net worth snapshot

[Anonymous]

Anonymous wrote:

Anonymous wrote:Every year or so I look at our net worth. Thought I would share ours.
I don't really want to share our income/spending, because I think the net worth is a snapshot of *right now.* However, there is a followup question I'll pose after I share the details.

Asset ---- Liability
$575,900 home ---- $354,383.18 mortgage
$13,393.40 checking right now ---- $1,182.77 current cc balance that we pay off every single month
$73,204.73 retirement (I know it's small) ---- $105,265.44 student loans (I know it's huge)
$10,777 auto values, low-end ---- paid off

Net worth: 212,443.74

**Share yours, or feel free to comment on mine.**

This doesn't mean much without stating your age. E.g. If you're in your early 20s, you're fine. If you're in your 30s...uh-oh, would be my reaction.

SHUT UP. Her net worth is already above that of the median for the United States, which includes people who are 60 and have presumably have had the opportunity to save and invest for 40 years.

[Anonymous]

To all of you posting combined net worth figures: YOUR net worth is half of whatever you posted. If you don’t believe me, try getting divorced and see what happens.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP Here: It kills me that our student loans take so much of our monthly budget. That's where we get into income, etc..... The minimum is LOW, which only makes the balance grow, and the Trump/Biden student loan forbearance makes the minimum and interest 0 for the past two years. Because the balance would actually grow if paying minimums, during normal times, we regularly put in 1800-2000 monthly to bring the balance down. We have continued this during forbearance. The loan is related very very very specifically and directly to DH's career, and the job pays well.

I feel like anyone with the wherewithal to keep this level of bookkeeping should be able to earn more and have a higher net worth. OP, you are underemployed.

I agree. I am trying to go back to work with my youngest being in preschool.
And! I’m not actually interested in picking up where I left off. As if they would accept my gap in work anyway.

Its tough. This goes back to a thread about sahms returning to work. We need people to not categorize us as a whole. There are many different sahms. I worked in unrelated areas, part-time, while having little babies and kids. But, I did have gaps. I’m still intelligent and would be an asset in some way.

[Anonymous]

49 and 52

690k house, 350k mortgage balance
Retirement investments 1.03M (down a lot but keep buying to DCA)
Checking is mere 6k!! (We just finished kitchen reno last month in which we paid primarily cash for. Normally we keep 20k in cash.)
Toyota car loan 8k balance (bought in Jan 2021, put 20k down)
No cc, paid monthly
Second car BMW with no loan. We drive cars for 10-15 years.

Net worth is 1.3-1.4M. Didn't include cars since they are depreciating assets

[Anonymous]

These figures are useless without stating how much family help you had, if you were hooked/went to a private school, and your profession/university you graduated from.

Most on this forum have family money / are hooked.

[Anonymous]

Anonymous wrote:So what’s your follow-up question?

This.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP Here: It kills me that our student loans take so much of our monthly budget. That's where we get into income, etc..... The minimum is LOW, which only makes the balance grow, and the Trump/Biden student loan forbearance makes the minimum and interest 0 for the past two years. Because the balance would actually grow if paying minimums, during normal times, we regularly put in 1800-2000 monthly to bring the balance down. We have continued this during forbearance. The loan is related very very very specifically and directly to DH's career, and the job pays well.

I feel like anyone with the wherewithal to keep this level of bookkeeping should be able to earn more and have a higher net worth. OP, you are underemployed.

I agree. I am trying to go back to work with my youngest being in preschool.
And! I’m not actually interested in picking up where I left off. As if they would accept my gap in work anyway.

Its tough. This goes back to a thread about sahms returning to work. We need people to not categorize us as a whole. There are many different sahms. I worked in unrelated areas, part-time, while having little babies and kids. But, I did have gaps. I’m still intelligent and would be an asset in some way.

At age 51 (as a working mom with 3 teenage children), I have some perspective on this one. In the old days, I think that returning to the workplace was harder for women after a long gap. Now, I think that's no longer the case. The economy and jobs have changed so much. You can do just fine when you return. For now, enjoy your time as a SAHM with your young children . . . you will not regret it. You are young and have time to earn/invest.

[Anonymous]

42/45

Primary home value 950k mortgage 480k equity 470k
Rental Real estate value 600k , mortgage 280k equity 320k
Brokerage and retirement accounts about 1.7 mil

Cash 200k

NW total about roughly 2.6 mil

[Anonymous]

mid 40s, two teens

cash savings: 40K
Investments: 1.2M
Property: 1.1M

mortgage: 845K
student loan: 20K
credit card: 15K

Net Worth: 1.46M

(plus two generous pensions that I'm not sure how to factor in)

[Anonymous]

We just hit 4M!

House 675-1.2 (paid off. sale price v's Zillow; DH uses 1M)
Checking 25K (we haven't set up a sweep system yet)
CC paid off each month
roughly 3M in savings combining retirement which is about 2.5 and other which is between 500K - 1M.

So I have a NW of 2M and have two kids to educate still. We are both 45.

I can't believe it (born impoverished)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP Here: It kills me that our student loans take so much of our monthly budget. That's where we get into income, etc..... The minimum is LOW, which only makes the balance grow, and the Trump/Biden student loan forbearance makes the minimum and interest 0 for the past two years. Because the balance would actually grow if paying minimums, during normal times, we regularly put in 1800-2000 monthly to bring the balance down. We have continued this during forbearance. The loan is related very very very specifically and directly to DH's career, and the job pays well.

I feel like anyone with the wherewithal to keep this level of bookkeeping should be able to earn more and have a higher net worth. OP, you are underemployed.

I agree. I am trying to go back to work with my youngest being in preschool.
And! I’m not actually interested in picking up where I left off. As if they would accept my gap in work anyway.

Its tough. This goes back to a thread about sahms returning to work. We need people to not categorize us as a whole. There are many different sahms. I worked in unrelated areas, part-time, while having little babies and kids. But, I did have gaps. I’m still intelligent and would be an asset in some way.

At age 51 (as a working mom with 3 teenage children), I have some perspective on this one. In the old days, I think that returning to the workplace was harder for women after a long gap. Now, I think that's no longer the case. The economy and jobs have changed so much. You can do just fine when you return. For now, enjoy your time as a SAHM with your young children . . . you will not regret it. You are young and have time to earn/invest.

I'm a doctor doing back after a 5 year gap with intermittent work. It's fine, my new FT salary which is my highest ever will be $218K. And no call!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP Here: It kills me that our student loans take so much of our monthly budget. That's where we get into income, etc..... The minimum is LOW, which only makes the balance grow, and the Trump/Biden student loan forbearance makes the minimum and interest 0 for the past two years. Because the balance would actually grow if paying minimums, during normal times, we regularly put in 1800-2000 monthly to bring the balance down. We have continued this during forbearance. The loan is related very very very specifically and directly to DH's career, and the job pays well.

I feel like anyone with the wherewithal to keep this level of bookkeeping should be able to earn more and have a higher net worth. OP, you are underemployed.

I agree. I am trying to go back to work with my youngest being in preschool.
And! I’m not actually interested in picking up where I left off. As if they would accept my gap in work anyway.

Its tough. This goes back to a thread about sahms returning to work. We need people to not categorize us as a whole. There are many different sahms. I worked in unrelated areas, part-time, while having little babies and kids. But, I did have gaps. I’m still intelligent and would be an asset in some way.

At age 51 (as a working mom with 3 teenage children), I have some perspective on this one. In the old days, I think that returning to the workplace was harder for women after a long gap. Now, I think that's no longer the case. The economy and jobs have changed so much. You can do just fine when you return. For now, enjoy your time as a SAHM with your young children . . . you will not regret it. You are young and have time to earn/invest.

I'm a doctor doing back after a 5 year gap with intermittent work. It's fine, my new FT salary which is my highest ever will be $218K. And no call!

Thank you, to the 51yr old app. I’m not the person you are responding to but I think about this a lot.

To the doctor returning to work, that’s awesome! Glad it’s working out well for you! I get the impression some industries are easier to return to than others. I worked in policy as a fed. Zero flexibility when I wanted to downshift so I left. Very likely I’ll never be able to return and if I do it’ll take years to work my way back up.

[Anonymous]

Anonymous wrote:Late 50s:

Primary home (plus 3 rentals on site) $425K -- no mortgage
Second home (plus 2 rentals on site) $385K -- no mortgage
$24K checking
$57K savings
$52K HSA
$1.6M retirement and brokerage
No debt -- all ccs paid monthly

Net worth: $2.5M roughly

Obviously not in the DMV

Thats excellent. Do you have to use the hsa funds every year? Ive never had one that wasnt use it or lose it by the end of the year. I always found them a bit more trouble than they’re worth?

[Anonymous]

Anonymous wrote:We just hit 4M!

House 675-1.2 (paid off. sale price v's Zillow; DH uses 1M)
Checking 25K (we haven't set up a sweep system yet)
CC paid off each month
roughly 3M in savings combining retirement which is about 2.5 and other which is between 500K - 1M.

So I have a NW of 2M and have two kids to educate still. We are both 45.

I can't believe it (born impoverished)

Congrats! That is excellent! What’s your income and what do you do for a living? We are similar, but im guessing lower HHI ($250k). We’ve had some windfalls due to a death in the family, and are also lucky with when we bought our DC house. It has shown very similar appreciation to yours..

[Anonymous]

Early 40s

Asset——Liability
$970,000 home ——$240,000 mortgage
$18,000 checking/savings —-$3-4,000 on credit cards paid off every month
$500,000 retirement—-no student loans
$10,000 HSA
$100,000 auto values (don’t ask, I know)
$100,000 529 for kids (not counting this as part of net worth though)

Net worth: 1.3 million plus a pension that will give $50,000 per year