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View Poll Results: What's your net worth?
100,000 to 250,000 7 2.60%
250,000 to 500,000 7 2.60%
500,000 to 1,000,000 25 9.29%
1,000,000 to 2,500,000 103 38.29%
2,500,000 to 5,000,000 87 32.34%
5,000,000 to 10,000,000 31 11.52%
Over 10 million 9 3.35%
Voters: 269. You may not vote on this poll

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Old 05-09-2016, 06:10 PM   #21
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Originally Posted by Dreaming of Freedom View Post
Is there a way to see the poll on the mobile app?

I had this question too. Do not see any polls from iPhone app.
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Old 05-09-2016, 06:53 PM   #22
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Originally Posted by RobbieB View Post
I figured there were more than a few millionaires here. That's always been the magic number eh? A million. Real cause for celebration then, you can see the end a lot more clearly.

I was always dumb struck by the old saying "the first million is the hardest, the rest come easier", I was like OK, but I can't even relate to that. Now I see the truth. Takes money to make money. After I got the house paid off I really started stacking dough as it all went to investments.
I said that once and my boss said the first 0K was the hardest and he was correct. If you don't have more debt than assets you are ahead of 50% of the people already then living below your means and investing even 2-3K a year you beat another 25%. Most people are over 25 before they have invested 10K but then you are on your way. Also you have the mindset of living below your means and investing and if you have a house equity is building. Took me 10 year to get to 10K almost and another 5 to get to 100K then another 10 to 400K then about 5 to get to a million the first 10K or 100K is very hard. I was low income.
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Old 05-09-2016, 07:02 PM   #23
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Including the house definitely kicks it up a notch for me. Too bad you can't spend a house (and still live in it.)
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Old 05-09-2016, 07:09 PM   #24
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Including the house definitely kicks it up a notch for me. Too bad you can't spend a house (and still live in it.)
A reverse mortgage could be your friend !!
https://en.wikipedia.org/wiki/Reverse_mortgage

Be the spendthrift you always wanted to be !!
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Old 05-09-2016, 07:13 PM   #25
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I said that once and my boss said the first 0K was the hardest and he was correct. If you don't have more debt than assets you are ahead of 50% of the people already then living below your means and investing even 2-3K a year you beat another 25%. Most people are over 25 before they have invested 10K but then you are on your way. Also you have the mindset of living below your means and investing and if you have a house equity is building. Took me 10 year to get to 10K almost and another 5 to get to 100K then another 10 to 400K then about 5 to get to a million the first 10K or 100K is very hard. I was low income.
Sounds like me -

I drove out to CA from Detroit when I was 23 back in 1979. My net worth was the old car I owned (worth 2 grand), $2500 in cash and some hand me down furniture from my parents. Now I look back and smile. It's been a good adventure -
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Old 05-09-2016, 07:23 PM   #26
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More than I ever thought possible. Not enough to be indifferent.
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Old 05-09-2016, 07:28 PM   #27
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Sufficient.
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Old 05-09-2016, 08:13 PM   #28
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I guess that's why I hang around here. In fact, this is the only forum I frequent.

Quite a bit different than the average Joe as talked about in another thread who cannot save up $400 cash for emergency despite having income of $100K.
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Old 05-10-2016, 07:07 AM   #29
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Surprising that the net worth poll isn't a lot higher than the investment portfolio poll? I guess it would have been more comparable if the dollar brackets were the same.
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Old 05-10-2016, 07:33 AM   #30
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The major difference would likely be the house to most I guess.

And I'd assume most folks here aren't house poor. Probably even still have a mortgage.

Or rent. Like I do.
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Old 05-10-2016, 07:53 AM   #31
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I was always dumb struck by the old saying "the first million is the hardest, the rest come easier", I was like OK, but I can't even relate to that. Now I see the truth. Takes money to make money. After I got the house paid off I really started stacking dough as it all went to investments.
I don't know about the first million, but tone that down to the "first $100k" and that surely describes me. It took me 10 years to get to $100k but only 2 more years to get to $200k, $300k, $400k, and $500k. Then, thanks to the fast growth in my company stock, it took only 1 year to get to $600k, $700k, $800k, and $900k (and I was working PT in those years). Even in ER, with no more wage income, I am still gaining although that gain has stalled recently. Still, simply having money means I will make money, as you pointed out.
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Old 05-10-2016, 08:01 AM   #32
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Surprising that the net worth poll isn't a lot higher than the investment portfolio poll? I guess it would have been more comparable if the dollar brackets were the same.
The first one had several things not included: Real Estate, Inheritance, etc.

Look at some of the landlords on this forum (Senator, Calmloki, etc) - a significant part of their wealth is in real estate. And as a San Diegan - my primary residence is a big chunk of my net worth....

Inheritance... I would imagine that several of us have inherited 100K or more.
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Old 05-10-2016, 08:17 AM   #33
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I don't know about the first million, but tone that down to the "first $100k" and that surely describes me. ....
This was our experience as well. Getting out of the student loan debt (not high by today's standards, but 60K was a lot of money to us in mid 80s!) and just figuring out how to get the snowball started ...
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Old 05-10-2016, 08:22 AM   #34
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The first one had several things not included: Real Estate, Inheritance, etc.

Look at some of the landlords on this forum (Senator, Calmloki, etc) - a significant part of their wealth is in real estate. And as a San Diegan - my primary residence is a big chunk of my net worth....

Inheritance... I would imagine that several of us have inherited 100K or more.
Agree, that's why the net worth numbers should have been a fair bit bigger than the "stash" numbers? Doesn't seem to be?
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Old 05-10-2016, 08:50 AM   #35
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I suspect they just don't look big to you.

Look pretty big to me...considering pensions and annuities aren't included.

No way to know for sure, but most forum members seem to be 65 or younger, so inheritances may be a few years away.

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Agree, that's why the net worth numbers should have been a fair bit bigger. Doesn't seem to be?
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Old 05-10-2016, 08:52 AM   #36
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I suspect they just don't look big to you.

Look pretty big to me...considering pensions and annuities aren't included.

No way to know for sure, but most forum members seem to be 65 or younger, so inheritances may be a few years away.
I was comparing the two polls, not opining on the size of either. Edited my post to make this clearer.
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Old 05-10-2016, 09:20 AM   #37
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Gotcha. Wasn't being critical.

Quote:
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I was comparing the two polls, not opining on the size of either. Edited my post to make this clearer.
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Old 05-10-2016, 03:18 PM   #38
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I want to know what, if anything, these polls are used for. It seems to be useless to me.

Perhaps the pollsters are looking for a quick answer? There ARE no quick answers.
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Old 05-10-2016, 03:25 PM   #39
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I want to know what, if anything, these polls are used for. It seems to be useless to me.

Perhaps the pollsters are looking for a quick answer? There ARE no quick answers.
This is how the high rollers are found and put on the save children solicitations
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Old 05-10-2016, 03:35 PM   #40
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Just a "make me feel good / bad" use... not including the present value of future pensions makes the poll little more than anecdotal. Same with not including age.

Plus there's the whole "stealth wealth" factor.

What Fair Isaac should do is come up with a "financial net worth" number sorta like a FICO credit score that we can all wear like a bumper sticker or T-Shirt to define our "worth" to the rest of society.

PS...Think of the mega trend it will create - kinda like of all those health nuts claiming to have actually run a marathon... you've seen them I'm sure... 13.1 and 26.2 stickers on their car.
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