What is your net worth? I illustrated my net worth below

[feh]

Pretty sure our income wouldn't help, our expenses are way more consistent than our income. But for income, we have ranged from 30k to I suspect this year over 120k somewhere. We've averaged for most of our savings years at 60k which is probably more useful.

We've been saving for 20 years, and our income has a pretty wide range during that time - anywhere from 60K to 160K. And then you have to decide if you're just talking salary, or do you include capital gains, dividends, etc.

[MonkeyMama]

And then you have to decide if you're just talking salary, or do you include capital gains, dividends, etc.

For past 13 years our income was $20k-$100k. We take home far more on $80k today than we ever did on a $100k (2-income) salary (taxes taxes taxes). I had a nice work retirement benefit (10% employer contribution) for about 8 years, but for the most part we have never had any other work benefits. This also means 15% of my salary has gone to private health insurance for a long time (ever rising). We also have a lot of tax-free and non-traditional side hussles (like our credit card rewards). So I think this number is pretty arbitrary. But all of this said, no we have not been living on $20k or $200k. I understand this narrows it down and gives some perspective.

[Fizgig]

35, single, $95k/yr (was making more like 70k until last year)

Assets:
Retirement: 158k
Liquid: 40k
House: 150k

Liabilities:
Mortgage: 87k

Net worth ~ 260k

I'm comfortable calling that an A. I live cheaply, have solid earning power, and don't feel a driving need to be uber rich.

[LivingAlmostLarge]

Our income has varied a lot over 13 years as well. We made $20k to $175K. plus we went down to 1 income and then added 2 kids. It's not what you make it's what you save. Plus in 2006 when we got our real first job and we had $4k in retirement savings. Since then we just saved the maximum and my DH was able to get retirement accounts being foreign. So the only savings previously was done by me and we were graduate students.

[Blessed]

This seems kind of arbitrary to me if we're not listing income. Our household income is about $70,000 to $80,000 depending on the year.

Income for us the last few years has been between $60k and $65K. Over the last 20 years it has been between $18k and the $65K. Dh has always been full time and I work a few hours a week for the last 18 years. Dh makes 90% of the $. I manage all of it

[disneysteve]

These numbers are a month or so old. I haven't had time to update everything lately.

Assets:
Non-Retirement Accounts: $285,000
Retirement Accounts: $280,000
Home: $250,000
College Savings for DD: $53,000
Total Assets: $868,000

Debts:
Mortgage: $60,000
Car: $5,800
Total Debts: $65,800

Net Worth:
$802,200

[JoeP]

How do you calculate retirement account net worth when you'll owe taxes on some of them (those with deferred taxes) at withdrawal time?

[feh]

How do you calculate retirement account net worth when you'll owe taxes on some of them (those with deferred taxes) at withdrawal time?

It would be interesting to also list unrealized gains in those accounts. We just left a financial advisor and sold everything (and then re-invested), so our unrealized gains are very small.

The plan for most folks is that when they start withdrawing funds they'll be in a lower tax bracket, so taxes will be less than what they'd pay if they sold today (or maybe even 0).

[$ hoarder]

Houses: 360k
Cash: 46k
Assets: 33k
Retirement: 197k
636k

Mortgages: 315k
Car: 19 k
334k

Net worth: 302k

Ages 29/33

[KTP]

I forgot our ages: 41 and 42

I should edit our net worth since I had some cisco stock options (Jan 2014 $20 strike) that I had purchased awhile back that were up 96% today ($18,000!). Yes I am doing a little happy dance.

I would give us a B or C+ since we save a lot of our income and live on about 25k a year now but we spend our early 30s being stupid. We used to spend $1500 a month eating out

[phantom]

I'm finally at the computer with my GnuCash file and enough time to post in this thread. At 30 and 34, this is what my husband and I have:

Assets
Cash: $43,873.02
Retirement: $77,292.37
Cars: $21,355 *
House: $290,000
Total: $432,520.39

Liabilities
Mortgage: $159,431.38
Total: $159,431.38

Net Worth: $273,089.01

* I include our cars in our net worth because I don't like seeing a big drop in our net worth graph just because we bought a car. Also, I figure we could liquidate a car if we really needed to. I use KBB to adjust the values for deprecation once a year.

Our income is currently at 133k/year, but both my husband and I have seem some substantial pay increases over the past few years. I think we were at about 95k/year right before my husband lost his job and my pay was cut, prompting us to go find much better jobs.

We're not where I'd like to be in terms of retirement savings. But, we've been making good progress there over the past year or so, so I think we're fine as far as that goes.

Overall, I give us a B. We could certainly be doing much better, but I'd still say we're doing well enough. I think I'm using an easier scale than some of the rest of you though.

[scfr]

How do you calculate retirement account net worth when you'll owe taxes on some of them (those with deferred taxes) at withdrawal time?

Personally, I discount pre-tax financial assets (401K, Traditional & SEP IRAs) by 15% but have been pondering upping that to 20%. I also discount estimated house value to reflect what I would expect to pay in sales costs (pre-sale sprucing up & real estate agent fees). Makes my "number" lower but I like to take off the rose-colored glasses when dealing with my finances.

[UnknownXV]

I feel so far behind on this forum, although it's good to know so many are well off too.

I'm 22 with $11,500 in savings, no debt.

At least I'm not in the negative.

[MonkeyMama]

It would be interesting to also list unrealized gains in those accounts. We just left a financial advisor and sold everything (and then re-invested), so our unrealized gains are very small.

The plan for most folks is that when they start withdrawing funds they'll be in a lower tax bracket, so taxes will be less than what they'd pay if they sold today (or maybe even 0).

This is just one more reason these things are hard to compare - very apples to oranges - "personal" finance.

I don't expect it to be this way forever, and the tax code is ever changing, but right now 85% of our net worth is tax sheltered (home equity and ROTHs). The other 15% I would like to convert to ROTHS in times of unemployment or early retirement (and/or when stock market dives). This is what we have already done in the past, but I've got another work retirement plan that has since been converted into an IRA and the market and our tax rate has been too high to convert that one. I suppose we have some investments in taxable accounts too, but our long-term capital gains rate is 0% and we periodically harvest gains at 0%. (So even if our tax rate went up tomorrow, we have no unrealized gains - it would be a "future gains" problem).

For me, the tax situation has to be factored when tracking if we are meeting goals and if we are on track to retire. Just more factored in the "monthly income I need to survive" calculation, for me.

[MonkeyMama]

I feel so far behind on this forum, although it's good to know so many are well off too.

I'm 22 with $11,500 in savings, no debt.

At least I'm not in the negative.

That is great Unknown! I am sure at 22 my net worth was a big fat -$0-. We all have to start somewhere... The more you save, the more it grows and the easier it gets.