happytraveler
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Joined: Jan 1, 2011 8:07:07 GMT -5
Posts: 262
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Post by happytraveler on Jan 1, 2011 8:21:32 GMT -5
First post here--I typically do a net worth calculation every year in December, so I just got my numbers together. Including all of our financial assets and the equity in our house, DW and I have a combined net worth of about $1.5 million. We are pretty boring savers/investors---been dollar cost averaging into tax-deferred equity index funds for years (we are in our late 40's), and just recently paid off the mortgage. I know a lot of you recommend keeping a mortgage as a way to build wealth/ net worth, and I understand the concept, but we were content to go a different route. Paying off the house in 2010 has allowed us to significantly increase our current savings rate.
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Post by Savoir Faire-Demogague in NJ on Jan 1, 2011 9:21:15 GMT -5
Seven plus figures.
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Deleted
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Post by Deleted on Jan 1, 2011 11:15:55 GMT -5
DW and I are both 33 and have a net worth of 397k...I thought we would break 400k before the 1st of the year but just missed!  If I count my online poker account, we would be over 400k but that is just fun money so I don't. |
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2girlsdad
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Posts: 114
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Post by 2girlsdad on Jan 3, 2011 16:18:57 GMT -5
Alright, I posted on the other (closing) board but just signed up here. I also now have my year end numbers so ...... Me 43, DW 41. Total NW as of 12/31 ........ $1,732,000. Includes $350k home equity (under contract), all investments, savings including credit union accounts, and $109k in DD's 529 accounts (10 yo has $60k and 8yo has $49k).  |
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Kung Fu Panda
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Joined: Dec 20, 2010 11:41:07 GMT -5
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Post by Kung Fu Panda on Jan 3, 2011 16:39:09 GMT -5
I have to stop reading this board...very depressing... I am in my late 30s and This is my first year to be positive. I got married young, went to one income, gave her and the kids everything in the divorce, and have been paying off Debt for 3 years. 2011 I start with a net worth of about 5k. This includes vehicle value - loan.
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jk70
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Joined: Jan 3, 2011 16:39:57 GMT -5
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Post by jk70 on Jan 3, 2011 16:49:44 GMT -5
me: 40 and wife: 42..Net Worth hit $455k at the end of the year. All tied up in stocks and bonds  but mainly because we sold our house this summer (at a loss from purchase price but not underwater). Will be looking to seriously maximize $$ this year (or the future) by branching out into purchasing some rentals |
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Post by cytoglycerine on Jan 3, 2011 18:48:23 GMT -5
Just finished my year-end calculations and Hubby and I together (I don't keep track of our assets individually because it's irrelevant to me) have about $64,500 net in financial assets and about $52,500 net in non-financial assets for a combined total of ~$117,000...Wow!! I'm happy now! We're both 29, so I think we're doing pretty good so far |
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mesquite77
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Joined: Jan 3, 2011 21:25:13 GMT -5
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Post by mesquite77 on Jan 3, 2011 23:40:38 GMT -5
Hit $500k just before my 34th birthday - right on track for year 10 of a 30 yr plan of real estate investing, maxing roths and a 401k.
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Kung Fu Panda
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Post by Kung Fu Panda on Jan 4, 2011 9:12:24 GMT -5
Daphne: Thank you for the words, the kiddoes are happy, we have houses in the same town, so its all "friendly". 2011 will be the start of my investment year, my new job pays me what I am worth..finally, so my NW will grow by leaps and bounds..
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runewell
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Joined: Jan 3, 2011 15:37:33 GMT -5
Posts: 395
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Post by runewell on Jan 4, 2011 9:42:57 GMT -5
Almost exactly the same as quotequeeen, approximately $370K. I'll see my 40th birthday later in the year.
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Post by 4boyz1gurl on Jan 4, 2011 9:55:27 GMT -5
We have $550K not including home equity, cars, 529's.
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shanendoah
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Post by shanendoah on Jan 4, 2011 12:00:33 GMT -5
We're 35 & 36, net worth $53,722. (not counting DH's old 401(k)/IRA - I keep forgetting to have him get me that info.) I still have almost $50k in student loan debt, but its going down and retirement savings are going up (slowly, but getting there). I am not even sure we were in the positives at the start of last year- we paid off almost $29k in debt over the last year and grew our non-retirement savings by $6k (haven't looked to see old statements, so don't know what retirement savings grew by.) So that's $35k right there, and its all on one salary. Once DH starts working again (estimating in 2 years- he's going back to school starting tonight - no new student loans) it should go up significantly.
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Post by aprbrew244 on Jan 4, 2011 12:18:44 GMT -5
I'm 26 with a net worth of 105,000. Most of that is from the purchase of a foreclosure at 66% of its value. Although having no student loans helps as well. Sure would have been nice to increase the retirement accounts a little more over the past couple of years. Not to be mean but kinda hoping for a double dip for another buying opportunity:!
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parker1b2
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Joined: Jan 4, 2011 21:51:28 GMT -5
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Post by parker1b2 on Jan 4, 2011 22:00:57 GMT -5
140k age 33 DW is 32. Should be higher but currently paying $2019 a month on our mortgage. New member here but was reading the msn boards for a while.
Question for everyone: does my mortgage payment seem high? I have been reading boards and seems like everyone is paying under 1k for theirs. I bought a house for 325K in 2007 wich was a little over the average for my state at the time. If I was paying about 1K a month I would bea able to save alot more.
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quotequeen
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Post by quotequeen on Jan 4, 2011 23:46:19 GMT -5
140k age 33 DW is 32. Should be higher but currently paying $2019 a month on our mortgage. New member here but was reading the msn boards for a while. Question for everyone: does my mortgage payment seem high? I have been reading boards and seems like everyone is paying under 1k for theirs. I bought a house for 325K in 2007 wich was a little over the average for my state at the time. If I was paying about 1K a month I would bea able to save alot more. Depends entirely on your income and area of the country. It's lower than mine so it doesn't seem high to me.  |
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Post by boosmom on Jan 5, 2011 0:32:09 GMT -5
140k age 33 DW is 32. Should be higher but currently paying $2019 a month on our mortgage. New member here but was reading the msn boards for a while. Question for everyone: does my mortgage payment seem high? I have been reading boards and seems like everyone is paying under 1k for theirs. I bought a house for 325K in 2007 wich was a little over the average for my state at the time. If I was paying about 1K a month I would bea able to save alot more. I agree with quotequeen. If the median was around that price, then folks around you have similar mortgages. You can't compare your mortgage with folks that are in lower COLAs. Is that P&I or PITI? |
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Post by boosmom on Jan 5, 2011 0:33:19 GMT -5
mid-30s and our NW is 6.5 x annual gross income
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Post by kristi28 on Jan 5, 2011 1:05:58 GMT -5
I would guess that we are worth on the order of $500k. However, with the real estate, there is a large amount of guesswork in that number. I am 30-something and DH is 40-something.
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MN-Investor
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Post by MN-Investor on Jan 5, 2011 3:32:04 GMT -5
29.5% more that we were worth a year ago.  |
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Deleted
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Post by Deleted on Jan 5, 2011 9:55:11 GMT -5
mid-30s and our NW is 6.5 x annual gross income WOW!! Awesome! |
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thyme4change
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Post by thyme4change on Jan 5, 2011 10:10:27 GMT -5
Question for everyone: does my mortgage payment seem high? I have been reading boards and seems like everyone is paying under 1k for theirs. I bought a house for 325K in 2007 wich was a little over the average for my state at the time. If I was paying about 1K a month I would bea able to save alot more. Well, do you want to live in a house that you could buy for about half of what you bought yours for? Houses are lifestyle. Last night I found a condo on-line for $25k. I could save a lot of money if I lived there - but I don't want to live in a dilapitated 1-bedroom condo in a crime infested part of town. I'll keep the mortgage I have. |
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parker1b2
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Joined: Jan 4, 2011 21:51:28 GMT -5
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Post by parker1b2 on Jan 5, 2011 11:39:55 GMT -5
No PI, we put little over 20% and just refi last year. We bought the house in an area outside were we wanted to live due to property taxes were cheaper. I guess its the area, not expensive for my state but still expensive overall. thanks for the responses, we are just trying to really build up our networth and save as much as we can.
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Post by alsmez on Jan 5, 2011 11:58:31 GMT -5
We're 33 and 37 and NW is hovering around $350K, including estimated home equity of $150K. Hoping to hit the $400K mark by the end of the year.
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Max
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Joined: Jan 5, 2011 13:53:29 GMT -5
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Post by Max on Jan 5, 2011 15:43:52 GMT -5
DW and I are both 38. Just passed $1m, including home equity. I haven't told DW yet - I'm afraid she might off me. Actually, she doesn't really care, bless her heart.
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Post by boosmom on Jan 5, 2011 15:57:13 GMT -5
mid-30s and our NW is 6.5 x annual gross income WOW!! Awesome! So, where's my karma? kidding |
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Post by boosmom on Jan 5, 2011 16:03:20 GMT -5
No PI, we put little over 20% and just refi last year. We bought the house in an area outside were we wanted to live due to property taxes were cheaper. I guess its the area, not expensive for my state but still expensive overall. thanks for the responses, we are just trying to really build up our networth and save as much as we can. If the regional market is sustaining the current prices, then just keep at it and be glad you're not underwater. Same here, there's been a small dip, but the prices have remained pretty high. |
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Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
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Post by Wisconsin Beth on Jan 5, 2011 16:21:58 GMT -5
140k age 33 DW is 32. Should be higher but currently paying $2019 a month on our mortgage. New member here but was reading the msn boards for a while. Question for everyone: does my mortgage payment seem high? I have been reading boards and seems like everyone is paying under 1k for theirs. I bought a house for 325K in 2007 wich was a little over the average for my state at the time. If I was paying about 1K a month I would bea able to save alot more. I agree with quotequeen. If the median was around that price, then folks around you have similar mortgages. You can't compare your mortgage with folks that are in lower COLAs. Is that P&I or PITI? Before DH refi'd in 2004, the mortgage payment w/ escrow was just under $1K. After the refi and killing off the escrow, it's $470. It really depends on your location, your rates and your COLAs. |
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Post by boosmom on Jan 5, 2011 16:26:55 GMT -5
beth -  We can only dream! $25K for a condo -- I saw a guy selling a parking space in a nice condo for more than that. Don't know if anyone bought it though. |
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Wisconsin Beth
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No, we don't walk away. But when we're holding on to something precious, we run.
Joined: Dec 20, 2010 11:59:36 GMT -5
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Post by Wisconsin Beth on Jan 5, 2011 16:29:23 GMT -5
networth, hmmm, I know we owe about $86K on the house, land, HELOC and cars. So doing some very basic math, we're at 81K not counting retirement stuff. If we add in the retirement stuff we're at $331K not counting my pension (how would you count for a pension in your networth anyway?) This isn't exact though. I'd guess the under/over is about $5K if we're counting the retirement funds and maybe $500 if we're not.
DH and I are 41 and 40 and have 2 toddlers. No student loans and combined income is about $100,000.
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Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
Joined: Dec 20, 2010 11:59:36 GMT -5
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Post by Wisconsin Beth on Jan 5, 2011 16:31:14 GMT -5
beth - We can only dream! $25K for a condo -- I saw a guy selling a parking space in a nice condo for more than that. Don't know if anyone bought it though. It's a 4 bedroom, 1.5 bath ranch of about 1300sf. Sadly, it's on an alley and a small (by my standards) lot. |
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We can only dream!