Do most people on DCUM have a net worth of at least 1 million?

[Anonymous]

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Anonymous wrote:Most of it comes from their home.

If you were to take the home out of their 'net worth', most of the posters are not really millionaires.

But it is part of their net worth. If you took away Jeff Bezos' Amazon stock, he would not be a centibillionaire.

Stocks are more liquid than someone’s home residence.
Stocks > home.

You’re not very bright.

DUH

However, that does not change the definition of net worth, which definitely includes your home(s).

I currently own 4 homes (no mortgages, Approx $8M in value) and definately include those in my net worth.

Why are you including anything in your net wealth? I never even attempted to calculate mine until this thread. Who is asking you for this? A dating app?

DP, but at the moment the OP of the thread is asking. More generally, it's prudent to have an understanding of your financial picture, which includes net worth.

I'm not sure it really matters what my net worth is. I'm confident we're saving enough for college for our kids and for retirement for ourselves, but beyond that, who cares?

Lol, who cares about understanding their financial condition?? Is that your question? Net worth is a fundamental metric that everyone should understand, and it takes about 30 seconds to calculate. Are you OK when you kid says, "I'm not failing any classes - who cares what grades I get beyond that?!"

I don't really care how much more we have as long as we can pay for our kids to go to college and be more than comfortable in retirement, so no, I don't think it really matters what our net worth is as long as I'm confident we'll meet those goals. Which I am.

I do know what our net worth is, because my budgeting app tracks it (and because, as you point out, it's a quick calculation anyway). But to use your analogy, I basically consider it pass/fail, and I know we're passing. So I don't care that much about the specific amount.

[Anonymous]

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Anonymous wrote:Probably not. However, if you include home equity, which I assume you are some are probably close to it.

Why…wouldn’t you include home equity?

Well, you do need a place to live.

Also, FWIW, to the extent you think of net worth as being something you worked hard to build up, I don't know if I'd put my home equity in that category -- I mean, the main reason our home equity skyrocketed over the last few years is because we made the wise decision to already own a house in a desirable neighborhood before a global pandemic. Not exactly something that we had any control over.

[Anonymous]

Enjoy OP

https://www.dcurbanmom.com/jforum/posts/list/953526.page

https://www.dcurbanmom.com/jforum/posts/list/1063465.page

https://www.dcurbanmom.com/jforum/posts/list/1010101.page