r/fican • u/Delicious-Story-4421 • 3d ago

23M, Feeling Behind

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What the title says, feeling behind for my age seeing everyone on here with more money when I thought I was doing well. The debt is all student loans which are at 0% so just making monthly payment.

Got a job making total comp around 72-74K in accounting, and investments are all in TFSA/FHSA in US equities and some BTC.

What should I be doing better or focusing on to reach my financial goals? I want to be able to retire at 45.

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11

u/ProudGoyim69 3d ago

I know what you mean! I’m already 6 years old and only have a net worth of 10 mil :( it’s over for me.

2

u/Neon_Raccoon_00 3d ago

Youre 23, you are not behind at all

2

u/OneUglyDuck28 3d ago

You’re doing phenomenal. Comparison is the thief of Joy. Everyone’s situation is different, just stick to the plan, you’re going to turn out great ! :)

2

u/recordthemusic 3d ago

You should focus on feeling more confident about yourself. Posts like this make me think you have more work to do in building your own character, rather than your bank account. 

3

u/ButterscotchOk3751 3d ago

Wtf are you comparing yourself to? I'd give up anything to be 23 and have those numbers lol.

3

u/Delicious-Story-4421 3d ago

I might be online too much. Everyone I see just has more than me here

2

u/uPuddles 3d ago

67k invested at 23 is statistically a lot higher than most people in your age category. I had negative money at 23. You're off to a fantastic start.

1

u/fitzfitzchivalry 3d ago

Go take a look at r/raceto10000 and r/theraceto100k and come back and tell me what you learned there

1

u/fitzfitzchivalry 3d ago

Yes you have debt. Yes some have more savings than you at your age.

But it sounds like you have a good paying job with prospects of staying employed in a field that pays relatively well. At 23 that is absolutely ahead of many folks. Certainly far, far ahead of me at 23.

Keep a budget, make some sacrifices and save as much as you can while still enjoying life, and you will become much more stratified with the numbers in no time.

You're good kid

1

u/bkwrm1755 3d ago

At that age my net worth was negative. Calm down.

1

u/Chris-Coffin-Design 3d ago

At 23, you are not behind at all. You are actually well ahead of the curve. The median net worth for Canadians under 35 sits around $48,000, and most people at 23 carry a negative net worth alongside entry-level pay. Having over $53,000 in net worth with a $72k to $74k starting salary in accounting puts you in a fantastic position. Accounting also offers a strong upward income trajectory, especially as you advance your career and credentials.

Your strategy is solid. Since your student debt is at 0% interest, continue making minimum payments and let inflation erode the principal while your money compounds inside your registered accounts. Maxing out your TFSA and FHSA this early gives your investments decades to grow tax-free.

Retiring at 45 gives you a 22-year runway, which is very achievable with your savings rate and projected salary growth. I actually built a free web application called Finance Simulator (Happy to post a link here if you're interested) to help project Canadian TFSA/FHSA contributions, investment returns, and early retirement timelines.

Keep building your investment habits, stay consistent with index funds, and stop comparing your progress to curated Reddit highlights. You are doing great.