chachi1189 Posted August 7, 2009 Report Share Posted August 7, 2009 I found this intriguing and thought I would share Link to comment Share on other sites More sharing options...
Strictly Street Posted August 7, 2009 Report Share Posted August 7, 2009 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? Link to comment Share on other sites More sharing options...
MattKatz Posted August 7, 2009 Report Share Posted August 7, 2009 $1 Bob. Link to comment Share on other sites More sharing options...
SAMBUSA Posted August 7, 2009 Report Share Posted August 7, 2009 -500,000:nono: Link to comment Share on other sites More sharing options...
magifesq Posted August 7, 2009 Report Share Posted August 7, 2009 -$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 Link to comment Share on other sites More sharing options...
Likwid Posted August 7, 2009 Report Share Posted August 7, 2009 Mortgage is debt, but it's offset by the value of the real property.So, 265,000 house - 201,000 mortgage = $64,000 --- WEEEEEEEE I like being in the blackAnd technically, if you carry term life insurance that should count as an asset too Link to comment Share on other sites More sharing options...
magley64 Posted August 7, 2009 Report Share Posted August 7, 2009 And technically, if you carry term life insurance that should count as an asset too it only turns into an asset after you die...-$ 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. Link to comment Share on other sites More sharing options...
Likwid Posted August 7, 2009 Report Share Posted August 7, 2009 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). Link to comment Share on other sites More sharing options...
fusion Posted August 7, 2009 Report Share Posted August 7, 2009 I don't even want to think about it. Link to comment Share on other sites More sharing options...
ninjachk08 Posted August 7, 2009 Report Share Posted August 7, 2009 ^ditto! Link to comment Share on other sites More sharing options...
magifesq Posted August 11, 2009 Report Share Posted August 11, 2009 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 blackAnd 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. Link to comment Share on other sites More sharing options...
Angrish Posted August 11, 2009 Report Share Posted August 11, 2009 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 Link to comment Share on other sites More sharing options...
Dave Posted August 11, 2009 Report Share Posted August 11, 2009 I don't even want to think about it.good answer. and good method. I prescribe to this wonderful method. Link to comment Share on other sites More sharing options...
shittygsxr Posted August 11, 2009 Report Share Posted August 11, 2009 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) Link to comment Share on other sites More sharing options...
shittygsxr Posted August 11, 2009 Report Share Posted August 11, 2009 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 rocksleveraged for the win!! Smart guy Link to comment Share on other sites More sharing options...
Dubguy85 Posted August 11, 2009 Report Share Posted August 11, 2009 http://www.youtube.com/watch?v=4j5m2FuFC48&feature=related Link to comment Share on other sites More sharing options...
NinjaNick Posted August 11, 2009 Report Share Posted August 11, 2009 One hundred quadrillion dollars!!! Link to comment Share on other sites More sharing options...
ironbuttwannabe Posted August 11, 2009 Report Share Posted August 11, 2009 I have a $500,000 insurance policy. I'm worth a lot dead. Link to comment Share on other sites More sharing options...
Recommended Posts