Reply to What's your net worth?

Forum Index » Money and Finances

Reply to "What's your net worth?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Assets minus liabilities.  Include home equity.  Don't include value of expected pension.  And don't lie or exaggerate.  No reason to.  This is an anonymous forum! [/quote]

$9.5M; 60/55; Does not include home equity. Unless you live in a downsizeable home (i.e. live in a $5 mil house when you could get by in a 1.5 mil home) pointless to include, despite what all the "that's what the definition says" pedantic idiots say.[/quote]

Most people can/could "downsize" if they truly needed to.  Also, when you are 75-80+, you might prefer to rent rather than have to deal with maintenance/repairs/shoveling snow/etc.  And even in expensive areas, you can rent a 1 bedroom place for ~$2-3K/month.  When you factor in taxes/repairs/maintenance/etc, it most often is more expensive to own than rent. If you are out of money, then you downsize and live more affordably. 
[/quote]

To that point, we have millions tied up in home equity, and we're not going to die in this house, as it has multiple levels and is a pain to maintain, so ignoring it would be bad planning.  [/quote]

Yup!!! You must have a plan for where you can live once mobility becomes an issue.  Maintaining a home is a pain, unless you can afford to outsource it all, it's nicer to live in a condo/TH where maintenance is someone else's responsibility [/quote]

Unless its an elevator TH, that is very unwise to buy it for retirement. Most townhouses dont have 1st floor bedrooms. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics