What is your house worth
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Anonymous
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What ages are you?
Net worth? HHI? # of kids? Please share - curious - my sister thinks we are poor and it was dumb of me to quit. She is younger by 5 years and has much less but likes to criticize. I could have continued another 3-4 years or more but the politics and the gradually decreasing level of my staff (education, experience, communication, just overall) was demotivating. Ages - 52, 51 NW - $3.7M (including house). Low per DCUM standards I know and HHI is even lower. HHI - $200k now (from $425k as I just quit last week after 25 years when I turned 51 due to some chronic health issues). Kid - 12 year old (in private school since age 5. House was purchased for $500k two decades ago and value hasn’t moved much.About $700k. We’ve done $200k worth of improvements. New everything. We paid off our mortgage 5 years ago. I would like to upgrade because I think our area is getting worse. DH is ok with that but wants to not spend a penny more than what we get for this house. I think we could afford a small mortgage even with private for a couple more years till middle. Sure we won’t save much but that’s OK. The houses I am looking at are about $1.2M. |
Anonymous
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50 and 52
$7-8M. Not exactly sure but somewhere around there. $3.7m of it is our 2 houses 3 kids 2 in college one in private school HHI $600-900k depending on bonuses. All DH. I’m a SAHM. |
Anonymous
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What ages are you? I'm 37, he's 41
Net worth? 8 figures HHI? 7 figures # of kids? 2 We bought for 4.4. Zillow says it's worth 5.9 now, but those things are never accurate. |
Anonymous
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45, 42
$4M with house (only including paid off portion) HHI- $500k 2 kids, 10 and 8 House is about $1.5M. We’ve paid off about $$350k (bought for about $1M). Own it, ignore her. I think if it’s not safe you should move and can easily take some from savings to reduce monthly mortgage. Also unless special needs maybe forget the private. |
Anonymous
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Ages 41,42
NW outside primary residence $15 mil HHI $650K (I quit last year) 2 kids in private Home value about $2 mil, purchased for $1.4, we have about $900K left on mortgage and pay about $60K/year for mortgage, insurance, property taxes You're obviously not poor. You could sell your house for $700K minus fees and taxes and take out a loan for $500K at current rates. Calculate that amount and your other expenses and see if you can live that way without stress. Then see how much you anticipate needing in retirement. Are you on track? As long as you and your husband are on the same page for what life looks like in retirement, you should have your answer. Your sister's view doesn't matter on this. |
Anonymous
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50 and 40
net worth 1 million HHI: 850 last year, around 650 this year 1 kid in private house was purchased for 650, now appraised at 1.25. We're adding on soon (big lot, amazing location). we'll have a 3mil for around 1.8 investment when done. |
Anonymous
PP. Is that newish income as your NW is really low for that HHI. |
Anonymous
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Ages - 48, 49
NW - $6.3M (including paid off house worth $800k). HHI - $300k Kid - 17 year old I shared but I’m not sure that it helps you in any way. Will your health issues mean higher expenses in retirement? Do you know how you will deal with elder care expenses? You guys are definitely fine but doubling the cost of your house may not be the wisest decision. Sure you won’t lose the money exactly but it will be tied up. Can you find a lower priced option in a neighborhood you like? Your kid is in private school so the schools are not an issue. |
Anonymous
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What ages are you? 41, 48
Net worth? I don't know HHI? Appx. $300K # of kids? 3 House is worth appx. $900K - we will pay it off in about 4 years. I think I will work until I am around 60. |
Anonymous
| ^^ All 3 kids in public school but that probably goes without saying |
Anonymous
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Ages - 37, 41
NW - ~$1m HHI - $300k (we only recently broke this mark) Kids - 8, 6, 2 House is worth about $1.1M (we have 550k left on mortgage) so about 550k in equity. We paid $850k 5 years ago, thankfully before we got totally priced out of our close in neighborhood (and refi’d at <3% rate). Public schools are good, so no private tuition. We have another $500k in retirement savings not including the fact I’m a fed (12 years in) with a future FERS pension. And another ~100k in 529s, which we don’t count in NW since it’s for our kids. No other debt. Childcare costs have eaten a lot of our disposable income for much of the past decade. We’ll bump up retirement, investments, and 529s in 3 years when the youngest starts K. Our incomes have some room to go up, but definitely not to 7 figures like some people on this board! |
Anonymous
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What ages are you? early 40s Net worth? $1.6M (includes $300K house equity) HHI? $150K (one SAHP) # of kids? 3, all public school |
Anonymous
| everyone on this forum is rich, and OP you're in a great shape. As long as your don't spend more that what you earn, your numbers look great. |
Anonymous
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We are 51 and 59
Networth outside of equity: 1.7 in retirement and investment plus 200k in college saved. I will have a small pension dh will have a more robust one. Hhi 250k 2 kids …1 starting private next year (7th) other Public all the way through Bought for 900k in 2021 and put 150k in updates (it was all original 1970s). Worth about 1.2 now. We have 600k mortgage. Fortunately at 3%. |
Anonymous
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We are mid 40s
Net worth in the upper 30s HHI $2.7M (all but $125k) is investment income House $7.5M (bought for $3M 10 years ago, put in $2M) 3 kids in public school |