Don’t worry what your neighbors net worth is, worry about how many decades of bills and expenses you have banked. Live good, live cheap, frugality will make you rich(er)
My one bedroom condo was 198000 twenty years ago and it is now 880000!! This is utter insanity and unfair to the youth. Luckily, I have a DB pension and retired at 57. Love it. Not one single debt. Amen 🙏
I keep track of my net worth with and without my home, but interestingly I use the purchase price (from 2010!) and focus on closing the mortgage balance in the NW+Home Value column. The good news is that while the home value is pretty good now, the non-home NW is much more significant. My logic was always that selling the home to capture the gain would likely be offset by the cost of a new home.
Am I the only person who feels that Zillow has NO IDEA AT ALL what a house is worth? 🤣😂. I bought my house for $282,000 in 2010. According to local realtors, it’s now worth approximately $375,000 to $395,000. Zillow (and my mortgage company that’s always pushing for me to take out some equity) claim it’s worth $539,000. What planet are they from?! I can’t “define” my net worth using their over-inflated numbers because I will overstate my net-worth. So, I agree with using your original purchase price of your home to modestly identify your net worth. Good suggestion….and a ‘realistic’ strategy. Thanks!
I don't understand not using the current value of your home? Should we use the original value we paid for stocks and precious metals? Aren't those just as volatile?
I am totally agree with Dave…Just a couple of years before my retirement, our house value dropped more than 10 percent when the city allowed new apartments to be built in our neighborhood.
Big difference between number value and actual value. Unfortunately, inflation over the past few years has really taken a big bite out of the actual value of our money.
Don’t worry what your neighbors net worth is, worry about how many decades of bills and expenses you have banked.
Live good, live cheap, frugality will make you rich(er)
My one bedroom condo was 198000 twenty years ago and it is now 880000!! This is utter insanity and unfair to the youth. Luckily, I have a DB pension and retired at 57. Love it. Not one single debt. Amen 🙏
Dave, after watching this video, I've come to realize my net worth should allow me to retire 5 minutes AFTER I expire.😂
I keep track of my net worth with and without my home, but interestingly I use the purchase price (from 2010!) and focus on closing the mortgage balance in the NW+Home Value column. The good news is that while the home value is pretty good now, the non-home NW is much more significant. My logic was always that selling the home to capture the gain would likely be offset by the cost of a new home.
Creating a budget and updating it every year to ensure it is accurate is one of the most important tools to identify what you need to retire.
Am I the only person who feels that Zillow has NO IDEA AT ALL what a house is worth? 🤣😂. I bought my house for $282,000 in 2010. According to local realtors, it’s now worth approximately $375,000 to $395,000. Zillow (and my mortgage company that’s always pushing for me to take out some equity) claim it’s worth $539,000. What planet are they from?! I can’t “define” my net worth using their over-inflated numbers because I will overstate my net-worth. So, I agree with using your original purchase price of your home to modestly identify your net worth. Good suggestion….and a ‘realistic’ strategy. Thanks!
I don't understand not using the current value of your home? Should we use the original value we paid for stocks and precious metals? Aren't those just as volatile?
do they report a median nw?
Exactly! Average means nothing as a few people with large amounts (like Jeff Bezos) can skew the average. So without the median , this is not helping
I am totally agree with Dave…Just a couple of years before my retirement, our house value dropped more than 10 percent when the city allowed new apartments to be built in our neighborhood.
Big difference between number value and actual value. Unfortunately, inflation over the past few years has really taken a big bite out of the actual value of our money.
So many guys living life of Riley in Philippines on just a SS check.
That is why I don’t figure the value of my house into my net worth. It is only a factor if you want to sell the house.
About that measuring and improving thing, my wife keeps telling me the same thing.😮😊
You always look at median, not average
I like the lightning bolt in the background! ⚡️
The reason net worth is up is mostly inflation.
The real estate rhythm seems off lately. Are we dancing on the edge of a housing market crisis, especially in the USA?
Stock markets all time highs and asset bubble on steroids
Houses increased in value during the fast few years.
Q:Plans for your funeral? A:Work the morning.
❤
My net worth is BILLIONS and BILLIONS. 😜
Carl Sagan would thank you
Carl Sagan!
Please stop talking with your hands. It's particularly distracting.