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What I'm worth is on average higher than most places. Unfortunately I live in one of the most expensive cities in the world and it means nothing if I plan to live here for the rest of my life.
If a retired person living in NYC is worth 1Million, it's not that impressive compared to a person worth 1M in Detroit. He can go very far with 1M in Detroit vs NYC.
If you are 30, plug in 28-32 and see where you land. You're not comparable to 20yo's or 65yo's.
Find your age bracket for comparable people.
Oh, I see. That put me in the 94.6%. That number doesn't mean anything to me though. I still feel broke. But the comments of people trashing each other below are pretty funny.
The job requires future services - you can be fired/laid off - have your salary cut, etc. Pensions, SS and SPIA's just need you to be alive.
You have longevity risk vs job market risk. Both do not belong in a net worth calculation. Net worth refers to assets that can actually be sold and you get cash in hand.
We don't calculate in future market gains either nor the house being paid off someday.
Eventually you just lose all purpose by trying to keep padding the numbers
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