Here’s the Minimum Net Worth Considered To Be Middle Class in Your 30s
Written by
Cindy Lamothe
Edited by
Levi Leidy
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When you hit your 30s, money starts to feel a little more real — whether it’s juggling a mortgage, saving for the future or just figuring out how to afford life without living on takeout noodles. But how do you know if you’re actually keeping up financially?
According to the Pew Research Center,the share of Americans who are in the middle class is smaller than it used to be. One big factor people look at is net worth, and it turns out there’s a rough number that signals you’re sitting comfortably in the “middle class” lane during this stage of life.
Here’s a look at what that benchmark is and what it really means for your financial picture.
Class Doesn’t Perfectly Relate to Net Worth
According to Jeffrey Hensel, broker associate with North Coast Financial, when you are in your 30s, your class doesn’t necessarily correlate with your net worth.
He explained that although net worth matters, it’s more important to create a foundation which incorporates balancing your assets and becoming financially stable in terms of your income and debts.
You Need About $150,000 in Your Mid-30s To Be Middle Class
Hensel noted that the median net worth of Americans in their mid-30s hovers around $150,000.
“Making or surpassing that amount will generally mean a family that has a dependable income, a certain amount of equity in [their] house and a retirement fund that is being put into action,” he said.
Here’s What Keeps You Comfortably Middle Class in Your 30s
In Hensel’s opinion, people who remain comfortably middle-income in their 30s always do the same three things: maintain housing expenses they can afford with money left over, make regular contributions to retirement savings (albeit modest) and do not buy too much when incomes are growing.
“I have witnessed situations in which clients who had started at a young age with as little as $200 in small monthly retirement deposits were a lot more advantaged by the time they were in the 35 age group.”
The key is momentum.
“Wealth generation in the youthful years is not necessarily [about being perfect] but establishing a long-lasting [habit] that builds over a lifetime,” he said.
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