Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 11-13-2014, 11:51 PM   #141
Recycles dryer sheets
lemming's Avatar
 
Join Date: May 2008
Posts: 415
12 year old Volvo. And no it doesn't have a Kerry bumper sticker on it. not even a
Visualize Whirled Peas sticker-and I love that one.
Now the envelope of money carved out for a replacement is over 3% but that is a gleam in my eye for a couple of years.
__________________

__________________
lemming is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-14-2014, 12:11 AM   #142
Thinks s/he gets paid by the post
Cobra9777's Avatar
 
Join Date: Jul 2012
Location: Texas
Posts: 1,136
Quote:
Originally Posted by stepford View Post
Either folks in this thread have some seriously high NW's while driving some seriously crappy cars or else folks are having problems with placing the decimal point. I'm seeing lots of percentages in the .01% range - which means (for example) an old beater car worth $1K and a NW of $10M...
Quote:
Originally Posted by lorikmt View Post
If my calculations are correct, our cars amount to 0.0006% of net worth. Both are Hondas, one a 2001 and one a 2002. I hope they still have a lot of life in them because I'd like them to last longer than we do. They both still run great and look pretty good, too.
Well, I see 4 possibilities here, lorikmt:

1. Your net worth is around $800,000,000, which seems unlikely since you're driving two 12-year-old Hondas.
2. Your two Hondas combined are worth about $12, which seems unlikely since they "run great and look pretty good, too."
3. You read stepford's post and decided to make a subtle ironic joke, which seems unlikely since you only used 3 zeros.
4. Your math is not correct.

I'm going with #4.

Speaking of subtle ironic jokes: The other day my friend was claiming that I don't understand irony... which was ironic because we were at the bus stop.
__________________

__________________
Retired at 52 in July 2013. On to better things...
AA: 55% stock, 15% real estate, 27% bonds, 3% cash
WR: 2.0% SI: 2 pensions, some rental income, SS later
Cobra9777 is online now   Reply With Quote
Old 11-14-2014, 05:40 AM   #143
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Posts: 1,437
<1%. Two 10 year old cars. Bought new and maintained very regularly. We plan to keep the Chevy another year or two and the Lexus as long as it holds up. My experiences the last few years with tech loaded company cars has increased my reluctance to upgrade. For instance the GPS/Radio goes out and the heater won't work. $2k later and it's still a POS.
__________________
Retired in 2016. Living off dividends / interest and a mini pension. Freedom.
foxfirev5 is offline   Reply With Quote
Old 11-14-2014, 05:42 AM   #144
gone traveling
 
Join Date: Sep 2013
Posts: 1,248
My optimal transportation would be something like Prague metro/Prague Trams: 5 month ticket costs about 45 dollars for people over 60.

That would represent nearly nothing from my NW and allow me to have few beers on the way home .

BTW it is one of best Public Transportations in Europe. One thing communists did right.
__________________
eta2020 is offline   Reply With Quote
Old 11-14-2014, 06:08 AM   #145
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 5,899
I'm no accountant, yet I fully understand the nuances. That's why I say things like "I don't count my house in my net worth..." (as opposed to "you shouldn't count your house...") because it's a personal decision based on my personal situation. Certainly my heir(s) would count the money they could get by selling the house (minus fixing-up costs and broker's fees).

Amethyst

Quote:
Originally Posted by Cobra9777 View Post
I also see people on this forum make comments like, "I don't include my house in net worth because I have to live somewhere." Same issue, only more problematic because house values are generally material to NW. And I think in both cases, the problem is derived from the fact that this is a forum dominated by topics about retirement planning. Generally, what the person really means is: "I don't include my house in the subset of assets from which I expect to derive retirement income because I have to live somewhere." The problem stems from a simple misunderstanding of what is actually meant by net worth, which is much closer to aja8888's description:
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Amethyst is offline   Reply With Quote
Old 11-14-2014, 11:15 AM   #146
Thinks s/he gets paid by the post
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 3,846
Quote:
I'm going with #4.
Here's how one would check the math.

Say you come up with 0.02% and you want to validate it's right.

First convert to a decimal =(0.0002)

Type that into your calculator and hit "1/x" =(5000)

Multiply the result by the value of your car, say you spent 12K on a new economy car =(60,000,000).

So that example says the net worth is 60 million.
__________________
sengsational is online now   Reply With Quote
Old 11-14-2014, 12:29 PM   #147
Full time employment: Posting here.
 
Join Date: Apr 2006
Posts: 925
RV + car < 1.5% of current net worth

This % is currently declining because of auto depreciation and portfolio growth; I am hoping for (but not expecting) the portfolio grow to take this % down to some of the infinitesimal numbers posted in this thread.
__________________
If there's one thing in my life that's missing; It's the time I spend alone
Sailing on the cool and bright clear waters; There's lots of those friendly people
Showin me ways to go; And I never want to lose your inspiration
CoolChange is offline   Reply With Quote
Old 11-14-2014, 12:44 PM   #148
Thinks s/he gets paid by the post
nash031's Avatar
 
Join Date: Jun 2013
Location: Coronado
Posts: 1,488
I've never included cars in NW calculations, because at no point do I intend to retain/get the full value of the car. In other words, drive it until the wheels fall or or it's totaled, in which case I'm just getting some portion (trade-in) of the value.

If I did right now, I'd estimate that our 2007 Infiniti G35 (78,000mi) and 2004 Acura RSX (132,000mi) are 1.7% of our NW.
__________________
"So we beat to our own drummer in the sun;
We ask for nobody's permission to run.
I just wanna live in a world like that;
Now I'm gonna live in a world like that!" - World Like That, O.A.R.
nash031 is online now   Reply With Quote
Old 11-14-2014, 01:18 PM   #149
Recycles dryer sheets
Retire2013's Avatar
 
Join Date: Aug 2009
Location: Northern Virginia
Posts: 392
Less than 0.01%
__________________
Formerly known as "Retire 2014" Due to aggressive saving and a lot of luck managed to get out at end of March 2013, hence, the name change :)
Retire2013 is offline   Reply With Quote
Old 11-14-2014, 01:41 PM   #150
Thinks s/he gets paid by the post
Dash man's Avatar
 
Join Date: Mar 2013
Location: Limerick
Posts: 1,671
0.8%


Sent from my iPhone using Early Retirement Forum
__________________
Dash man is offline   Reply With Quote
Old 11-14-2014, 02:12 PM   #151
Thinks s/he gets paid by the post
 
Join Date: Nov 2011
Posts: 2,369
We have some seriously rich or math challenged members, maybe both. For example, .01% means a NW of 10000 times the car's value.
__________________
GrayHare is offline   Reply With Quote
Old 11-14-2014, 02:22 PM   #152
Recycles dryer sheets
Sea Kayaker's Avatar
 
Join Date: Aug 2009
Location: Vancouver/Gulf Islands/Baja
Posts: 479
I think the decimal placement is proving especially troublesome.
__________________
Retired at 42... the world is my oyster, and I am now in the process of shucking the hell out of it.
Sea Kayaker is offline   Reply With Quote
Old 11-14-2014, 02:32 PM   #153
gone traveling
 
Join Date: Sep 2013
Posts: 1,248
Quote:
Originally Posted by GrayHare View Post
We have some seriously rich or math challenged members, maybe both. For example, .01% means a NW of 10000 times the car's value.
Or people driving complete piece of garbage
__________________
eta2020 is offline   Reply With Quote
Old 11-14-2014, 03:36 PM   #154
Dryer sheet wannabe
 
Join Date: Jul 2014
Location: Houston
Posts: 21
My family owns 3 old vehicles that together represent about .013 or 1.3% of our NW. FWIW the value of a car is an asset (that depreciates rapidly). Any loan balance is a liability. The difference between loan and value = the equity on your balance sheet. I don't count my vehicles in calculating my NW because it is so insignificant.
__________________
Dan4495 is offline   Reply With Quote
Old 11-14-2014, 04:12 PM   #155
Recycles dryer sheets
 
Join Date: May 2011
Posts: 272
A lot of people also have a problem with changing parts per million to percentages to grams per ton.
__________________
sanfanciscotreat is offline   Reply With Quote
Old 11-14-2014, 04:25 PM   #156
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,571
Quote:
Originally Posted by sanfanciscotreat View Post
A lot of people also have a problem with changing parts per million to percentages to grams per ton.
I don't even try. There's always some online calculator to do that stuff and I'd just muck it up anyway.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 11-14-2014, 04:27 PM   #157
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,375
Our cars affect our income percentagewise a lot more than our net worth. Big oil should give cars away...
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
Bestwifeever is offline   Reply With Quote
Old 11-14-2014, 05:36 PM   #158
Full time employment: Posting here.
GravitySucks's Avatar
 
Join Date: Feb 2014
Location: Syracuse
Posts: 994
Ouch! I'm closing in on 3%! That counts a new Camry for me (old car had the check engine light come on the day I pulled out of the parking lot my last day of w*rk. Was a frightening sign!) Also includes a collector car that will be auctioned in the spring (Anyone interested in a 73 Rachero?), DD's car that I still need to gift her officially through the DMV, DM's car that has my name on the title to protect it from some unscrupulous people, and an ancient RV I'm trying to bring back to life.

Should drop down to about 1.5 percent in a couple years.

Sent from my Nexus 7 using Early Retirement Forum mobile app
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
GravitySucks is offline   Reply With Quote
Old 11-14-2014, 06:00 PM   #159
Recycles dryer sheets
lemming's Avatar
 
Join Date: May 2008
Posts: 415
It did give me pause to realize replacing a car will be nearly a full year of SWR.
Does that mean I take off a year of my lifespan or like I said before-i've been saving for a new car for years-but no sinking fund.
__________________
lemming is online now   Reply With Quote
Old 11-14-2014, 06:12 PM   #160
Recycles dryer sheets
 
Join Date: Aug 2014
Location: Western Canada
Posts: 393
For those of you who question the % number, I'll let you calculate them (although I don't consider vehicles as assets). I'm only including daily drivers, not my hobby stuff.

NW = ~5M
Cars values = ~ $50K

Cars are 2012 Ford Escape, 2005 Mustang GT and 2007 Ranger.
__________________

__________________
Rick_Head is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How much of your net worth does your home represent? W2R FIRE and Money 151 11-12-2014 03:04 PM
How do you represent cash in firecalc? intransition FIRECalc support 0 02-21-2014 10:08 PM
How much does car color play a part in your car purchase decision? easysurfer Other topics 37 05-14-2011 10:10 AM
What do the stars represent under a person's name Alan Forum Admin 9 07-13-2008 09:07 PM

 

 
All times are GMT -6. The time now is 08:36 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.