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View Poll Results: Net worth--excluding pensions, etc--basically your future estate
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Under $1 million
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11 |
5.07% |
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$1 million - $10 million
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178 |
82.03% |
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$10 million - $25 million
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19 |
8.76% |
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$25 million - $50 million
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4 |
1.84% |
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$50 million - $100 million
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0 |
0% |
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over $100 million
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5 |
2.30% |
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05-22-2021, 09:10 AM
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#21
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,932
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One thing that sticks out to me with this poll (albeit it limited voting so far) is only one person has voted under a million, yet I read frequently about folks here with a NW well under a million. I'm sure there are good reasons why, just seems odd.
I also think NW polls like this are very misleading, especially if you don't count/consider things like pensions/SS, etc... Of course YOMV....
Example, let's say two people, the same age, each have a NW worth of 500k on the day before they retire. One person selects the lump sum retirement package of 1m and the other takes the annuity option estimated to be worth a million in normal payout.... The day after they retire the person that took the lump sum can now claim to have a NW of 1.5m and the person that took the annuity can still only claim he has 500k... From my POV, they are both millionaires.
__________________
20's "something" mind, trapped in a 70's "something" body
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05-22-2021, 09:19 AM
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#22
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Thinks s/he gets paid by the post
Join Date: Dec 2017
Posts: 1,619
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I think it's an interesting poll. There are some people here who are quite well off.
You could do more granularity in the 1-10 million range but I am not sure what that would tell you since pensions and social security matter.
Has there been a poll about what withdrawal rate folks would need from their portfolio to cover basic expenses? That seems to me to be a better measure of potential fatness. Some retired military folks have posted who have saved a lot but spending is entirely covered by pensions.
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05-22-2021, 09:20 AM
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#23
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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 Quote:
Originally Posted by Car-Guy
One thing that sticks out to me with this poll (albeit it limited voting so far) is only one person has voted under a million, yet I read frequently about folks here with a NW well under a million. I'm sure there are good reasons why, just seems odd.
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Not odd at all, considering the OP has posted twice that they have little interest in hearing from "the poor folks" on the forum with less than $10M 
__________________
Numbers is hard
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05-22-2021, 09:22 AM
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#24
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Reading, MA
Posts: 1,798
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A net worth poll is fine, but when we're talking Fat FIRE, I think it's more about income in retirement for many of us.
An income of $200,000 per year from pensions, annuities, SS and tax-deferred withdrawals (RMDs or similar) equates to a few million in assets, for instance...
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05-22-2021, 10:44 AM
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#25
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Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,593
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Quote:
Originally Posted by firewhen
Net worth--excluding pensions, etc--basically your future estate
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Quote:
Originally Posted by firewhen
For simplicity, lets not worry about the value of pensions, but only the value of what your estate would be (investable assets, house, etc.).
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Based on the OP's wording of the poll and the initial post (which I bolded above), the poll question itself is confusing. Are we talking about our current net worth, or what we expect our "future estate" "would be"?
Quote:
Originally Posted by firewhen
I will include 2 lower rungs so everyone can participate, but I am most curious about the higher end and how far that goes.
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LOL... The two "lower rungs" cover roughly 99% of ALL households in the U.S. Only 9 people here on the forum have voted in the $10+ million categories, and I can only think of one or two active forum members who have posted about having $15+ million NWs in recent years.
Let's say the final numbers turn out to be 85% in the lower rungs, 12% in the middle rungs, and 3% in the stratospheric rungs ($50+ million). So what? Not sure what the OP is trying to elucidate with this poll.
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05-22-2021, 11:46 AM
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#26
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Recycles dryer sheets
Join Date: Jan 2021
Location: Northern California
Posts: 326
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There are now 3 over $100M -- if that is to be believed, or simply poll stuffing.
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05-22-2021, 11:46 AM
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#27
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,891
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Quote:
Originally Posted by firewhen
I put the lower options for completeness. But am really mostly interested in how many eight figure, or even nine figure, net worths there are here.
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And you will never know with a self-selected poll.
-ERD50
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05-22-2021, 11:55 AM
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#28
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Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,593
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Quote:
Originally Posted by oiseux
There are now 3 over $100M -- if that is to be believed, or simply poll stuffing.
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While it's certainly plausible, given that the average NW here at e-r.org is much higher than the population at large, I tend to doubt it. I don't recall ever having seen a post from someone indicating a NW of that magnitude. Perhaps these $100 millionaires are reluctant to discuss (or hint at) their massive nest eggs... but then, if so, why reply to a poll question about it?
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05-22-2021, 11:56 AM
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#29
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,972
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3 People with $100 Million networth .. get out of here .. Fat Fire now 
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
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05-22-2021, 12:03 PM
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#30
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Ventura County
Posts: 1,433
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I know a couple of very high net worth folks (won the Silicon Valley start up lottery). I'm pretty sure they would have zero interest in most of the discussions on ER.org.
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05-22-2021, 12:09 PM
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#31
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Thinks s/he gets paid by the post
Join Date: May 2007
Posts: 1,251
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How do I vote in the poll? When I do web view, doesn’t give me an option to vote.
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05-22-2021, 12:10 PM
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#32
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,972
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Quote:
Originally Posted by firewhen
Not sure if I have seen this, how high net worth gets at the upper reaches here. For anonymity purposes, vote without leaving a comment if you prefer. For simplicity, lets not worry about the value of pensions, but only the value of what your estate would be (investable assets, house, etc.). I will include 2 lower rungs so everyone can participate, but I am most curious about the higher end and how far that goes.
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Considering that 85% are 'lower rungs' .. that's the big majority of 'everyone' 
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
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05-22-2021, 12:17 PM
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#33
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2016
Posts: 9,521
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Quote:
Originally Posted by oiseux
There are now 3 over $100M -- if that is to be believed, or simply poll stuffing.
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We are amongst
the rich and famous. I would like to meet someone that rich!! Nice job to your success in life.
Maybe I need to get back to work. Lol
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05-22-2021, 12:17 PM
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#34
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Ventura County
Posts: 1,433
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Quote:
Originally Posted by Letj
How do I vote in the poll? When I do web view, doesn’t give me an option to vote.
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Log in if you haven't already done so. You may then need to refresh the first page of the thread in your browser to show the poll with your vote enabled.
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05-22-2021, 12:38 PM
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#35
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2015
Posts: 5,862
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Our net worth is less than our spending capabilities, due to our pensions.
There are many on this forum with far more in assets than we have, I find everyones contributions to this forum interesting and many great "pearls of wisdom" can be had, no matter how much money, or how little, you have.
One of the greatest has been imoldernu, may he Rest in Peace. A man who's wealth was in his wisdom and willingness to share his frugal living ideas.
__________________
Give a Man a fish, he will eat for a day.
Teach a Man to fish, he will eat for a lifetime.
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05-22-2021, 01:08 PM
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#36
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Thinks s/he gets paid by the post
Join Date: Oct 2020
Location: Sugar Land, Texas
Posts: 1,245
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Maybe there is someone famous here voting.
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05-22-2021, 01:16 PM
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#37
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,298
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Quote:
Originally Posted by Sojourner
While it's certainly plausible, given that the average NW here at e-r.org is much higher than the population at large, I tend to doubt it. I don't recall ever having seen a post from someone indicating a NW of that magnitude. Perhaps these $100 millionaires are reluctant to discuss (or hint at) their massive nest eggs... but then, if so, why reply to a poll question about it?
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+1 although I believe there was one poster in the last 6 months who had a NW somewhere around 25 million or was getting there.
__________________
TGIM
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05-22-2021, 01:28 PM
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#38
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Recycles dryer sheets
Join Date: Sep 2006
Location: clearwater
Posts: 439
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Quote:
Originally Posted by pacergal
Our net worth is less than our spending capabilities, due to our pensions.
There are many on this forum with far more in assets than we have, I find everyones contributions to this forum interesting and many great "pearls of wisdom" can be had, no matter how much money, or how little, you have.
One of the greatest has been imoldernu, may he Rest in Peace. A man who's wealth was in his wisdom and willingness to share his frugal living ideas.
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what happened to imoldernu?
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05-22-2021, 01:38 PM
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#39
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,356
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Quote:
Originally Posted by rothlev
what happened to imoldernu?
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He passed away in 2019.
__________________
I thought growing old would take longer.
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05-22-2021, 01:38 PM
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#40
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2015
Posts: 5,862
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His son let us know he had passed away.
__________________
Give a Man a fish, he will eat for a day.
Teach a Man to fish, he will eat for a lifetime.
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