My net worth is my home and its contents, my car, my investments and any cash. I live on my pensions which expire when I do.
My net worth is my home and its contents, my car, my investments and any cash. I live on my pensions which expire when I do.
As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”
Double post
As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”
So it tells you if you are on target for your age and income? So if you require a 50000 income, and you are 50. then is your target asset 250k?
Then if you still require a 50,000 income, and you are 70, your target is 350k?
Or is it your current income while working?
And if you can only withdraw 4% a year on 250000, that is only 10k? And at 70. in same scenario, it is only 14k?
Or is it all about how much they want you to save by a certain age to be on track?
Tybee - I was going to post a link to a retirement calculator on Vanguard's site that I used yesterday but I'm not able to access it now. I suspect too much traffic on the site is the issue. I'll post it for you when I can.
bae - 4500 sq. ft.... don't you get lost?
Thanks, Geila!
I do, really. I essentially now just live on the main floor, and use one of the downstairs floor rooms for watching movies. The upstairs floor is now the domain of the cat basically.
So I'm down to 1500 sq ft or so, in reality. Still, so much cleaning and maintenance and expense for the unused space.
I count our home as part of our net worth because it is by definition, but I don't really consider it part of our investment portfolio, if that makes any sense.
It all makes sense! For some who think they might sell and downsize and use the money for investment nest egg, including it certainly makes sense. I think ours is so low value that it's simpler to disregard it under the theory that you have to live somewhere. Of course, technically, it is part of one's net worth.
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