WIR Net Worth Board

[shanendoah]

There's been talk on both the Savers and the Racers boards (I think I'm remembering this correctly) about wanting to do a Net Worth thread. Since I was updating mine today, I figured I would start it.
This does not include my husband's retirement account, because I don't have access to it right now.
Not super impressive, given my age (43). At the same time, I am probably only half-way through my earning life, and definitely entering the years of larger contributions to retirement accounts, so it should more than double in the coming years.

Age: Shanendoah- 43 (44 in Dec); C-45
Income: ~$130k/yr (combined)


Mortgage: $517,539
Debts Total: $517,539

Savings: $5,463
Retirement Accounts: $177,275
House: $676,937
Timeshare: $1,500
Car: $3,100
Assets Total: $872,650

Net Worth: $355,111

[nikiz628]

Thanks for getting this started!

[Deleted]

Hmmmm....I apparently forgot to update Networthshare for October so had to do some quick calcs.

Age - 50
Income - 40-60K depending on if we're counting child support.  

Mortgage - $103,509
Credit Cards - $8,800 (first debt I've carried besides my mortgage in 15 years and I'm not happy about it...at least it's 0%...paying off in April)

Total Debt - $112,309

Savings - $41,742
529s - $56,979 (thankfully there is UTMA money too that I'm not counting)
Retirement - $485,077
House - $300,000 (no idea...that's around build price in 2000).

Total Assets - $883,798

Net Worth - $771489



It seems like a lot, yet so little at the same time...

[countrygirl2]

We are retired

Rentals $280k to $300k?

Our house $300k in it, resale that much I would hope
Liquid $49k
Invested $700k, its going down with RMD withdrawals
We have over $100k in vehicles, trailers, motorhome, etc but not adding these
in

Debt none

Net worth around $1.3M

[shanendoah]

minnesotapaintlady - I think you're doing amazing. For my house value, I average the Redfin and the Zillow estimates. Since both are Seattle based, they tend to be fairly accurate.

countrygirl2 - You guys did a great job planning for retirement.

[Rukh O'Rorke]

Roths                                 $107,799.04
401k and Rollovers              $540,848.38
Other: EF, ESOP, HSA             $23,630.13

House Value                        $509,343.00

Total Assets                    $1,181,620.55


Mortgage                            $250,174.54
Stdt and Pers Loans             $115,221.31

Total Liabilities                 $365,395.85

Net Worth                         $816,224.70

[Rukh O'Rorke]

Oct 23, 2019 23:28:08 GMT -5 minnesotapaintlady said:

Hmmmm....I apparently forgot to update Networthshare for October so had to do some quick calcs.

Mortgage - $103,509
Credit Cards - $8,800 (first debt I've carried besides my mortgage in 15 years and I'm not happy about it...at least it's 0%...paying off in April)

Total Debt - $112,309

Savings - $41,742
529s - $56,979 (thankfully there is UTMA money too that I'm not counting)
Retirement - $485,077
House - $300,000 (no idea...that's around build price in 2000).

Total Assets - $883,798

Net Worth - $771489



It seems like a lot, yet so little at the same time...

You've really done such an amazing job - I'm a bit ashamed of myself, really.

[Rukh O'Rorke]

Oct 26, 2019 12:03:45 GMT -5 Rukh O'Rorke said:

Roths                                 $107,799.04
401k and Rollovers              $540,848.38
Other: EF, ESOP, HSA            $23,630.13

House Value                        $509,343.00

Total Assets                    $1,181,620.55


Mortgage                            $250,174.54
Stdt and Pers Loans             $115,221.31

Total Liabilities                 $365,395.85

Net Worth                         $816,224.70

So - for my reflection/narrative...


None of these numbers here are a surprise to me of course, I haven't been tracking net worth per se, but I do check in on account balances fairly regularly. And while I'm not having a panic attack or anything over these numbers, it is a bit disappointing considering how old I am.

I'll have to reflect on my mixed emotions here, and plot my path forward.....

[Rukh O'Rorke]

So - what is the plan here networthers?

How frequently will we update? Monthly might be overkill - but maybe that will be more motivational? Unless the market is reaming us, of course....

Quarterly? Annually? Only when the market is up?

[Deleted]

Oct 26, 2019 12:07:34 GMT -5 Rukh O'Rorke said:

Oct 23, 2019 23:28:08 GMT -5 minnesotapaintlady said:

You've really done such an amazing job - I'm a bit ashamed of myself, really.

Thank you.  Savings is good, but my income sucks.  I've been working for the same company for 25 years and still only making $19/hour, so not exactly a go-getter in the career department.    

I'm also going to be in bad shape for awhile since child support ends in 8 months and that was basically making my house payment.  My plan is just to spend down savings for a couple years to make up for it, then maybe pay it off with Roth contributions or scale my retirement savings WAAAAY back.  Right now I have to keep contributing a ton to keep DS eligible for the Pell and state grants for school.  

I have been tracking monthly with networthshare.com since 2012 and it is really cool to look at the monthly fluctuations in a spreadsheet format.  

[CCL]

You all are doing great!

[seriousthistime]

I like the idea of this thread.  I think I'm just embarrassed to post numbers, especially since I'm so close to retirement.  BUT - I do have several sources of income in retirement (pension, SS, etc.) that I could convert to a "net worth" number. 

I now collect SS as a divorced spouse, which allows my own SS to grow. You all probably know you can go into the SS website and see your earnings and projected SS at age 62, your full retirement age, and at 70.  Well, when you collect on a spouse's account, you are deferring your own benefit and allowing it to grow, but your own projections disappear so I'm shooting in the dark on this. SSA has a couple of retirement calculators and apparently one is the most accurate but it has to be downloaded to your computer and it does not work well on a Mac. At least I have ballpark numbers though.

Let me think about this. 

[forwardwego]

shanendoah Thanks for starting this thread. And thanks to Rukh O'Rorke and others who chatted it up to get the idea rolling.

I'm in, and will be back to read more thoroughly and post after I get organized. My hope is that this will open my eyes on how spending can sabotage net worth. I have always thought of spending too narrowly. Before joining WIR (3/21/2010) it was sad... I thought in terms of being able to make the payments. And then we'd buy. I/we have made a lot of progress since then. And still there's a struggle. With DH and with myself. 

Happy hump day my fellow Net Worthers. With time a better nick name will probably emerge 

[Lizard Queen]

Someday, I might do an accurate one, but a quick and dirty calc my husband did not too long ago put us at $600k. Ever since, he hasn't been as enthused about my working where I am. He'd prefer I get a job closer to home, and having me coming home less stressed (aka, bitchy). I tried to tell him before the job that we weren't in too bad of shape. I mean, if I had worked straight through those years we would have been way ahead of where we are now, but that's water under the bridge.

[myrrh]

Nov 9, 2019 13:15:53 GMT -5 seriousthistime said:

I like the idea of this thread.  I think I'm just embarrassed to post numbers, especially since I'm so close to retirement.  BUT - I do have several sources of income in retirement (pension, SS, etc.) that I could convert to a "net worth" number. 

I now collect SS as a divorced spouse, which allows my own SS to grow. You all probably know you can go into the SS website and see your earnings and projected SS at age 62, your full retirement age, and at 70.  Well, when you collect on a spouse's account, you are deferring your own benefit and allowing it to grow, but your own projections disappear so I'm shooting in the dark on this. SSA has a couple of retirement calculators and apparently one is the most accurate but it has to be downloaded to your computer and it does not work well on a Mac. At least I have ballpark numbers though.

Let me think about this. 

Hi seriousthistime, neurosphere on the bogleheads forum has a Social Security excel spreadsheet that might be useful to you.
www.bogleheads.org/forum/viewtopic.php?f=2&t=262772

Oh. I guess that means I might participate in the net worth thread?
I'll just count my own investments since that's what I can easily track. After I update this month, lol.

[myrrh]

Roth: $125,197
457 + TIRA: $123,423
Taxable: $46,624
Total: $295,244

I'm not counting the 529's.
So close to 300k. If I count the e-fund it's over! Ha.

[cktc]

Savings                                $12,605
IRA                                      $75,545
DH 401k                              $49,258
Market Account                   $10,526
House Value                       $335,542
Total Assets                       $483,476





Mortgage                            $242,061
Car Loan                                $7,449
Total Liabilities                 $249,510



Net Worth                          $233,966

[steph08]

Well, that didn't turn out nearly as bad as I thought. These are fairly accurate estimates.

Retirement (me): 130,000
House Value: 200,000
Land Value: 30,000
Car Values: 20,000
Savings: 10,000


Mortgage: 133,000
Truck Loan: 9,500
HELOC: 24,000
CC: 7,000


Net Worth: 217,500


This doesn't include DH's pension - not sure of the exact dollar value.

Edit:

Ages - 34 (me), 40 (DH)
Income - 70k (me), 55k (DH) - these are recent changes; less than 3 years ago, we were around 90k combined. 
I'll update quarterly probably, so after the first of the year. I'll do actual numbers then, plus break down rollover IRA vs 401k, etc. 

[seriousthistime]

Artemis Windsong,

www.factcheck.org/2015/06/where-does-clinton-foundation-money-go/

It is not the kind of charity that has the primary purpose of collecting donations to give out grants to people and organizations that do good works.   The Clinton Foundation collects donations and does good works directly through its employees and direct spending instead of giving grants to other organizations that do good works.  Lots of charitable organizations work this way.

www.charitynavigator.org/index.cfm?bay=search.summary&orgid=16680

Charity Navigator gives the Clinton Foundation 4 stars, with 86% of its expenses going toward the programs and services it delivers.  Charity Navigator bases this on the organization's IRS 990 form. (i.e., a tax return for a charitable organization).

[gs11rmb]

Nov 13, 2019 21:12:28 GMT -5 Artemis Windsong said:

Anyone google the Bill, Hillary and Chelsea Clinton Foundation charitable disclosure? This is real. You can check the return yourself (see below -Google it).

The real heart of the Clintons can be seen here. Staggering but not surprising. The below figures are from an official copy of the Bill, Hillary and Chelsea Clinton Foundation tax return for 2014, found on the National Center for Charitable Statistics web site. You can obtain the latest tax return on any charitable organization there.

The Clinton Foundation:


Number of Employees (line 5) 486
Total revenue (line 12) $177,804,612.00
Total grants to charity (line 13) $5,160,385.00 (this is less than 3%)

Total expenses: $91,281,145.00
Expenses include:

Salaries (line 15) $34,838,106.00

Fund raising fees (line 16a) $850,803.00
Other expenses (line 17) $50,431,851.00

Travel $8,000,000.00

Meetings $12,000,000.00

Net assets/fund balances (line 22) $332,471,349.00

So it required 486 people, who were paid $34.8 million, plus $91.3 million in fees and expenses, to give away $5.1 MILLION! And they called this a CHARITY?

This is one of the greatest white-collar crimes ever committed. And just think, one of the participants was a former President of the US and one wanted to be elected President of the United States. If justice was truly served, they would both be in prison.

I think you're rather confused about how the Foundation operates... or blinded by your loathing of the Clintons  .  In addition to a four star rating from Charity Navigator it also has a "Platinum" rating from Guidestar and an "A" from The American Institute of Philanthropy's Charity Watch.

[steph08]

This really isn't an appropriate thread to post this, Artemis Windsong. Go over to the Politics board if you want to talk about the Clintons. 

Over here, we are all just regular people trying to improve our place in the world.

This has really angered me.

[shanendoah]

I am also going to ask that this thread be kept on topic. Artemis Windsong, please delete your post about the Clinton Foundation. It has no place in a thread about the net worth of WIR Members. Because even if one of us was secretly a Clinton, the Foundation is a separate entity, and its assets wouldn't be considered part of the person's net worth.

[nikiz628]

Nov 14, 2019 9:28:43 GMT -5 steph08 said:

This really isn't an appropriate thread to post this, Artemis Windsong . Go over to the Politics board if you want to talk about the Clintons. 

Over here, we are all just regular people trying to improve our place in the world.

This has really angered me.

This. I read the post several times trying to figure out WHY it was posted on this thread/board. I thought maybe I missed a point in it. Nope. 

[seriousthistime]

Nov 14, 2019 9:28:43 GMT -5 steph08 said:

This really isn't an appropriate thread to post this, Artemis Windsong . Go over to the Politics board if you want to talk about the Clintons. 

Over here, we are all just regular people trying to improve our place in the world.

This has really angered me.

Well said.  

If Artemis Windsong deletes her post, I will be glad to delete my post that responded to hers.  I have no interest in following her to the Politics board. 

[gs11rmb]

How do you calculate the value of a pension?  I know how much money my DH is likely to receive via two different pensions but not how to place an overall value.  Do I just sum up the annual payments multiplied by life expectancy?

[cktc]

Nov 14, 2019 11:27:51 GMT -5 gs11rmb said:

How do you calculate the value of a pension?  I know how much money my DH is likely to receive via two different pensions but not how to place an overall value.  Do I just sum up the annual payments multiplied by life expectancy?

This seems like a simple way to value it, every $100/month = $18,000

retirehappy.ca/how-much-do-you-think-your-pension-is/

[gs11rmb]

Nov 14, 2019 11:35:56 GMT -5 cktc said:

Nov 14, 2019 11:27:51 GMT -5 gs11rmb said:

How do you calculate the value of a pension?  I know how much money my DH is likely to receive via two different pensions but not how to place an overall value.  Do I just sum up the annual payments multiplied by life expectancy?

This seems like a simple way to value it, every $100/month = $18,000

retirehappy.ca/how-much-do-you-think-your-pension-is/

I tried that link and this one:  www.financialsamurai.com/how-do-i-calculate-the-value-of-my-pension/

The first gave a value of $1.5M and the second of $2.9M... that's quite a difference!

[cktc]

Nov 14, 2019 11:42:57 GMT -5 gs11rmb said:

Nov 14, 2019 11:35:56 GMT -5 cktc said:

This seems like a simple way to value it, every $100/month = $18,000

retirehappy.ca/how-much-do-you-think-your-pension-is/

I tried that link and this one:  www.financialsamurai.com/how-do-i-calculate-the-value-of-my-pension/

The first gave a value of $1.5M and the second of $2.9M... that's quite a difference!

I'd go with the lower value. I'm trying to calculate what DH's military pension will be and my head is about to explode with these calculators. Last year they introduced new plans to convert their pensions to something more like a 401k, DH opted out but he has 5 more years until he is eligible to retire and another 20-30 until he can collect. If he dies before that it has no value. At this point it's not even going to enter our retirement calculations, it'll just be a bonus for travel or gifting if it doesn't somehow go poof.

[Artemis Windsong]

Nov 13, 2019 22:26:38 GMT -5 seriousthistime said:

Artemis Windsong ,

www.factcheck.org/2015/06/where-does-clinton-foundation-money-go/

It is not the kind of charity that has the primary purpose of collecting donations to give out grants to people and organizations that do good works.   The Clinton Foundation collects donations and does good works directly through its employees and direct spending instead of giving grants to other organizations that do good works.  Lots of charitable organizations work this way.

www.charitynavigator.org/index.cfm?bay=search.summary&orgid=16680

Charity Navigator gives the Clinton Foundation 4 stars, with 86% of its expenses going toward the programs and services it delivers.  Charity Navigator bases this on the organization's IRS 990 form. (i.e., a tax return for a charitable organization).

My net worth would be a lot higher if I were on their payroll.

[Lizard Queen]

Nov 14, 2019 11:27:51 GMT -5 gs11rmb said:

How do you calculate the value of a pension?  I know how much money my DH is likely to receive via two different pensions but not how to place an overall value.  Do I just sum up the annual payments multiplied by life expectancy?

You would calculate the present value of an income stream as of the retirement date, then you would discount that lump sum to the present day (taking inflation into account).

Using an online calculator would be easier.