There is anarticle on MSN Money about how broke people in 20s are. On the other hand, people in 20s are innovators and entrepreneurs (think Google). It's true that my peers are burdened with debt, but I think we're also best positioned to become millionaires and create wealth.
It includes some benchmarks for comparison, I selected a few to measure myself. Please comment on my progress and show me how far you have come (my comments are in italic).
Median income $27,726. I'm above the median!
Median value of vehicle(s) $11,000. KBB says it's $7,000, minus the car loan. Yikes, I'm below!
Median credit card debt balance $1,400. OMG, I'm at staggering $27,942!
Median amount of student loans owed $9,200. I seem to owe everyone money, $20,697.
Here are some advices:
Live cheaply as long as you can.
Get health insurance.
Shovel money into your retirement funds.
Take a chance.
Be strategic about debt.
Pay attention to your credit score.
(Read the full article here to see some statistics.)
Update: As Sun mentioned, I'm including other non-debt related info.
401(k) or IRA accounts 31.50%. Cool, I'm part of the group.
Median value of accounts $7,300. My 401k is $1,646, Rollover IRA is $15,621, Roth IRA is $9,208.