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Infants, Toddlers, & Preschoolers
Reply to "S/O of dual income HHI thread - what's your net worth compared to your income?"
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[quote=Anonymous]Net worth does get complicated. I include about $350,000 of college savings in our net worth, but we start paying for college this year and 8 years from now that amount will be pretty much gone. Presumably we will be able to save quite a bit during the next 8 years since we won't have private school tuition anymore but our net worth has the potential to drop as we burn through this money. I tend to look at 4 categories: liquid assets (like cash or mutual funds that we can use anytime), college savings, retirement accounts, and real estate. The only debt we have is mortgage debt and I look at the net of market value of our houses (less 8% to cover commissions, taxes, etc) and loans. I do a separate section looking at what the kids would have if something happened to us so I include life insurance and survivor benefits in that. Our net worth is in the $3.5 million range (including the college savings). [/quote]
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