Stop including your spouse’s net worth as part of your own!

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s very obvious what’s going on here: OP is either not married or divorced but in either case is currently single, and it irritates OP that other people talk about net worth by including their spouse because she or he feels like they can’t compete with that and it makes them feel inferior.

Apart from the “feeling inferior” part, this is correct. I’m the OP, I’m single, and I do find data around net worth to be of little help.

Do you believe that one person with a $2 million net worth is in the same financial position as a husband and wife with a combined $2 million net worth? Because that would be pretty ridiculous IMO.

But in so many respects the married couple is "one!" So many costs can be shared. They can live in one room together, can share one car...

[Anonymous]

Anonymous wrote:

Anonymous wrote:When I’m reading the threads about how much is needed to retire, etc. I do find myself looking to see if someone is talking about the amount for themselves or a couple. So in that sense, it kind of does make a difference when referring to net worth.

No, it doesn’t. Again, it’s not like being a couple is twice the cost of being single. It’s not even close.

+1. I think the OP fundamentally disregards this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s very obvious what’s going on here: OP is either not married or divorced but in either case is currently single, and it irritates OP that other people talk about net worth by including their spouse because she or he feels like they can’t compete with that and it makes them feel inferior.

Apart from the “feeling inferior” part, this is correct. I’m the OP, I’m single, and I do find data around net worth to be of little help.

Do you believe that one person with a $2 million net worth is in the same financial position as a husband and wife with a combined $2 million net worth? Because that would be pretty ridiculous IMO.

No I do don’t. But I also don’t consider them to be in the same position as two single people with $1M each. That would be ridiculous. You save a lot as a married couple over two single people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s very obvious what’s going on here: OP is either not married or divorced but in either case is currently single, and it irritates OP that other people talk about net worth by including their spouse because she or he feels like they can’t compete with that and it makes them feel inferior.

Apart from the “feeling inferior” part, this is correct. I’m the OP, I’m single, and I do find data around net worth to be of little help.

Do you believe that one person with a $2 million net worth is in the same financial position as a husband and wife with a combined $2 million net worth? Because that would be pretty ridiculous IMO.

Ha ha so I’m right - you’re single and are annoyed by married people with higher joint net worths.

The government tracks net worth by family, not by individual, by the way.

I wouldn’t necessarily say that a married couple with $2 million are in the same exact position as a single person financially, but the chasm isn’t nearly as wide as you think. Let’s take my situation as an example. I retired early with a nice net worth. I’ve also been married for 40 years. We have one house, not two, our health insurance premium isn’t double what it would be if I were single, and our grocery bill isn’t double either because most food packaging isn’t made for single people. When we travel we don’t stay in two hotel rooms either. Yes, some expenses are double since there are, in fact, two of us - but the big expenses - housing, medical insurance, groceries, utilities, car, etc. are not.

I know this kills you to hear, but it’s true. A married couple with a net worth of $4 million is absolutely much better off than a single person with a net worth of $2 million. They may not be doubly better off, but when it comes to the big living expenses they’re pretty close.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s very obvious what’s going on here: OP is either not married or divorced but in either case is currently single, and it irritates OP that other people talk about net worth by including their spouse because she or he feels like they can’t compete with that and it makes them feel inferior.

Apart from the “feeling inferior” part, this is correct. I’m the OP, I’m single, and I do find data around net worth to be of little help.

Do you believe that one person with a $2 million net worth is in the same financial position as a husband and wife with a combined $2 million net worth? Because that would be pretty ridiculous IMO.

Obviously, the single person is better off. Figure out your adjustment and apply it mentally. Something like a single person needs only two-thirds of what a married couple needs. a By the way, many people need to do these adjustments, for example, couple with disabled dependents need a higher net worth for retirement than whose without.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s very obvious what’s going on here: OP is either not married or divorced but in either case is currently single, and it irritates OP that other people talk about net worth by including their spouse because she or he feels like they can’t compete with that and it makes them feel inferior.

Apart from the “feeling inferior” part, this is correct. I’m the OP, I’m single, and I do find data around net worth to be of little help.

Do you believe that one person with a $2 million net worth is in the same financial position as a husband and wife with a combined $2 million net worth? Because that would be pretty ridiculous IMO.

You are correct, it's not the same thing. That is why measuring household assets doesn't really matter. But it makes people (especially people who married up) feel better about themselves. Look at me, I just got married and now I'm a millionaire! Just doubled my net worth, girlfriend! haahaha

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very obvious what’s going on here: OP is either not married or divorced but in either case is currently single, and it irritates OP that other people talk about net worth by including their spouse because she or he feels like they can’t compete with that and it makes them feel inferior.

Apart from the “feeling inferior” part, this is correct. I’m the OP, I’m single, and I do find data around net worth to be of little help.

Do you believe that one person with a $2 million net worth is in the same financial position as a husband and wife with a combined $2 million net worth? Because that would be pretty ridiculous IMO.

Obviously, the single person is better off. Figure out your adjustment and apply it mentally. Something like a single person needs only two-thirds of what a married couple needs. a By the way, many people need to do these adjustments, for example, couple with disabled dependents need a higher net worth for retirement than whose without.

Or a single person without kids versus one with kids. Obviously every net worth has to be considered in connection with the obligations.

[Anonymous]

You sound like you are either a bitter, jealous unmarried person, or someone who lost a lot of combined income/assets in a divorced.

[Anonymous]

Lol ok troll. Someone’s jelly

[Anonymous]

Anonymous wrote:

Anonymous wrote:When I’m reading the threads about how much is needed to retire, etc. I do find myself looking to see if someone is talking about the amount for themselves or a couple. So in that sense, it kind of does make a difference when referring to net worth.

No, it doesn’t. Again, it’s not like being a couple is twice the cost of being single. It’s not even close.

I know many couples with expenses far more than double those of a single person. Usually marriage is entered into with the intention of having kids, and that drastically raises expenses - daycare, college, food, braces, and on and on. A single person, or one who divorced before kids, will be able to stretch a $1 million or $2 million net worth much farther.

And lastly, one of the main things that eats up net worth is medical expenses later in life. With two people, the risk of encountering that situation is exactly double than for a single person.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When I’m reading the threads about how much is needed to retire, etc. I do find myself looking to see if someone is talking about the amount for themselves or a couple. So in that sense, it kind of does make a difference when referring to net worth.

No, it doesn’t. Again, it’s not like being a couple is twice the cost of being single. It’s not even close.

I know many couples with expenses far more than double those of a single person. Usually marriage is entered into with the intention of having kids, and that drastically raises expenses - daycare, college, food, braces, and on and on. A single person, or one who divorced before kids, will be able to stretch a $1 million or $2 million net worth much farther.

And lastly, one of the main things that eats up net worth is medical expenses later in life. With two people, the risk of encountering that situation is exactly double than for a single person.

See, you’re mixing apples and oranges. Everybody agrees that families with children are more expensive than couples without kids. That’s a complete no-brainer. We’re talking about something different entirely.

As a general rule, being married has financial advantages over being single. Anyone who has ever had to pay a “single supplement” for an all-inclusive trip knows this very well. It’s annoying, but it’s true.

Our system is set up to favor marriage. The tax system, the benefits system, all of it. To give just one of many examples, my spouse has never worked outside the home, but because we are married we will collect 50 percent more in social security benefits than the OP would. Why? The spousal benefit.

No one can credibly argue that from a financial standpoint is better to be single in this country than married.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When I’m reading the threads about how much is needed to retire, etc. I do find myself looking to see if someone is talking about the amount for themselves or a couple. So in that sense, it kind of does make a difference when referring to net worth.

No, it doesn’t. Again, it’s not like being a couple is twice the cost of being single. It’s not even close.

I know many couples with expenses far more than double those of a single person. Usually marriage is entered into with the intention of having kids, and that drastically raises expenses - daycare, college, food, braces, and on and on. A single person, or one who divorced before kids, will be able to stretch a $1 million or $2 million net worth much farther.

And lastly, one of the main things that eats up net worth is medical expenses later in life. With two people, the risk of encountering that situation is exactly double than for a single person.

See, you’re mixing apples and oranges. Everybody agrees that families with children are more expensive than couples without kids. That’s a complete no-brainer. We’re talking about something different entirely.

As a general rule, being married has financial advantages over being single. Anyone who has ever had to pay a “single supplement” for an all-inclusive trip knows this very well. It’s annoying, but it’s true.

Our system is set up to favor marriage. The tax system, the benefits system, all of it. To give just one of many examples, my spouse has never worked outside the home, but because we are married we will collect 50 percent more in social security benefits than the OP would. Why? The spousal benefit.

No one can credibly argue that from a financial standpoint is better to be single in this country than married.

The whole comparison is apples and oranges, which makes these stats almost meaningless when comparing single households to married households. It really depends on your personal situation. Most guys I know married women who make significantly less. Half of those guys are now divorced and don't have a pot to piss in. Of course, the opposite is true if you marry someone with a higher income. But either way, trying to make the case that 2 mil net worth single person is remotely close to 2 mil net worth couple is kind of absurd.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When I’m reading the threads about how much is needed to retire, etc. I do find myself looking to see if someone is talking about the amount for themselves or a couple. So in that sense, it kind of does make a difference when referring to net worth.

No, it doesn’t. Again, it’s not like being a couple is twice the cost of being single. It’s not even close.

I know many couples with expenses far more than double those of a single person. Usually marriage is entered into with the intention of having kids, and that drastically raises expenses - daycare, college, food, braces, and on and on. A single person, or one who divorced before kids, will be able to stretch a $1 million or $2 million net worth much farther.

And lastly, one of the main things that eats up net worth is medical expenses later in life. With two people, the risk of encountering that situation is exactly double than for a single person.

See, you’re mixing apples and oranges. Everybody agrees that families with children are more expensive than couples without kids. That’s a complete no-brainer. We’re talking about something different entirely.

As a general rule, being married has financial advantages over being single. Anyone who has ever had to pay a “single supplement” for an all-inclusive trip knows this very well. It’s annoying, but it’s true.

Our system is set up to favor marriage. The tax system, the benefits system, all of it. To give just one of many examples, my spouse has never worked outside the home, but because we are married we will collect 50 percent more in social security benefits than the OP would. Why? The spousal benefit.

No one can credibly argue that from a financial standpoint is better to be single in this country than married.

The whole comparison is apples and oranges, which makes these stats almost meaningless when comparing single households to married households. It really depends on your personal situation. Most guys I know married women who make significantly less. Half of those guys are now divorced and don't have a pot to piss in. Of course, the opposite is true if you marry someone with a higher income. But either way, trying to make the case that 2 mil net worth single person is remotely close to 2 mil net worth couple is kind of absurd.

Man, somebody is a really insecure single person lol. It’s ok, really. Why don’t you just worry about you . . .

[Anonymous]

Anonymous wrote:

Anonymous wrote:That's right people. We should stop speaking about money that is legally ours and which would be awarded to us in case of divorce because someone on DCUM finds it annoying.

Nope, that’s not what I’m saying. I’m the OP.

All assets accrued during the marriage, whether resulting from one earner and one SAHP or two earners, belong to both spouses. However, each spouse should consider only 50% of those assets as belonging to them individually. So if your net worth collectively at the time of marriage was zero and is currently $2 million (inheritances aside), you should consider yourself as having a net worth of $1 million.

What does it matter to you how I decide to calculate my net worth? Literally the only time it’s ever relevant is when I’m filling out forms about how aggressive or not I want my investment manager to be. Doesn’t seem like that should really affect you one way or the other.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When I’m reading the threads about how much is needed to retire, etc. I do find myself looking to see if someone is talking about the amount for themselves or a couple. So in that sense, it kind of does make a difference when referring to net worth.

No, it doesn’t. Again, it’s not like being a couple is twice the cost of being single. It’s not even close.

I know many couples with expenses far more than double those of a single person. Usually marriage is entered into with the intention of having kids, and that drastically raises expenses - daycare, college, food, braces, and on and on. A single person, or one who divorced before kids, will be able to stretch a $1 million or $2 million net worth much farther.

And lastly, one of the main things that eats up net worth is medical expenses later in life. With two people, the risk of encountering that situation is exactly double than for a single person.

The married couple would have twice as much money to use in the event that either one of them has an expensive condition. If both are sick then they are in the same position as a single person who is sick.