My son and I were talking about saving & investing and I’m proud that he is a good saver.
I know that definitively because I ran across this chart in a news story (I forget where). It gives a good look at net worth by age with 5 year age brackets.
I think it’s good for young people to see what others are saving. We never had this kind of data handy when we were that age.
My wife and I turn 60 this year, so we have moved up to the next age cohort on the chart.
I was surprised that the net worth among the top savers in the 60-64 group is actually slightly less than the 55-59 group. I guess that’s a signal we should go splurge some of our savings! 🙃
Have a great long Memorial Day Weekend …!
Image: Pixabay
MrFireStation 
I remember when I was in my early 20’s back in the early 80’s and a millionaire gave me this advice, “It is harder to get from zero to a $100,000, than from a $100,000 to a million.” The Federal Reserve Chart agrees with this good advice. Get that first $100,000 saved and invested as early as you can to get compounding working for you.
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If you are a diligent saver & investor, there is quite a “flywheel” effect, isn’t there? I remember being in my late-20s and a buddy & I amazed that our 401ks had reached $100K!
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