What is your net worth?

[nottyboi]

Just curious to see what the financial demographics of the community are. For the purposes of this poll, real estate is included. Assets net of liabilities.

 

[acid_barrett]

Is English your native tongue?

 

[shack]

I don't own any nets.

 

[toughb]

Would one include a spider collection?

 

[nottyboi]

Would one include a spider collection?

What is the net liquidation value?

 

[nottyboi]

Is English your native tongue?

Fair criticism, it was poorly written and I have cleaned it up.

 

[TeasePlease]

You need more categories, and you should stratify by age as well. E.g., $5mm prob isn't enough @ retirement, assuming the average lifespan.

 

[nottyboi]

You need more categories, and you should stratify by age as well. E.g., $5mm prob isn't enough @ retirement, assuming the average lifespan.

You are saying if you retire at 65 and live to 80 that 5M is not enough? How much a month do you expect you will need to live to your standards? I am thinking one can live quite nicely on 5-7K/month....

 

[simon482]

i am only gonna answer this to see how many dudes are lying about their worth.

 

[superstar_88]

Who even makes 5 mill in a lifetime let alone have that in retirement.

 

[Submariner]

i am only gonna answer this to see how many dudes are lying about their worth.

I don't think I am lying when I say the my basketball net is worth about $125.

 

[nottyboi]

Kinda silly to lie seeing that even if your posting handle was known, no one really knows who the fuck you are.

 

[brazilianguy]

i have more than enough.. i've never needed anymore money when i stole little jackie's lunch money in 2nd grade

 

[wpgguy]

Let me go out to the garage and count up the empties, has to at least $50.00

 

[mrsCALoki]

Just curious to see what the financial demographics of the community are. For the purposes of this poll, real estate is included. Assets net of liabilities.

A bit of old data from the policyalternatives.ca report...


"In 2007, the richest 0.01% of Canadians made a minimum of $1.845 million. The average income of the 2,500 people in this rarified group was $3.833 million."

So pretty safe to say at least one in 1,000 is worth well over 5 million.

 

[nottyboi]

hilarious

According to my FP it depends on your what your employment income was. You can expect to spend at retirement about 40-60% of whatever your working income was.... So 5-7k per month is adequate if you were earning 10-15k per month when you were employed.

The FP is full of crap. I don't come remotely close to spending what I make every month. But of course there are some really big spenders out there.

 

[nottyboi]

5-7K/month is approximately 100K/year (taking taxes into consideration). That's 10 years for every 1 million dollars. So with a little discipline, 5 million would last 50 years (inflation and interest notwithstanding).

That is assuming you are generating no return on that next egg

 

[TeasePlease]

You are saying if you retire at 65 and live to 80 that 5M is not enough? How much a month do you expect you will need to live to your standards? I am thinking one can live quite nicely on 5-7K/month....

Depends if you plan on traveling, your hobbies, etc. I expect my burn rate to be twice that in today's dollars.

 

[peter4025]

More than yesterday less than tomorrow

 

[bandit2238]

If i never went to strip clubs and didn't get into hobbying scene i know i'd have another $200k in my portfolio