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The real debate over whether to include your house or not is dependent on whether you count your house as an asset or not. Most financial advisors would say that to do so is dependent on where you are in life and whether you want to stay in said house or downside, move on, etc.
its something you own that has value, how could it not be an asset?
No, your mentality was attacked because it came through loud and clear that you think badly of anyone who desires to build wealth over time (per your "stomach turning" comment). While the poster who responded to you made some inaccurate assumptions about you, you also have also done the same regarding people who desire wealth.
If you don't like being attacked, maybe you shouldn't be so quick to attack other people yourself. Time to look in the mirror
Wrong...I put in a silly little post about being poor and happy THEN my mentality was attacked. Look back. My fault, I stepped into the snake den,thinking I was at the petting zoo.
Including your home equity in your net worth is your choice.
There is no right or wrong answer and both can be debated for days.
i dont understand some people's logic. its not your choice to exclude your home in your net worth. its something that either is worth something that you own or its debt that substracts from your worth. you cant just choose not to include it. like someone else said, the liquidity of the asset doesnt change things as far as being part of your worth.
now the value you put on it at any given moment is subjective and can change over time.
i dont understand some people's logic. its not your choice to exclude your home in your net worth. its something that either is worth something that you own or its debt that substracts from your worth. you cant just choose not to include it. like someone else said, the liquidity of the asset doesnt change things as far as being part of your worth.
now the value you put on it at any given moment is subjective and can change over time.
If your calculation is not assets-liabilities then you are not talking about net worth. They need to come up with a term that applies to their calculation because it is not their net worth.
If your calculation is not assets-liabilities then you are not talking about net worth. They need to come up with a term that applies to their calculation because it is not their net worth.
Including your home equity in your net worth is your choice.
There is no right or wrong answer and both can be debated for days.
I understand where you are coming from. But OP clearly asked us to include home equity in net worth. If one doesn't include it, then he's not answering OP's question.
OP wrote: "By saving first 100K, I meant in terms of networth. If you own a house with 100K in equity, then that also counts too."
Wrong...I put in a silly little post about being poor and happy THEN my mentality was attacked. Look back. My fault, I stepped into the snake den,thinking I was at the petting zoo.
Hate is a pretty strong word.
Eh... I DID look back. And quite frankly even your initial post had a snarky tone to it. You made it sound like having money or being happy was an either/or type thing, when it is not.
Yes, hate is a strong word, although I didn't use it to describe you or any of your comments.
You didn't step into a snake den. You actually were the one to stir things up. This thread was civilized until you made your initial snarky comment.
I understand where you are coming from. But OP clearly asked us to include home equity in net worth. If one doesn't include it, then he's not answering OP's question.
OP wrote: "By saving first 100K, I meant in terms of networth. If you own a house with 100K in equity, then that also counts too."
Ok, I missed that part. Personally, I don't think it should be counted, but that isn't what the OP asked.
I guess you could say I was 14 when I came across my first $100K. My dad drowned in a boating accident while fishing on the second day I attended high school. My grandmother suggested that my mom distribute the life insurance payout evenly between my mom, sister, and brother (this disqualified all of us for college financial aid). 18 years later, I have yet to spend a dime of it. I worked full-time through college (maxed my 401k and Roth IRA) and lived at my mom's house while attending a state university. I was 25 when I saved my first "earned" $100K.
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