Net Worth private poll
- Thread starter dmclone
- Start date
I married someone with a great net worth to go with my terrible net worth so ours is decent. That's the only way to go. Marry into it.
Mine are through a bank, so no death forgiveness clause for me. Oh well, as I always say: If I'm going down, I'm taking you all with me!
If you don't make enough there, than I certainly will never "make enough" in my lifetime. :wideeyed:
Keep in mind that you also live in los angeles. A person with a net worth of a million dollars could probably retire and live 5 years off that money in LA. In Iowa, they could probably live 40. I assume i would have to make at least double to live in most places in California (triple in San Fran).
Maybe I should've put a wink in my post. I was trying to be sarcastic because I don't believe that there is all those millionaires on CF. I do agree that the cost of living is more expensive here. I make more than the majority of fellow CF'ers (according to this poll) but I'm not anymore well off than them because the cost of living is much more expensive. I don't even consider buying a home. It's tough to find a home under 350K in a decent area and 6 months ago you couldn't find anything under 400K.
Word of advice, if you want more net worth, whatever you do, do NOT buy a boat!!!
I have spent almost the same amount on that darned thing in the last 2 years as my house, all things combined, not just mortgage! Overspent mortgage alone!
So, what am I going to do this spring? Probably upgrade. Is there a support group for this? Yes, unfortunately its other boaters!
I have spent almost the same amount on that darned thing in the last 2 years as my house, all things combined, not just mortgage! Overspent mortgage alone!
So, what am I going to do this spring? Probably upgrade. Is there a support group for this? Yes, unfortunately its other boaters!
On the average, I would think you would be positive net worth by age of 30, and then depending on your line of business, your investments, family size, family in laws, pleasing your better half, charitable choices, fiends you hang out with, betting fiascos, entertainment must sees, car toys, you just might stay the same till 40. Just kidding.
I want to start a business (on the side) that is hard for the gubment to track expenditures and income. You risk an audit, but I know more than a few that don't claim everything they possibly could just so they can show a positive income or cash flow. They say they are audit proof, and so do their accountants
I would love to do so, but the trick is finding the right opportunity that one can do on the side of their day job. I have some ideas, but would eat too much into my time.
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this is my first yr in the black - currently dumping 50% of my income into savings (IRA/401K, etc). Figure if I can keep it up for another 10 yrs while also chasing another degree in school, I should be all right.
If you do that, methinks you will be more than just "all right," especially if you own a house.
Most successful endeavors are a result of a team effort, a product of sound mentoring and planning. No matter what is your current net worth, one of the best, if not the best, decision you can make for your family's financial future is to find and hire a professional financial advisor.
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