Letsrun Poll

Age: 24

Net Worth: ~250k (gotta admit mostly family money, only about 30k acquired in the 2 years i've been working)

Occupation: Software Engineer

Rick Ross wrote:

Age: 26

Net Worth: not really sure, i just graduated with a masters, happy to have so far approx 60K in stocks as part of Roth IRA and 401 contributions

Profession: CPA, but not sure how I'm going to use it yet/def not your typical accountant

Can you define the kind of accounting you do then? I'm planning on getting a CPA myself, so like to get a feel for the type of work that is available.

58, 1-1.5M, medical sales

Age 42.

Retail Store Manager

Net worth: about a hundred bucks in cash.

If I sold everything that I owned I might be able to scrape together a couple of grand.

Divorces and child support payments really suck.

age: 46

Net Worth: 650,000

small business owner

19

net worth: 4.5k

student athlete

hmmmm............ wrote:

Can you define the kind of accounting you do then? I'm planning on getting a CPA myself, so like to get a feel for the type of work that is available.

You can do tons of things toomany tolist

FBI agent (CPAs are in big demand by FBI - white collar crime), finance, industry corporate finance (basically what I do now), public accounting in audit/tax functions, financial planning, general business, start your own CPA firm, etc.

worked as an auditor in public but didn't like it - seemed like there was lots of BS in the pecking order and sucking up. now working in the finance function for an athletic company - like much better. thinking im going to operate out of my own shed/start own LLP in a couple years

25, About $30K in my 401, Just bought a house at around $160K, salary of $60K in the insurance industry.

Age: 33

Net worth: 60K house equity, 60K savings and stock, -112K student loans

Profession: Physician - medical school straight outa college, worked 60-80hrs a week for the last 7 years with all the medical training. This is my first year making a real salary (and I still work at least 60hrs/week)...but I do enjoy my job.

25 years old $38/k a year. $15k in assets - $17k in student loans.

Age: 19

Occupation: student

Net Worth: 13k

45

Statistician; Money Manager

$1,900,000 + pension and IRA worth about what my kids' college will cost.

I'm struck by how many people under 35 have absolutely nothing saved, and how many older than that seem to have 1/2 million or more. Seems like the realization of Ross Perot's nightmare, with huge deficit spending benefiting the 40+ crowd who were in their peak earning years enjoying easy money for most or all of the past 25 years. Meanwhile, the younger generation is coming of age just in time to pay the massive interest payments on our debt, and to support their aging parents if their parents weren't fortunate enough to amass fortunes that will carry them through 20 or 30 years of retirement.

If you are one of the 20-40-year-olds with no savings you really need to pray for a big inheritance (which is never a sure thing) or work for the reinstatement of a substantial inheritance tax. Otherwise, expect to be work your butts off late into life to support about 50 million early retirees.

The nation's debt has financed huge windfalls for millions of people, so when the beneficiaries die, shouldn't we start using a big chunk of those windfalls to pay the debt back down? We'll give these young LRC paupers a fighting chance, and give our own kids a little more reason to prosper from an honest life's work.

Sorry I'm a bit late getting to the party.

late 50's

about 1.5 million

dentist

age 20

student-athlete

net worth: ~24,000(4 summers of work, and some very fortunate stock trades)