Reply to Networth as a multiple of your income

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Who even calculates this crap? We're 35, bought our first house 12yrs ago (thank God!) And have been maxing out 401k ever since. We keep cash reserves near 100k and that's about it.

Have no idea when we'll retire. 70 maybe? I'm not sure we're even the retiring types.[/quote]

People who started their 23rd year with large student loan debts and no help from parents for a down payment. Must be nice. [/quote]

No help from parents here which is exactly why i worked all through college to pay cash as I went.  That's why I did 2 years ad Northern VA community college and then transferred to UVA. I knew that in being financially on my own that I didn't have thr luxury to follow the same path as many of my peers. With community college, there really is no reason to carry around enormous debt loads.

Back 12yrs ago when I bought my first house (2002) there was no need for anything more than a 3% down payment. I do feel terrible for 23yr olds today. Housing here is impossible.[/quote]

Well it is good people are not doing low down payment highly leveraged loans like you did; your gamble worked out but three years later you could have rued that gamble (esp since Virginia is a recourse state).

The instate optiom worked well; I wish I had grown up in a state with an in-state university have as good as UVA, good choice [/quote]

True, but housing was so much lower back then. My nice home cost 300k and I could have rented it for the cost of mortgage, so even in the event of catastrophe,  we would have been fine, plus as 23, we rented the basement to a friend. Impossible now in today's world.[/quote]

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