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

[bennkar]

I'm a little late to the party, but oh well... I'll throw my info in as well. 50 y.o., divorced, live by myself, but dating same woman for 2 years.

Assets:
457 & Roth IRA: $340,000
DRIPs: $30,000
Brokerage: $6,400
Savings & CDs: $22,000
Pension: $75,000 (Actually its worth much more than that, but if I left this job and asked for a lump sum, this is what I would get. I figure it could get me double if I were to try to sell it.)
House: $400,000
Savings Bonds: $2,500
Misc. (car, collectables, etc...): $10,000

Debts: $0

Net Worth: $885,900 (I was surprised when I added that all up)

I'll give myself an A as 15 years ago my worth was maybe $5,000. If I told myself then that in 15 years I would have all of this, I wouldn't believe it.

Now if I add my girl friend's worth, and make it "our net worth", and while she doesn't have any house, her other assets are worth more than mine.... yeah, we're doing ok.

[JuniorTT]

DW and I are both 33.

Cash: $40k
Retirement: $424k
Home equity: $284k
HSA: $21k
Cars: $7k
Student loan: -$7k

Total: $768k

I'd give us an A-. We paid off our house at the age of 31 which not many people can say. One knock I'd give us is that we didn't get serious about retirement saving until we were ~27. The other is that we each bought brand new cars when we were 23 and 24.

[shaggy]

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.

Take heart. Time is on your side, and the savings habits you develop now will make it much easier for you to save later on when your income skyrockets.

[UnknownXV]

I know it's not terrible for my age, it's just daunting to see how far I have to go, but I'm sure you've been there before...

[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.

[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.

[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.

[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.

[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.

[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

[$ hoarder]

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

Mortgages: 315k
Car: 19 k
334k

Net worth: 302k

Ages 29/33

[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).

[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?

[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

[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