View Poll Results: What is the value of your house to your total net worth
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Less than 5%
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13 |
4.29% |
5% or more but less than 10%
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73 |
24.09% |
10% or more but less than 15%
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65 |
21.45% |
15% or more but less than 20%
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56 |
18.48% |
20% or more but less than 25%
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43 |
14.19% |
25% or more
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48 |
15.84% |
I / We don’t own
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5 |
1.65% |
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Poll - House value to net worth
07-18-2017, 08:48 AM
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#1
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,518
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Poll - House value to net worth
The popularity of this thread suggests we should have a poll. http://www.early-retirement.org/foru...rth-87686.html
What is the value of your house to your total net worth, as a percent, using your best guess at the current estimated market value the market value. If you have a mortgage, subtract it from your net worth. If you have multiple residences for personal use, include them all.
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07-18-2017, 08:53 AM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,836
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Two homes, and I voted between 5 and 10%. Probably close to 7%.
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07-18-2017, 08:58 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,654
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I voted 20% as I live in an arear where the average price of a home is $800k Not sure what the poll proves?
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"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
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07-18-2017, 09:00 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Ventura County
Posts: 1,431
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16% of my NW, 12% if you include DW's NW as well (though mine's the only name on the deed) so I answered 10-15%. I suspect my fellow residents of CA and other areas of ridiculously expensive housing skew this number higher than one might otherwise expect.
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07-18-2017, 09:09 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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I came in at 12.1%. I did count what I call "perceived value" of my COLA-protected pension which makes my numbers pretty useless to most people. What is my "perceived value" of my pension you ask? Basically the lump sum I would be required to have in order to draw 3.5% after tax.
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
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07-18-2017, 09:16 AM
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#6
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Recycles dryer sheets
Join Date: Nov 2010
Location: Little Trailer Down By The River
Posts: 190
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Meaningless to me as I do not include my home value in my net worth.
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"Here's to them who would read,
Here's to them that would write.
There's none ever feared that the Truth would be heard,
But those whom the Truth would indict."
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07-18-2017, 09:17 AM
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#7
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Full time employment: Posting here.
Join Date: Jun 2015
Location: Redmond
Posts: 891
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A very interesting poll...If not the home, what does make up the majority of net worth?
I am doing some reflection on what this means, it seems logical for those that downsize to have a smaller %, but we tend to keep up sizing and live in the heart of Microsoft country where values are crazy. (We spent >500k on a starter home for our kids)
For us its 25% home, 25% business, 20% rentals, 30% equities and bonds
I don't consider personal property, pensions, vehicles, or horses in my NW.
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07-18-2017, 09:19 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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Quote:
Originally Posted by poorcarver
Meaningless to me as I do not include my home value in my net worth.
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If this is the case, then why even respond?
I think it's a reflection of folks here...it's all about the Benjamins and many people (at least myself) here probably like crunching numbers. I do it incessantly. Is it really necessary? Yeah probably not, but then again, that is some of the reason I am FIREd, too.
Also, this number isn't for anything but an online poll that amounts to nothing more than a hill of beans. It took me about 20 seconds to come up with a number...and it doesn't change anything in the grand scheme of things.
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
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07-18-2017, 09:37 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,504
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Quote:
Originally Posted by Happyras
A very interesting poll...If not the home, what does make up the majority of net worth?
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Tax deferred accounts in our case... By a lot. Even the non-tax-preferred accounts exceed what I carry the house on the books for.
That's why location is so important when looking at these polls/threads. We clearly don't live in NYC, NorCal, or Seattle. (We have over 4000 square ft on 25 acres, 25 minutes commute to state capital.)
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OMY * 3 2ish Done 7.28.17
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07-18-2017, 10:21 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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I have a 1400 sq-ft house on a 7000 sq-ft lot. Yup, pretty small. But it doesn't cost much to heat or cool and it's a cozy nook for 2 people with no stairs. I've lived in this house for 28 years and no plans to move. During that time it's tripled in value but the property tax has gone up only 60%. Last year I installed solar to keep my utilities low.
It's one thing that makes for a nice stress free retirement -
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07-18-2017, 10:28 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Sep 2016
Location: Acworth
Posts: 1,214
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I put 25% or more, but I don't count the value of pension in my NW normally, so I didn't include that in the calculation. Otherwise it would have been quite a bit lower.
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07-18-2017, 10:32 AM
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#12
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Thinks s/he gets paid by the post
Join Date: Mar 2015
Location: philly
Posts: 1,219
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Quote:
Originally Posted by poorcarver
Meaningless to me as I do not include my home value in my net worth.
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this is me
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My darling girl, when are you going to realize that being "normal" is not necessarily a virtue? it sometimes rather denotes a lack of courage~Aunt Francis
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07-18-2017, 10:50 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,866
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Interesting poll. I like it. I remember a time when I was "house rich, cash poor" (right after buying my first home). This (at 4% of NW) feels more comfy.
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"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11
ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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07-18-2017, 11:02 AM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,148
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Quote:
Originally Posted by poorcarver
Meaningless to me as I do not include my home value in my net worth.
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And neither does this poll.........
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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07-18-2017, 11:40 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Texas
Posts: 3,024
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I answered 20%. Our home is 4,500 sq ft on 2.2 acres with a pool and pond. We're in a reasonably LCOL area in Texas, although very much a seller's market at the moment. We plan to downsize at some point, which will drop this to probably 10-12%.
Quote:
Originally Posted by exnavynuke
I put 25% or more, but I don't count the value of pension in my NW normally, so I didn't include that in the calculation. Otherwise it would have been quite a bit lower.
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+1
My numbers above were all based on NW excluding the NPV of our 2 pensions. Had we both taken the lump sum option, our number would be 14% now and 8% after downsizing. Lots of issues trying to measure and compare stuff like this, but it's still interesting to see the results, which right now are spread out fairly equally.
__________________
Retired at 52 in July 2013. On to better things...
AA: 85/15 WR: 2.7% SI: 2 pensions, SS later
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07-18-2017, 11:41 AM
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#16
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,140
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I live in coastal SoCal... nuff said.
Doesn't matter... I like where I live. My house is paid off and moderately sized (2k sf). It doesn't cost much to stay here since Prop 13 keeps the taxes low.
I could sell and buy something cheaper elsewhere... but I have enough nest egg I don't need to. And, like I said... I like where I live. I like being a 15 minute drive to the beach (where I walk the dog, daily). I like being coastal with the moderating breezes/temps. I like my neighbors.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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07-18-2017, 11:42 AM
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#17
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,140
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I live in coastal SoCal... nuff said.
Doesn't matter... I like where I live. My house is paid off and moderately sized (2k sf). It doesn't cost much to stay here since Prop 13 keeps the taxes low.
I could sell and buy something cheaper elsewhere... but I have enough nest egg I don't need to. And, like I said... I like where I live. I like being a 15 minute drive to the beach (where I walk the dog, daily). I like being coastal with the moderating breezes/temps. I like my neighbors.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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07-18-2017, 11:55 AM
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#18
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,504
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Quote:
Originally Posted by rodi
I live in coastal SoCal... nuff said.
Doesn't matter... I like where I live. My house is paid off and moderately sized (2k sf). It doesn't cost much to stay here since Prop 13 keeps the taxes low.
I could sell and buy something cheaper elsewhere... but I have enough nest egg I don't need to. And, like I said... I like where I live. I like being a 15 minute drive to the beach (where I walk the dog, daily). I like being coastal with the moderating breezes/temps. I like my neighbors.
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+1. These are important points--and sometimes get overlooked when people stress how much capital one could theoretically free up by departing for LCOL area. (Us, we made a considered decision to stay in flyover land, save, and vacation to warm water coral reefs; others made the opposite decision. Neither way is objectively correct, IMHO.)
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OMY * 3 2ish Done 7.28.17
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07-18-2017, 01:37 PM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by Happyras
A very interesting poll...If not the home, what does make up the majority of net worth?...
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Well, many people have stocks, bonds, cash that are worth a lot more than their home(s). And not everybody lives in coastal areas where homes are expensive.
Homes in California are so expensive, it makes me cringe when seeing small old homes going for $500K-600K.
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07-18-2017, 02:09 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Jun 2017
Location: Western NC
Posts: 4,600
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Quote:
Originally Posted by NW-Bound
Well, many people have stocks, bonds, cash that are worth a lot more than their home(s). And not everybody lives in coastal areas where homes are expensive.
Homes in California are so expensive, it makes me cringe when seeing small old homes going for $500K-600K.
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My old college roommate moved out to the San Jose area 15 years ago & bought a 3/2 SFR for around $500,000 then.
Zillow pegs it at $1,500,000 today, and comps look close to that number.
Because of the above, his company is having trouble attracting workers, and may move out of state. If so, I think my buddy will be able to finance his ER on the home sale alone...
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