What's your net worth?

[Gumby]

More than I ever thought possible. Not enough to be indifferent.

 

[ls99]

Sufficient.

 

[NW-Bound]

I guess that's why I hang around here. In fact, this is the only forum I frequent.

Quite a bit different than the average Joe as talked about in another thread who cannot save up $400 cash for emergency despite having income of $100K.

 

[Danmar]

Surprising that the net worth poll isn't a lot higher than the investment portfolio poll? I guess it would have been more comparable if the dollar brackets were the same.

 

[Totoro]

The major difference would likely be the house to most I guess.

And I'd assume most folks here aren't house poor. Probably even still have a mortgage.

Or rent. Like I do.

 

[scrabbler1]

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 don't know about the first million, but tone that down to the "first $100k" and that surely describes me. It took me 10 years to get to $100k but only 2 more years to get to $200k, $300k, $400k, and $500k. Then, thanks to the fast growth in my company stock, it took only 1 year to get to $600k, $700k, $800k, and $900k (and I was working PT in those years). Even in ER, with no more wage income, I am still gaining although that gain has stalled recently. Still, simply having money means I will make money, as you pointed out.

 

[rodi]

Surprising that the net worth poll isn't a lot higher than the investment portfolio poll? I guess it would have been more comparable if the dollar brackets were the same.

The first one had several things not included: Real Estate, Inheritance, etc.

Look at some of the landlords on this forum (Senator, Calmloki, etc) - a significant part of their wealth is in real estate. And as a San Diegan - my primary residence is a big chunk of my net worth....

Inheritance... I would imagine that several of us have inherited 100K or more.

 

[2017ish]

I don't know about the first million, but tone that down to the "first $100k" and that surely describes me. ....

This was our experience as well. Getting out of the student loan debt (not high by today's standards, but 60K was a lot of money to us in mid 80s!) and just figuring out how to get the snowball started ...

 

[Danmar]

The first one had several things not included: Real Estate, Inheritance, etc.

Look at some of the landlords on this forum (Senator, Calmloki, etc) - a significant part of their wealth is in real estate. And as a San Diegan - my primary residence is a big chunk of my net worth....

Inheritance... I would imagine that several of us have inherited 100K or more.

Agree, that's why the net worth numbers should have been a fair bit bigger than the "stash" numbers? Doesn't seem to be?

 

[Amethyst]

I suspect they just don't look big to you.

Look pretty big to me...considering pensions and annuities aren't included.

No way to know for sure, but most forum members seem to be 65 or younger, so inheritances may be a few years away.

Agree, that's why the net worth numbers should have been a fair bit bigger. Doesn't seem to be?

 

[Danmar]

I suspect they just don't look big to you.

Look pretty big to me...considering pensions and annuities aren't included.

No way to know for sure, but most forum members seem to be 65 or younger, so inheritances may be a few years away.

I was comparing the two polls, not opining on the size of either. Edited my post to make this clearer.

 

[Amethyst]

Gotcha. Wasn't being critical.

I was comparing the two polls, not opining on the size of either. Edited my post to make this clearer.

 

[kcowan]

I want to know what, if anything, these polls are used for. It seems to be useless to me.

Perhaps the pollsters are looking for a quick answer? There ARE no quick answers.

 

[ls99]

I want to know what, if anything, these polls are used for. It seems to be useless to me.

Perhaps the pollsters are looking for a quick answer? There ARE no quick answers.

This is how the high rollers are found and put on the save children solicitations

 

[papadad111]

Just a "make me feel good / bad" use... not including the present value of future pensions makes the poll little more than anecdotal. Same with not including age.

Plus there's the whole "stealth wealth" factor.

What Fair Isaac should do is come up with a "financial net worth" number sorta like a FICO credit score that we can all wear like a bumper sticker or T-Shirt to define our "worth" to the rest of society.

PS...Think of the mega trend it will create - kinda like of all those health nuts claiming to have actually run a marathon... you've seen them I'm sure... 13.1 and 26.2 stickers on their car.

 

[Cobra9777]

Should I include the self-assigned value of my personal brand?

 

[Amethyst]

Then there is a sticker, "You ran a marathon? That's cute." At first I assumed it was someone making fun of run-bragging, and then I learned that no, it was probably someone who does 50- or 100- mile races. Bragging taken to a whole new level of competition.

J kinda like of all those health nuts claiming to have actually run a marathon... you've seen them I'm sure... 13.1 and 26.2 stickers on their car.

 

[NW-Bound]

It's human nature wanting to know how we do compared to our peers. In school, weren't our works graded on a curve? In work, we got promotions or raises if our results exceeded the norm.

So, it is natural for an ER to wonder if his/her LBYM effort has led to a savings comparable to that of peers. The problem of course is that people here have all different lifestyles and circumstances, so we do not really know who our peers are.

That said, I feel quite comfortable looking at the poll results, to see where I stand. However, a better comparison can be made with my past coworkers. We made comparable salary, but I have been able to retire early and many of them are still toiling. Several are poor savers, or made poor investment decision to buy high/sell low. We do not share networth info, but I think I am doing much better.

 

[aida2003]

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 -

Where's this poll?

 

[RobbieB]

I thought I'd wait awhile as it seemed that people were getting "poll adverse"

 

[gayl]

550k in liquid assets which is all that matters IMHO as I'd have to replace house if sold and replacement = current value

Pension (2300m net after taxes / health insurance) also not included as it cannot be sold

 

[RobbieB]

OK, I'll get on it.

I'm thinking about how to "balance" this out to give everyone a fair shot.

 

[gayl]

No biggee, Robbie. My pension (2300m) easily covers everything including a solo trip each year. It's the 8-9 person annual family cruise that needs me to use some of my dividends. Will easily be covered under standard monthly income once I tap SSA

Guess I live cheap (due to no mortgage & Prop 13)

 

[2035]

I just hit 250k yesterday. I'm a quarter millionaire.


Sent from my iPhone using Early Retirement Forum

 

[cyber888]

Networth is 999,999.99. Let's see what the stock market does on Monday, will I be in the $500,000 - $1,000,000 crowd, or the $1,000,000 - $2,500,000 crowd ? I will get back to you before the poll closes