Personal Finance

What is your net worth?

  • Last Updated:
  • Jun 20th, 2017 12:40 pm
Tags:

Poll: What is your net worth?

  • Total votes: 194. You have voted on this poll.
$0 - $50,000
 
23
12%
$50,001 - $100,000
 
14
7%
$100,001 - $200,000
 
27
14%
$200,001 - $300,000
 
15
8%
$300,001 - $500,000
 
32
16%
$500,001 - $750,000
 
18
9%
$750,001 - $1,000,000
 
15
8%
$1,000,000 - $1,500,000
 
14
7%
$2,000,000 - $3,000,000
 
11
6%
$3,000,001 +
 
25
13%
[OP]
Deal Addict
Jun 20, 2011
1360 posts
373 upvotes
VANCOUVER

What is your net worth?

Hey everyone, I was wondering what sort of range we had on RFD for net worth. Lets just keep this nice and clean so play nice. For all purposes, we will define it as ALL non-financial and financial assets minus ALL outstanding liabilities. So in the case of a property, it'll be at the appraised value / amount it's worth minus any mortgage balance. Don't bother factoring in fees for the sale, etc. Just keep it simple. Generally, this is something that isn't asked to your friends, coworkers, etc but since we are all strangers we should have nothing to hide right?

This came up because I was thinking about preparing for retirement in the future / having the wife just stay home with our 2 young kids. Old Age Security (OAS) offers up to $578 a month and the Canada Pension Plan gives a maximum of $1,114 a month based on retirement at 65 in 2017. Most people aim for the magical 1 million mark. Are we in this day and age trying to save to much?
82 replies
Jr. Member
Jan 10, 2017
189 posts
85 upvotes
Maybe it's just me, but I cannot envision retirement - at least, not in the context of 'living off savings'.

I've been on EI before - it's incredibly depressing.
[OP]
Deal Addict
Jun 20, 2011
1360 posts
373 upvotes
VANCOUVER
Sociology1 wrote:
Jun 12th, 2017 1:48 pm
Maybe it's just me, but I cannot envision retirement - at least, not in the context of 'living off savings'.

I've been on EI before - it's incredibly depressing.
I would agree. I was on EI about 10 years ago for a few months. It was not a nice position to be in.
Deal Fanatic
Feb 15, 2006
6697 posts
1323 upvotes
Toronto
Not sure the purpose of asking the networth here. But most of us have $10million+. If you create a category for that, most of us can answer that more accurately.
Member
User avatar
Nov 26, 2014
262 posts
48 upvotes
Quebec
My family networth is approx 100k. My wife and I are 31 years old. We have 2 boys, 4 and 2. We enjoy life as much as we can while saving as much as we can.
Sr. Member
User avatar
Oct 24, 2005
876 posts
123 upvotes
9"
2006 - Pepsi/Frito Lay Win Every Hour Contest - 1279 Entries - Loser!
Deal Guru
User avatar
Aug 8, 2012
10198 posts
3789 upvotes
BC
DDHLeigh wrote:
Jun 12th, 2017 1:44 pm
Hey everyone, I was wondering what sort of range we had on RFD for net worth. Lets just keep this nice and clean so play nice. For all purposes, we will define it as ALL non-financial and financial assets minus ALL outstanding liabilities. So in the case of a property, it'll be at the appraised value / amount it's worth minus any mortgage balance. Don't bother factoring in fees for the sale, etc. Just keep it simple. Generally, this is something that isn't asked to your friends, coworkers, etc but since we are all strangers we should have nothing to hide right?

This came up because I was thinking about preparing for retirement in the future / having the wife just stay home with our 2 young kids. Old Age Security (OAS) offers up to $578 a month and the Canada Pension Plan gives a maximum of $1,114 a month based on retirement at 65 in 2017. Most people aim for the magical 1 million mark. Are we in this day and age trying to save to much?
You are missing a category for negative net worth.
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Deal Addict
Jul 11, 2008
3991 posts
1273 upvotes
$1M is too little nowadays... $10M... is the magic mark..
Deal Addict
User avatar
Sep 22, 2012
1765 posts
1031 upvotes
Richmond Hill
Definitely negative net worth, thanks to RFD.
Deal Addict
Jan 21, 2014
1966 posts
453 upvotes
where is $1,500,001.00 - 1,999,999.00?
[OP]
Deal Addict
Jun 20, 2011
1360 posts
373 upvotes
VANCOUVER
mkl38s wrote:
Jun 12th, 2017 5:32 pm
where is $1,500,001.00 - 1,999,999.00?
Good catch :( Polls only allow 10 options. I was messing around with the options and I missed that...
Sr. Member
User avatar
Mar 9, 2012
716 posts
215 upvotes
KITCHENER
DDHLeigh wrote:
Jun 12th, 2017 6:16 pm
Good catch :( Polls only allow 10 options. I was messing around with the options and I missed that...
Now you why the majority of us can't reply!!!
Member
User avatar
Oct 19, 2016
347 posts
109 upvotes
Toronto
So far theres 7 votes with Net Worth over $3m ... are those real votes or fake ?
[OP]
Deal Addict
Jun 20, 2011
1360 posts
373 upvotes
VANCOUVER
mrtrump wrote:
Jun 12th, 2017 9:30 pm
So far theres 7 votes with Net Worth over $3m ... are those real votes or fake ?
I'm guessing a couple are, but who knows. Being an anonymous forum I don't see why anybody would want to lie. It's nice to see a decent spread among the groupings.

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