After many years of living below my means, I may have passed over the millionaire hurdle. Kudos to me- LOL. Money is funny, it's here one day and gone the next.
If I include both the value of the mortgage on my home plus the estimated value of my home, I then surpass $1,000,000.
If I only include the value of the mortgage in the net worth equation, I have not reached the $1,000,000 mark.
Some people say the house is an asset with value and it should be included. Others say that they do not consider the value of their home in their net worth because regardless of how (rent/own) they need a place to live.
I'm not sure why, but psychologically for me, reaching the millionaire mark seems significant, although I recognize that $1,000,000 today is not what it was yesterday.
I still need to save and invest for FIRE, so I don't want to lull myself into complacency.
What do you think?
If I include both the value of the mortgage on my home plus the estimated value of my home, I then surpass $1,000,000.
If I only include the value of the mortgage in the net worth equation, I have not reached the $1,000,000 mark.
Some people say the house is an asset with value and it should be included. Others say that they do not consider the value of their home in their net worth because regardless of how (rent/own) they need a place to live.
I'm not sure why, but psychologically for me, reaching the millionaire mark seems significant, although I recognize that $1,000,000 today is not what it was yesterday.
I still need to save and invest for FIRE, so I don't want to lull myself into complacency.
What do you think?