Question: how much money should you have saved at 24?
Answer: By age 25, you should have saved roughly 0.5X your annual expenses. In other words, if you spend $50,000 a year, you should have at least $15,000 – $25,000 in savings with minimal debt. Your ultimate goal is to achieve a 20X expense coverage ratio in order to retire comfortably. Let's look at the methodology!