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what's your net worth? how old are you?

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hard to say bc nailing down a value on my property is tough. if the latest estimate i saw is correct, i am 75k upside down on my loans for now.
 
Originally posted by: alkemyst
Originally posted by: meltdown75
tell me why on earth i'd share this on a web forum 😕

+1 for BlahBlah, the epic thread starter of ATOT
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why would your's matter though...why are you so scared of 'online'?
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what the fuck are you talking about? fuck off.
 
Originally posted by: vi edit
How do loans really count to/against your net worth?

Take a car for example. Say the car has a trade in value of $8,000, and you loan balance is $8,000. Is that a net value impact of zero? Or are you still getting dinged $8000 for the loan balance?

Same for a house. If you house is appraised at $250,000 and you have a loan for $200,000, then do I have a net worth increase of $50,000?
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Yes
 
Originally posted by: LS8
Originally posted by: acheron
I don't know, and given that the value of my condo has been going down faster than a drunk sorority girl, it would be depressing to figure it out.
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Yeah. I moved out of the condo I was renting in 2007. The owner had bought it in late 2005 for $375,000. I was looking on Realtor.Com and condos in the same community, same floor-plan as the one I was renting are now being sold for $75-100k depending on upgrades. Ouch.
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so he lost $300k? where is this market?
 
Originally posted by: mugs
Originally posted by: scorp00
30k at 26. With the rediculous tax rates single people making decent money have to pay it's real easy to put extra into a 401k for an immediate 50% return.
Click to expand...

Married people making decent money have the same rates... married people pay less if one spouse makes substantially less (or no) money than the other spouse, but then you're basically supporting two or more people with one income...
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If I married someone who didn't work I would pay half as much in taxes and that's taxes for 2 people. So 20k in taxes for the single guy and 5k for the married guy plus 5k for his wife. Have a few kids and you pay less. I'm sick of paying 10's of thousands while 50% of the country pays nothing. Why can't everyone chip in equally?
 
technically, around $40k.

just about all of that is frozen solid for the foreseeable future, so in reality -$150 and sinking. I guess if I sold everything I own I could probably be in at around $1k.
 
Originally posted by: scorp00
Originally posted by: mugs
Originally posted by: scorp00
30k at 26. With the rediculous tax rates single people making decent money have to pay it's real easy to put extra into a 401k for an immediate 50% return.
Click to expand...

Married people making decent money have the same rates... married people pay less if one spouse makes substantially less (or no) money than the other spouse, but then you're basically supporting two or more people with one income...
Click to expand...

If I married someone who didn't work I would pay half as much in taxes and that's taxes for 2 people. So 20k in taxes for the single guy and 5k for the married guy plus 5k for his wife. Have a few kids and you pay less. I'm sick of paying 10's of thousands while 50% of the country pays nothing. Why can't everyone chip in equally?
Click to expand...

Yeah, but kids cost far more than the tax break you get from having them. Supporting a spouse who doesn't work on one income could also cost more than the tax break you would get.

It's like spending $1.00 to save $0.25, when you otherwise wouldn't have spent that dollar in the first place.
 
I'm 24, I have a shit load of student loans, and I don't own a house. I'd estimate something like -40k, but I don't know the exact value of my assets. I make plenty of money though so I'm ok.
 
Originally posted by: BlahBlahYouToo
Originally posted by: LS8
Originally posted by: acheron
I don't know, and given that the value of my condo has been going down faster than a drunk sorority girl, it would be depressing to figure it out.
Click to expand...

Yeah. I moved out of the condo I was renting in 2007. The owner had bought it in late 2005 for $375,000. I was looking on Realtor.Com and condos in the same community, same floor-plan as the one I was renting are now being sold for $75-100k depending on upgrades. Ouch.
Click to expand...

so he lost $300k? where is this market?
Click to expand...

Palm Beach County is one like this. I bought a modest home last year and lost $80k, some of our new homes from the company I work for were selling for $1.2M last year and now reduced to $500-700k...

 
I'm 37 and worth -$65865 after loans, mortgage, debits, investments, and savings. Woot!

I've got $250K in life insurance though, so I'm good.
 
Originally posted by: alkemyst
Originally posted by: meltdown75
tell me why on earth i'd share this on a web forum 😕

+1 for BlahBlah, the epic thread starter of ATOT
Click to expand...

why would your's matter though...why are you so scared of 'online'?
Click to expand...

LOL, old people.
 
Originally posted by: scorp00
Originally posted by: mugs
Originally posted by: scorp00
30k at 26. With the rediculous tax rates single people making decent money have to pay it's real easy to put extra into a 401k for an immediate 50% return.
Click to expand...

Married people making decent money have the same rates... married people pay less if one spouse makes substantially less (or no) money than the other spouse, but then you're basically supporting two or more people with one income...
Click to expand...

If I married someone who didn't work I would pay half as much in taxes and that's taxes for 2 people. So 20k in taxes for the single guy and 5k for the married guy plus 5k for his wife. Have a few kids and you pay less. I'm sick of paying 10's of thousands while 50% of the country pays nothing. Why can't everyone chip in equally?
Click to expand...

First of all, the married couple's taxes would not be half of the single person's taxes. They'd be much more than that.

Secondly, our tax system was never intended to be equitable on a per-person basis. It's a progressive tax system. It's inherently unfair. Be glad it's unfair, because the people who make the most are subsidizing YOU. A single person making $X is better off than a married couple making $X, so our tax system taxes the single person more.
 
Age 40, 250-500K bracket for me. Using a calculator it comes up to $366K to be exact not counting automobiles.

Don't know how I managed to even get that far being self employed with a stay at home wife and 2 kids.....
 
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