ohai: my net worth when I posted (EXCLUDING houses, of which I own two, outright with no mortgages) was $1.5m…
What is your net worth, ohai?
which stocks are you buying?
He has a house in Westchester. That adds a lot of credibility.
who else lives in Westchester?
https://www.bogleheads.org/forum/viewtopic.php?f=2&t=260199
Good news–we’re not the only confused group in the world.
Ohai, you gonna leave it like that? He is calling you out for 1v1 in High Net Worth Bracket. When is weight in?
My 2 cents: Net worth is more or less useless measure to measure one’s wealth. To give an accurate picture of one’s wealth, the ratio of net worth/annual expenses should be calculated.
If your avg.annual spending is $5m per year and your net worth is currently $3m, I consider you poor, regardless of your high net worth.
If your avg.annual spending is $30k per year and your net worth is currently $1m, I consider you rich (and financially independent), regardless of you lower net worth.
As with so many other things in life, it’s a matter of perspective!
I usually exclude real estate (my primary residence and my vacation home–which I own outright–because they are consumption not investment) from my asset allocation. As a result I am and have been 100% allocated to equities. This has helped me increase my net worth to approx $2mil. Many investors do not have the stomach for that much risk, right?
less than a year ago it was 1.5m now you are at 2m already,
this man is the living proof of that 3/3 18months means superior results guaranteed
1 Like
That is some fairly high net worth. I am still around the 900k mark. We have a lot of work to do to get as financially stable as you hahah. But in all seriousness I know that I am better off then most people. I know that my net is good and people always envy me. But like any Financial Analyst I have been working a lot to have a strong financial position. I just recently decided to calculate my personal net worth, (if you are new to it and want to do it at home you can use this article as a reference: https://www.juststartinvesting.com/how-to-calculate-net-worth/) and it was bigger than I expected. I still need to work but it’s fine. I am happy where I am now.
How do you all account for happiness in your net worth equation?
Good question. If you measure your net worth just based on your financial assets, someone with a high-paying job but miserable life is better off than a guy who makes much less but is content. Funny that I stumbled upon this question today. I just found out that I’m most likely going to be in a position this spring where I have to choose between a job with lower pay, less responsibility but a very high happiness-score + good work/life balance and a job with higher pay, a lot of responsibility and unreal career prospects, but which would force me to keep living a life that I don’t enjoy in a city that I don’t enjoy. Quite the quandary.
Currently close to 440k. Grew my net worth by about 100k last year. And the best part is none of that was taxed. Someone had to make 150k and 200k to increase their net worth by that amount. Money compounds like no other. Tax avoidance my dudes
not too shabby
WOW so amazing. wih sp500 up 30% going from 300k to 400k is wonderful.
can you plz advice how to grow net worth? tnk
lol. im not saying my performance beat the market. i was saying that passive income generates more income than active income mostly due to taxes. anyways i think everyone is underperforming indexes. its really quite sad, but a bull market for 11 years will do that. its important to note that by design, indexes purchase the most expensive companies, so naturally if the market rises they just push up already expnesive companies even further.
but to answer your main question, the best way to grow your net worth is tax avoidance. defer it to the very end. this is why real estate and finance people are ballers.
Bump.
Your primary residence should be included in net-worth. Any equity that belongs to you is a part of your net-worth.
The problem is the word “net-worth.” It makes people feel as if their personal human worth is dictated by their finances/cash. It’s not. So lets get that out of the way.
The people that are arguing that a primary residence shouldn’t be calculated in NW may have deep seated insecurity regarding their own assets. Instead of being jealous/hating. This is the perfect forum to discuss how to improve from other professionals.
What better forum could you be in where everybody is literally finance expert? The concentration of financial intelligence here is a perfect opportunity to learn from each other. Use this valuable and objective resource.
It’s an anonymous forum and like the GorillaNerd suggested, people should be more open and casual about conversation. The GorillaNerd has the right attitude and is going to go far in life.
finally i am recognized. lol. interesting that the last post was feb 2020. march 2020 was when the market crashed 35% before it hit the bottom within a month. it really tested whether you were made for markets if you bought the dip. my net worth crashed to about 325k. i had a huge cash position going into the crash about 20%. i bought all the way down incrementally every 5% at 2.5% of portfolio. until my net of debt was like 7k. at the very bottom i hesitated cuz my fiance said u dont know waht ur doing and ur gambling everything. i was planning to go options mode around the 3 month level. in any case i did not due to liquidity concerns. irrespective my net worth today sits at around 613k. i have about 115k in cash. due to b school expenses. i am pushing my million dollar goal to 37/38
im a buy and hold. id say half my net worth is in an index (not by choice but due to 401k). and 25% in individual stocks. but yea, im not really a fan of market timing. its hurt me far more. i do it because i cant help myself cuz im a wussy. most of what i do is pretty scalable too. i am more concerned with high win rates that outlandish returns in small cap.
anyway my short term goal is 1m at 37ish. but yea very likely i can reach 20m at 57, with current assumptions…