Bored... Super hot for the next four days, so my plans to be at our lake place, (limited A/C) are on hold. Time to resurrect my age-old question here...
Nest Egg, Net Worth, Assets, Savings, Capital etc. ........
Why, oh why, do most people add... "not counting my house"... Why wouldn't the value of the home be counted in as Net Worth, or Assets?
ie. "My Net Worth is $1.5M and my house is $350K"
So net worth can count rental properties, but not the house one lives in?
"We have to live somewhere!".... Yeah, but if it's in a nursing home, is the house still excluded from Net Worth?
When you're calculating your "success rate" does that include the value of the house? Do you count those two cars that are in the garage? And how about the $2000 wedding ring or the $3000 worth of computers, phones and other electronics?
Not trying to be snoopy, but when trying to understand the reasoning in some of the threads, (especially where Californians are involved) I see numbers like savings of $1.7 million but no mention of including the value of that $750K house.
Best explanation that I usually get is "Well, you have to have some place to live." Almost sounds like the expression "Going down with the ship!"
(sigh)... gonna be a long weekend, but at least it'll be cool.
Nest Egg, Net Worth, Assets, Savings, Capital etc. ........
Why, oh why, do most people add... "not counting my house"... Why wouldn't the value of the home be counted in as Net Worth, or Assets?
ie. "My Net Worth is $1.5M and my house is $350K"
So net worth can count rental properties, but not the house one lives in?
"We have to live somewhere!".... Yeah, but if it's in a nursing home, is the house still excluded from Net Worth?
When you're calculating your "success rate" does that include the value of the house? Do you count those two cars that are in the garage? And how about the $2000 wedding ring or the $3000 worth of computers, phones and other electronics?
Not trying to be snoopy, but when trying to understand the reasoning in some of the threads, (especially where Californians are involved) I see numbers like savings of $1.7 million but no mention of including the value of that $750K house.
Best explanation that I usually get is "Well, you have to have some place to live." Almost sounds like the expression "Going down with the ship!"
(sigh)... gonna be a long weekend, but at least it'll be cool.