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View Poll Results: Estimate Your Current Net Worth
Negative 1 0.54%
0 - 25,000 0 0%
25,000 - 50,000 2 1.09%
50,000 - 100,000 2 1.09%
100,000 - 200,000 7 3.80%
200,000 - 300,000 3 1.63%
300,000 - 400,000 9 4.89%
400,000 - 500,000 10 5.43%
500,000 - 600,000 7 3.80%
600,000 - 700,000 11 5.98%
700,000 - 800,000 15 8.15%
800,000 - 900,000 6 3.26%
900,000 - 1,000,000 8 4.35%
1,000,000 - 1,250,000 13 7.07%
1,250,000 - 1,500,000 21 11.41%
1,500,000 - 1,750,000 11 5.98%
1,750,000 - 2,000,000 9 4.89%
2,000,000 - 2,250,000 9 4.89%
2,250,000 - 2,500,000 7 3.80%
2,500,000 - 2,750,000 7 3.80%
2,750,000 - 3,000,000 4 2.17%
3,000,000 - 3,250,000 2 1.09%
3,250,000 - 3,500,000 2 1.09%
3,500,000 - 3,750,000 0 0%
3,750,000 - 4,000,000 1 0.54%
4,000,000 - 4,250,000 6 3.26%
4,250,000 - 4,500,000 2 1.09%
4,500,000 - 4,750,000 0 0%
4,750,000 - 5,000,000 3 1.63%
5,000,000 - 6,000,000 4 2.17%
6,000,000 - 7,000,000 0 0%
7,000,000 - 8,000,000 0 0%
8,000,000 - 9,000,000 2 1.09%
9,000,000 - 10,000,000 0 0%
Voters: 184. You may not vote on this poll

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New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 06:30 AM   #1
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New Improved 2005 ER Forum Current Net Worth Survey

It's Back.
The 2005 ER Forum Current Net Worth Survey
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 07:54 AM   #2
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

We've got someone in the $8-9MM range?
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 07:55 AM   #3
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Quote:
Originally Posted by Jay_Gatsby
We've got someone in the $8-9MM range?
Right and they are on dial up too !
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 08:35 AM   #4
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Quote:
Originally Posted by DanTien
It's Back.
The 2005 ER Forum Current Net Worth Survey
Geez Louise DT, how long did it take you to create this long a$$ list?
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 08:52 AM   #5
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Do you include your principal residence in your net worth or not ?

Maybe a definition of net worth would be appropriate first.
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 09:11 AM   #6
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Standard definition of net worth is the value of all assets less liabilities.

It is not just income producing assets. And future potential tax liabilites are not typically deducted either.
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 09:12 AM   #7
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

assets - liabilities = net worth, in my case
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 09:17 AM   #8
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Quote:
Originally Posted by Jay_Gatsby
We've got someone in the $8-9MM range?
As far as WE can tell, sure. Yeah, that's it.

We include our home equity in our net worth, but that seems pretty silly at today's prices...
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 09:27 AM   #9
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Housing equity attributable to actual payments made against mortgage principal might be a more "fair" way of looking at things. Then again, the appreciation in real estate is really no different than the appreciation in stocks...except that you can't live in stocks (well maybe you can, but living in those kind of stocks raises a more kinky issue).
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 09:52 AM   #10
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

OK - More issues...

For a stream of income payments like a pension or your money sharking operation, Do you add in the net present value of those payments to your net worth ?


How do you account for medical benefit(s). Are they part of your net worth ?
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 09:56 AM   #11
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Quote:
Originally Posted by MasterBlaster
OK - More issues...
For a stream of income payments like a pension or your money sharking operation, Do you add in the net present value of those payments to your net worth ?
How do you account for medical benefit(s). Are they part of your net worth ?
Here we go again...

Do you suppose that MBA universities encounter these discussions in their finance classes?
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 10:06 AM   #12
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Quote:
Do you suppose that MBA universities encounter these discussions in their finance classes?
Yes, the 2 folks that I know that have finance degrees argue excessively about home equity, but neither of them have a house, so I wonder.....
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 11:33 AM   #13
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Quote:
Originally Posted by cube_rat
Geez Louise DT, how long did it take you to create this long a$$ list?
Over the course of a bowl of cheerios and chatting with wife about how The Minneapolis Institute of Arts where she is a docent is getting ready to open the new Michael Graves designed wing and how much deep **** they are in because they have a looted vase from Italy, who are now putting a Getty honcho on trial in Rome for multiple instances of same...about 1 hour :
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 12:08 PM   #14
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

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Originally Posted by MasterBlaster
Maybe a definition of net worth would be appropriate first.
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 12:15 PM   #15
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Quote:
Originally Posted by Nords
Here we go again...

Do you suppose that MBA universities encounter these discussions in their finance classes?

There wouldn't be much of an argument. Every first year MBA can offer you a calculation of the PV of a stream of cash flows. Easy-peasy.
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 12:28 PM   #16
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Still, I think it is rare that net worth calculations include the present value of a pension. Instead, you need less net worth because you have a pension. But then again, the present value of an annuity is generally considered part of net worth. . .

This is my banker client talking.



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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 01:10 PM   #17
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

WoW,* over 50% (so far) have $1M plus and 10% have $4M or more.*

The person with $8-9M better be retired and living on a tropical island or I am really going to lose my respect for that kind of money.* *
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 02:48 PM   #18
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

WOO-HOO...IM THE LOWEST SO FAR ON THE TOTEM POLE...MAYBE THE YOUNGEST TOO...
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 02:50 PM   #19
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

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WOO-HOO...IM THE LOWEST SO FAR ON THE TOTEM POLE...MAYBE THE YOUNGEST TOO...
Thank you for making me not be the poorest person on this board. Or youngest...
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Re: The New Improved 2005 ER Forum Current Net Worth Survey
Old 11-17-2005, 02:51 PM   #20
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Re: The New Improved 2005 ER Forum Current Net Worth Survey

Quote:
Originally Posted by MasterBlaster
For a stream of income payments like a pension or your money sharking operation, Do you add in the net present value of those payments to your net worth ?

How do you account for medical benefit(s). Are they part of your net worth ?
Streams of income, even at net present value are not part of your net worth. *Neither are medical benefits.

Net worth = Assets - Liabilities

Streams of income and benefits are not assets.
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