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Net worth

lord of pensions and pilsner wrote:

Hey igor555.

I’m still bullish on global economic growth and earnings, so I am a buyer (of stocks) in this market. I am confident that recession is not a near-term likelihood, nor are bond yields yet a threat to the market’s earnings yield, so there is room to run for stocks in a positive direction in the US and overseas (naturally I reassess this regularly). 

On upstate New York, which is a place I love, if your house(s) are for your lifestyle and not speculation–and house(s) should be for your lifestyle, not speculation–then the real estate market is irrelevant. Also, when you own your house(s) with cash and also have a higher net worth including financial assets, it is a good feeling. Some in this forum have extolled a very rational preference to retain debt; they are very unlike me (i.e., not truly wealthy).

which stocks are you buying?

"You want a quote? Haven’t I written enough already???"

RIP

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He has a house in Westchester. That adds a lot of credibility.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

ohai wrote:

He has a house in Westchester. That adds a lot of credibility.

who else lives in Westchester? 

Be yourself. The world worships the original.

https://www.bogleheads.org/forum/viewtopic.php?f=2&t=260199

Good news–we’re not the only confused group in the world. 

82 > 87
Simple math.

lord of pensions and pilsner wrote:

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?

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!

It ain't what you don't know that gets you in trouble. It's what you know for sure that just ain't so.

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?

TrackSuitInvestor wrote:

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!

lord of pensions and pilsner wrote:

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

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?

Sweep the Leg wrote:

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. 

If you're the first out the door, that's not called panicking

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

I love my cheese. I got to have my cheddar.

landy5277 wrote:

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.

not too shabby

Nerdyblop wrote:

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

WOW so amazing. wih sp500 up 30% going from 300k to 400k is wonderful.

can you plz advice how to grow net worth? tnk

"You want a quote? Haven’t I written enough already???"

RIP

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.

I love my cheese. I got to have my cheddar.