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What is your networth?

What is your networth?

  • $0 or negative NW

    Votes: 3 4.6%
  • $1 - $19,999

    Votes: 2 3.1%
  • $20,000 - $99,999

    Votes: 7 10.8%
  • $100,000 - $349,999

    Votes: 6 9.2%
  • $350,000 - $999,999

    Votes: 17 26.2%
  • $1,000,000 - $1,499,999

    Votes: 9 13.8%
  • $1,500,000 - $2,999,999

    Votes: 6 9.2%
  • $3,000,000 - $4,999,999

    Votes: 9 13.8%
  • $5,000,000 - $9,999,999

    Votes: 2 3.1%
  • $10,000,000+

    Votes: 4 6.2%

  • Total voters
    65

fall

Well-known member
Dec 9, 2010
2,745
680
113
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.
 

chafien

Member
Apr 17, 2012
65
13
8
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
 

fall

Well-known member
Dec 9, 2010
2,745
680
113
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.
 

out4fun

Active member
Jan 8, 2008
977
42
28
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.

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.
 

Capital Amatuer

Well-known member
Sep 2, 2004
1,114
584
113
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.
 

luvyeah

🤡🌎
Oct 24, 2018
2,553
1,206
113
Less than Jeff Bezos'.
 

jalimon

Well-known member
Jan 10, 2016
5,315
4,803
113
There is no way any regular member her will answer that question. Our net worth is and must remain private.
 
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