Haven't done a net worth thread in a while...

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Im 43. Have 200k in 401k and 60k cash. 150k in equity but been in the same house for 10 years now. Owe about 90k to pay it off. I think when I save enough in cash to pay er off I will. Have heard all the arguments for and against it but in the end, the idea of having no debt has great appeal to me. Then I can work for Home Depot and run the register and pay my bills.

I think the guy above is right about a setup though. I think the market will trend down for a while now that we have hit 10k. I am actually up this year 22% on the 401k but I will be selling out of a lot of the stuff that got me there soon....and going way conservative.

Good luck everyone.

The key is to figure out a way to fuck the government over on your tax bill. Also, re-negotiate your mortgage. If you have to quit paying for 90 or more days to get them to talk to you do it.

Credit doesn t mean shit anymore.

People who play by the rules now are chumps.
 






Retired 3 years ago after 28 years at this gig, which netted me a cool $1.5 million in savings and investments.

Sitting pretty
Enjoying my nightly Cohibas and brandy
Building vacation home in Bar Harbor, Me

No kids, no mortgage, no college debts, no credit card debts. Lease a new Benz every 3 years.

I feel sorry for those who will undoubtedly be shitcanned this year that you were not born a generation earlier. With the Dow going from 3K to 14K during my active investing years, all I had do do was sit back and watch the numbers. In fact I had to get a new TI calculator because my old one couldn't do the seven figure calculations my investments generated.
 






Had taken a hit during the downturn, but accounts are coming back a bit. Here is my info:


Age 45
Savings: $400K
Home: $180K in equity (after taking about $150K hit in equity and prices still dropping)
401K & IRA: $400K
 












Anonymous said:
Had taken a hit during the downturn, but accounts are coming back a bit. Here is my info:


Age 45
Savings: $400K
Home: $180K in equity (after taking about $150K hit in equity and prices still dropping)
401K & IRA: $400K
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Just curious....where do you keep all the money that you have in savings? My wife and I keep 6 months living expense in an e money market. It pays a pathetic .5%. Does anyone know of another place to keep emergency funds that you can get at least a little better return but still guarantee principal?

Thanks!
 






Anonymous said:
Just curious....where do you keep all the money that you have in savings? My wife and I keep 6 months living expense in an e money market. It pays a pathetic .5%. Does anyone know of another place to keep emergency funds that you can get at least a little better return but still guarantee principal?

Thanks!
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I have $75K in my ING account (1.3%), $125K in CD's at 4.5% interest (bought before rates dropped). The other $200K is in dividend paying stocks (blend of utility, telecommunications and food companies) giving me an average annual dividend of approximately 5.5%.


For emergency funds, it is hard to get much. Try something like the ING account or one of the online deals that have come up recently like Ally or American Express MM accounts.
 






31 Years in Pharma, age 56. 400k house will be paid off this year. 401K and savings total about 920K. I could have done alot better if I had used a good financial advisor. Keep saving, you need more then a million to retire.
 












Anonymous said:
Damn I'm doing poorly compared to you guys.

age 54
100K loan on a 350K house, so plenty of equity
401K: 450K
Savings: 30K
no other debt
paid cash for both kids college
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I am right where you are (age 53). The only difference is my home is almost paid for ($17K outstanding) and my daughter is in college now. We have the bulk of her costs paid for in a 529K. But our overall savings is almost exactly what yours is.

It just seems hard to get ahead anymore. We just found out our municipality is virtually broke and as a result, - a 4 mills increase was approved for 2010. And our RE/school taxes had already gone up 9% in 2009. It never ends.
At least we have our health!
 






You guys over 50 with only 400-500K$ in your 401K. Guys, you were in the market when the Dow went from 3000 to 14,000. You must have either been very conservative investors, or that your 401K went up to 600-700k$ and is back down tom 400k$ in this last recession.
 






Anonymous said:
You guys over 50 with only 400-500K$ in your 401K. Guys, you were in the market when the Dow went from 3000 to 14,000. You must have either been very conservative investors, or that your 401K went up to 600-700k$ and is back down tom 400k$ in this last recession.
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You don't have enough background info to make such a comment. I cared for an ailing parent for 9 years and was unable to contribute the max to a plan. Unfortunately, my wife has also been ill and it has been a constant battle to pay for out of network care, etc for the last 5 years. That's 14 years of less than average contributing. Add to that a bad return overall for stocks in the last 7 plus years, trying to save for college costs....and there you have it.

Since many others have found themselves in similar situations, I wouldn't be so sure something similar couldn't happen to you.
 


















Anonymous said:
You can retire with 850K if you live frugally (you can go to the early retirement website) but I believe the cost of Medical care will continue to rise and take a big chunk your paycheck. The decline of the dollar will also take a toll on your wallet and higher taxes are looming everywhere.
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ah come on. you're full of shit. The average american retires with maybe a $200k net worth, not to include the home they live in. Check the actual stats. The actual stats show that the average american HOME INCLUDED at retirement (65) has a net worth of maybe $200k. Probably even less now after the economic implosion. Many retire with even less. A whole shitload of americans are living on nothing but social security. You need to get out more and understand how the real world works. BTW, I'm trying to plan it so I use up all my savings and retirement at age 75 and then let the gobblement take care of me. Based on my health and family history I don't think I'll reach 80. I'm going to let you fuckers take care of me for my last 3-5 years as I've taken care of so many of your relatives. My dad taught me to 'die broke'. Probably the smartest advice I've ever received.
 






46 years old.

$720,000 in investment/savings accounts
$425,000 in retirement accounts
$100,000 in other assets
Home equity wiped out (horrible real estate market)

Total Net Worth of $1,245,000
 






39 with over 2 million liquid net worth…God Bless Roche buying DNA!!!!

FU big pharma, primary care haters!!!!! Go back to your sample inventory and scan cards UPS boy!!!! Oh I think you dropped your name tag....F'ing losers!!!
 






I won't reveal my age, but I'm old enough to own my 12x60 free and clear. Equity in the tens of dollars. I'm also hotter than anybody you know, but stay away or my wife will shoot your ass. My savings is safely stowed in used Starbucks coffee bags planted strategically in my yard. If I continue with this strategic investment plan, I'll have to drag my home to a bigger space. I don't want to move from Pair-a-Dice Park, I think I'll stop saving and start buy a new big screen tv. Oh, and that body part that gets mentioned a lot in previous posts...it's twice as big as everybody else's. No foreclosures here.
 






I actually posted this in another thread as part of a question I had....but here is my net worth statement:

1-Mar-10
Non-Taxable Accounts Amount
Wife IRA 21767
My 401K 55307
My IRA 40968
Wife 401K 45747
Total 163789

Taxable Accounts Amount
Money Market 35838
Scottrade 17903
Employee stock plan 10397
Savings 65102
Total 129240
Mortgage Liability 154949
Mortgage Payoff Amount 25709

Net Worth 293029

I'm 32, the wife is 27. I've been in device for 2 years, dual incomes, no kids. The plan is to get the house paid off, use it as a rental and move into something a little bigger. Use the income from the rental house to help pay down the new house faster. Been in the house for 6 years. It should be paid off in 4 months or so, but that will drain the majority of our cash.
 






Anonymous said:
Is your 401-k fully invested or are you in cash?

Thanks for being honest.

Few on this board are.

Everybody tries to impress the other guy and everyone is anonymous.

Fucking bizarre.
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I disagree. How pathetic would one be to post false information on an anonymous site?

What I find fucking bizarre are why people are so adamant that someone (again, on an ANONYMOUS) site is lying.
 






Anonymous said:
Shit, man! With money like that you could move to Zimbavwe and retire!
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How have people accumulated so much? I thought I've done all the rights things yet have nowhere near what others have.

I am 38 and I have about $220k in net worth.

I've always lived 20-30% below my means, always invested consistently and wisely. A financial adviser said I am doing extremely well for my age but from what I am reading on the board, I am not so sure.

Any thoughts (and please don't say all those who post high net worth numbers are simply lying)?
 






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