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Reply to "FYI: Don't include home equity in net worth"
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[quote=Anonymous][quote=Anonymous]Net Worth = investments that make money like saving accounts, bonds, stocks, brokerage and rental property (just the net income). Here's why. NW is a calculation of assets that are making money for you. Your house is a cost center. Tax, repairs, ect. Even if you have equity, it still doesn't count because you don't really know what you'll earn until you get that check on closing day. Feel free to argue all you want but it's true for financial planning purposes.[/quote] Okay let me get this straight. So if a couple has a paid off home valued at ~1.5 million in Arlington Virginia (which they bought because their jobs require them to be in the DC area and they wanted to be in a good school district) but plan to downsize to a condo in their hometown of Omaha once they have retired…that $1.5 million asset should have no bearing on their financial planning for retirement?[/quote]
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