Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 11-07-2019, 08:21 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 26,201
Quote:
Originally Posted by imoldernu View Post
How do you measure your net worth? Variables:

Government standards or other financial sources.
Male? Female? Household? Household size?
Average? Median?
Age: Specific or range?
Include home or not.

and other factors.... education, compared to salary, other variables... pension,Social Security, annuity, insurance policies, location (average COL).

No... It really doesn't matter but we all use "Net Worth" as a factor in planning, budgeting and setting our personal goals.

Do you have a source that you use as a standard for comparison?
I don't really know how much someone with my background, education, and work experience should have. He could be anywhere from a homeless guy to a centimillionaire or billionaire. A lot of random things happens in life.

I know what I have, and I can live comfortably with that. I do not know how compare myself to someone else.
__________________

__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   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 11-07-2019, 08:21 PM   #22
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 3,237
I use a number I call FIRE Pool. It’s made up of all the assets I will access in retirement.
So its my portfolio, real estate investments and a present value of expected social security.
To me, that is the only number that matters. I am not selling my house, cars or furniture in retirement, so why track it.
__________________

COcheesehead is offline   Reply With Quote
Old 11-07-2019, 08:58 PM   #23
Recycles dryer sheets
 
Join Date: Jul 2016
Location: Chicago
Posts: 188
I count investments/529/HSA/savings/house equity. I don't count cars, personal property. I don't have any pensions. I don't count social security. I track change in net worth quarterly. I don't track investment returns. Off topic, but I track AA quarterly and adjust if 5% or more off my desired AA.
HarveyS is offline   Reply With Quote
Old 11-07-2019, 09:06 PM   #24
Full time employment: Posting here.
davebarnes's Avatar
 
Join Date: Dec 2015
Location: Berkeley, Denver, CO, USA
Posts: 939
We just count what we have at Fido. I run the retirement planner and it says the widow will die with $29K in 2054.
No house.
No small HELOC.
No NPV of 2 SS.
No savings in the credit union.

Two engineering degrees and an MBA and I just can’t be that anal retentive.
__________________
Dave Barnes
Old (71.2) Fart Nerd
AA 70/27/3, WR=3.9% (living on the edge), 95.6% retired, still working 1/4ish hrs/day
davebarnes is offline   Reply With Quote
Old 11-07-2019, 10:25 PM   #25
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 24,220
Quote:
Originally Posted by W2R View Post
+1 Because of that, I don't really compute it.

I do keep track of another sum that interests me more, although I don't call it "net worth" (because it isn't).That is the sum of my investment accounts and bank accounts. ....
+1 I focus on that number much more than net worth.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56...target 65/35/0 AA
pb4uski is offline   Reply With Quote
Old 11-07-2019, 10:47 PM   #26
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 26,201
>>>

Please note that the OP was asking about comparing or benchmarking your networth against your peers.

It's not just about knowing what you have.

>>>
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 11-07-2019, 11:00 PM   #27
Recycles dryer sheets
 
Join Date: Mar 2014
Posts: 105
I consider net worth in the traditional sense (assets minus liabilities) but Iím pretty sure Iíve never figured out the actual number at any specific point in time.

We have a high value house (paid off) because we live in a HCOL area. Our retirement funds are low for what we will spend because we have 2 pensions that I think are pretty good. But I donít think that the pensions themselves can count in net worth.

So any number I generate is kind of meaningless.
PandaBear is offline   Reply With Quote
Old 11-07-2019, 11:01 PM   #28
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 4,965
Quote:
Originally Posted by pb4uski View Post
I don't really use net worth for much of anything other than making myself feel good.

I include all assets and liabilities, including home value... but not the imputed value of my defined benefit pension or social security... and not deferred income taxes on tax-deferred assets even though I know that technically* deferred income taxes should be included.

* like if I was doing a personal financial statement for a bank or other creditor.
+1
__________________
TGIM
Dtail is offline   Reply With Quote
Old 11-07-2019, 11:05 PM   #29
Full time employment: Posting here.
FlaGator's Avatar
 
Join Date: Aug 2008
Location: The 850
Posts: 599
When working, benchmarking was helpful for me to ensure I was keeping savings cranked up. Doesnít matter now. more interested in making sure what I have lasts to the end
__________________
Stay at home slacker dad since 2015
FlaGator is offline   Reply With Quote
Old 11-07-2019, 11:24 PM   #30
Recycles dryer sheets
 
Join Date: Aug 2017
Posts: 182
I have a google finance sheet which updates automatically from ticker symbols and calculates:

Net worth: Assets including zillow value of home (I have no liabilities).

Liquid net worth: Assets excluding home

Post tax liquid net worth: Liquid net worth after discounting capital gains by 27 % and retirement accounts by 31 % for expected taxes. (This is an estimate of money I can actually spend.

Estate value: Net worth discounting retirement accounts by 30 % for expected taxes my heirs might pay. (This is an estimate of money my heirs might expect to have to spend if I died.)
Scratchy is offline   Reply With Quote
Old 11-08-2019, 04:27 AM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 23,514
Quicken tracks it for me automatically. The only real asset in Quicken is our house, and that is not a major component and changes little.

It also includes credit card liabilities as I download transactions.
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 11-08-2019, 04:30 AM   #32
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 23,514
Quote:
Originally Posted by Scratchy View Post
I have a google finance sheet which updates automatically from ticker symbols and calculates:

Net worth: Assets including zillow value of home (I have no liabilities).
Donít you use credit cards?
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 11-08-2019, 04:54 AM   #33
Confused about dryer sheets
 
Join Date: Dec 2016
Posts: 8
I track NW in Quicken going back to Ď87. Very fun to watch it go up, down-not so much. I track All assets minus liabilities. Except SS. I have a lot of equity appreciation that will be taxed one day in both tax deferred and taxable accounts. I wonder if I am fooling myself because the tax bite will be large.

Just make sure for comparisons that you are using the same definitions.
Floridaman10 is offline   Reply With Quote
Old 11-08-2019, 05:02 AM   #34
Thinks s/he gets paid by the post
DrRoy's Avatar
 
Join Date: Dec 2015
Location: Michigan
Posts: 2,867
Quote:
Net worth is the household assets (and liabilities) - including the house.

Net Investible Assets is what I use for financial planning.
+1. I do take interest in where we stack up compared to those of similar age in the US, but that is not relevant to how I manage or use the $.
__________________
"The mountains are calling, and I must go." John Muir
DrRoy is offline   Reply With Quote
Old 11-08-2019, 06:33 AM   #35
Thinks s/he gets paid by the post
 
Join Date: Jun 2003
Location: Historic Florida
Posts: 3,867
I use what Quicken tells me, but basically it is...………..

The Value of crap you own +cash Minus the value of crap you owe.

Seriously we do not include cars, furniture, art, antiques, jewelry etc., or anyTHINGs that we own other than our home. I think it has to be stuff that can easily be liquidated. A home is one thing that sometimes defies that rule. Also people sometimes think their home is worth more than it really is, (Guilty here too) as it is worth more to them.
__________________
"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."
ShokWaveRider is offline   Reply With Quote
Old 11-08-2019, 06:43 AM   #36
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 9,580
Quote:
Originally Posted by pb4uski View Post
I don't really use net worth for much of anything other than making myself feel good.

I include all assets and liabilities, including home value... but not the imputed value of my defined benefit pension or social security... and not deferred income taxes on tax-deferred assets even though I know that technically* deferred income taxes should be included.

* like if I was doing a personal financial statement for a bank or other creditor.
+1 I do exactly this and for the same reason.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 11-08-2019, 07:01 AM   #37
Thinks s/he gets paid by the post
steelyman's Avatar
 
Join Date: Feb 2011
Location: NC Triangle
Posts: 4,425
Quote:
Originally Posted by pb4uski View Post
I don't really use net worth for much of anything other than making myself feel good.

Iím the same way. Although I do remember, back in the first half of 2009, generating (with Quicken) a cost basis vs current value graph for my retirement portfolio, all in IRA/403(b)/457 accounts. I guess ďunder waterĒ might be a way to describe it. That didnít make me feel good a-tall.

Fortunately, that didnít last!
__________________

steelyman is offline   Reply With Quote
Old 11-08-2019, 07:35 AM   #38
Full time employment: Posting here.
 
Join Date: Jul 2013
Posts: 811
Holy smokes...yet another thread about the definition of net worth.
mrfeh is offline   Reply With Quote
Old 11-08-2019, 07:41 AM   #39
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 21,964
Quote:
Originally Posted by NW-Bound View Post
>>>

Please note that the OP was asking about comparing or benchmarking your networth against your peers.

It's not just about knowing what you have.

>>>
If my definition of "my peers" is "anyone with the same net worth as I have", the question answers itself!

-ERD50
ERD50 is offline   Reply With Quote
Old 11-08-2019, 07:43 AM   #40
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: NE Ohio
Posts: 1,198
Quote:
Originally Posted by jazz4cash View Post
Not me. Living in HCOL area, home value becomes a disproportionate chunk that you canít spend and canít eat.
I don't live in a HCOL area, but I agree that our residence shouldn't be included in our calculations to determine our overall financial situation. Every month I update a spreadsheet with our account balances, YTD investment income, and estimated investment income over the next 12 months, all taken from the monthly statements. I have some of that info linked to another spreadsheet that includes YTD deposits from DH's net pay and YTD spending (not categorized). I can see at a glance our aggregate financial picture.
__________________

gwraigty 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
Measuring progress to FIRE while w*rking jIMOh Young Dreamers 12 02-22-2010 01:45 PM
Any interesting ways for measuring progress? Crichton Young Dreamers 3 08-05-2008 07:07 PM
Retirement locations-- "Measuring Beauty" Nords Life after FIRE 34 05-12-2005 10:49 PM
Measuring success Skylark Young Dreamers 30 02-20-2004 03:57 PM

» Quick Links

 
All times are GMT -6. The time now is 05:12 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
×