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.
On a side note I'm not saying what my networth is but I have NEVER invested in the SP 500 (yet). This is despite the fact that I'm probably more knowledgeable about the SP 500 then most people who have money in it.
Warren Buffett recommends 90% S&P500 stock index funds and 10% bonds so you should start soon.
A lot of paper millionaires out there... IMO until it’s relatively safe and liquid/near liquid then it’s just a number on paper.
i would disagree ... it is always your value whether realized or on paper ...the thought that just because your investment varies that at any point in time it is not what something is worth is rediculous .
in retirement your yearly draw is based on that snap shot or yearly snap shot ... all keeping money in play means is we hope it goes up from where it is .. maybe it will maybe it won't , but whatever that number is , is what it's worth ...
could someone with a million invested dip below ? sure they could , then they are no longer a millionaire ... the same as it was on the way up prior to hitting it .
most of us will never be less than 30-50% equities ever so this assumption for bench marking net worth is ridiculous . .
Last edited by mathjak107; 10-21-2019 at 07:50 AM..
We’ll talk in 24 months boys then see how you still feel about my statement.
And then have another chat three years later when stocks have recovered.
There will be disruptions, corrections, changes, but at a fundamental level as long as there is human activity there will be some sort of market, some sort of opportunity.
We’ll talk in 24 months boys then see how you still feel about my statement.
why would anything change ? you are what you are at any point in time ... for most of us it will vary over the rest of our lives because in order to sustain at least a 4% draw inflation adjusted you will need at least 40% equities or so . but that does not change the fact your net worth is what it is .
don't confuse the fact you may not care at that point in time ... but i can tell you each year my draw is based on that portfolio value ... our state estate taxes are based on that value and if we wanted to take an asset based loan those values count .
why would anything change ? you are what you are at any point in time ... for most of us it will vary over the rest of our lives because in order to sustain at least a 4% draw inflation adjusted you will need at least 40% equities or so . but that does not change the fact your net worth is what it is .
don't confuse the fact you may not care at that point in time ... but i can tell you each year my draw is based on that portfolio value ... our state estate taxes are based on that value and if we wanted to take an asset based loan those values count .
You have state estate taxes?
How does that work; you mean they tax you on the net worth of your estate?!
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.
