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View Poll Results: How much $ do you have NOW: (Holdings+Home Equity+(Annual Pension*25)) MINUS big non-mortgage debt?
$3-10 million 24 15.00%
$2-3 million 31 19.38%
$1-2 million 54 33.75%
$500k-1 million 27 16.88%
$250k-$500K 14 8.75%
Under $250K 10 6.25%
Over $10 million 0 0%
Voters: 160. You may not vote on this poll

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Part 2: Watcha worth?
Old 03-17-2006, 01:42 PM   #1
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Part 2: Watcha worth?

OK - to all the old biddies who wanted a more "meaningful" poll as to the range of net worth represented on this board, here is a more to-the-point Part 2 . It takes inflation out by making it all current $, and accounts for pension presuming a 4% SWR equivalent. (Actually my original poll was kinda lame* .)

How much $ do you have NOW: (Holdings+Home Equity+(Annual Pension*25)) - big non-mortgage debt.

Let's get another snapshot. I'll kill the first poll.
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Re: Part 2: Watcha worth?
Old 03-17-2006, 01:49 PM   #2
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Re: Part 2: Watcha worth?

Why isnt mortgage debt considered?

Appears some people are inflating their portfolio by arbing the debt in their home.

Not sure why you wouldnt treat someone with $2m and a $500k mort differently from someone with $2m and no debt at all.

I'm a little confused on what you're trying to learn. If its net worth now, there are a bunch of polls on that where we engaged in thousands and thousands of disagreements on what constituted net worth and with a very broad reported distribution with high concentration in the 1-3M range. If its net worth at the time of retirement, thats a whole different can of worms.

I *think* that since you've been one of the 'on the fence/should i/shouldnt i/one more year?' trend that you're looking for the breakpoint at which people decide to 'go'. Or is it something else?
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Re: Part 2: Watcha worth?
Old 03-17-2006, 01:50 PM   #3
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Re: Part 2: Watcha worth?

Rich,
We have done this one a few times already and you might want to add some additional ranges on the upper end. *I recall we had some folks here with $10MM or more.

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Re: Part 2: Watcha worth?
Old 03-17-2006, 01:53 PM   #4
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Re: Part 2: Watcha worth?

i'll play. im 24, i owe 100k on a 135k home

I have 6500 in 401k/roth, and about the 8k in cash
i have 10k in cc debt (though it is business related and will be paid in full in 10 months...so i wont include it)



my final answer = $49,000, so my SWR could be 1900 bucks!
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Re: Part 2: Watcha worth?
Old 03-17-2006, 01:58 PM   #5
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Re: Part 2: Watcha worth?

Quote:
Originally Posted by Cute 'n Fuzzy Bunny
I *think* that since you've been one of the 'on the fence/should i/shouldnt i/one more year?' trend that you're looking for the breakpoint at which people decide to 'go'. Or is it something else?
Hey, CFB - you sound like a shrink. *"Sometimes a cigar is just a cigar."

Just curious as to how this group is spread out. *No hidden agenda.

I'm pretty sure that within reason, net worth has very little to do with net happiness - this poll will be more descriptive than analytical.
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Re: Part 2: Watcha worth?
Old 03-17-2006, 01:59 PM   #6
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Re: Part 2: Watcha worth?

Hey, this calculation is fun!

Quote:
Originally Posted by Cute 'n Fuzzy Bunny
Why isnt mortgage debt considered?
I thought home equity was the home's sale price minus the mortgage balance.
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Re: Part 2: Watcha worth?
Old 03-17-2006, 02:02 PM   #7
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Re: Part 2: Watcha worth?

Quote:
Originally Posted by Nords
Hey, this calculation is fun!
I thought home equity was the home's sale price minus the mortgage balance.
Yeah ok, i'm a dummy that cant read :P

Rich - a cigar is NEVER just a cigar.

Dan Tien did a recent poll that has the info you're looking for.
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Re: Part 2: Watcha worth?
Old 03-17-2006, 02:03 PM   #8
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Re: Part 2: Watcha worth?

Right here...
http://early-retirement.org/forums/i....0;viewResults

Fat in the 1-2M range, but all over the frickin place.

Simpsons did it!
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Re: Part 2: Watcha worth?
Old 03-17-2006, 02:17 PM   #9
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Re: Part 2: Watcha worth?

Quote:
Originally Posted by Cute 'n Fuzzy Bunny
Dan Tien did a recent poll that has the info you're looking for.
One of the benefits of a repeat poll is that we get to change our answers!
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Re: Part 2: Watcha worth?
Old 03-17-2006, 02:28 PM   #10
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Re: Part 2: Watcha worth?

NW without pension = $680K

Pension calc based on today's dollars and assuming I left today would be $469K.

That's assuming 15 years working instead of 30, because that's all I have so far. Is that the number you wanted to use?

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(who, at turning 37 tomorrow, hopes to be done with work in 15 years)
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Re: Part 2: Watcha worth?
Old 03-17-2006, 03:43 PM   #11
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Re: Part 2: Watcha worth?

It seems to me that backing into the asset base required throw off a 4% SWR is interesting and works fine until you die.

If you have a defined benefit plan, your payments stop and your estate/spouse gets nothing. So I guess your net worth attributable to the pension goes to zero. But I guess if you are dead, it doesn't matter.
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Re: Part 2: Watcha worth?
Old 03-17-2006, 03:56 PM   #12
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Re: Part 2: Watcha worth?

Quote:
Originally Posted by Rich_in_Tampa

I'm pretty sure that within reason, net worth has very little to do with net happiness - this poll will be more descriptive than analytical.
If you can provide for you and yours basic needs, I don't think money has much of anything to do with happiness. You adapt.

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Re: Part 2: Watcha worth?
Old 03-17-2006, 04:06 PM   #13
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Re: Part 2: Watcha worth?

But it doesnt make you less happy, and it can in fact make misery a little more interesting.
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Re: Part 2: Watcha worth?
Old 03-17-2006, 04:45 PM   #14
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Re: Part 2: Watcha worth?

Quote:
Originally Posted by roadkill

If you have a defined benefit plan, your payments stop and your estate/spouse gets nothing. So I guess your net worth attributable to the pension goes to zero. But I guess if you are dead, it doesn't matter.
Many defined benefit pensions have provisions for a survivor annuity. My wife will continue to receive 55% of my pension if I croak. So her net worth would continue to have that included.

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Re: Part 2: Watcha worth?
Old 03-17-2006, 05:47 PM   #15
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Re: Part 2: Watcha worth?

Quote:
Originally Posted by Rich_in_Tampa

...I'm pretty sure that within reason, net worth has very little to do with net happiness - this poll will be more descriptive than analytical.
I guess that would depend on the individual. I can assure you I am much happier with my current NW than I was 15 years ago. Would I be happier with twice what I have now? I can't say I would be happier as much as I would be more able to maintain a much higher life style that would allow me to do more things, go more places with more comfort than I can today. Being more comfortable might make me a little happier but it would be difficult to quantify. How much happier would I be flying first class vs coach? How much happier would I be renting a sports car vs a family sedan? How much happier would I be buying better wine, better food and having nicer hotel rooms? Hard to say. I think it would be short lived. Once I adjusted to this higher life style I would then be less happy because I might then wish for a higher one. The "comfort" spiral would be created and each further gain could result in only a transitory gain in happiness. The trip up might be a nice ride but I don't really think I would be all that much happier....just more spoiled.

How happy is Bill Gates compared to most of us? No way to gauge that. He is certainly more able to do most anything he wants but is he truly happier? If his net worth were to double would he be happier? How about if it dropped to under $100k?

Some people can be happy no matter what they do or how much they have as long as they are "comfortable" and don't have to sweat where the next meal is coming from. Others are unhappy no matter how much they have.
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Re: Part 2: Watcha worth?
Old 03-17-2006, 05:59 PM   #16
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Re: Part 2: Watcha worth?

Quote:
Originally Posted by SteveR
I guess that would depend on the individual. I can assure you I am much happier with my current NW than I was 15 years ago.
Hmm.. let's see. My college years - broke, happy as a clam. Medical school? Negative income, busting my ass, happy as a clam. Residency? Hand to mouth. Hated most of it, til my kids got a little older, then happy as a clam when I wasn't pathologically sleep-deprived. Early career: in debt, happy as a clam. Mid-career: lots of money, starting to get hassled with the administrative overhead, worrying about tuition for 2 kids. OK years, but not the best. Back to teaching: little less income, happy as a clam. Academic promotions: more money, happy as a clam. Capstone job: most money in my life, much of it being diverted to retirement savings, never busier or more responsibility. Happy as a clam.

Nope, no correlation here between income and happiness. Hope retirement brings basically more of the same.
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Re: Part 2: Watcha worth?
Old 03-17-2006, 06:40 PM   #17
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Re: Part 2: Watcha worth?

I dont think its linear, but I think life is a lot more pleasant when you're no longer scrambling to pay the bills and worry about your financial future. So maybe at some point, money DOES buy a little happiness...
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Re: Part 2: Watcha worth?
Old 03-17-2006, 07:42 PM   #18
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Re: Part 2: Watcha worth?

Quote:
Originally Posted by Cute 'n Fuzzy Bunny
So maybe at some point, money DOES buy a little happiness...
"I've been rich and I've been poor... Believe me, rich is better."

-- Mae West, who knew about all kinds of happiness
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Re: Part 2: Watcha worth?
Old 03-17-2006, 07:48 PM   #19
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Re: Part 2: Watcha worth?

~$750 000 with no mortgage and not counting Canada Pension Plan and OAS for 2.
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Re: Part 2: Watcha worth?
Old 03-17-2006, 08:14 PM   #20
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Re: Part 2: Watcha worth?

Quote:
Originally Posted by Nords
"I've been rich and I've been poor... Believe me, rich is better."

-- Mae West, who knew about all kinds of happiness
Indeed...and given that the majority of relationship/marriage problems are related to money or sex, if you've got plenty of money and great sex, you're probably in the clear!
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