What's your net worth?

[RobbieB]

Ok, this should be a bit easier. Include everything except personal property (clothes, furniture, electronics, appliances)

That's all investments, cash accounts, real estate equity, fair value of motor vehicles, cash value of insurance policies. Of course if you are paying off loans deduct loan balance.

I started low so the "young dreamers" can play too.

 

[2017ish]

Ok, this should be a bit easier. Include everything except personal property (clothes, furniture, electronics, appliances)

That's all investments, cash accounts, real estate equity, fair value of motor vehicles, cash value of insurance policies. Of course if you are paying off loans deduct loan balance.

I started low so the "young dreamers" can play too.

Including present discounted value of pensions/social?

 

[RobbieB]

Hehe, that's a good one. Can I do a reverse annuity on my SS and pension benes?

Nope, you might expire soon.

I'll run another one on income from all sources -

 

[2017ish]

I'm throwing this link in on this poll and the one that sparked it (recognizing that "need" likely should be read as "want/plan/desire"): http://www.early-retirement.org/forums/f28/poll-how-much-income-do-you-need-to-retire-74379.html

 

[Slow But Steady]

Is this the poll about hand size?

 

[MasterBlaster]

How come it only goes to 10 Million ?

 

[Slow But Steady]

How come it only goes to 10 Million ?

Because the folks with over $10 million don't answer surveys?

 

[Car-Guy]

your poll has an overlap

100,000 to 250,000
250,000 to 500,000
500,000 to 1,000,000
1,000,000 to 2,500,000
2,000,000 to 5,000,000
5,000,000 to 10,000,000
Over 10 million

 

[RobbieB]

Oouuups -

 

[marko]

your poll has an overlap

100,000 to 250,000
250,000 to 500,000
500,000 to 1,000,000
1,000,000 to 2,500,000
2,000,000 to 5,000,000
5,000,000 to 10,000,000
Over 10 million

This thing is getting off to a rough start....

 

[CaliforniaMan]

This poll assumes that having $1,000,000 at 30 the same as having $1,000,000 at 65?

 

[RobbieB]

It assumes nothing, it's just your net worth as of today.

Please forgive my overlap, perhaps a mod can fix it?

Just a little fun exercise. Maybe I'll do another for "retired people only"

 

[DrRoy]

Nearly all are over 7 figures. Not a surprise I guess with this group.

 

[W2R]

Please forgive my overlap, perhaps a mod can fix it?

OK, I think I fixed it the way you wanted it. If it isn't right, just let us know.

 

[mpeirce]

Single or couples?

I tend to only think of "our" money, but maybe I should have cut it in half...

 

[Amethyst]

I'm assuming this is per household, not per person.

 

[Dreaming of Freedom]

Is there a way to see the poll on the mobile app? Was this ever determined to be the net worth of one person or two (a couple)?

 

[RobbieB]

OK, I think I fixed it the way you wanted it. If it isn't right, just let us know.

That's right, you fixed it - thanks.

Yes per house hold is the plan.

 

[HFWR]

Idk, maybe ten bucks...

 

[RobbieB]

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.

 

[RetireAge50]

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.

 

[old woman]

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.

 

[rodi]

Including the house definitely kicks it up a notch for me. Too bad you can't spend a house (and still live in it.)

 

[Koogie]

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 !!

 

[RobbieB]

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 -