Net Worth private poll

[isufbcurt]

I don't really care about net worth. I live comfortably now and can do as I wish, if I have to take some debt so be it, I know I have the cash flow in the future to pay it.

 

[brianhos]

Life Insurance cash values count toward net worth, but not death benefits.

People have life insurance that has cash value? What is this 1962???

 

[clones_jer]

There's no poll option for "One ... hundred ... Billion dollars!"

 

[Cydkar]

What's not to believe in regarding net worth, Knownothing?

 

[iowast8fan]

shoot, you can't take it with you when you die, so why not spend it now?

 

[tec71]

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.

 

[ericlambi]

I was at about 50k, went to business school and came out at the end of '06 at negative ~50k. Back in the black now at about 60k . . . so far b-school is paying off.

 

[Cyclone62]

That depends-If you have your loans through Iowa Student Loan, I've been told they are forgiven upon death.
*This is not student loan advice. Check your provider for details.

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!

 

[CTAClone]

I'm actually really shocked that the lowest demographic on here is 750K-1M. Of course I'm shocked because that's the bracket I fall under and I thought more people made that same amount of money. I guess I'm not getting paid enough.

 

[Cyclone62]

I'm actually really shocked that the lowest demographic on here is 750K-1M. Of course I'm shocked because that's the bracket I fall under and I thought more people made that same amount of money. I guess I'm not getting paid enough.

If you don't make enough there, than I certainly will never "make enough" in my lifetime. :wideeyed:

 

[dmclone]

I'm actually really shocked that the lowest demographic on here is 750K-1M. Of course I'm shocked because that's the bracket I fall under and I thought more people made that same amount of money. I guess I'm not getting paid enough.

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).

 

[CTAClone]

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.

 

[herbicide]

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!

 

[Wesley]

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.

 

[herbicide]

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.

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.

 

[crash_zone]

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.

 

[herbicide]

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.

 

[Johnny Tremain]

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.

 

[isuno1fan]

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.

Time for all those millionaires to write a check for the SEZ!

 

[Ry4Cy]

Time for all those millionaires to write a check for the SEZ!

We had a meeting last night and we are working on it!!!