Net Worth private poll

[dmclone]

For the last few years I've been going out on the first day of the year and figuring out my net worth. I do this to see how it compares to the year before and also to see what areas I need to work on.

To figure out your net worth, add up the current value of all of your assets, then add up the current amount of all of your liabilities. Subtract your total liabilities from your total assets. The amount you end up with is your net worth. Assets can include cash, checking accounts, certificates of deposit (CDs), mutual funds, stocks, bonds, IRAs, 401(k) plans, automobiles, and real estate. Liabilities can include debt from credit cards, student loans, mortgages, home equity loans, 401(k) loans, and car loans.

So for example, if you only own a house and have a $300,000 loan but it's worth $320,000 than you have a $20,000 net worth.

This is a private poll and I'm not going to vote right away or you'll know what my net worth is :wideeyed:

 

[thunderdave]

I don't know what my net worth is, but I do know I have enough money to retire on.


Although, I gotta die by Tuesday.

 

[bos]

If I die, my family is set. If I live, they arent yet. Go figure.

 

[psycln11]

Can I count my Credits?? :biggrin:

 

[mjlane]

I see the one vote cast so far is for 1,000,000+. At least we're being honest here :no:

 

[jdoggivjc]

That is extremely true. The only reason I'm worth more to my wife alive than dead right now is because we haven't had any children yet. That may change in a couple of years :wideeyed:

 

[hort4cy]

I am worth a whole lot more dead than alive! Maybe that is why my wife threatens my life so frequently.:wideeyed:

 

[dmclone]

Let's be honest here people. There is no gain in lying. This isn't a "big nut" contest.

 

[Jer]

I'll be the first to publicly acknowledge that we're in the negative. When you're 25 and own a house and two cars, it's hard not to be. We were a middle-class family growing up and that means you go through college and the younger years working hard and accumulating debt on the family-life necessities to spend the rest of your 20's and/or 30's paying off.

In today's society; it's more or less customary to live your life digging out of a whole rather than building a mound - obviously not the way it should be. While I'd love to be building wealth instead of debt - it's going to take time to right the ship before we can set sail. Both my wife and I earn a decent salary but when you want to live life with a house, two cars, two dogs and have nice things in your house, it adds up quickly and takes a long-time to pay-off.

 

[Jer]

I see the one vote cast so far is for 1,000,000+. At least we're being honest here :no:

Somebody needs to hit the "donate" button:wink:

 

[CyTom]

Donate button to both CF and the NCC.

 

[Knownothing]

I am in the possitive. I am one that don't beleive net worth is worth much. That is why you see all those commercial with people trying to brag about there net worth. By the way I am not the guy who did the million dollar one.

 

[psycln11]

I'll be the first to publicly acknowledge that we're in the negative. When you're 25 and own a house and two cars, it's hard not to be. We were a middle-class family growing up and that means you go through college and the younger years working hard and accumulating debt on the family-life necessities to spend the rest of your 20's and/or 30's paying off.

In today's society; it's more or less customary to live your life digging out of a whole rather than building a mound - obviously not the way it should be. While I'd love to be building wealth instead of debt - it's going to take time to right the ship before we can set sail. Both my wife and I earn a decent salary but when you want to live life with a house, two cars, two dogs and have nice things in your house, it adds up quickly and takes a long-time to pay-off.

Just wait until you add 2-3 kids to that list!!

 

[isuno1fan]

I am very lucky in that when I left college with my engineering degree, I had zero debt. I only had about $1,000 to my name, but zero debt (no loans on anything). When I got married, my wife was the same way. With two good jobs and one car a company car, it isn't too hard to accumulate net worth.

Having said that, I am not the $1M guy either...but hope to be in the next 2-3 years.

 

[brianhos]

I'll be the first to publicly acknowledge that we're in the negative. When you're 25 and own a house and two cars, it's hard not to be. We were a middle-class family growing up and that means you go through college and the younger years working hard and accumulating debt on the family-life necessities to spend the rest of your 20's and/or 30's paying off.

In today's society; it's more or less customary to live your life digging out of a whole rather than building a mound - obviously not the way it should be. While I'd love to be building wealth instead of debt - it's going to take time to right the ship before we can set sail. Both my wife and I earn a decent salary but when you want to live life with a house, two cars, two dogs and have nice things in your house, it adds up quickly and takes a long-time to pay-off.

Yeah it takes a while to get out of that negative net worth. I think I was probably 27-28 before I hit a positive net worth. Then I worked my tail off to get my mortgage taken care of, at the same time maxing out my 401k. It was a rough couple of years, but was well worth it.

 

[clones_jer]

I track the heck out of this sort of thing, my red/black worksheet, amognst all other things financial. I call it "organized", my wife calls it "anal".

 

[brianhos]

I am very lucky in that when I left college with my engineering degree, I had zero debt. I only had about $1,000 to my name, but zero debt (no loans on anything). When I got married, my wife was the same way. With two good jobs and one car a company car, it isn't too hard to accumulate net worth.

Having said that, I am not the $1M guy either...but hope to be in the next 2-3 years.

My goal is to hit the $1M mark by the time I am 40. I think it is possible, but will take some serious saving/investing, plus I need the markets to stop going down, that is killing my overall net worth. And I need to find a better way to shelter income.

 

[dmclone]

I can see why some of you don't have problems with rising ticket prices.....Although it's probably the ones worth the most complaining the loudest.

 

[brianhos]

I can see why some of you don't have problems with rising ticket prices.....Although it's probably the ones worth the most complaining the loudest.

I am in one of the higher categories since I am old... NOT the $1M one, and yes, I am complaining about the rising costs of going to games.

 

[cycloneworld]

I'll be the first to publicly acknowledge that we're in the negative. When you're 25 and own a house and two cars, it's hard not to be. We were a middle-class family growing up and that means you go through college and the younger years working hard and accumulating debt on the family-life necessities to spend the rest of your 20's and/or 30's paying off.

Same here. Add in student loans and its easy to be in the negative when you are young.