What's Your Financial Age?
The title of this article makes me think of the Blink-182 song "What's My Age, Again?"
Which, in turn, probably gives away my age. Yes, I, Miss Thrifty, am 27. Almost 30. Yikes!
I am chugging along tucking away money where and when I can. I know we're not supposed to compare ourselves to the Joneses, but...
CNNMoney has a cool tool, Net Worth: How Do I Stack Up?. Check it out!
Simply put in your age and your annual income; CNNMoney will do all the pesky calculations and will spit out a result for you based on other respondents. You'll get a result for how you stack up against peers in your age range, as well as peers in your salary range.
How did I do?
Based on my age (27), my peers have a net worth of $1,475.
I have a net worth of 10x that! I guess you could say I'm mature for my age?
Based on my salary, my peers have a net worth of $34,375.
Eek! Not quite there yet. Well, the net worth calculator does have a footnote that real estate is included in their net worth calculations. Because I'm a renter (more on that later), I'm missing out on some of the home equity my peers probably have (at that dollar amount though, doesn't seem like they have much more equity than their original down payment if they paid the perennially recommended 20% down).
So, what's your age, again?