For the first time in my life, I have a positive net worth. I have more assets than debt. I just logged into Mint and checked it and I can’t believe it but it seems to be true.
For a long time, my student loan debts were much higher than the sum of my 401k, liquid assets, and investments. I’m not even counting my material assets (Electronics, car… that’s about it) that could be liquidated if needed.
Woohoo! I’m sorry if this comes off as pompous bragging because I don’t mean it that way at all. I’m just honestly surprised that I have more money to my name than what I owe.
Congrats! I’ve nearly paid off my mortgage (4 more years), and have enough in my retirement accounts to do so many times over. It’s so nice to no that if something happens at least I’ll have a roof over my head and a place for my dogs, cats and horses.
Also, the whole thing about the beggar in Calcutta made me laugh, I didn’t see it as a jerkish thing at all. Back when I was a high school teacher with tons of debt, making relatively little money, I would see panhandlers and think how my net worth was way, way less than theirs (as long as you didn’t consider things like lifetime expectation of income and whatnot).
But yes I do realize there are many unfortunate people in the world and I don’t mean to be insensitive. I got to where I am with a lot of luck (being born into the family that I was born into with no health problems, etc, etc), and a fair amount of hard work on my part as well. I will keep that in mind that not everyone is as fortunate for many reasons, and donate to causes as I feel appropriate. I already donate to several causes that I feel help the community, and I will continue to do so.
So you’ve been a teacher, philanthropist, hard worker and have established a 401k, liquid assets, and other investments. Regardless of your financial situation you sound pretty solvent to me.
Congratulations, you have crossed a very important fiscal line. A lot of people don’t bother keeping track of their net worth, but it’s very motivating, isn’t it?
Congrats man. Cool that you crossed that line, and kind of even cooler that you are self-aware enough about your situation to know that you crossed that line.
Just out of curiosity, how does life insurance and Death and Dismemberment go into figuring out your net worth? Is it even a factor? If I died today (especially if I died on the job), my estate would be worth way way WAY more than I am alive. Is that part of a person’s net worth?
Congratulations, drewtwo99. I’m very envious. I had a positive net worth until my divorce. I’m now working a plan that should restore it – in 5 years. :eek: And, as others said, good on you for even thinking in those terms. So many people don’t.
I’m now working a plan that should restore it – in 5 years. :eek: And, as others said, good on you for even thinking in those terms. So many people don’t.