Last day of the year, how much are you worth?

[Deleted]

I am worth more dead than alive but hey there is still hope... got to look on the bright side

We are both 25, combined income 95K.

As of today ( last day of the year and last paychecks have been deposit) I am worth - $ 183,698.28 and if I want to be anal about it and add the value of our cars per KBB ( I take the KBB value and deduct an extra 1,500 for each car to be on the conservative side) we are worth - $ 151, 198. 28.

Without the cars value - $ 150, 734.32 of the total amount constitute student loans and - $111,993.05 is my wife.

[Deleted]

Just because you are negative net worth that doesn't mean you are worth more dead than alive.

Your creditors get nothing if you are dead. But they get a piece of your future cash flows if you are alive.

So you are worth the present value of your future cash flows....


Doesn't that make you feel good?

[Deleted]

Dec 31, 2010 0:22:09 GMT -5 ArchietheDragon said:

Just because you are negative net worth that doesn't mean you are worth more dead than alive.

Your creditors get nothing if you are dead. But they get a piece of your future cash flows if you are alive.

So you are worth the present value of your future cash flows....


Doesn't that make you feel good?

True ;D

I guess I should say I am worth more dead than alive to my wife .
If I die tomorrow my wife gets 500K from my life insurance policy and another 100K from my job life insurance policy.

Let's not give her any ideas now

[jkscott]

Are you a lawyer? Those are some sick student loans.

Im worth $15k to start off the year.

[Small Biz Owner]

Somewhere around 400K.

[thyme4change]

Well, if it makes you feel any better, I'm worth around $400k and I'm still worth more dead than alive. Once you start buying huge life insurance policies, it is hard to overcome that. In fact, I can't even comfort myself with the logic in post 2 because the only debt in my name is our house - and even at bottom barrel prices we have equity - so my creditors will get theirs - future income or no.

For many, many, many years I was in your circumstances - I was worth at least "something" if I were dead - but alive - a big ol' negative. The good news is, if you keep your head down and keep plugging away, and keep making good decisions, it gets better.

[Small Biz Owner]

So why do you count your life insurance? I did not count mine for my net worth. I figure once I am dead my net worth will be zero.

[whoisjohngalt]

We just bought a house. The VERY conservative side of me wants to just include the mortgage amt, but, of course, I would have to include the value too. I just haven't decided on what "value" I will include - what we paid or the appraisal value.

Lena

[Deleted]

Dec 31, 2010 8:45:55 GMT -5 thyme4change said:

Well, if it makes you feel any better, I'm worth around $400k and I'm still worth more dead than alive. Once you start buying huge life insurance policies, it is hard to overcome that. In fact, I can't even comfort myself with the logic in post 2 because the only debt in my name is our house - and even at bottom barrel prices we have equity - so my creditors will get theirs - future income or no.

For many, many, many years I was in your circumstances - I was worth at least "something" if I were dead - but alive - a big ol' negative. The good news is, if you keep your head down and keep plugging away, and keep making good decisions, it gets better.

Wasting.. that's why I don't have any Life insurance.

[Small Biz Owner]

No life insurance? No dependents either?

[Deleted]

Dec 31, 2010 9:00:36 GMT -5 Small Biz Owner said:

No life insurance? No dependents either?

You mean moochers? yeah I have one of those.

[telephus44]

Somewhere around 100K, if I really scrape around and include everything (cars, cash value of the whole life policy my parents took out when I was a kid, etc). Next year I would like to be be $150K - that's a stretch for me, but doable. I plan on adding about 20K to my investments and paying off about 13K of debt.

DH and I are 32 and 36, have a house, and I paid off my student loans 8 years after I graduated. We make a combined 120K. Funny to think, in the 7 years we've been married we've gone from -$5K when we started to where we are now.

[thyme4change]

sbo = I don't count my life insurance in my net worth, but there is a reality that if I died today, my husband would get a pretty big check. Not retire forever money, but it will take us another 10 years at least to save up that much. Honestly, I don't think about much - but "worth more dead than alive" is a funny (sick, twisted funny) thing to say.

[suzwantstobefree]

I have a positive networth of about $17K. It would be a lot better if my homes were worth what they were when I bought them. However, I am proud of a positive net worth. Next year should be much better - contributions to my 401K are going up an extra 3% and I am saving more in my EF while paying down some debt (not much as it is primarily home mortgages with decent interest rates). I think I am better off then most of the people in the US though

[SVT]

-18k for me.

Yay!

[The J]

Probably about -$45k.

[Knee Deep in Water Chloe]

Ugghh....
-$275,000ish

not counting life insurance policies

[Deleted]

I'm at +170k if I add in the value of my home minus the mortgage plus my retirement accounts.

[Deleted]

Dec 31, 2010 8:48:16 GMT -5 Small Biz Owner said:

So why do you count your life insurance? I did not count mine for my net worth. I figure once I am dead my net worth will be zero.

I did not count my life insurance.

I just mention if I were to die, my would would get about 600K...
which would bring her net worth to over 400K overnight!

[Knee Deep in Water Chloe]

Dec 31, 2010 12:54:47 GMT -5 Ratchets said:

I just moved my keyboard and found a dime hidden under it. I doubled my net worth this year!
Edit: Seriously though, for the folks saying negative numbers I'm assuming most are younger so have student loans but not enough years at saving for retirement to offset them on the big balance sheet?

I am fairly young, I suppose, 31.
Student loans,
mortgage, house upside down
car loans, even though they were used @purchase

[Deleted]

Dec 31, 2010 12:54:47 GMT -5 Ratchets said:

Seriously though, for the folks saying negative numbers I'm assuming most are younger so have student loans but not enough years at saving for retirement to offset them on the big balance sheet?

In our case yes since the student loans account for more than half of our current debt!

[Poppet]

I am worth every penny.

Seriously? Maybe around 70K, but that's a guess.


Edited to say that a network calculator says dh and I are work 6 figures. It took into account face value of life insurance and cash value of pensions.

Hmm.

[Nazgul Girl]

I thought that I had already posted this, but can't find it, so here goes again. We just met with accountant and advisor guy this week, and were surprised to find out that our net worth is about $1m even with the downturn in the value of our real estate. We have one paid-for house which we rent out, and a lesser one which we live in, which has a mortgage. Ugh. We will have about $1.2m in various accounts by the time I retire in 7 years, if current conservative projections hold true. We were pleasantly surprised.

We have had some good news this month, also. It looks as if we are going to win our final court battle with the nutjob who has been suing my husband for the last ten or twelve years, and get a federal injunction against her continuing to maliciously sue him through the courts over her grudges and mental health issues. That' the way that the federal magistrate indicated the he was going to write his opinion for the federal judge ( which will be accepted by the judge, per what he said ). Also, even if she appeals it to federal appeals court, we will still prevail due to her being unable to overturn the doctrine of witness immunity. She's a very unique person.

Also, today, we just got the call that we have sold our Disney Vacation points at a fairly decent price to a cash buyer, and the closing will probably be by the end of January 2011.

So, we have a decent net worth, our debts from remodelling the office we had to foreclose on are paid off, our attorneys ( multiple ) are all paid off, we got rid of our Disney Vacation Club, I got a raise on my job, my husband's health is holding steady and not worsening, he has discovered the joys of cooking with a pressure cooker so we are saving money that way, and it looks like we may be done with the decade-long nightmare of continued lawsuits and screaming fests from the nutjob. Altogether a great, if arduous year.

[The J]

Dec 31, 2010 12:54:47 GMT -5 Ratchets said:

Edit: Seriously though, for the folks saying negative numbers I'm assuming most are younger so have student loans but not enough years at saving for retirement to offset them on the big balance sheet?

Yes. I'm 29. My student loans are over $100k still.

[WannabeWealthy]

Well, at least some of you are young. I'm 41 and net worth is only about $112k. The bright side is that I only have a mortgage to pay off now.

[dividend]

I'm worth $45,688.83..

I'm happy about that, and I hope to do even better in 2011.

[quotequeen]

$368k for DH and me.

[8 Bit WWBG]

Count me in the "worth more dead than alive" category as I am counting the mortgage, and owe about $20k more than the house is worth. Anything else is moot.

But I have a good feeling about 2011.

ETA: cawiau's avatar... cool.

[LlamaLlamaDuck]

Aaahhhh, prolly about $125K. Other people my age seem to be worth many more megamoolahs than I.

I did not start taking any of it seriously until I got a real job with bennies 3.5 years ago, even though I was always a good saver and lived within my means. I have probably tripled my net worth since then. Prepaying my uber low mortgage by $50 each month has helped.

[Deleted]

7k in the black! It's not a lot but it made me smile.