New Improved 2005 ER Forum Current Net Worth Survey

Estimate Your Current Net Worth

  • Negative

    Votes: 1 0.6%

  • 0 - 25,000

    Votes: 0 0.0%

  • 25,000 - 50,000

    Votes: 2 1.1%

  • 50,000 - 100,000

    Votes: 2 1.1%

  • 100,000 - 200,000

    Votes: 7 3.9%

  • 200,000 - 300,000

    Votes: 3 1.7%

  • 300,000 - 400,000

    Votes: 9 5.0%

  • 400,000 - 500,000

    Votes: 10 5.6%

  • 500,000 - 600,000

    Votes: 7 3.9%

  • 600,000 - 700,000

    Votes: 10 5.6%

  • 700,000 - 800,000

    Votes: 15 8.3%

  • 800,000 - 900,000

    Votes: 6 3.3%

  • 900,000 - 1,000,000

    Votes: 8 4.4%

  • 1,000,000 - 1,250,000

    Votes: 13 7.2%

  • 1,250,000 - 1,500,000

    Votes: 20 11.1%

  • 1,500,000 - 1,750,000

    Votes: 10 5.6%

  • 1,750,000 - 2,000,000

    Votes: 9 5.0%

  • 2,000,000 - 2,250,000

    Votes: 9 5.0%

  • 2,250,000 - 2,500,000

    Votes: 6 3.3%

  • 2,500,000 - 2,750,000

    Votes: 6 3.3%

  • 2,750,000 - 3,000,000

    Votes: 5 2.8%

  • 3,000,000 - 3,250,000

    Votes: 2 1.1%

  • 3,250,000 - 3,500,000

    Votes: 2 1.1%

  • 3,500,000 - 3,750,000

    Votes: 0 0.0%

  • 3,750,000 - 4,000,000

    Votes: 1 0.6%

  • 4,000,000 - 4,250,000

    Votes: 6 3.3%

  • 4,250,000 - 4,500,000

    Votes: 2 1.1%

  • 4,500,000 - 4,750,000

    Votes: 0 0.0%

  • 4,750,000 - 5,000,000

    Votes: 3 1.7%

  • 5,000,000 - 6,000,000

    Votes: 4 2.2%

  • 6,000,000 - 7,000,000

    Votes: 0 0.0%

  • 7,000,000 - 8,000,000

    Votes: 0 0.0%

  • 8,000,000 - 9,000,000

    Votes: 2 1.1%

  • 9,000,000 - 10,000,000

    Votes: 0 0.0%
  • Total voters
    180
D

Danny

Thinks s/he gets paid by the post
Joined
Jul 14, 2005
Messages
2,375
It's Back.
The 2005 ER Forum Current Net Worth Survey
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

We've got someone in the $8-9MM range? :eek:
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

Jay_Gatsby said:
We've got someone in the $8-9MM range? :eek:
Click to expand...

Right and they are on dial up too !
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

DanTien said:
It's Back.
The 2005 ER Forum Current Net Worth Survey
Click to expand...

Geez Louise DT, how long did it take you to create this long a$$ list?
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

Do you include your principal residence in your net worth or not ?

Maybe a definition of net worth would be appropriate first.
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

Standard definition of net worth is the value of all assets less liabilities.

It is not just income producing assets. And future potential tax liabilites are not typically deducted either.
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

assets - liabilities = net worth, in my case
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

Jay_Gatsby said:
We've got someone in the $8-9MM range? :eek:
Click to expand...
As far as WE can tell, sure. Yeah, that's it.

We include our home equity in our net worth, but that seems pretty silly at today's prices...
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

Housing equity attributable to actual payments made against mortgage principal might be a more "fair" way of looking at things. Then again, the appreciation in real estate is really no different than the appreciation in stocks...except that you can't live in stocks (well maybe you can, but living in those kind of stocks raises a more kinky issue). :eek:
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

OK - More issues...

For a stream of income payments like a pension or your money sharking operation, Do you add in the net present value of those payments to your net worth ?


How do you account for medical benefit(s). Are they part of your net worth ?
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

MasterBlaster said:
OK - More issues...
For a stream of income payments like a pension or your money sharking operation, Do you add in the net present value of those payments to your net worth ?
How do you account for medical benefit(s). Are they part of your net worth ?
Click to expand...
Here we go again...

Do you suppose that MBA universities encounter these discussions in their finance classes?
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

Do you suppose that MBA universities encounter these discussions in their finance classes?
Click to expand...

Yes, the 2 folks that I know that have finance degrees argue excessively about home equity, but neither of them have a house, so I wonder.....
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

cube_rat said:
Geez Louise DT, how long did it take you to create this long a$$ list?
Click to expand...
:D Over the course of a bowl of cheerios and chatting with wife about how The Minneapolis Institute of Arts where she is a docent is getting ready to open the new Michael Graves designed wing and how much deep **** they are in because they have a looted vase from Italy, who are now putting a Getty honcho on trial in Rome for multiple instances of same...about 1 hour :eek: ::) :D
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

MasterBlaster said:
Maybe a definition of net worth would be appropriate first.
Click to expand...
:p
img_341349_0_b45ff97fc064faa3bd5531451ffdf204.jpg
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

Nords said:
Here we go again...

Do you suppose that MBA universities encounter these discussions in their finance classes?
Click to expand...


There wouldn't be much of an argument. Every first year MBA can offer you a calculation of the PV of a stream of cash flows. Easy-peasy.
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

Still, I think it is rare that net worth calculations include the present value of a pension. Instead, you need less net worth because you have a pension. :) But then again, the present value of an annuity is generally considered part of net worth. . .

This is my banker client talking.
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

WoW,  over 50% (so far) have $1M plus and 10% have $4M or more. 

The person with $8-9M better be retired and living on a tropical island or I am really going to lose my respect for that kind of money.   :D
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

WOO-HOO...IM THE LOWEST SO FAR ON THE TOTEM POLE...MAYBE THE YOUNGEST TOO...
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

thefed said:
WOO-HOO...IM THE LOWEST SO FAR ON THE TOTEM POLE...MAYBE THE YOUNGEST TOO...
Click to expand...

Thank you for making me not be the poorest person on this board. :) Or youngest...
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

MasterBlaster said:
For a stream of income payments like a pension or your money sharking operation, Do you add in the net present value of those payments to your net worth ?

How do you account for medical benefit(s). Are they part of your net worth ?
Click to expand...

Streams of income, even at net present value are not part of your net worth.  Neither are medical benefits.

Net worth = Assets - Liabilities

Streams of income and benefits are not assets.
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

Just to add to the discussion, even though net worth is the difference between assets and liabilities, that may not be the net worth definition that applies to what you need for FI.

Instead, your net worth definition may be: 

Useable Net Worth = Assets that will provide a stream of income - Liabilities

Your house and the pencil on your desk are both assets, but neither may provide a stream of income in the future to you unless you sell or rent the pencil or house.
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

retire@40 said:
Just to add to the discussion, even though net worth is the difference between assets and liabilities, that may not be the net worth definition that applies to what you need for FI.

Instead, your net worth definition may be: 

Useable Net Worth = Assets that will provide a stream of income - Liabilities

Your house and the pencil on your desk are both assets, but neither may provide a stream of income in the future to you unless you sell or rent the pencil or house.
Click to expand...

Agreed, but you could say the same thing about your stock portfolio. In that case, only the dividend paying stocks would count. Likewise, in the case of real estate, only property that you're renting would count.

FI shouldn't be so restrictive. The whole point of FI is that you have the assets to give the world the finger if you choose. Your definition applies to the RE part of the equation.
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

frayne said:
Right and they are on dial up too !
Click to expand...

How can you tell when someone is on dial-up?
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

... house is "in"; pension (and SS) is out ... would be another .5M if "in" (using Bogle's formula of 14 X annual payment).

Sounds like Bogle's formula figures you'll only collect for 14 years (on average).  This makes sense to me.

BTW,  a graph (line/bar) would be nice when the dust settles)
 
Re: The New Improved 2005 ER Forum Current Net Worth Survey

tryan said:
.
BTW, a graph (line/bar) would be nice when the dust settles)
Click to expand...
Turn your monitor on its left side to get the bar chart.
 
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