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re: Are you in the 1% club?
Posted on 1/25/15 at 7:22 pm to northshorebamaman
Posted on 1/25/15 at 7:22 pm to northshorebamaman
For all the UHNWI on this forum, they have to know that their hedge fund/PE/VC investments are illiquid and can only be redeemed during certain times of the year, with limits on the amount that can be redeemed.
0
Posted on 1/25/15 at 7:24 pm to OFWHAP
quote:
I'm not sure how much I trust real estate and jewelry "appraisals" these days. How many people on this site would be considered accredited investors?
As for commercial real estate you can also work off of the numbers for the cash flow of the investment.
Posted on 1/25/15 at 7:26 pm to VetteGuy
quote:
If I have a mortgage free house worth 750, but no other savings, what do I really have?
You have to live somewhere.
You could (hopefully) cash out of the house if need be. I respect real estate as an investment much more than I do stocks, bonds, etc. Not saying that your house is the only thing you should be invested in. Commercial real estate makes a great place to park and grow your money IMO.
Posted on 1/25/15 at 7:37 pm to VetteGuy
quote:
I honestly think it's dumb, form a real-life standpoint, to include a house in your net. If I have a mortgage free house worth 750, but no other savings, what do I really have? You have to live somewhere. Also, people tend to overvalue cars and personal belongings a great deal.
It is dumb not to include it. You have a fricking asset that can be liquidated if necessary or desired.
Example: Your home is not leveraged, you have no children at home, and you want to retire. You sell the house for seven hundred, move somewhere less expensive, and buy a cheap place. This is pretty common.
Posted on 1/25/15 at 7:38 pm to nolanola
I don't disagree, but I think a truer number for retirement purposes is something I call "liquid worth".
That is, what do I own that is making me money?
Commercial real estate, stocks that pay dividends, CDs, etc.
To realize the value of a house, you have to sell it. It will generally appreciate, but after you sell, you hve to find another place to live.
That is, what do I own that is making me money?
Commercial real estate, stocks that pay dividends, CDs, etc.
To realize the value of a house, you have to sell it. It will generally appreciate, but after you sell, you hve to find another place to live.
Posted on 1/25/15 at 7:43 pm to VetteGuy
quote:
To realize the value of a house, you have to sell it. It will generally appreciate, but after you sell, you hve to find another place to live.
That is when you need to travel the county in your RV.
Posted on 1/25/15 at 7:44 pm to nolanola
I'll be too damn old. 
Posted on 1/25/15 at 9:14 pm to OFWHAP
quote:
So all your retirement has come from an artificially inflated stock market. You literally started investing at the dip in 2009 and are now riding recors highs.
I would say 40% of my 401k is money I contributed. My company matches up to 7% so that has also added a good bit, let's say 30%. I typically average about 8% growth per year on my moderate aggressive goal. Really not much of it is tied up into stocks, don't even own too much of my company stock, mostly mutual funds.
Main point is if you contribute like you're supposed to, you should be near six figures by the time you're 30 in your 401k. If not you either are investing poorly or not making much money. Looking at compounding interest the account will grow substantially 20 to 30 years from now.
This post was edited on 1/25/15 at 9:16 pm
Posted on 1/25/15 at 9:24 pm to Tigerstudent08
quote:
Main point is if you contribute like you're supposed to, you should be near six figures by the time you're 30 in your 401k. If not you either are investing poorly or not making much money. Looking at compounding interest the account will grow substantially 20 to 30 years from now.
The HCE threshold is pretty low, so I am sure most of the posters here were handcuffed with their contributions.
Posted on 1/25/15 at 10:36 pm to The Third Leg
Not worried at all. Hillary gon take all the 401k and 529 money and give it to all us that helped built it in the first place.
Posted on 1/25/15 at 10:48 pm to ell_13
Far too many people waste the best years of their life by saving all their money for their elderly years, when you can't enjoy much of anything. Spend your money when you're young - you can't take it with you. Fools. All of you.
This post was edited on 1/25/15 at 10:51 pm
Posted on 1/26/15 at 1:27 am to Tigerstudent08
quote:
Seems really low. Not even thinking about home equity, savings/checking accounts, I would imagine 401k accounts must be near that as long as you've been putting in there for 15-25 years. I've been putting 10% in my 401k for 5 years (28 years old) and already it's amazing how fast it piles up.
I have been investing in the market for about 38 years, and am currently retired, and living off the investments. Once you have experienced a few market crashes like October 1987, the 2000 dot com crash, 9/11, and 2008, it becomes apparent that trying to speculate what a retirement account will be worth 10, 20, 30 years in the future is a futile effort. The best thing you can do is what you have already started, invest consistently over a long period of time, and try to increase your percentage up to the limits allowed as your salary increases.
Posted on 1/26/15 at 1:42 am to nolanola
quote:
....travel the country in your RV.
Doesn't this look like fun 2,000 miles away from one's attorney, insurance agent, body shop, hospital, support system and docs?
SMDH
Posted on 1/26/15 at 3:53 am to siliconvalleytiger
What's surprising is that the UK has 2.9m, which is fricking huge considering the total population and that the government is basically socialist.
They're probably all in London, too.
They're probably all in London, too.
Posted on 1/26/15 at 8:14 am to CajunAlum Tiger Fan
quote:
If you think $800k is low net worth, you spend too much time on the OT or with your financial peers and don't realize how hard this is for most people in this country. Think about average non baller incomes.
That's really not hard at all. $200 a month for 40 years would put you close to a million. Problem is people think they have all the time in the world so they don't start saving when they get a job. Blow their money and say, "I'm young, I have time for that." But then wonder why they don't have enough money at retirement.
Posted on 1/26/15 at 8:15 am to siliconvalleytiger
yeah, I got patched in last week.
SAMCRO
SAMCRO
Posted on 1/26/15 at 12:57 pm to LSUtiger89
I would definitely agree with this. Although I feel that a lot of millennials are more prepared and have began investing earlier than other generations.
Companies matching contributions also helps people to contribute because they realize they are throwing away money if they don't contribute to cover the match.
Companies matching contributions also helps people to contribute because they realize they are throwing away money if they don't contribute to cover the match.
This post was edited on 1/26/15 at 12:58 pm
Posted on 1/26/15 at 6:08 pm to foshizzle
quote:
What's surprising is that the UK has 2.9m,
There are about 65 million people in the U.K., one-sixth of the U.S. population and we have 18 million. Pretty much the same numbers as the U.S. per capita.
Real Estate in the U.K. Is expensive in the right areas. They have a much greater defined sense of class based on birth there still than we are used to here. Sixty years of moderate socialism can't wipe out landed gentry.
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