A few years ago I came across an article that gave benchmarks for personal net worth stated as "x" times your annual income. The benchmarks were stated for age brackets (30s, 40s, 50s, etc), and I vaguely recall that for someone at about 35, the benchmark was 3-5x gross income.
I know from the "Millionare Next Door" that the wealth accumulation formula is similar with (age*gross income)/10, but deosn't necessarily produce similar numbers.
Does anyone know of any similar personal net worth benchmarks?
I know from the "Millionare Next Door" that the wealth accumulation formula is similar with (age*gross income)/10, but deosn't necessarily produce similar numbers.
Does anyone know of any similar personal net worth benchmarks?