Personal Finance

What is your net worth?

  • Last Updated:
  • Nov 30th, 2017 8:45 pm
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Poll: What is your net worth?

  • Total votes: 299. You have voted on this poll.
$0 - $50,000
 
39
13%
$50,001 - $100,000
 
21
7%
$100,001 - $200,000
 
38
13%
$200,001 - $300,000
 
25
8%
$300,001 - $500,000
 
40
13%
$500,001 - $750,000
 
30
10%
$750,001 - $1,000,000
 
25
8%
$1,000,000 - $1,500,000
 
27
9%
$2,000,000 - $3,000,000
 
15
5%
$3,000,001 +
 
39
13%
Deal Addict
Apr 19, 2010
1654 posts
453 upvotes
Sudbury
33M married to 31F with 3.5yr old son and 6 day old daughter

Net Worth = ~$900k
Live: Northern Ontario
Jr. Member
Jul 22, 2013
112 posts
14 upvotes
Not choice for negative? You must not heard of student loans. Lol
Deal Addict
User avatar
Aug 24, 2016
2648 posts
1350 upvotes
ace604 wrote:
Jun 12th, 2017 3:41 pm
You are missing a category for negative net worth.
Agreed.
Threads like this are pretty much useless for information anyway, because hardly anyone can commit to truth anymore.
Deal Fanatic
Feb 15, 2006
7073 posts
1602 upvotes
Toronto
coolintheshade wrote:
Jun 14th, 2017 4:20 pm
Threads like this are pretty much useless for information anyway, because hardly anyone can commit to truth anymore.
Ha, how shocking, for internet forums. I thought there really were many with $10M+ networth.Smiling Face With Open Mouth And Smiling Eyes
Deal Addict
Jul 18, 2016
1879 posts
688 upvotes
Arrgh wrote:
Jun 14th, 2017 4:33 pm
Ha, how shocking, for internet forums. I thought there really were many with $10M+ networth.Smiling Face With Open Mouth And Smiling Eyes
Oops, sorry. Missed that pesky little dash symbol. That's negative 10 million, not plus.

I'm sorry, but I consider polls of this kind to be silly. Its a given that there are many different levels of wealth in this country. Why do we need a poll to draw attention this?

I hit the $3 mil category. Am I worth that much? Of course, I am! There is a great intrinsic value to me that is worth well more than 3 million! :) :) :)
Newbie
Nov 15, 2016
30 posts
1 upvote
Mike15 wrote:
Jun 13th, 2017 1:38 pm
Hopefully billionaires know what "+" means.
Maybe they don't want be lumped together with poor single digit millionaires.
Deal Addict
Nov 24, 2013
4262 posts
1239 upvotes
Kingston, ON
MarkusX wrote:
Jun 14th, 2017 6:51 pm
Maybe they don't want be lumped together with poor single digit millionaires.
Image
Deal Fanatic
Feb 1, 2006
9276 posts
388 upvotes
MarkusX wrote:
Jun 13th, 2017 10:04 pm
Interesting, thank you! It would be good to now that figure. So far, we contributed around $200K with the university contributing roughly the same amount. I suppose there is some formula for that, but I doubt we can withdraw the entire $400K.
In a DB pension, your 'Commuted Value' would be the total of your contributions plus your employers, plus interest. But few people would be smart to pull the money out like that. The real value of your pension is the future income stream till you die. You can value it by looking at current monthly payout at 65 (in your year end statement, most likely), and then finding the cost of an annuity for the same income stream. You'll be blown away by the real value most likely. Well above $400k, for sure.
Deal Fanatic
Feb 1, 2006
9276 posts
388 upvotes
For the OP, how much you need to retire depends on how much you will spend! Most people can live comfortable on $40k-50k per year with a paid off house. If you are a couple and maxed CPP your whole lives, you could get $40k just from CPP/OAS. The problem would be divorce or spouse dying, then your income would drop. Long term care costs, if you wanted to save for that.

So how much extra to save is the real question. I'd plan for enough to cover income for 2nd person. Using the 4% rule, save enough for that amount. So if you want $20k for life from 65, you'd need $500k in a balanced investment portfolio to get that for life.

I'm generalizing, in case anyone wants to pick at the details.
Deal Addict
Feb 29, 2012
2654 posts
1423 upvotes
Richmond
psudolam wrote:
Jun 12th, 2017 10:56 pm
Another issue is that this net worth is for one person only (i.e., not including the other spouse's net worth).
What, I can't count all the money I invested in my spouse? But that's my biggest investment! :)
Member
Aug 7, 2014
374 posts
121 upvotes
Faith24 wrote:
Jun 15th, 2017 7:11 pm
What, I can't count all the money I invested in my spouse? But that's my biggest investment! :)
Spouse and children are big investments, sometimes with questionable returns...........
Smiling Face With Open Mouth
Banned
Jun 3, 2017
10 posts
2 upvotes
You guys are lying.

OP is asking how much you are worth. Half of your total net worth belongs to your wife.

So if you said $1 million, it's really $500k. Half is your wife's. Not yours.
Jr. Member
May 13, 2015
121 posts
47 upvotes
Manotick, ON
Net worth without age doesn't tell alot...

$500k at 25 = super successful

$500k at 65 = almost below avg
Deal Addict
Feb 9, 2009
4945 posts
2488 upvotes
twinpeaks181 wrote:
Jun 15th, 2017 9:00 pm
You guys are lying.

OP is asking how much you are worth. Half of your total net worth belongs to your wife.

So if you said $1 million, it's really $500k. Half is your wife's. Not yours.
Depends. How much did you bring into the marriage? (she doesnt just get half like that)... if both brought nothing then sure half.
Deal Addict
Nov 2, 2013
4943 posts
982 upvotes
Edmonton, AB
fccoup wrote:
Jun 15th, 2017 9:33 pm
Net worth without age doesn't tell alot...

$500k at 25 = super successful

$500k at 65 = almost below avg
And without bank of mom and dad... tons of $1M+ net worth people in GVA because mom and dad bought them their condo/house or at least gave a huge downpayment. There without that home ownership is basically a dream as a normal person would almost have no chance unless he/she started an unusually successful business.

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