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View Poll Results: My home represents this percentage of the total computed in Step 1 (in the first post
0-10% 92 26.44%
10-20% 132 37.93%
20-30% 65 18.68%
30-40% 24 6.90%
40-50% 18 5.17%
>50% 7 2.01%
I rent or do not have a main home 10 2.87%
These poll choices are terrible! None fit me, but I wanted to participate. 0 0%
Voters: 348. You may not vote on this poll

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Old 09-24-2016, 10:53 AM   #161
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Originally Posted by DFW_M5 View Post
See the table in this article that shows median net worth by age, with and without home equity included. Data is from US Census Bureau and it makes me wonder how so many can survive a long life or retirement with these numbers:
Americans' Average Net Worth by Age -- How Do You Compare? -- The Motley Fool

It would be interesting to see the numbers of people that make up each data age group. I can only assume that many people are planning to rely on SS and/or a pension to survive.
I cannot believe these numbers, I was just interviewed by some census folks, and their questioning was sloppy and haphazard giving a very distorted view of many factors.

Plus, you can refuse to answer, so I'm pretty sure well off, rich folks don't want to suddenly become a target by stating the total of their assets.

Finally, who trusts the government official asking you how many millions do you have, and how liquid is your money. It's like being screened for a kidnapping event.

However if you are what I will call poor and have a total of $45K for your lifetime savings, then speak up loudly as you may suddenly qualify for more free money.
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Old 09-24-2016, 10:55 AM   #162
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I just wanted to compare investments to home equity, without getting into the net worth definition which can be such a hornet's nest. The poll is just for fun, not to prove anything whatsoever.
This poll has nothing whatsoever to do with net worth. Just in case some of you hadn't noticed.
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Old 09-24-2016, 10:58 AM   #163
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Absolutely NONE. PLEASE do not attempt to get any sort of scientific information at all from this poll, or from reading Winnie the Pooh either.

I don't know how to explain fun to those that may not understand it, and who have been puzzled by my many posts saying that this is not a scientific poll but just something fun to do on a Wednesday afternoon. But anyway that's what the poll was for.

Feel free to post your own polls if you want to design something to extract information.
So, from what I'm able to determine from your responses, you are implying that those who fall outside the undisclosed parameters of your subtle & secretive manipulation of their habitational preferences, are fraught with inadequacies, sexual/social and emotional, for which they try to compensate by either exaggerating or downplaying the ratio of their assets against those to whom they feel inferior?

I think I've nailed it! Right?
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Old 09-24-2016, 11:00 AM   #164
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I count my house as a very important "retirement asset" and I'll show you why.

The most important thing is I like it, it has a good view, it's comfy and energy efficient and has no stairs. Also not too big (1400 sq-ft) so it's easy to navigate and keep clean. Also fully paid off and that's the kicker.

I get 15 grand a year in SS survivor benes.

Property tax 2000/yr
TV, internet, phone 2400/yr
Cell phone 640/yr
Health Ins 6432/yr
Water, sewer, trash 1224/yr
Gas & electric 1800/yr

Total - $14,500/yr

My meager little survivor bene covers all the above, which is pretty sweet.

I looked at houses for rent in this area and they are ~$1.00/sq-ft, so my rent would be 1400/mo or $16,800/yr and I couldn't even pay the rent with SS.

That's the real reason to buy a house, eventually you end up with a free house -
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Old 09-24-2016, 11:36 AM   #165
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I think I've nailed it! Right?
(laughing breathlessly!) Or something!
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Old 09-24-2016, 12:45 PM   #166
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I count my house as a very important "retirement asset" and I'll show you why.

The most important thing is I like it, it has a good view, it's comfy and energy efficient and has no stairs. Also not too big (1400 sq-ft) so it's easy to navigate and keep clean. Also fully paid off and that's the kicker.

I get 15 grand a year in SS survivor benes.

Property tax 2000/yr
TV, internet, phone 2400/yr
Cell phone 640/yr
Health Ins 6432/yr
Water, sewer, trash 1224/yr
Gas & electric 1800/yr

Total - $14,500/yr

My meager little survivor bene covers all the above, which is pretty sweet.

I looked at houses for rent in this area and they are ~$1.00/sq-ft, so my rent would be 1400/mo or $16,800/yr and I couldn't even pay the rent with SS.

That's the real reason to buy a house, eventually you end up with a free house -
I'm glad your SS survivor benefit covers you essential housing expenses; great position to be in.

But, don't ever think that owning a house is "free." Cost effective perhaps but, never, ever free.
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Old 09-24-2016, 01:02 PM   #167
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Oh yeah, I understand the maintenance and upkeep and look forward to the "upgrades" too. That's another big bene, your landlord isn't going to install the plushest softest most foot comfy expensive carpet he can find, he's going to put in some cheap crap and then rip it out when you leave and put in some cheaper crap for the new guy.
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Old 09-24-2016, 02:55 PM   #168
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I cannot believe these numbers, I was just interviewed by some census folks, and their questioning was sloppy and haphazard giving a very distorted view of many factors.

Plus, you can refuse to answer, so I'm pretty sure well off, rich folks don't want to suddenly become a target by stating the total of their assets.

Finally, who trusts the government official asking you how many millions do you have, and how liquid is your money. It's like being screened for a kidnapping event.

However if you are what I will call poor and have a total of $45K for your lifetime savings, then speak up loudly as you may suddenly qualify for more free money.
I don't but much faith in their numbers either, remember it was also the census bureau who recently said average household income levels in 2015 increased more than at any other year over year period since 1968. Makes me think someone is cooking the books.
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Old 09-24-2016, 03:11 PM   #169
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I don't but much faith in their numbers either, remember it was also the census bureau who recently said average household income levels in 2015 increased more than at any other year over year period since 1968. Makes me think someone is cooking the books.
The Census Bureau didn't report that. Here's their news release Income, Poverty and Health Insurance Coverage in the U.S.: 2015
Quote:
  • Real median incomes in 2015 for family households ($72,165) and nonfamily households ($33,805) increased 5.3 percent and 5.4 percent, respectively, from their 2014 medians. This is the first annual increase in median household income for family households since 2007. The most recent increase for nonfamily households was in 2009. The increases of 5.3 percent and 5.4 percent for family and nonfamily households were not statistically different.
  • Real median household income in 2015 was 1.6 percent lower than in 2007, the year before the most recent recession, and 2.4 percent lower than the median household income peak that occurred in 1999. The difference between the 1.6 percent change and the 2.4 percent change was not statistically significant.
Glad I was able to restore your faith in the US Census Bureau.
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Old 09-24-2016, 04:38 PM   #170
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30% barely... feeling poor when we are remodeling and spending the cash.

Living nearby DD and DGD and paid a premium...
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Old 09-24-2016, 04:42 PM   #171
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The Census Bureau didn't report that. Here's their news release Income, Poverty and Health Insurance Coverage in the U.S.: 2015

Glad I was able to restore your faith in the US Census Bureau.
I am not sure you restored my faith, but this is where I saw this mentioned:
http://www.nytimes.com/2016/09/14/bu...2015.html?_r=0
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Old 09-26-2016, 08:55 PM   #172
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I live in a rental penthouse that is valued at $3.3 million in Vancouver. We only live there for 5 months and rent it out for 5 months for $5000/mo when we are away. This is a slightly above break-even rental price (including utilities).

Our other home for 5.5 months is $350,000 in PV MX. (Is this the PR?) The rest of the time is travelling. Just got back from a trip up through Whistler and east (through a couple of ranches) to the Okanagan for wine-tasting. This and Europe take up our time.

As to percentages, I estimate 28% of net portfolio for both residences. Slightly house poor for a 14 year retired person! But Vancouver pushes it higher, while Mexico pulls it down. And we can change it easily if needed.
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Old 09-27-2016, 06:58 AM   #173
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At about 20%, but its paid for and I'm still at least 5 years from retirement, so expect it to drop by the time we retire. It was 33% about 2 years ago before we downsized after becoming empty nesters.
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Old 09-27-2016, 07:03 AM   #174
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Originally Posted by RobbieB View Post
I count my house as a very important "retirement asset" and I'll show you why.

The most important thing is I like it, it has a good view, it's comfy and energy efficient and has no stairs. Also not too big (1400 sq-ft) so it's easy to navigate and keep clean. Also fully paid off and that's the kicker.

I get 15 grand a year in SS survivor benes.

Property tax 2000/yr
TV, internet, phone 2400/yr
Cell phone 640/yr
Health Ins 6432/yr
Water, sewer, trash 1224/yr
Gas & electric 1800/yr

Total - $14,500/yr

My meager little survivor bene covers all the above, which is pretty sweet.

I looked at houses for rent in this area and they are ~$1.00/sq-ft, so my rent would be 1400/mo or $16,800/yr and I couldn't even pay the rent with SS.

That's the real reason to buy a house, eventually you end up with a free house -
You don't really end up with a free house. You have to pay taxes and insurance; and the upkeep over time should be factored into your budget. If you rent, you have a lesser insurance fee, but no taxes and no upkeep.
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Old 09-28-2016, 02:22 AM   #175
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According to Zillow (no trust there), the value has gone up 15% in the one year we have lived here. That wipes out--in theoretical Zillow dollars, to be sure--the small mortgage we took out to buy it after selling our TX house and cabin.
It's a little disturbing.
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Old 09-28-2016, 10:07 AM   #176
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But, don't ever think that owning a house is "free." Cost effective perhaps but, never, ever free.
Yep. One argument for paying off a mortgage is "I wanted to be secure that I could never lose my house. Now I can sleep at night" My RE taxes are hundreds per month for our modest house in a modestly-taxed area. When I see all the homes in the "tax lien auctions" section of our newspaper, I wonder if all those owners are sleeping comfortably at night.
Nope, owning a house is never "free", even if you really do "own" it.
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Old 09-28-2016, 10:25 AM   #177
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I know it's not free...just like I know I always have debt.

Property tax - 2 grand/yr
Insurance - 8 hundred/yr
Maintenance - 2 grand/yr

Yup that's $4800/yr as compared to 16,800 rent for a 12 grand discount. This year I used my 12 grand discount to put solar on the roof so I can get free electricity for the next 25 years.

I love being a homeowner -
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Old 09-28-2016, 11:29 AM   #178
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This year I used my 12 grand discount spent 17 grand of my money to put solar on the roof so I can get free electricity for the next 25 years.
You just can't help yourself. "free electricity?"
" I just paid $50,000 for a Lincoln so I could have a free car."

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I love being a homeowner -
Me, too.
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Old 09-28-2016, 12:31 PM   #179
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The dough I save owning vs renting for the next 3 years 12x3=36 will buy me that free car too -
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Old 09-28-2016, 01:15 PM   #180
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Why would anyone want to buy a free car?
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