Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
you are just wrong. percentages are meaningful. the fact that you dont understand that is your shortcoming, not ours. much less meaningful than % would be dollar amount but you seem to think otherwise. you should try to realize why this is the case instead of acting like you know something that you dont. it will help you become more financially literate.
of course, no single number is going to give you a full financial picture of someone. so you will always be able to point out shortcomings of any single piece of data. but if you picked 1, it would be %.
I think it depends on the what financial information you are looking at. Sometimes a % is more useful, sometimes actual amounts.
Personally, when it comes to net worth, I think it makes more sense to look at actual dollar figures. But I understand why some may not feel comfortable sharing this on the internet.
No, percentages are not meaningful except in relation to starting and ending points. If you think they are, then you'd take North Dakota as the state that is growing the most percentage wise over California, which is growing slower percentage wise but increasing at a much greater amount net.
When it comes to finance dollar amount as a single value is much more meaningful. Could you even invest $1 in a mutual fund or investment account? Would you give the same advice to someone with $1,000,000 as someone with $100?
What if the person with $100 added 10% or $10 whereas the person with $1,000,000 added 5%, which is $50,000?
You'd rather be Mr $100?
No, percentages are not meaningful except in relation to starting and ending points. If you think they are, then you'd take North Dakota as the state that is growing the most percentage wise over California, which is growing slower percentage wise but increasing at a much greater amount net.
When it comes to finance dollar amount as a single value is much more meaningful. Could you even invest $1 in a mutual fund or investment account? Would you give the same advice to someone with $1,000,000 as someone with $100?
What if the person with $100 added 10% or $10 whereas the person with $1,000,000 added 5%, which is $50,000?
You'd rather be Mr $100?
Well in reality those two people aren't comparable using dollars or percentage terms but if Mr. $100 never grows it's impossible to meet the 1mm mark. This thread started off and has seemed more of a personal progress checkpoint that one's performance relative to others
Well in reality those two people aren't comparable using dollars or percentage terms but if Mr. $100 never grows it's impossible to meet the 1mm mark. This thread started off and has seemed more of a personal progress checkpoint that one's performance relative to others
But even as personal progress, don't $ amounts make more sense?
Let's say I start at zero and increase my net worth by $50K per year - Year 1 to Year 2 is a 100% increase. Year 2 to Year 3 is only a 50% increase. Looking at the percentage alone, you could believe you did twice as well in the first year.
But even as personal progress, don't $ amounts make more sense?
Let's say I start at zero and increase my net worth by $50K per year - Year 1 to Year 2 is a 100% increase. Year 2 to Year 3 is only a 50% increase. Looking at the percentage alone, you could believe you did twice as well in the first year.
If you know your percentage increase or decrease you know or should know your dollars as it's a vital part of the calculation. Wouldn't you agree?
Discussing the dollars here in the context of personal performance isn't really all that relevant or necessary to disclose if people didn't fell like it.
No, percentages are not meaningful except in relation to starting and ending points. If you think they are, then you'd take North Dakota as the state that is growing the most percentage wise over California, which is growing slower percentage wise but increasing at a much greater amount net.
When it comes to finance dollar amount as a single value is much more meaningful. Could you even invest $1 in a mutual fund or investment account? Would you give the same advice to someone with $1,000,000 as someone with $100?
What if the person with $100 added 10% or $10 whereas the person with $1,000,000 added 5%, which is $50,000?
You'd rather be Mr $100?
its not a matter of "who would you rather be?" its a matter of who performed better. a rich guy that gained 5% still did half as well as a poor guy that gained 10%. the % is what matters, not the dollar amount.
this isnt an opinion. its a fact. you and the other two are wrong. you and them should be asking questions in the finance forum, not voicing "opinions" and trying to make points.
its not a matter of "who would you rather be?" its a matter of who performed better. a rich guy that gained 5% still did half as well as a poor guy that gained 10%. the % is what matters, not the dollar amount.
this isnt an opinion. its a fact. you and the other two are wrong. you and them should be asking questions in the finance forum, not voicing "opinions" and trying to make points.
I can't agree with this. The utility is in the dollars. The 100 guy didn't perform better than the 1mm guy, percentage wise yes but in utility not even close.
its not a matter of "who would you rather be?" its a matter of who performed better. a rich guy that gained 5% still did half as well as a poor guy that gained 10%. the % is what matters, not the dollar amount.
this isnt an opinion. its a fact. you and the other two are wrong. you and them should be asking questions in the finance forum, not voicing "opinions" and trying to make points.
You're making a common mistake, thinking financial progress is linear. It is not, it's exponential.
It's a lot easier to pick $1 off the street when you're worth $10 than it is to make $100k when you're worth $1MM.
number5,
did you mean its sub linear? Your e.g. seems self contradictory.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
