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Millions spent on hunting, fishing, camping, and feeding dogs. Such a crying shame. Such a waste of time and money. It's amazing.
We are all so different and we all find value in such odd things. Fishing, hunting, camping, feeding dogs. To me, this sounds like an horrific prison of boredom and unnecessaryness.
Give me that money. I will find something worthwhile to do with it!
Like what? Something even more boring and more unnecessaryness?
People do things they like; who are you to criticize?
I buy guitars for $XX,000s and have several just hanging out. I like vintage models from the 50s-60s and they tend to be pricey. I don't look at them for months and don't play some within a year's time. Some of the amps sit and sit or are at other's houses. Other than for bass, I usually don't turn them on at home. They are investments and appreciate yearly - it delights and scares me how much they can appreciate. Stocks can't touch some of them.
I use 6 rooms in my house and rarely go down into the basement. Yeah, it's paid for.
Sound boring? My collection of 20+ year old GM vehicles are a hoot. I am looking at another older Caddie at present.
Yeah, I waste my time and money. I don't travel unless by car for the most part as I find that a waste of time and money unless going to the west coast. I prefer that drive just to see the country.
I looked at the results and just started laughing. Welcome to an internet poll. Many people are either lying for fun or clueless about how to calculate net worth. Don't take the results seriously at all.
I looked at the results and just started laughing. Welcome to an internet poll. Many people are either lying for fun or clueless about how to calculate net worth. Don't take the results seriously at all.
I think there are a lot of older people in this forum. Couple that with the fact that the people most likely to talk about money are those with it you are likely to get skewed results. I don't think a networth of 700k is a ton of money for a 60 year old. Assuming a 250k house and 450k in a 401k. If you started saving $325/month at 25 and got a 6% CAGR for 35 years that would put you over the 700k networth. Also keep in mind many people are talking about their networth combined with their SOs.
I think there are a lot of older people in this forum. Couple that with the fact that the people most likely to talk about money are those with it you are likely to get skewed results. I don't think a networth of 700k is a ton of money for a 60 year old. Assuming a 250k house and 450k in a 401k. If you started saving $325/month at 25 and got a 6% CAGR for 35 years that would put you over the 700k networth. Also keep in mind many people are talking about their networth combined with their SOs.
I think you are right.........being in my mid-forties.....I am older than most.
I looked at the results and just started laughing. Welcome to an internet poll. Many people are either lying for fun or clueless about how to calculate net worth. Don't take the results seriously at all.
Not sure why you say this. I don't doubt the numbers - though I wouldn't try to project the results to any population group. The C-D group here might be above average indicated by their interest in this forum.
A person working for 20+ years in a salaried profession could easily have several hundred thousand in equity on their home, the 401K and/or IRA accounts, offset by their remaining principal on their mortgage and any consumer debt.
I consider myself moderately successful and answered truthfully.
[quote=mizzourah2006;38979639]I think there are a lot of older people in this forum. Couple that with the fact that the people most likely to talk about money are those with it
Odd, I have found the exact opposite to be true. People with wealth rarely talk about it because they think it is tacky.
I was on the lowest end of the poll 16 years ago, $50K of credit card debt. I'm on the plus side now. Nothing exceptional like a get rich scheme that paid off, just a lot of hard work, long hours, saving turned things round. I didn't take the poll, TMI of a private sort on a forum that is too public and too risky.
That said, I wish it wasn't tacky to talk about money.. Nothing reveals more of what a person is really like and what they really value than what they do with and how they spend money.
I was on the lowest end of the poll 16 years ago, $50K of credit card debt. I'm on the plus side now. Nothing exceptional like a get rich scheme that paid off, just a lot of hard work, long hours, saving turned things round. I didn't take the poll, TMI of a private sort on a forum that is too public and too risky.
That said, I wish it wasn't tacky to talk about money.. Nothing reveals more of what a person is really like and what they really value than what they do with and how they spend money.
Usually, you can see what they spend their money on without them talking about it. I think bragging about money and possessions tells us a lot about who a person is too.
I looked at the results and just started laughing. Welcome to an internet poll. Many people are either lying for fun or clueless about how to calculate net worth. Don't take the results seriously at all.
Meh, it's hardly a scientic poll. I am on the backside of 50, and have had close to a full lifetime of earnings and I barely made it into the $300,000-$700,000 bracket, and most of that is now going into home equity as a cost avoidance strategy for my retirement years.
From my perspective, I am admitting I screwed up, not bragging about wealth! When I was in my twenties and early thirties, and struggling to meet the bills each month, I couldn't fathom having $300,000+ as a net worth, and would have been sitting at between 0 to less than $20,000 net worth for most of that timeframe in my life.
Staring at retirement and the end of my productive years, $325,000 net worth doesn't seem like much for a lifetime of earnings, however, compared to others (based on census data), statistically, I have done quite well putting some (ANY) money aside compared to the general population in my situation/age range.
EDIT: My bet is most of the responders with under $100,000 net worth are probably under 40, and most of those with over $100,000 net worth are over 40, and go up in age significantly as you go into the >$700,000 category. We move through different economic stages as we age.
Last edited by Tuck's Dad; 03-27-2015 at 04:11 PM..
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