How Old are You and What is Your Net Worth?

[cschin4]

red - That is much more than I had at 25. Good job!

[cschin4]

It's important to define Assets since not everyone have the same view of the inclusion of assets. But I know what you mean.

Yes, good point. But, I just find it easier not include all that stuff. I have nothing of any real value in my home. Mostly stuff that is tomorrow's yard sale!

[Caoineag]

My networth will be $0 sometime in February or March and I am 27. At the current moment its -$7k. Obviously I have cash and retirement funds but I have also been paying debt off including a student loan, hence my goal is positive networth at the moment. I am pretty sure though that if you give us a couple of years we will be doing a lot better. We had quite a bit to pay off. At one point a couple of years ago, we were a -$60k.

[tripods68]

Why do threads like this need to be started? Is it for people to brag about what they own? I dont get it?

This thread is about what information you want to share. We all contribute something to this board that allows ideas to flow good or bad sometimes with dear passions.

[tripods68]

Yes, good point. But, I just find it easier not include all that stuff. I have nothing of any real value in my home. Mostly stuff that is tomorrow's yard sale!

Bingo! Garbage to others treasure to some:

[cschin4]

That is exactly why I don't discuss my finances with friends or relatives. If you make more than them or have more, it would be viewed as "bragging". So, it really becomes a "no-win conversation" so our finances are only discussed between my spouse and I.

[cschin4]

Bingo! Garbage to others treasure to some.

Of course, however I hold no illusions as to what "my stuff" is actually worth. In reality, my household items are worth very little.

[JinCO]

32 yo

Assets:
401K - $170K
Home - $540K
Savings - $20K
Total = $730K

Liabilities:
Mortgage - $475K
Student Loans - $120K

Net Worth = $135K

[feh]

My wife and I are 42; our net worth is $1.1M. That total includes our house, which is paid off. It's worth $350K, if you didn't want to include that in the total.

[glock35ipsc]

Age - 38.

Net worth - Slightly less than I had last week.

[kork13]

If you could tell me more about how much you make and how did you get to this position, that would help me and others.

seeing this, I figured I'd add on to what I said above... Biggest reason I'm in the position I'm in right now is that I was lucky enough to get a full scholarship through college, so I have no (monetary) debt from my education. My college debt comes in the form of time--I sold my soul to the military for a few years . But then, I plan to make it a career, so I'm perfectly happy with that. Before the military, I never really had another job (my parents fought against me getting one in high school, wanting me to focus on school.... any other parents that way?)

Total net income is ~$3700/mo ($44,400/yr) before taxes, which includes my pay plus allowances for food and housing (which aren't taxed).

What has helped me alot is that my expenses, relative to my income, are very low, and will continue to be for the foreseeable future. That has allowed me to hide the fact that I'm an obsessive saver (I mean, what else could I do with an extra $1k? Save it!). Really, that's probably at the root of it all--I can't help but save.... It was ingrained into me by my parents, and now I'm living it...

I'm just linking my original post here... Long story short, net worth currently about $10k. See above for more...

[FoolFromAZ]

seeing this, I figured I'd add on to what I said above... Biggest reason I'm in the position I'm in right now is that I was lucky enough to get a full scholarship through college, so I have no (monetary) debt from my education. My college debt comes in the form of time--I sold my soul to the military for a few years . But then, I plan to make it a career, so I'm perfectly happy with that. Before the military, I never really had another job (my parents fought against me getting one in high school, wanting me to focus on school.... any other parents that way?)

Total net income is ~$3700/mo ($44,400/yr) before taxes, which includes my pay plus allowances for food and housing (which aren't taxed).

What has helped me alot is that my expenses, relative to my income, are very low, and will continue to be for the foreseeable future. That has allowed me to hide the fact that I'm an obsessive saver (I mean, what else could I do with an extra $1k? Save it!). Really, that's probably at the root of it all--I can't help but save.... It was ingrained into me by my parents, and now I'm living it...

your net worth?

[tripods68]

We started late (early 30s) when we started thinking about retirement/debt. Before, we never been in the position to save as much as we should based on jobs, marital status, family commitments, place of living. The key thing is to find your "niche" and the "groove" to do it over and over again consistently while saving more than spending. We try to be smart when we shop or use the "practical" approach (want vs need). At the same time, while keeping in mind what we need to save up enough for us to retire comfortably and preparing our kids to go to private school.

[Ima saver]

Well my age is over 60. My net worth was 1.631K when I did it a month ago, it is probably lower now. I have never earned more than $8000 in a single year, but I have always saved at least 10% of everything we ever made and put it away for permanent savings. Of course, I have savings accounts for other things like new cars, etc.
I saved when I was first married for a down payment on a new home and was a home ower at age 21 and had it paid for by age 32. Since then, I have never had a mortgage payment.

[tripods68]

Ima Saver,

You are great "model" that everyone should look up to