Reply to What is your net worth? I'm excited to reach zero!

Forum Index » Money and Finances

Reply to "What is your net worth? I'm excited to reach zero!"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Some of these net worths don't make sense.  Use this calculator to correctly determine net worth (you gotta include all your debt):

http://cgi.money.cnn.com/tools/networth/networth.html[/quote]

According to this calculator we are at +$180K; mid to late 30's.  That's about to go up after we sell our house.  Sweet![/quote]

Your net worth should not increase when you sell your house. [/quote]

Why?  I'm making a fair amount of equity and moving to a much lower COL area.  The math works out in my favor.[/quote]

You don't know what net worth means. [/quote]
Please use your words oh wise one.  [/quote]

Your net worth is your assets less your liabilities. Suppose you have a house worth $1 million with a $0.5 million mortgage. Your home equity's contribution to your net worth is 0.5 million - the home value less mortgage.  Now suppose you sell the house. Your mortgage goes to zero and you have $0.5 million left. Your net worth is unchanged.[/quote]

Not the quoted PP, but our net worth would also go up if we sold our house: we owe 400k on our house and have 250k in retirement assets, therefore our current net worth is -150k.  If we sold our house, we could get 450k based on comparable sales in the past month.  Our net worth would then go up to 300k.  Of course, if we immediately bought another house we'd be in the same position, but PP didn't say that.[/quote]
Your net with is already 300k. [/quote]

LOL, seriously. How is this so hard for people???[/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