Your Current Net Worth - 2005

[treypar]

Re: Your Current Net Worth

I have a good net worth. I continue to work because I am concerned about healthcare costs, inflation, stock market returns and how long I will live. Maybe there is something else too that I have not thought of yet.

 

[Helen]

Re: Your Current Net Worth

Really, it does change your life. You will know that if you have problems at work, or illness, or whatever, you won't have to scramble around looking for loans. You will know that if you see a good opportunity in the job market, but it requires a bit of risk, you can still entertain the idea.

Ha

I agree, it's even affecting my dreams. I am now debt free and have a chunk of change in various accounts. I have a pretty secure job and with a 5% return along with continued savings should hit my magic number in seven years. I remember being in my 20's and living paycheck to paycheck, it was a very vulnerable feeling.

-helen

 

[SteveR]

Re: Your Current Net Worth

The more I look at this the more I want to alter the higher incrementals - I would have to reset the counts if I do this and we would have to revote - maybe our net worth has changed anyway? - is it worth doing? and what increments would we  like to see?   

Why not just start a whole new thread on this?

The ranges below $100k are OK.
The largest percent of votes fell in the $200k-$2m ranges.  Maybe do it in $100k increments up to $1m and then $1m increments up to $5m and then over $5m.  Unless you want to add some levels above that but there are not going to be but very few in that range. 

 

[haha]

Re: Your Current Net Worth

Why not just start a whole new thread on this?

The ranges below $100k are OK.
The largest percent of votes fell in the $200k-$2m ranges.  Maybe do it in $100k increments up to $1m and then $1m increments up to $5m and then over $5m. 

Practically speaking, there is a lot greater difference between $1M and $2M, than between $2M and $3M. There is even a big difference between $1.25 and $1.5,or $1.75. I think between $1 and $2 M, there should be quartile breaks. Then maybe $2, $2.5. $3. Whatever you choose beyond that will be fun for the rich guys, but basically less meaningful.

Ha

 

[dex]

Re: Your Current Net Worth

One way of thinking of this question is what is the final picture we want.
I think knowing the following would be interesting but, I don't know if a pole can break down the info this way.

Life status: working or retired

Marital status: single or married

Age:

Total Net worth: Total assets - total liabilities

 

[Danny]

Re: Your Current Net Worth

One way of thinking of this question is what is the final picture we want.
I think knowing the following would be interesting but, I don't know if a pole can break down the info this way.

Life status: working or retired

Marital status: single or married

Age:

Total Net worth: Total assets - total liabilities

That would be an interesting survey. I think its beyound me though.
I could see a Life Status-Marital Status- Age survey - but adding the Net Worth piece could push the options...?

Working - Single - Under 25
- 25 - 30
- 30 - 35
- 35 - 40
- 40 - 45
- 45 - 50
- 50 - 55
- 55 - 60
- 60 - 65
- 65 - 70
- 70 +
Working - Married - Under 25
- 25 - 30
- 30 - 35
- 35 - 40
- 40 - 45
- 45 - 50
- 50 - 55
- 55 - 60
- 60 - 65
- 65 - 70
- 70 +

Etc.

 

[Jay_Gatsby]

Re: Your Current Net Worth

I agree re: marital status. It's a great deal more difficult to amass $1,000,000+ when you're doing it on one income and don't have anyone with whom you can split expenses. Saving ~50% of one's gross income is easier when you're living off of another person's income. For example, I save 35-40% of my gross income, but if I was married we would save 60%.