded having kids by 35, which I believe would make that situation an outlier with both people working.Overall, this survey is going to be skewed, and like others, it might be about pumping up an ego.
So congratulations on your financial net worth, you’re probably way ahead of where your peers are.
Not to mention you live in one of the wealthiest nations in the world, so you’re probably in the top 1% globally. If you had been born in almost any other country, you wouldn’t be this lucky.If all of your financial wealth disappears tomorrow, would that make you any less of a person? What do you want your legacy to be?
profuse sweating
But what are the Jones' next door worth?
You will always be behind if this is the sort of thing you allow to consume you.
Thought OP was getting into a pimping business.
35yos are a depreciating asset
read this like you were selling a 35 y.o as like a 'slave' and i honestly thought wtf
Yet you still went to the thread…
Keeping up with the joneses.
How large is your TV?
Is that a new suv in your driveway or the old model.
Nobody should care about these things.
Be happy with what you have, especially if you are living comfortably. You cant take money with you as you shuttle off the mortal coil.
Net worth? At least $250k. Or else you are in big trouble.
Did anyone else read the title as figure we were talking about human trafficking a 35 yo?
Notch, the creator of Minecraft, is worth billions in cash, but he's miserable. He's probably trade it all to be a broke unemployed 35 year old who is happy.
well he wouldn't do that, because if thats what he wanted he would donate all his money and be broke
He's depressed and miserable, he's not crazy. I think he would trade it all for a guarantee to be happy for the rest of his life, but he'd never trade it all for nothing. He'd still be the same Notch without the money tbh.
Alright let me take a crack at it.
I will try to use the median (or averages) and people can judge for themselves. Remember this is all guesswork and hypothetical, but I'll try to keep it realistic. But feel free to criticise/fix away.Property ownership in each generation is around 70/100 for Boomers, 50/100 for GenX, 30/100 for Millennials, and 5/100 for GenZ. This will be crucial info later on. On top of that, the average Millennial has around $20,000 in HECS debt. And the average Wedding+Trip costs them around $35,000. And there is another $15,000 in debt. This is all surface-level stuff found from a quick Google.
So a 35yo in 2022 would be born in 1987.
They are likely to have gone from Year 1-Year 12, without earning anything. And around 40% have Tertiary Qualifications, so I will "split the difference" as to not include any Masters/pHD/Doctorate. So starting a 3-year university at the age of 18 to 21. They will likely emerge with some Student Debt, some Bank Debt, and some savings from Part-time work. Their starting salary at age-22 (in 2009) would be $44,000 according to ABS. Working for 5-years with low raises would take this to 2014 at age-27, earning $49,000 pre-tax. We will estimate at that point the expenses ranged from $22,000 to $27,000 yearly. This leaves "Dani Smith" with a savings of $186-$123k= $63,000. Around this point they are likely to make significant expenses in terms of moving, furniture, car, and travel. This will amount to around $35,000. However, they will change jobs and start earning more money ($62,000). At this point they will increase their earnings quicker than before. So in the next 5-years it looks like $72,000 at age-32 in 2019. Somewhere in this point I will assume they bought a property. However due to being pushed out of the market, they had to settle to buying either a long distance from the CBD or buying an Apartment Unit. We will go with the latter as it seems most common. I will say it was at age-29 in 2016 that they had $80,000 in savings, and managed to pay for a 10% Deposit for a property closing in at $450,000. After they hit age-32 I will give them a one last job change/salary increase to $94k and they will remain stagnant there. From 2019-to-2022 they will finally tie the knot and get married, incurring big expenses. And having a strange period in between due to the pandemic. Their regular expenses would have risen substantially. So in 2017 they had $45k in savings, with $5k spent on home reno in the period. Netting around $28k savings per year in 2017 and 2018. Then around $45k savings in 2019-2021. Total being $40k + $56k + $135k -$15k = $215k. Now we'll subtract $35k for wedding, and they have $180k in savings, and this would've been placed on the mortgage to reduce repayments. Dwindling it down to $280k owing. Their unit/property would also have increased in value from the initial $440k to $650k. Which means they have an equity of $370,000. Minus his expenses of $40k debt. Add in his superannuation total of $60k.A 35-year old in 2022 is worth around $400,000.
If you are higher than this, count your blessings. If you are lower than this, fear not, as everyone has different circumstances. While $400k looks impressive, this is actually a far lower amount than subsequent generations have earned in a similar period (higher wages, lower costs, bigger boom in property and super). Ultimately what made the biggest difference is how quickly you could get in the property market, and how often you could increase your own salary. So in this scenario, I've been generous in the major things, and greedy in the minor things (the opposite would yield a far lower figure = thrifty spender that hardly gets a raise, and couldn't get into the property market). I've known very bright individuals who have been weighed down by bad luck, society, and responsibilities to their family. And similarly known some idiots who did everything wrong but struck the lotto with Bitcoin. So do NOT compare yourself to someone else, try to compare yourself today to who you were 5-years ago. Good luck everyone.For the TLDR crowd
The answer given was 400kThis sounds about right, for the two together, around $800k-$1.2m or something.
That is enough to buy a house, so if you want to start a family, 35 years old seems to be the around the right stage of life.
EDIT: (Noticed the ABS statistics above too which adds more evidence. @Seraphin7 's post)
Sounds much better than the $1.5m answer which is highly unlikely.
At 35, you've only been in the workforce properly for 10 years.
Your expense estimates seem on the low side but an interesting write up. 400K seems very high and your assumptions for salaries/education is way higher than the average australian.
Seraphin7's post above has the data from the ABS - Average 35 yo couple is worth roughly 300K so ~$150K each person.
I kind of agree.
Hence in the afterword, I wrote that I gave this individual positive things in a few major points, and many negative things in the minor things. That was to somewhat balance things out. The opposite of this, would be an individual that has far more savings and far better luck in everything… but in the major things like earning potential they would have significantly less. And I believe the end result would be someone who has probably half or even less than that in savings.But it is really hard to gauge what it would be, there are many factors at play.
If you come from a lower socioeconomic class, the odds get stacked against you. And if you come from a higher socio-economic class, the chances are put in your favour. I'm from the former camp, and due to my unique circumstances I am one of the poorest performing individuals of my generation.
Tldr
You win sir.
At 35 you need to be worth is a deposit to buy a house of your specifications. Then you be worth minus >$1m!
i think is all depends on what your own personal goals are. I have a friend whose goal is to be on 200k+ by the time she’s 35 and she’s well on her way, but I also have another mate who is a bit of a self described “nomad” and works only enough to get by and doesn’t believe in a life full of possessions. Both of them are extremely happy with their lot in life.
Don’t judge your success based on what society says it means. Do your own thing. Find your own happiness, whether that means working in finance for 60 hours a week or living out of a combi that you drive up and down the east coast seeking adventure
Its interesting to see where others are, their own goals and personal achievements. thanks for sharing :)
I think a fair amount, but around $1.2m. I'm 32 turning 33 in the next month. I've got around $800k in assets by myself. I haven't found the right partner yet as I'm always at work or studying on a new course to get a better job.
Oh I still have some HECS debt, but yeah, I didn't count that in it. I'm sure that will be paid off eventually by itself.
You must be a regular on whirlpool.
How many successful people do you know who are regularly on social media?
That is the question you should be asking yourself.
It has taken me over a week to find time to login and reply to you. The truth is weirder than you know.
Spotted the whirlpool regular
That's interesting you still have hecs considering your networth, considering if you earn over 140k you'd be paying 10% per annum, so either you started earning at a very early age and invested well for the gains rather than relying on high salary/savings, or you have a mammoth hecs debt?
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The question is not 'how much should they be worth', but what have they done so far to meet their long term life goals.
The answer could span -$1.5m to +$300k due to different growth strategies.