How old are you and how much is your net worth?

[Anonymous]

Anonymous wrote:No, I know DCUM has a fairly wealthy readership and that the wealthy people are more likely to post. Most of these numbers seem reasonable to me. I'm just skeptical of people in their early 30s claiming their net worth is in the millions. A 33 year old with a $2 million net worth has a net worth 240 times the average for her age. Even an extremely high income won't get you there if you have any debt. I feel like some people are either lying or forgetting to subtract their debt from their assets.

At 33, my net worth was about $240,000. But it was a million dollars by the time I was 38.

[Anonymous]

Anonymous wrote:31, somewhere between 150k and 200k. I came out of law school with about -180k so happy to just be positive. Mint.com counts a car as an asset-but I'm not really sure whether I'd count it as part of my net worth.

Geez, my law school debt was around $25K. Of course, I graduated 20 years ago You poor thing.

[Anonymous]

Anonymous wrote:Net worth alone is meaningless. How much of this is yours and how much was inherited/trust fund.

Why is it meaningless? The question was about net worth, not value as a unit of income generation. All of my net worth is from wages and investments, but if and when I receive a (small) inheritance from my parents I'll view that no differently than salary income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:yeah, we are currently in negative territory since we owe $420K+ on our home. If we didn't have to subtract that debt, it wouldn't be so ugly.

We're 36 with 1 child - HHI of ~$135K.

Is your mortgage worth more than your home?

we've gained a little on it since we bought it 2 years ago. We just still owe a lot on it, plus we took out a HELOC to pay for some home repairs and a few other things (like fertility treatments since my first child apparently screwed up my body to the point where I can't get pregnant without the use of technology).

Our retirement accounts+other savings+529 savings aren't bad for our HHI, but even if you add in what we still have in equity, subtracting the debt (mortgage+HELOC+1 car loan) from that gives us negative net worth.

We would have been in the positive by a couple thousand had we stayed in our little TH forever, but we made the decision to have a house with a yard. I think there are a lot more families out there like ours, they just aren't answering this question.

[Anonymous]

I'm 32 and DH is 31. Net worth ~$400k (~$250k of that is home equity).

[Anonymous]

Anonymous wrote:Early 50s, net worth of around $7.5 million. Typical for the DC area tail-end baby boomer professional class, I think.

Um, no.

[Anonymous]

Anonymous wrote:

Anonymous wrote:31, somewhere between 150k and 200k. I came out of law school with about -180k so happy to just be positive. Mint.com counts a car as an asset-but I'm not really sure whether I'd count it as part of my net worth.

Geez, my law school debt was around $25K. Of course, I graduated 20 years ago You poor thing.

Mine was 220, husband's 200. Good times.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:yeah, we are currently in negative territory since we owe $420K+ on our home. If we didn't have to subtract that debt, it wouldn't be so ugly.

We're 36 with 1 child - HHI of ~$135K.

Is your mortgage worth more than your home?

we've gained a little on it since we bought it 2 years ago. We just still owe a lot on it, plus we took out a HELOC to pay for some home repairs and a few other things (like fertility treatments since my first child apparently screwed up my body to the point where I can't get pregnant without the use of technology).

Our retirement accounts+other savings+529 savings aren't bad for our HHI, but even if you add in what we still have in equity, subtracting the debt (mortgage+HELOC+1 car loan) from that gives us negative net worth.

We would have been in the positive by a couple thousand had we stayed in our little TH forever, but we made the decision to have a house with a yard. I think there are a lot more families out there like ours, they just aren't answering this question.

<headdesk>. Are you serious?

You either add in the equity you have in your house, or you add in the entire value of the house, and then subtract the equity. You don't add in the equity and then subtract the debt.

[Anonymous]

PP, you mean adding the value of the house and subtracting the debt. This equals the equity.

[Anonymous]

We're 33 and 27. We're at $1.1M, all in stocks, bonds, and cash (we rent).

[Anonymous]

Anonymous wrote:

Anonymous wrote:Early 50s, net worth of around $7.5 million. Typical for the DC area tail-end baby boomer professional class, I think.

Um, no.

Hilarious post of the week!!

[Anonymous]

Anonymous wrote:Again???! Why is there always a question like this every week?? I don't understand the obsession with comparing your money/ financial situation to anonymous posters.

+1 Obviously they're not fulfilled, even with whatever amounts of money they have. These threads are stupid, and there are a billion of them.

[Anonymous]

36 and 39. $8 million, none of it inherited. DH went from a nonprofit to a company with stock options and an IPO, and we've also done well in real estate. We're evidence that being lucky is at least as important as being good. DH is amazing and talented, but so are plenty of other people in this town who haven't been as lucky.

[Anonymous]

This is the stupidest post ever. WTF difference does it make? Why does the OP want to compare themselves to others, on an anonymous forum, where half the people lie on here about their "8 million" to quote a PP.

Half the people here are bull shitters. Living vicariously through some anonymous posting, to some unachievable prestigious status that they will never achieve.

Give me a break. "How much is your net worth"? Pathetic, much?

And P.S. - when you die, you die ALONE, without all your riches. Better start praying for absolution now.

[Anonymous]

Anonymous wrote:PP, you mean adding the value of the house and subtracting the debt. This equals the equity.

I may not have explained it well, but this is actually what I was doing. In the end, the debt still is more than what we have in the positive column. End of story.