What is your net worth? I'm excited to reach zero!

[Anonymous]

My personal net worth is about 300K, not including equity in primary residence. Ten years ago I was out of school and 50K in debt. Counting hubby's dough (he's been working for longer than me, benefitted from the housing market, and had no student loan debt), we add up to about $1.2M. A professional couple in our mid-thirties with a kid.

The first 100K are the hardest to accumulate. Then you reach a point, especially with your retirement savings, where a critical mass has been reached, and your money actually starts working for you. It's really kind of cool to watch. Feels like a freeby, really, except that you earned every penny of it.

[Anonymous]

About 20k. Hope to never have a mortgage so we can continue to be debt free and save, save, save!

[Anonymous]

Anonymous wrote:

Anonymous wrote:$750K. But none of it is liquid and we have horrible cash flow, like a previous PP said. It's weird to have nearly a million in the bank and feel broke. But I'm grateful we can pay the bills and have savings.

It's in the bank, but not liquid?

I misspoke. It's in retirement accounts and our equity.

[Anonymous]

Anonymous wrote:About 20k. Hope to never have a mortgage so we can continue to be debt free and save, save, save!

except that real estate can be a very good long-term investment. Maybe you save the amount you would put into a mortgage though.

[Anonymous]

[quote=Anonymous][quote=Anonymous]about 400k, we've been working for ~ 10 yrs out of college. Housing market screwed us.... Most of that is retirement funds.[/quote]
That's a lot in retirement funds for only 10 years. [/quote]

That's pretty reasonable given the right set of circumstances. I've been out of college 12 years (started work 3 months after graduation) and I have $285k as of last quarter. I started at $52k and now make $145+ bonus. I've been hitting the Federal max on my Roth 401k (after tax $$$) for 3 years now. Prior to that I had been maxing out the pre-tax amount.

I lived in 2 cities (lower cost of living) prior to DC, with roommates until I got married. I also started with only $18k in student loans and travelled full time for work for 9 years (I don't pay for vacations because of airline and hotel points). So - it can be done but you may have to make some sacrifices (i.e. roommates, no car, never home)

[Anonymous]

Anonymous wrote:

Anonymous wrote:do you factor in your house loan in the net worth?

Yes, mortgage debt goes into the calculation of net worth.

But does home value? According to my Mint account it appears to, but not to my Morgan Stanley "one view".

[Anonymous]

We are 33 and have a net worth of about $325k depending on what our house value is. (so I would say $300-$350 is the range of possibility).

While our salaries are decent, they are not miraculous. But we had the extreme privilege of not having student loan debt, so that's how we were able to build (a little bit of) wealth in retirement savings and home equity.

[Anonymous]

-136,000

fml

[Anonymous]

Anonymous wrote:-136,000

fml

Whew, just started to have a panic attack then recalculated. 78k, not as bad but still sucky.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You have a higher net worth than the average NFL player - not a bad place to start from! Go you.

Our is $600k - keep saving - it keeps growing very quickly - every year I look back to see what it was the previous year and I am surprised it grows so fast.

I remember being at $1M in 2008. Maybe you read about what happened next.

Smart people didn't sell but in fact bought more and more shares, and they are at $2 million today.

[Anonymous]

Some of these net worths don't make sense. Use this calculator to correctly determine net worth (you gotta include all your debt):

http://cgi.money.cnn.com/tools/networth/networth.html

[Anonymous]

We are definitely in six digits of negative net worth. It will take us a good 10 years, maybe more, to get to zero.

[Anonymous]

1.5M -- 2/3 in the market, 1/3 in equity. No debt of any kind.

We set a goal of having $1.0 million plus the house paid off by age 50. Reached it this year (48/49).

[Anonymous]

She has done well, $1M at age 33.

http://gma.yahoo.com/blogs/abc-blogs/judge-orders-1-million-returned-exotic-dancer-151044009.html

Judge Orders $1 Million Returned to Exotic Dancer
By Geetika Rudra | ABC News Blogs – 6 hours ago
Related CoView Photo
Judge Orders $1 Million Returned …
A federal judge has ruled that Nebraska cops must return over $1 million confiscated at a traffic stop from a woman who saved the money $1 at a time during her 15 year career as an exotic dancer.
The money belongs to Tara Mishra, 33, of Rancho Cucamonga, Calif., who began putting aside her earnings when she started dancing at age 18, according to an opinion U.S. District Judge Joseph Bataillon wrote last week. The money was meant to start her business and get out of the stripping business, the judge wrote.
State troopers confiscated the money in March 2012 when they pulled over Rajesh and Marina Dheri, of Montville, N.J., for speeding in Nebraska, according to court documents. The Dheris are friends of Mishra and had been given the cash so they could buy a nightclub in New Jersey. Mishra would own half of the business and the Dheris would own the other half.
Mishra had packaged the money in $10,000 bundles tied with hair bands and placed in plastic bags, and it was stashed in the trunk of the Dheri's rented car, which the Dheris were driving to Chicago. When they were pulled over for speeding, a state trooper asked the Dheris if he could search their vehicle, which they allowed, Bataillon explained.
The state trooper found the money and after suspecting it was drug money took the Dheris into custody, according to the judge's opinion. But police did not find any evidence of drug activity in the car and a K-9 analysis found only trace elements of illegal drugs on the cash, according to Bataillon.
Neither Mishra nor the Dheris could not be reached for comment.

[Anonymous]

Anonymous wrote:1.5M -- 2/3 in the market, 1/3 in equity. No debt of any kind.

We set a goal of having $1.0 million plus the house paid off by age 50. Reached it this year (48/49).

"equity" means stocks and "the market" means stocks.

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