In Money, Wealth

What are the High Achiever (not Average) net worth of millennials by age?

I talked about the average net worth of millennials here, with a few reasons (very stark, bleak ones) about what is stopping them from saving versus the past.

But… as you are all on this blog, you’re likely not in that average cohort. You’re very likely in, or striving for this one because.. well, you’re interested in your money.

People aren’t great at managing their money

High incomes, low incomes, millennials, Boomers.. it doesn’t really matter what cohort you’re in, people in general, really suck at managing their money.

I was out with a friend the other night (she just started on this new money journey of financial independence and I am guiding her the best I can), recounted to me that she was absolutely AMAZED that people would turn down $100.

She said – Use my referral, and you’ll get $100, and I’ll get $100 after you just hold $250 in there for a month or so. It is so easy, just a few minutes!

Only ONE friend out of 8, signed up and was interested in a free $100.

Even taking into account that you could be earning interest on that $250 you need to hold in the account, it is FREE MONEY.

And yet, no one wants it. But if they say $100 on the ground, or five $20 bills… they’d pick it up.

So, really, if you’re a high achiever, millennial or not, my hat goes off to you. It isn’t easy in a world of people who are completely disinterested in their money, on the whole.

High Achiever Net Worths for Millennials

Source: The College Investor

  • 38 (Class of 2003): $435,405
  • 37 (Class of 2004): $415,341
  • 36 (Class of 2005): $373,844
  • 35 (Class of 2006): $341,174
  • 34 (Class of 2007): $329,624
  • 33 (Class of 2008): $308,441
  • 32 (Class of 2009): $287,593
  • 31 (Class of 2010): $267,169
  • 30 (Class of 2011): $231,957
  • 29 (Class of 2012): $215,082
  • 28 (Class of 2013): $193,302
  • 27 (Class of 2014): $166,425
  • 26 (Class of 2015): $142,767
  • 25 (Class of 2016): $104,765
  • 24 (Class of 2017): $72,706
  • 23 (Class of 2018): $41,518
  • 22 (Class of 2019): $28,915

High Achieving Millennials do make good money

Generally speaking, they make a good income. They do. They aren’t working millennials if they’re saving swathes of money.

Maybe they have ONE great paying job (like me), or they’ve taken on 2-3 jobs to make that 6-figure income. Or they have multiple side businesses and incomes. Who knows?

But one thing is for sure – their income is high enough that if we are already spending a lot of money on necessities AND we have enough money to sock it away to reach such levels of savings, it means we have covered our basics, and then some.

It doesn’t mean that they’re flush with money making $200K salaries, but they do make a decent income.

The other (and most important part), is that they save it.

You can make a lot of money (like I do), and not save a single penny (like some people I know), or you can make half what I do, and save an insane amount of money because you’re focusing on the goal of basically not spending it, and investing it instead.

After the income part is taken care of, it’s all a question of your own preference, and values.

Do you want to save like crazy now, and then take the foot off the pedal and coast?

Or do you want to be a little more moderate (this is my wheelhouse), and work a little longer, spend a little more and be bougie, but have the possibility of not working until the end of your life?

High Achieving Millennials could have also had different starts / help

For instance, they could have had a different start in life – they went to a cheaper or free local college rather than getting into debt, or their parents paid for them, etc.

Maybe they moved back in for $0 and saved up their incomes to be able to move out and get a retirement nest egg going.

Or maybe an inheritance (unlikely), but still, gotta write it somewhere.

There are lots of other reasons why they could be where they are, not necessarily tied to just them and their income, but their circumstances and any help received or decisions they have taken.

I would actually like more high achieving millennials to speak up if their parents paid for their education, or if they moved back home for free, etc. It would normalize things and make people feel relieved that they aren’t that far ahead because of student debt, etc.

Households making over $100K have had the highest increases in income

Literally the rich.. getting richer:

In the past decade, the nation’s highest earners — households making $100,000 or more — watched their incomes rise 1,305 percent more than those in households making less than $50,000 a year.

Source: Washington Post

They had an average net worth increase of ~$30,848 annually

They’re saving enough to have net worth bumps of around $30K a year.

If you look at the years (e.g. age 38 from when they graduated at age 22), the oldest millennial has 16 years from when they left, I divided it out by their net worth, and got their average net worth increases by age.

  • 38 (Class of 2003): $27,212
  • 37 (Class of 2004): $27,689
  • 36 (Class of 2005): $26,703
  • 35 (Class of 2006): $26,244
  • 34 (Class of 2007): $27,468
  • 33 (Class of 2008): $28,040
  • 32 (Class of 2009): $28,759
  • 31 (Class of 2010): $29,685
  • 30 (Class of 2011): $28,994
  • 29 (Class of 2012): $30,726
  • 28 (Class of 2013): $32,217
  • 27 (Class of 2014): $33285
  • 26 (Class of 2015): $35,691
  • 25 (Class of 2016): $34,921
  • 24 (Class of 2017): $36,353
  • 23 (Class of 2018): $41,518
  • 22 (Class of 2019): $28,915

The highest net worth increase per year would be the Class of 2018 (23) at $41,518.

The lowest net worth increase per year would be the Class of 2005 (36) at $26,703.


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Sherry of Save. Spend. Splurge.

Am my own Sugar Daddy. Am a millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I have 11 side incomes that are on track in 2020 to make me $50K - $75K. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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