Demographics Study - what’s your net worth?

[scoti]

A 401k is also subject to gains. And if you've been in it for the last year or so, you should have seen quite the gains overall lately. A 401k is considered an asset, thus it should be included in net worth. It's like any asset, subject to market conditions. A G-body worth $4K today, may be worth half that tomorrow. Or twice that next week. Everything is negotiable. And when you start distributions with a 401k, you'll find out quick that the taxes impact your net number!! 🙂

How fast you can liquidate an asset is an entirely different animal altogether.

In general, sit tight with a 401k over the long haul and you shall be rewarded handsomely when you pull the parachute to retirement.

My pops is 77 & still doing 40hr weeks lol & his dad was the same. My dad was going to retire last June & then my mom passed in May so he kept working. My only hobby is the automotive scene so it's not like I'm anxious to travel the globe other than for car related events (Bonneville, TROG/East Coast, Grand National Roadster Show in Cali; Pike Peak.... if they're even around).

I'm probably going to do some restructuring of the funds by years end. I don't want the market to kill off the gains I've worked hard for so I'm going to move some $$ over to a better/secure option since that's what I'd consider my 'reliable' retirement income if I actually retire.

 

[ck80]

A 401k is also subject to gains. And if you've been in it for the last year or so, you should have seen quite the gains overall lately. A 401k is considered an asset, thus it should be included in net worth. It's like any asset, subject to market conditions. A G-body worth $4K today, may be worth half that tomorrow. Or twice that next week. Everything is negotiable. And when you start distributions with a 401k, you'll find out quick that the taxes impact your net number!! 🙂

How fast you can liquidate an asset is an entirely different animal altogether.

In general, sit tight with a 401k over the long haul and you shall be rewarded handsomely when you pull the parachute to retirement.

Some assets can't be pegged on value until liquidation as well. I voted mine excluding those.

Have a couple things pending, have offers on the table where my cut is exceeding 350k. But we're of the opinion we could be able to get to a point where I'd see north of 750k. So as of today they're still worth 0 because everything could fall apart.

 

[g0thiac]

Enough to make me highly question some of my actions as a younger guy lol.

 

[jiho]

Or are people only adding what they own and forgetting to subtract their debts?

Or adding what they see after smoking a few from Tegridy Farms?

 

[64nailhead]

My wife knows I’m worth more dead than alive. Kinda scary sometimes…..

I told mine that she better not wait until a day or two before my 75th birthday to have me whacked because that will seem to obvious to the fraud investigators that the insurance company will send out.

I figure I'm safe until 73, then I'll have to keep closer track of her.