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View Poll Results: What is your Net Worth
Negative 1 0.60%
0 - 25,000 1 0.60%
25,000 - 50,000 3 1.81%
50,000 - 100,000 3 1.81%
100,000 - 200,000 6 3.61%
200,000 - 500,000 27 16.27%
500,000 - 1,000,000 45 27.11%
1,000,000 - 3,000,000 64 38.55%
3,000,000 - 5,000,000 14 8.43%
5,000,000 + 2 1.20%
Voters: 166. You may not vote on this poll

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Your Current Net Worth - 2005
Old 07-22-2005, 02:07 PM   #1
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Your Current Net Worth - 2005

Not that we should be judged by such a thing.
Please refrain from posting amount - I don't want to know how big a pile you've made.
Humor is always welcome though.

DanTien
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Re: Your Current Net Worth
Old 07-22-2005, 02:31 PM   #2
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Re: Your Current Net Worth

Don't forget that there are two kinds of net worth:

There's the classic: Total assets - Total liabilities (which is what I assume you ask in your poll)

And there's the "harvestable" net worth I use to determine how much I need to be FI.* This net worth only takes into account those assets that will generate income to me, like my mutual funds, bonds, and bank CDs.* For example, your home counts as part of your net worth, in the classic sense.* However, if your only asset is a $1mil home with no mortgage, you will not be able to be FI unless you plan on tapping the equity by selling it, getting a reverse mortgage, renting it, etc.

The harvestable net-worth is more meaningful to me since I don't plan on generating any income from my home nor some of my other assets like my wedding ring and the pencil on my desk.
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Re: Your Current Net Worth
Old 07-22-2005, 02:32 PM   #3
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Re: Your Current Net Worth

Quote:
Originally Posted by DanTien

Humor is always welcome though.
NYDB, if you get my drift...

REW
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Re: Your Current Net Worth
Old 07-22-2005, 02:34 PM   #4
 
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Re: Your Current Net Worth

Good idea for a poll. *I suggest that we use the classic net worth formula.

I predict that for this forum, the top slot will be $1-$3M, with the next lowest bin close behind.

For the general population, the first two bins would probably win.
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Re: Your Current Net Worth
Old 07-22-2005, 02:41 PM   #5
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Re: Your Current Net Worth

Quote:
Originally Posted by retire@40
Don't forget that there are two kinds of net worth:

There's the classic: Total assets - Total liabilities (which is what I assume you ask in your poll)
I'm a classic man myself.

Quote:
Originally Posted by REWahoo!
NYDB, if you get my drift...
REW
YDBIYDB

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Re: Your Current Net Worth
Old 07-22-2005, 04:12 PM   #6
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Re: Your Current Net Worth

OK, guys. What does NYDB and YDBIYDB mean?

LL
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Re: Your Current Net Worth
Old 07-22-2005, 04:15 PM   #7
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Re: Your Current Net Worth

Quote:
Originally Posted by LL
OK, guys. What does NYDB and YDBIYDB mean?
None of Your Damn Business....

Your Damn Business Is Your Damn Business...

REW

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Re: Your Current Net Worth
Old 07-22-2005, 04:16 PM   #8
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Re: Your Current Net Worth

: I had a feeling it was going to be something like that. Thanks.
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Re: Your Current Net Worth
Old 07-22-2005, 05:04 PM   #9
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Re: Your Current Net Worth

I think you should have broken out the $1m to 3$m out a bit more - maybe in 250k increments
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Re: Your Current Net Worth
Old 07-22-2005, 05:09 PM   #10
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Re: Your Current Net Worth

Quote:
Originally Posted by dex
I think you should have broken out the $1m to 3$m out a bit more - maybe in 250k increments
Humor is always welcome though.
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Re: Your Current Net Worth
Old 07-22-2005, 05:19 PM   #11
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Re: Your Current Net Worth

Quote:
Originally Posted by DanTien
I'm a classic man myself.

YDBIYDB

DanTien
I'm a classic.

JG
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Re: Your Current Net Worth
Old 07-22-2005, 05:34 PM   #12
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Re: Your Current Net Worth

I'm not going to answer either, but I do fall into one of those categories

I've done a bit of reading lately on the number of "rich" people in the country...seems the $1M+ category (excluding residence) is not a very exclusive club anymore, something like a few million folks fall into that category...

Also, a new term I learned UHNWI...Ultra-High-Net-Worth-Individual......someday I want to be in that category (there is no consensus definition on the term, but the last article I read was $30M+)...now there is a much more exclusive club to belong to...something like 70K people worldwide, about 30K in the US....I think I may need to take on a new challenge Wonder how many of those folks are first generation (self-made)UHNWI, and how many were more-or-less born into it?
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Re: Your Current Net Worth
Old 07-22-2005, 06:00 PM   #13
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Re: Your Current Net Worth

How do you classify those with retirement financed by pensions instead of other investments? It seems like you'd want to figure out what amount of money would generate income sufficient to equal the pension. But then we usually can't liquidate our pensions as we could other assets.

cheers,
Michael
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Re: Your Current Net Worth
Old 07-22-2005, 06:07 PM   #14
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Re: Your Current Net Worth

Quote:
Originally Posted by The Other Michael
How do you classify those with retirement financed by pensions instead of other investments? It seems like you'd want to figure out what amount of money would generate income sufficient to equal the pension. But then we usually can't liquidate our pensions as we could other assets.

cheers,
Michael
Interesting point Michael. I don't have a good answer to get at a present value of a future payment.
Probably someone in the collective brain trust has one though.
The bottom line for this poll is what slot are you in and would that theoretical value (how long will you live) push you into the next one.

DanTien
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Re: Your Current Net Worth
Old 07-22-2005, 06:08 PM   #15
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Re: Your Current Net Worth

What I have done for pensions is take the money collected over the avg. life expectancy - as a rough estimate. I suppose you could add a cost of living adj. maybe and figure if your state taxes pensions. *I suppose if you have a corporate pension, you could estimate a little down in case the guart. ben. corp. takes over.
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Re: Your Current Net Worth
Old 07-22-2005, 06:09 PM   #16
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Re: Your Current Net Worth

I find these kind of comparisons crass. *I will say that I bet my dantien is bigger than yours.
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Re: Your Current Net Worth
Old 07-22-2005, 06:16 PM   #17
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Re: Your Current Net Worth

Quote:
Originally Posted by ronin
I find these kind of comparisons crass. I will say that I bet my dantien is bigger than yours.
DanTien salutes your dan tien
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Re: Your Current Net Worth
Old 07-22-2005, 06:34 PM   #18
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Re: Your Current Net Worth

A poll was the non-crass way to do this--no one tied to a specific net worth.

Interesting to see the different places people are coming from.

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Re: Your Current Net Worth
Old 07-22-2005, 06:44 PM   #19
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Re: Your Current Net Worth

Quote:
Originally Posted by ronin
I find these kind of comparisons crass. *I will say that I bet my dantien is bigger than yours.
Are you kidding?
One of the favorite passtimes on this board has been asserting unlikely IQs.

Ha
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Re: Your Current Net Worth
Old 07-22-2005, 06:46 PM   #20
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Re: Your Current Net Worth

Anonymous poll is a good way to ask this question. *I don't think it is crass done this way.

I did my net worth the old fashioned way asset-liabilities. *Did not include cars (no debt outstanding), household goods, jewelry (not much anyway!) etc. I did not count my pension which is future dollars (20 years from now). *I did include what we paid for the house, not market value...
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