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re: 100K Net Worth
Posted on 7/29/15 at 4:00 pm to FlyingTiger85
Posted on 7/29/15 at 4:00 pm to FlyingTiger85
So according to your logic...
Person A has $100,000 in a bank with zero liabilities and rents.
Person B has $100,000 in a bank and takes $50,000 to put a down payment on a $250,000 house.
Person A has a net worth of $100,000 and person B has a net worth of negative $150,000?
Person A has $100,000 in a bank with zero liabilities and rents.
Person B has $100,000 in a bank and takes $50,000 to put a down payment on a $250,000 house.
Person A has a net worth of $100,000 and person B has a net worth of negative $150,000?
1
Posted on 7/29/15 at 4:02 pm to TigerTatorTots
The value of the house would be included for person B
$50,000 cash
+250,000 house
300,000 in assets
-200,000 loan on house
$100,000 net worth
$50,000 cash
+250,000 house
300,000 in assets
-200,000 loan on house
$100,000 net worth
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