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Net worth calc
Old 12-21-2016, 02:03 PM   #1
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Net worth calc

https://dqydj.com/net-worth-by-age-c...united-states/

According to this website I am in the 96% percentile compared to others. I am not sure how accurate this is. I read about a lot of wealthy retired people here. So I bet most fall pretty high on the scale. I think the average gets dragged down by people who live in more rural areas.
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Old 12-21-2016, 02:09 PM   #2
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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.
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Old 12-21-2016, 02:21 PM   #3
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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.
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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Old 12-21-2016, 02:30 PM   #4
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Well if I divide and make like I am single I am 93% percentile. So not bad.
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Old 12-21-2016, 03:36 PM   #5
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Originally Posted by djr59 View Post
https://dqydj.com/net-worth-by-age-c...united-states/

According to this website I am in the 96% percentile compared to others MY AGE. I am not sure how accurate this is. I read about a lot of wealthy retired people here. So I bet most fall pretty high on the scale. I think the average gets dragged down by people who live in more rural areas.
I fixed it for you. The calculation is done by age group which changes things a bit.
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Old 12-21-2016, 06:09 PM   #6
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I would never enter my NW on a website I've never heard of before
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Old 12-21-2016, 06:17 PM   #7
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I would never enter my NW on a website I've never heard of before
...because?
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Old 12-21-2016, 06:21 PM   #8
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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.
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Old 12-21-2016, 06:34 PM   #9
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I would never enter my NW on a website I've never heard of before
Maybe put in 12 different values...only you know which answer to read.
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Old 12-21-2016, 06:44 PM   #10
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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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Old 12-21-2016, 07:01 PM   #11
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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.

<<<~~~~~ (top 1%, sleep-at-night factor)
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Old 12-21-2016, 07:13 PM   #12
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I guess you'd have to enter your 2013 age and net worth to be fair, since it us based on 2013 data.
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.
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Old 12-21-2016, 08:11 PM   #13
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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.
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Old 12-21-2016, 09:11 PM   #14
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The very last thing that we worry about is how our net worth measures up against everyone else in our age group.
...
But it is important to my psyche to know that mine is bigger than his!
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Old 12-21-2016, 09:53 PM   #15
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Old 12-24-2016, 10:39 AM   #16
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Originally Posted by djr59 View Post
https://dqydj.com/net-worth-by-age-c...united-states/

I think the average gets dragged down by people who live in more rural areas.
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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Old 12-24-2016, 10:49 AM   #17
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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.
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.
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Old 12-24-2016, 11:10 AM   #18
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Originally Posted by Huston55 View Post
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.
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.
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Old 12-24-2016, 11:32 AM   #19
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Maybe put in 12 different values...only you know which answer to read.
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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Old 12-24-2016, 08:50 PM   #20
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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.
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.
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