What's YOUR net worth?

[chachi1189]

I found this intriguing and thought I would share

[Strictly Street]

Isn't, net worth = assets - debt?

All the cartoon lists is debt.

I get the point of it but it's not the whole story.

Wonder what the cartoon would look like if it were all congressmen?

[MattKatz]

$1 Bob.

[SAMBUSA]

-500,000:nono:

[magifesq]

-$58k mortgage

-$3500 CC debt

-$2000 Medical Debt

+$1000 car

+$1000 truck

+$10,500 Turbo Busa

+$1000 CR500

+$1250 Rieju RS50

+$1250 Derby 75 w/YZ250 powerplant

--------------------------------------

- $48,500 In the red for a long time lol

[Likwid]

Mortgage is debt, but it's offset by the value of the real property.

So, 265,000 house - 201,000 mortgage = $64,000 --- WEEEEEEEE I like being in the black

And technically, if you carry term life insurance that should count as an asset too

[magley64]

And technically, if you carry term life insurance that should count as an asset too

it only turns into an asset after you die...

-$ 8,000 car loan

-$20,000 student loan

+$ 2,500 savings

+$ 1,000 checking

+$ 4,000 bike worth (conservative)

+$ 6,000 car worth (conservative)

+$ 1,000 Dune bug

=-$13,500, not terrible but in the red.

[Likwid]

it only turns into an asset after you die....

I'll have to ask my wife, she's an actuary so she could tell me for sure.

I believe if you're the policy owner (rather than a company) you can count it as an asset offset by your premium (if you haven't paid it off).

[fusion]

I don't even want to think about it.

[ninjachk08]

^ditto!

[magifesq]

Mortgage is debt, but it's offset by the value of the real property.

So, 265,000 house - 201,000 mortgage = $64,000 --- WEEEEEEEE I like being in the black

And technically, if you carry term life insurance that should count as an asset too

That's an interesting way to look at it... if you're a casualty of this economic crisis (recession, depression, whatever), I guess its kinda moot.

[Angrish]

Thats not fare> I carry dept so my money can make more money else where.....trick question.I could pay everything off but then be broke with no investments. Fuk that I vote keep money let the bank finace my fun.Good credit rocks

[Dave]

I don't even want to think about it.

good answer. and good method. I prescribe to this wonderful method.

[shittygsxr]

I'll have to ask my wife, she's an actuary so she could tell me for sure.

I believe if you're the policy owner (rather than a company) you can count it as an asset offset by your premium (if you haven't paid it off).

It depends on if it is a term policy vs whole life (has a cash value)

[shittygsxr]

Thats not fare> I carry dept so my money can make more money else where.....trick question.I could pay everything off but then be broke with no investments. Fuk that I vote keep money let the bank finace my fun.Good credit rocks

leveraged for the win!! Smart guy

[Dubguy85]

http://www.youtube.com/watch?v=4j5m2FuFC48&feature=related

[NinjaNick]

One hundred quadrillion dollars!!!

[ironbuttwannabe]

I have a $500,000 insurance policy. I'm worth a lot dead.