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I was actually planning on buying a home with cash 100% down. I should have 200k by next year and that buys a good home in Indianapolis, IN. Then my only expenses will be utilities, property taxes, food, entertainment, and home repairs. Work pays for most of my gas and phone.
With low mortgage rates and small mortgages why not just put 20% down, get a 10 or 15 year mortgage, and invest the rest? You will come out ahead.
Take your yearly expenses and multiply by 25. That is how much you need to save to become financially independent.
However, here's the rub. Healthcare is amazingly expensive, and only going to go up. It's quite possible you will need to continue working just for the healthcare.
It doesn't seem like you're actually here to get financial advice, but if you were, most would tell you that's a poor use of your money.
it sounds to me like he wants to be a dave ramsey style person with no debt and lots of cash and keep things simple. he wont be maximizing net worth but as long as he continues to do what he has been doing, he should be fine.
With low mortgage rates and small mortgages why not just put 20% down, get a 10 or 15 year mortgage, and invest the rest? You will come out ahead.
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The OP doesn't strike me as the investor type, he refereed to the market as a ponzi scheme so I doubt he want's to go that route. Most people like that (Ramsey Crowd) assume debt is evil so he probably wouldn't understand the lost opportunity cost.
Oh...and you're THAT hot: https://dqydj.com/net-worth-by-age-c...united-states/ A household led by a 35-39 year old with a net worth of $150,000.00 was in net worth centile 74% in 2016. This centile ranged from $149,538.40 to $156,759.18. Around 2,645,110 of the 10,173,501 households in this age range had $149,538.40 or more in net worth.
Who knows what your actual net worth is but since you say you have no debt and no house either, sounds like the $150k is all your assets...otherwise you'd have told us, right? So we're talking 74th percentile not 99th but who's counting (except for you, of course).
That was per household. AKA more than one person. Go to different sites and get different results for single males. My NET WORTH is closer to 200k. My percentile isn't as high as I assumed, but I'm sure the top 1% skewed it quite a bit.
What is the average net worth of a 35 year-old? The average 35 year-old has a net worth of $6,900. This includes home equity. The average net worth of the average 35 year-old without home equity is $4,138.
What is the average net worth of 35-44 year-olds? The average person aged 35-44 years old has a net worth of $45,740, including their home equity. Without home equity, the average net worth for this age range is $18,197. https://www.creditdonkey.com/average...th-by-age.html
That was per household. AKA more than one person. Go to different sites and get different results for single males. My NET WORTH is closer to 200k. My percentile isn't as high as I assumed, but I'm sure the top 1% skewed it quite a bit.
What is the average net worth of a 35 year-old? The average 35 year-old has a net worth of $6,900. This includes home equity. The average net worth of the average 35 year-old without home equity is $4,138.
What is the average net worth of 35-44 year-olds? The average person aged 35-44 years old has a net worth of $45,740, including their home equity. Without home equity, the average net worth for this age range is $18,197. https://www.creditdonkey.com/average...th-by-age.html
Ohhhhhh but your question wasn't about what was average! And now the big reveal - glad I could get your net worth out of you - what assets are you claiming? ...usually depreciating assets like cars and such aren't included.
And it is your choice not to own a home - can't figure out if you think it's for suckers or not...guess we're all learning as we go.
OP, congratulations for saving that amount. Good for you in a spend-happy society.
However it's super easy to save when living a Spartan life. Not saying that's you but when I read posts by people who lack lives and the majority of time is spent staying home it's not that hard to accumulate money. Depriving oneself of food, clothes, travel, relationships, hobbies, social contact is not worth it IMO.
Ohhhhhh but your question wasn't about what was average! And now the big reveal - glad I could get your net worth out of you - what assets are you claiming? ...usually depreciating assets like cars and such aren't included.
And it is your choice not to own a home - can't figure out if you think it's for suckers or not...guess we're all learning as we go.
why not? honestly, if i was just coming up with a ball park number i may leave that out but if i wanted to be really accurate i would leave the value of my cars in. my net worth fluctuates, the fact that some assets are reducing in value over time doesnt change the fact that they are worth something today.
net worth is looked at various ways depending why we are taking the snap shot . here we usually talk in terms of liquid INVESTED assets and home .
if it is to feel good , then what the heck count everything with a number on it . but realize you won't be comparing apples to apples in that discussion
net worth is looked at various ways depending why we are taking the snap shot . here we usually talk in terms of liquid INVESTED assets and home .
if it is to feel good , then what the heck count everything with a number on it . but realize you won't be comparing apples to apples in that discussion
Would you count company pension in your net worth if you are still working? Still got 20 years of work to go and if my current value is XXXXXX should I include it in my net worth?
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