What is your net worth? - Democratic Underground

Zenlitened

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Wed Jan-05-05 04:35 PM
Original message

Poll question: What is your net worth?

Just as a companion to the polls regarding debt, what is the total value of your assets? Examples: home (value minus mortgage balance), car, technology, savings, investments, life insurance policies, etc.

Once you climb out of debt, it's quite likely your net worth will begin to increase. You've successfully kicked the spend-spend-spend habit, and can now put money into savings and investments, or purchasing a home (which will put you into mortgage debt, it's true, but is still a great investment over the long-term).

So if you're trying to conquer debt, keep at it -- you're doing something good for yourself! :)

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da_chimperor

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Wed Jan-05-05 04:36 PM
Response to Original message

1. I'd say at least 200,000 if I were to sell off all my vital organs.

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Zenlitened

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Wed Jan-05-05 04:39 PM
Response to Reply #1

3. But think of the funeral costs!

No, no, we'd much rather have you around and taking a slow-but-steady approach to paying off debt! :D

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mhr

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Wed Jan-05-05 04:38 PM
Response to Original message

2. Unemployed 55 Months - I've Been Negative For Years Now

eom

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Jack_Dawson

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Wed Jan-05-05 04:39 PM
Response to Original message

4. Does Home Equity count?

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Zenlitened

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Wed Jan-05-05 04:44 PM
Response to Reply #4

5. Absolutely. For a lot of people, home equity...

... makes up the biggest percentage of their net worth.

That's why the banks are so eager to offer us home equity loans. Cash in your assets, blow it all on vacations and furniture and other crud, and viola! your net worth has been transferred to the banks!

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forgethell

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Wed Jan-05-05 04:58 PM
Response to Original message

6. $0.02,

that's the two cent's worth I'm constantly offering around here.

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LSK

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Wed Jan-05-05 05:03 PM
Response to Original message

7. id guess $65k - $70k

Edited on Wed Jan-05-05 05:05 PM by LSK

Could sell my home for $40k net, cars worth $20 probably and $5k - $10k in this and that (money in checking/savings/sell furniture, computers, etc).

Less than 2 years ago I had $50k in the bank but then I put 20% down on a home and bought a car.

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