View Poll Results: What is your networth?

Voters
38. You may not vote on this poll
  • $0 or negative NW

    3 7.89%
  • $1 - $19,999

    1 2.63%
  • $20,000 - $99,999

    4 10.53%
  • $100,000 - $349,999

    2 5.26%
  • $350,000 - $999,999

    9 23.68%
  • $1,000,000 - $1,499,999

    6 15.79%
  • $1,500,000 - $2,999,999

    3 7.89%
  • $3,000,000 - $4,999,999

    5 13.16%
  • $5,000,000 - $9,999,999

    2 5.26%
  • $10,000,000+

    3 7.89%
Results 1 to 16 of 16

Thread: What is your networth?

  1. #1

    What is your networth?

    Networth = Assets - Liabilities

  2. #2
    $752,444,322.89.

  3. #3
    $5-$10, gotta check my piggy bank.

  4. #4
    A quick question about definitions. For assets: I assume, it include the value of your primary residence. How about the value of your future pension in case you have a defined pension benefits? For liabilities: does it include any tax deferred liabilities for accumulated capital gains (either in stocks or in real estate). If yes, should they be computed as liability from immediate asset liquidation or as discounted from the expected liquidation time? These are not small numbers: for somebody in $1M-$2M region it can be in the order of $500K-$1M (especially if somebody used tax depreciation and accumulated huge deferred tax liabilities). For me, it can put me somewhere between $700K and $3M depending on how "assets" and "liabilities" are defined.

  5. #5
    Thanks to you I now realize I've been calculating my net worth incorrectly all this time.

  6. #6
    Quote Originally Posted by JohnnyFever View Post
    $752,444,322.89.
    Somebody invested in bitcoins in 2010
    For the love of God, let the baby ride the dog.
    @bruce_deighan

  7. #7
    No
    Join Date
    May 2003
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    way out there
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    9,126
    Quote Originally Posted by JohnnyFever View Post
    $752,444,322.89.
    Can you loan a bro some money for a ho?
    swollen member

  8. #8
    Quote Originally Posted by fall View Post
    A quick question about definitions. For assets: I assume, it include the value of your primary residence. How about the value of your future pension in case you have a defined pension benefits? For liabilities: does it include any tax deferred liabilities for accumulated capital gains (either in stocks or in real estate). If yes, should they be computed as liability from immediate asset liquidation or as discounted from the expected liquidation time? These are not small numbers: for somebody in $1M-$2M region it can be in the order of $500K-$1M (especially if somebody used tax depreciation and accumulated huge deferred tax liabilities). For me, it can put me somewhere between $700K and $3M depending on how "assets" and "liabilities" are defined.
    I believe everything is calculated pre-taxed. As when people say Bill Gates is worth $100 billion, that $100 billion is before taxes are considered. If he were to realize his $100 billion, I'm sure after taxes, it would actually be worth $50 billion.

    As for defined pension, there should be a transfer value, or the value you get for taking it as lump sum instead as a pension when u get 65. That should be added to your nw

  9. #9
    Registered User
    Join Date
    Jun 2002
    Location
    Hopefully with my face in a pussy
    Posts
    1,978
    As spare parts? Couple of bucks.

  10. #10
    Quote Originally Posted by chafien View Post
    I believe everything is calculated pre-taxed. As when people say Bill Gates is worth $100 billion, that $100 billion is before taxes are considered. If he were to realize his $100 billion, I'm sure after taxes, it would actually be worth $50 billion.

    As for defined pension, there should be a transfer value, or the value you get for taking it as lump sum instead as a pension when u get 65. That should be added to your nw
    Pre-tax calculation is very inaccurate. For example, assume you and me bought $500K house for cash and rented it for 20 years for $20,000 per year after expenses but before taxes. Assume house value increased to $1M. Assume you paid 50% taxes and invested your money, so, now you should have about $400K cash + house. Your pre-tax net assets are $1.4M. capital gain taxes on house (at 25%) are $250K, so, if you transfer everything into cash, you will have $1.15M. I, on the other hand, used CCA (deprecation) on the house and was able to defer taxes, i.e., get the entire 20*$20K=$400K rent tax free. So, it will grow to $800K cash and my pre-tax net assets are $1.8M. However, my tax liabilities on the rental property are 400*0.5+500*0.25=$450K, so, if I transfer everything to cash, I will have only $1.35M. The difference is not a small change.

    I think, after-tax wealth is what counts. After all, this is what you can really spend. Unless, of cause, you can claim SP payments as business expense.

  11. #11
    I think you are taking the survey a bit too serious. The brackets of the survey cover a fair range relative to wealth. If we stick to pretax it should capture the picture. You can be more precise when planning your estate.

    Quote Originally Posted by fall View Post
    Pre-tax calculation is very inaccurate. For example, assume you and me bought $500K house for cash and rented it for 20 years for $20,000 per year after expenses but before taxes. Assume house value increased to $1M. Assume you paid 50% taxes and invested your money, so, now you should have about $400K cash + house. Your pre-tax net assets are $1.4M. capital gain taxes on house (at 25%) are $250K, so, if you transfer everything into cash, you will have $1.15M. I, on the other hand, used CCA (deprecation) on the house and was able to defer taxes, i.e., get the entire 20*$20K=$400K rent tax free. So, it will grow to $800K cash and my pre-tax net assets are $1.8M. However, my tax liabilities on the rental property are 400*0.5+500*0.25=$450K, so, if I transfer everything to cash, I will have only $1.35M. The difference is not a small change.

    I think, after-tax wealth is what counts. After all, this is what you can really spend. Unless, of cause, you can claim SP payments as business expense.

  12. #12
    What an intrusive question. Are you a family lawyer looking for someone bragging they have more than they've admitted to in divorce and alimony proceedings ?
    Not worth answering.

  13. #13
    High enough to not give a shit what I spend on the ladies but low enough to still be working

  14. #14
    No
    Join Date
    May 2003
    Location
    way out there
    Posts
    9,126
    My asian MILFs think I'm priceless
    swollen member

  15. #15
    Registered User
    Join Date
    Feb 2004
    Location
    Ottawa
    Posts
    93
    Not much. It is full of holes from all the slapshots!

  16. #16
    Lucky Strike Economy Trout Fishing Net

    $11.99 + tax @ Canadian Tire

    A good catch! 🎣

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