Share your Net-Worth!

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brokeasajoke7
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Share your Net-Worth!

Postby brokeasajoke7 » Mon Mar 09, 2015 9:23 pm

Please share your net-worth. Want to be motivated and understand your investments and how you got there. If not share some positive moments in some great financial decisions you have made.

kombat
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Re: Share your Net-Worth!

Postby kombat » Tue Mar 10, 2015 4:01 am

$630,000. 39 years old, married, no kids. Full breakdown of assets/debts in my journal thread.

Tightwad
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Re: Share your Net-Worth!

Postby Tightwad » Tue Mar 10, 2015 8:19 am

I don't keep a running total but I'd estimate a liquid net worth of approx. $500K combined for me & my wife.

A few things I learned long ago:
*Every dollar has a name.
*Spend way less than you earn & invest the rest in index funds.
*Don't watch the market every day.
*Ignore the financial talking heads on TV.

brokeasajoke7
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Re: Share your Net-Worth!

Postby brokeasajoke7 » Fri Mar 13, 2015 5:32 pm

Awesome advice

Do you have a list of index funds you would share with us. Also your age?


Tightwad wrote:I don't keep a running total but I'd estimate a liquid net worth of approx. $500K combined for me & my wife.

A few things I learned long ago:
*Every dollar has a name.
*Spend way less than you earn & invest the rest in index funds.
*Don't watch the market every day.
*Ignore the financial talking heads on TV.

Tightwad
Posts: 1356
Joined: Mon Nov 01, 2010 5:15 pm
Contact:

Re: Share your Net-Worth!

Postby Tightwad » Fri Mar 13, 2015 6:10 pm

brokeasajoke7 wrote:Awesome advice

Do you have a list of index funds you would share with us. Also your age?


Tightwad wrote:I don't keep a running total but I'd estimate a liquid net worth of approx. $500K combined for me & my wife.

A few things I learned long ago:
*Every dollar has a name.
*Spend way less than you earn & invest the rest in index funds.
*Don't watch the market every day.
*Ignore the financial talking heads on TV.

I'm 44 & I have a variety of index funds. Some are target date funds, some are large caps, & some are small caps.

Masterlandlord
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Re: Share your Net-Worth!

Postby Masterlandlord » Sat Mar 28, 2015 6:53 pm

I refuse to do this. You calculate your IRA, 401k blah blah pension into that.

It is totally impossible for me to compare. Pension in my country Finland(Europe) goes as the government does not ask they take it from your salary. It is a percentage of your salary in my country that goes to pension and the more you work/earn during your life time the more pension you get.

If you ask how much pension do I get when I get to that age my answer is that I don't have a clue... and neither do I know how much pension have I earned so far... I don't worry about that people in my country do not starve on their pension age... though economically it can be tougher for some people.

Tightwad
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Re: Share your Net-Worth!

Postby Tightwad » Sun Mar 29, 2015 5:41 am

Masterlandlord wrote:I refuse to do this. You calculate your IRA, 401k blah blah pension into that.

It is totally impossible for me to compare. Pension in my country Finland(Europe) goes as the government does not ask they take it from your salary. It is a percentage of your salary in my country that goes to pension and the more you work/earn during your life time the more pension you get.

If you ask how much pension do I get when I get to that age my answer is that I don't have a clue... and neither do I know how much pension have I earned so far... I don't worry about that people in my country do not starve on their pension age... though economically it can be tougher for some people.

I won't speak for anyone else but there's no "pension" numbers in my calculated net worth.

You do understand that IRA's & 401K's are not the same as a government sponsored pension, right?

Masterlandlord
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Re: Share your Net-Worth!

Postby Masterlandlord » Sun Mar 29, 2015 8:44 am

Tightwad wrote:
Masterlandlord wrote:I refuse to do this. You calculate your IRA, 401k blah blah pension into that.

It is totally impossible for me to compare. Pension in my country Finland(Europe) goes as the government does not ask they take it from your salary. It is a percentage of your salary in my country that goes to pension and the more you work/earn during your life time the more pension you get.

If you ask how much pension do I get when I get to that age my answer is that I don't have a clue... and neither do I know how much pension have I earned so far... I don't worry about that people in my country do not starve on their pension age... though economically it can be tougher for some people.

I won't speak for anyone else but there's no "pension" numbers in my calculated net worth.

You do understand that IRA's & 401K's are not the same as a government sponsored pension, right?

Well kombat has:
"$223,500 RRSPs (Canadian 401(k)'s)
$7,300 TFSAs (Canadian Roth IRAs)"
counted in net worth....

Yes I believe 401k is something you can choose to withdraw from before pension age. However in my country we pay lots of tax in order to get no need for study loan and get unemployment benefits, study benefits(I have never needed a studyloan) and secure pension.

It is true I can not withdraw money from my pension but none the less it is there and we have virtually no homeless people except a few extreme drug or alcohol users because government support is not without limit.

I am sorry, but I don't feel like wanting to share:). However you have done very well with your wife though you are older then me so in that regard difficult to compare. I will not tell my exact age but sure I am mature it means I must be at least 30+ and now you know that I am younger then you so younger then 44.

LMoot
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Re: Share your Net-Worth!

Postby LMoot » Sat Jul 04, 2015 6:46 am

Net worth: approx $82,000

I'm 31, unmarried, no kids. I've never earned a large income . I also don't owe or spend much. Debt is $57k mortgage and $6k 0% cc.

To be honest at first I was a little dejected when I first joined to see people my age with net worths triple mine, but I got over that. I'm proud of what I've done being single and barely earning 50k (and only for the last 2 years). When I bought my house 6 years ago (20% down), I was only taking home $22,000.

My advice is to not get too caught up on the numbers or compare yourself to others. Everyone has different goals and lifestyles. I prefer the simple life with minimal stress from modern/career demands, therefore I knew I wasn't going to ever make a large income as an employee. On the other hand my younger cousin is a successful accountant at a major firm, and her brother is in his 2nd year of medical school to become an orthopedic surgeon. Coming from a family of engineers, accountants, biologists and RN's , I'm kind of the lone wolf in my lifestyle and career choices.

My goals also differ than many in that I don't want to retire early. I want to work for as long as I physically can, but more on an intermittent/ seasonal schedule. I want the luxury of being able to choose jobs based on what they can provide me on a personal level, what they can teach me, and how engaged they make me feel. Therefore I plan on continuing to earn money for as long as my body and mind lets me.

kombat
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Re: Share your Net-Worth!

Postby kombat » Mon Jul 27, 2015 9:33 am

LMoot wrote:I don't want to retire early. I want to work for as long as I physically can [...] I plan on continuing to earn money for as long as my body and mind lets me.


I get that 31-year-old LMoot feels that way, but how confident are you that 68-year-old LMoot will still feel that way?

I don't pretend to know what I'm going to want 30 years from now, any more than a 30-year-younger me could have foreseen that I'd end up where I am today. I may want to keep working, or I may be exhausted. I may be injured, disabled, unemployable, facing age discrimination, needing to care for aging parents full time, or any number of other factors that could take me out of the workforce.

I would like to have the *option* of retiring with dignity at a reasonable age, even if when I get there I would prefer to keep working. I don't want to build a life plan around the idea of working all the way into the grave, then find myself unemployed at age 70 with another 15 years of life in me, and an empty bank account.

LMoot
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Re: Share your Net-Worth!

Postby LMoot » Mon Jul 27, 2015 1:40 pm

I fully intend to have the necessary cushion to retire comfortably by my 60s, but I don't intend to retire early by the PF crowd standards...meaning 30s, 40s, or 50s. Because of that I am not focusing on amassing as much as I possibly can for the future.

Of course I won't know how I feel in my 60's, but just looking at my family all of the older people on both sides of my family are/were active into their late 60s - 80s and beyond. I won't be able to predict anything, you're right. But I can heighten my chances by staying as fit and healthy as I can. My personality probably won't change and I have a busy-bee personality (like my 86 yr old grandmother who gardens 2 hours per day, goes on the treadmill 30 min per day, and teaches ESOL twice/ wk, and still drives), so barring any genetic health crisis (luckily rare on both sides of my family...KNOCKING ON SO MUCH WOOD) or accident, I feel comfortable in the likelihood that I will be doing SOMETHING, even if it's not for money, well into my 70's.

I wouldn't put myself in a vulnerable position (or I hope I wouldn't) at my most vulnerable time, but I don't want to preemptively overcorrect things that may never happen, at the expense of being able to build something I can enjoy for myself between now and 67. The what-if game should be played up to a certain point, but there are some people who make it their goal to blindly max out every retirement account and pad every investment account they can, without even taking into consideration whether their lifestyle will even require that much money in retirement. It's one thing if you're rolling in scrill and you can do all of that without drastically limiting your current and near future lifestyle, but I will stick to saving what I think I will use, and then some....but not too much. I'm going for the "Price is Right" sort of retirement.

But to summarize, I am in no way pinning my retirement on my ability to work into my later years. I would just consider it an additional net to all of the others I am building. I think if we can expect things to go wrong, then we should also be able to expect things to go right as well. I'm sure that's a bit too new-agey of a view for you, but it's carried me through so far.

avocado
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Re: Share your Net-Worth!

Postby avocado » Fri Aug 07, 2015 11:43 am

I don't think Lmoot is saying that she's relying on working until she drops as a necessity - just that she hopes to be able to work that long out of desire. Some of the things she's done or is still doing (working at a zoo anyone?) are things that I would be thrilled to do after I "retired", so I totally get where she's coming from.

jpham540
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Re: Share your Net-Worth!

Postby jpham540 » Fri Aug 26, 2016 11:18 pm

My net worth is $664,722, I'm 29 years old and I have been kind of in and out of this forum for awhile. I will try to be more active on this forum. You can follow me on my blog on my signature. I accumulated my wealth from working oversea and still currently working oversea now. I also do a lot of index investing, dividend stocks, and currently own 3 rental home. I'm hoping to make another rental home purchase in another 3-7 month. I'm trying to retire early maybe around 40 years old and possibly relocate and live oversea where I can receive some tax benefit for living oversea. I think working oversea was my best move, although you have to make some sacrifices like missing a lot of family events and friends.

Good luck on your journey and if you need help just ask, their is a lot of smart people on this forum.
http://www.theexpatinvestor.com/


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