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23, single, full-time in law school. Net worth around $30k.
Dropping quickly due to tuition bills, and will probably go negative sometime in late 2013. Still vastly better than some of my colleagues. I expect to graduate about $10-15 in the hole - I know guys that are in for 200 or more.
I'm 36.
I might owe a couple grand on credit cards. Apart from that we own property that's paid off, a paid off car, and no other large debts. I'm not sure what the grand total is, perhaps $200K, but I'm unsure it matters. Owning the property is a great position to be in (we worked for it though), and this might (MIGHT) allow us to send our two boys through college one day: That does matter to us.
2.5 million in liquid assets and about 1 million in commercial real estate with our partner bernie spitzer, elliots father. elliot is our ex governor ,we are also partners in some co-op apartments in nyc over looking central park. . no debt at all, not even on the investment properties .
turning 60 in 3 weeks. retiring in 2 years because my wife says i can.
would have had a bunch more but you know what happens when you get divorced. did that about 10 years ago.
work in the electrical field as a motor control specialist , and love investing .
Last edited by mathjak107; 09-18-2012 at 05:47 PM..
I just enjoyed reading all the posts to this thread, especially the discussion about people feeling uncomfortable posting net worth since it is "nobody's business". I imagine that mentality is held by people who are too embarrassed to reveal how rich or poor they are? To me, net worth isn't a measure of worth, so I don't see the problem. Rich and poor have no correlation to happy or sad. Money gives you more opportunities, but does not change who you are mentally. Rich people can be worry mongers and poor people can be carefree...and vice-versa. The richer I get, the less it matters to me how much money people have when I judge them as a person, because I know it doesn't mean much.
As for me, my net worth is about $850,000. Mostly stocks. I'm 43 and make about $75,000/yr. I live frugally, to the point that many people joke with me about it. And I joke about it as well. Many of the people I know spend all their money on material possessions and have comparatively little net worth. I've always tried to live simply, figuring that I would want to be happy even if I were poor, so why not just live that way to begin with? I credit being single with no kids as the biggest factor in me being able to save money.
I sympathize with some of the indebted younger people that posted. We have created a condition in this country which places young people at a financial disadvantage. We tell them that they have to have a college degree, when in fact, most could do without. We've exported so many of the entry level jobs to other countries. Then when they start working, we take money out of their paycheck and give it to old people who had a whole lifetime to prepare for retirement. We've made a tax system so complex that you need to hire a financial guru to whittle down your tax burden to a reasonable level. Not to mention we burden them with paying off a $16,000,000,000,000 debt at some point...but I digress.
i always found it funny how people will tell total strangers about their marriage problems ,their sex lives and their affairs but heaven forbid someone knows about their money..
when you think about it it, its the stupidest thing folks do and unless your living a lifestyle that is a lie i never understood the big secreat.
a few years ago money magazine and fidelity investments wanted to run a story about my wife and i.
i did all my own investing and planning for decades and they wanted their team of pro's to evaluate my amatuer planning.
at first my wife said no, she didnt want our financial information in print for millions of people to read.
but then we said lets think about this, so we thought and we thought and we couldnt come up with a valid reason not to do the stories .
were we living a lie? no
were lost relatives coming out of the woodwork? no
were we proud of our accomplishments? yes
were charities going to call us? maybe.
were kidnappers going to hold me for ransom? nah,they would pay my wife to take me back im such a pain in the butt.
were friends going to stop being our friends? nah ,we have no friends ha ha ha
well we couldnt think of one darn reason not to do a feature story and so we did it.
well millions have read the articles, millions more have seen us on the cnn website and know what? not one phone call....
keeping your finances a secreat is one of the biggest much ado about nothing as you can get in my opinion. unless you got something to hide or are just to embarrassed about the lack of what you have . but even if you dont have alot,so what.
people expose far greater flaws right here in citi data with some of their reasoning and comments which shows their total lack of knowledge of what it is they are commenting on and thats okay to them but heaven forbid you know about the fact they dont have alot financially..
Last edited by mathjak107; 09-19-2012 at 02:52 AM..
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