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honydonk,
If we assume your house was worth $500K when you bought it and is still worth $500K and you put down 25%, your net worth would look like this:
Assets
House -- $500K
Taxable savings -- $150K
Tax-deferred savings -- $70K
Total Assets --- $720K
Liabilities
Mortgage -- $375K
Total liabilities -- $375K
Net worth ---- $345K
which is actually a fabulous position to be in at your age.
2Cor521
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
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