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Message
re: Net Worth at 30
Posted on 7/30/13 at 12:41 pm to Anfield Road
Posted on 7/30/13 at 12:41 pm to Anfield Road
quote:
The only way you get zero or negative net worth from your home is if the value of your home decreases such that its value is less than the remaining amount that is owed.
Well, you just answered the question in my last post. Thanks.
1
Posted on 7/30/13 at 12:58 pm to Zach
Zach - anything you owe is a liability. It doesn't matter if its credit card balance, student loans, a mortgage, car loan or $50 to your best friend. All of your assets will fluctuate as to their value - stocks, 401k, house or other properties.
I used to run the loan department of a bank and helped people put together their financial statements - you list all your assets on 1 side and liabilities on the other. Then you subtract "what you owe" from "what you have" to get your net worth. I never include anything such as furnishings, jewelry, cars, beanie baby collection. Usually not worth what you paid for them.
I used to run the loan department of a bank and helped people put together their financial statements - you list all your assets on 1 side and liabilities on the other. Then you subtract "what you owe" from "what you have" to get your net worth. I never include anything such as furnishings, jewelry, cars, beanie baby collection. Usually not worth what you paid for them.
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