Net worth calc

I always wonder with these types of calculators whether couples enter their combined net worth, or something else. It would seem that a couple is more likely to have greater wealth if both individuals were high earners, but the wealth would be shared across two people. So an individual worth $1M is more than a couple worth $1M. It's never clear how this is distinguished in these statistics.
 
Ready said:
I always wonder with these types of calculators whether couples enter their combined net worth, or something else. It would seem that a couple is more likely to have greater wealth if both individuals were high earners, but the wealth would be shared across two people. So an individual worth $1M is more than a couple worth $1M. It's never clear how this is distinguished in these statistics.
Click to expand...

The particular one linked states its results as percentile of "household" wealth. (I always include DW when thinking about net worth or net investable assets--too many years as a stay at home dad makes it embarrassing to be on my own!)

E.T.A.: djr59--the people active on this site, rural or not, definitely are not typical. :) That calculator gives 50th percentile of 55-59 year olds as starting at 153,000--not many early retirees cutting out at that level, unless a very safe pension.
 
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I would never enter my NW on a website I've never heard of before
 
I've always liked the (equivalent) NW calculation that includes a NPV for one's guaranteed income streams + all other assets.

It seems to be a better predictor of retirement income (and all things deriving therefrom) than just the value of one's portfolio.
 
Al18 said:
I would never enter my NW on a website I've never heard of before
Click to expand...
Maybe put in 12 different values...only you know which answer to read.
 
This may blow some peoples' minds, but I feel like my net worth is enough.

I think that puts me at the top 1% of something, though I'm not sure what. Maybe the personal satisfaction continuum, if there is such a thing? :)

Anyway, I guess the point is that although I am far from the wealthiest retiree here, or the poorest for that matter, I don't much care how my net worth compares with others. What I care about more is being at peace with my own situation and my place in the universe, something I think takes a lot of introspection to find in our society given the consumerist, shallow values that are so apparent here. Sometimes the ability to sleep at night is evidence of one's contentment, sometimes not, but in my case I sleep like a baby.

6978-albums71-picture641.gif
<<<~~~~~ (top 1%, sleep-at-night factor)
 
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CRLLS said:
I guess you'd have to enter your 2013 age and net worth to be fair, since it us based on 2013 data.
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All the net worth statistics and graphs I've seen are based on 2013 data. I guess they don't do these studies very often.
 
The very last thing that we worry about is how our net worth measures up against everyone else in our age group.

The second thing that we worry about, after our health/happiness, is whether we have sufficient net worth to see us through retirement.
 
brett said:
The very last thing that we worry about is how our net worth measures up against everyone else in our age group.
...
Click to expand...

But it is important to my psyche to know that mine is bigger than his! :hide: :facepalm:
 
I try not to worry about anything, it interferes with having fun.
 
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Car-Guy said:
Maybe I run with a different crowd. Some of the richest people I know (certainly in dollars and IMO, quality of life too) live in rural areas. Several of them would make the 95% number just in land holdings.
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Same where I grew up.

You'd think it'd be hard to spend a 'section' of land but, not so much when the kids can borrow against it or the royalties disappear or, whatever. Happens way too often.
 
Huston55 said:
I've always liked the (equivalent) NW calculation that includes a NPV for one's guaranteed income streams + all other assets.

It seems to be a better predictor of retirement income (and all things deriving therefrom) than just the value of one's portfolio.
Click to expand...

I've never seen this type of net worth calculator. But yes, I don't mind being in the low 80s net worth percentile knowing I have my income stream.
 
sengsational said:
Maybe put in 12 different values...only you know which answer to read.
Click to expand...
Good idea!

I just used the default of 100,000. The curve they give you will do the rest as one's cursor can pick up one's personal net worth and the screen displays this data point's percentile rank.
 
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Car-Guy said:
Maybe I run with a different crowd. Some of the richest people I know (certainly in dollars and IMO, quality of life too) live in rural areas. Several of them would make the 95% number just in land holdings.
Click to expand...

Agreed. As a percentage of population, there is a high concentration of people in urban areas that bring down the average. Also, don't forget about the increased spending power of having 95% plus net worth has in a rural setting as opposed to an urban setting such as Long Island.
 
I think the average gets dragged down by people who live in more rural areas.
Click to expand...

In most rural areas you get more purchasing power for your money. It is not just about how much you have. It is also about how far it will go.
 
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Cost of living is relatively high (relative to other rural areas) for my rural area - small population, excessive heating degree days. But the benefits outweigh the costs for me - safe, beautiful, low population, community-centered. I live in a modest home but it's larger and nicer than most. Stores are few and far between so I'm not tempted to shop more than I need to. I feel very rich, richer than I am.
 
Huston55 said:
I've always liked the (equivalent) NW calculation that includes a NPV for one's guaranteed income streams + all other assets.

It seems to be a better predictor of retirement income (and all things deriving therefrom) than just the value of one's portfolio.
Click to expand...

+1
 
So I just use what was in my retirement accounts (excluding pension). didn't add in value of house. 90% by age.
 
W2R said:
This may blow some peoples' minds, but I feel like my net worth is enough.

I think that puts me at the top 1% of something, though I'm not sure what. Maybe the personal satisfaction continuum, if there is such a thing? :)

Anyway, I guess the point is that although I am far from the wealthiest retiree here, or the poorest for that matter, I don't much care how my net worth compares with others. What I care about more is being at peace with my own situation and my place in the universe, something I think takes a lot of introspection to find in our society given the consumerist, shallow values that are so apparent here. Sometimes the ability to sleep at night is evidence of one's contentment, sometimes not, but in my case I sleep like a baby.

6978-albums71-picture641.gif
<<<~~~~~ (top 1%, sleep-at-night factor)
Click to expand...

+1 nicely said
 
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