As many are working towards becoming financially literate and independent, talks about net worth are no longer taboo, nor do individuals talking about it sound rude. Saving for the future while enjoying today can be achieved by having a good financial plan in place and sticking to it until every goal is reached. Steve Sorensen Networth.

By age 20, one should not worry so much about their net worth. Instead, focus on building healthy financial habits such as saving plenty and investing little by little. Those who work at this age may speak with managers about their company’s retirement savings plan such as a 403(b) or a 401(k). If one works as a freelancer, they can save on their own through a Roth IRA. Steve Sorensen.

It would be good for one to have zero student loan debt by age 30. With zero debts, building savings and net worth would be easier. One should work towards maintaining a $30,000 net worth by age 30. Through saving and investing, this achievement is attainable. A $160,000 net worth should be one’s next step as they reach 40. By this time, the benefits of investing in different channels will start to show. Steve Sorensen.

A person’s net worth by age 50 should be four times their annual salary. While it sounds impossible, an early start in proper saving and investing will surely have one see the fruits of their labor. By one’s retirement age, their ideal net worth should be six times their annual salary. Net worth benchmarks for individuals in retiring age depend highly on their future needs. Steve Sorensen.