/biz/ - Business & Finance

>>53925191
>25
>$120k
>No sex in 2030 days

>>53925191
>age 31
>doctor
>90. percentile

Feels good bro

>>53925191
>90th percentile net worth
>10th percentile social life

>>53925191
demoralization thread. fuck off

>>53925191
30-34 90th percentile

just owning a decent house puts you there, as naïve as biz is about money and thinking they don't have much most people my age don't own their own house.

A bit higher than 75th percentile. And I'm a rentlet. If I was a pre-2020 homeowner would probably be 90th percentile.

>>53925191
>99th percentile
nice

>>53925191
i dont give a shit

>>53925268
A mortgage isn’t owning a home. The bank owns it. Should put you negative net worth.

>27
>Net worth about $620k
It was about $1m before I got hammered in the stock market last year. Yes, I was invested way too risky but that's what it takes to grow your net worth at a young age

>>53925438
Any mortgagecel in the thread MUST deduct the cost of their mortgage.

>>53925458
Kek, imo you don't need to. Mortgages aren't true debt like a student loan in the sense that they instantly become equity as you pay it off. If I have $500k in a brokerage account and a $500k mortgage why should I say my net worth is 0? You can instantly pay the mortgage off and your net worth becomes $500k. Or you can just ignore the mortgage and your net worth is still $500k.

>>53925191

90th percentile. that jump from 30-34 to 35-39+ is insane btw. i mean it doubles for everything. the decade between 30 and 39 seem like an important point in life financially. i feel that every day. i feel like if i dont make it somewhere in this decade of my life i'm resigned to wage slaving for the rest of my days.

Tfw 85th percentile in 25 to 29 group

>>53925519

moron, if you owe 500k on a mortgage and have 500k in a brokerage account, your net worth is exactly 0. all you do is add the EQUITY in your home. so if you have 100k equity on that 500k your net worth is 100k. people that 'own homes' (i.e. have mortgages) are the fucking worst to talk to about net worth. its like a tradie who bills out 500k in business a year but doesnt tell you he had 400k in costs. get real. money in a brokerage account is MUCH more real than your equity and mortgage

>>53925191
Where are the negative numbers?

>>53925519
>If I have $500k in a brokerage account and a $500k mortgage why should I say my net worth is 0?
You count the value of your house as an asset.
If you have $500k in stonks, $500k mortgage on a $600k house your net worth is
500k + 600k - 500k = 600k

If you pay it off with the brokerage money then it's just 600k from the hosue.

>>53925191
>26
>75+ percentile
>decent looks
>khhv

>>53925191
>>53925213
This is 2013 data, the latest update was in 2019

>>53925561
Your 20s are setting yourself up for success in your 30s. The compounding of smart work and smart decisions in your 20s begins to really separate the K selected from the r selected populations.

>>53925191
mfw i'm top 1% but still impossible to find a gf

>but if i was a top 1% looks chad i'd be drowning in girls
why is life so unfair bros

>>53925895
(and no im obviously not talking about a sugarbabe, i mean a loving gf)

>for your age
reminder that wealth vs age is cope

>>53925191
50th percentile. 28. I just got out of the army.

>>53925191
>35
>About $300k
Somewhere between the 75th and 90th percentile

>>53925232
That’s pretty dam good considering you were in school for pretty much your entire 20s and just recently starting your career

>>53925438
I DO own my home.

>>53925438
This is the second time today that I've seen someone on /biz/ (incorrectly) say that mortgages mean you have a negative net worth.
It's a good reminder that these are the same people commenting on crypto, the stock market, and the economy in other threads, so you shouldn't take their word at face value.

>>53927450
A mortgage is debt.
A home is an asset.
Debt is a negative not a positive.

>>53925916
>net worth correlates with age until you're a septuagenarian
>this is cope

>>53925191
>Be in 99th percentile
>Still have to wagecuck and feel enslaved

10 mil is the minimum to live the life you want

>>53927484
Yeah, and guess how much the asset is usually worth.
Spoiler: it's pretty close to the cost of the mortgage

>>53925191
>age 32
>90th percentile
>married, one child
>taking a year off
>going for MD next year at top 5 school

I don't know how I got here, and I'm always afraid it will get taken away.

>>53927612
Unless you're underwater on your mortgage

>>53927831
If you want to throw in those cases, you can include the opposite direction where the home value appreciates beyond the mortgage value.
Point being: that anon is incorrect that the bank owns the home. You own the home. It's in the deed, it's in the county registrar, in every legal sense it is in your name. It's an asset fully owned by you. What the bank owns is the debt, and the house is the collateral if you are unable to pay the debt.

tfw 90th percentile just because I bought a cuckshed two years ago
literally and unironically
the clown world is accelerating

>90th percentile
>work in a high school

Thank god for crypto

no, what's cope is pretending if you're poor for your age today you're going to be able to "catch up" in time.
the most important years of wealth growth these days are in your early-mid 20s. it's not the 60s anymore.

>>53928039
>>53927505

Bait thread ignore.

>>53927484
now apply this logic to first world countries that are in debt and see how dumb you sound

>>53925191
>50th percentile 30-34
>have only been working for 2 years after playing vidya my entire 20s

>>53925191
How the fuck is there such a huge jump from 40-44 to 45-49?

I’m at 600k at 28 and I could reasonably hit about 4.5 mil by mid 40’s at my current income/savings rate/7% real returns. Most of this is in reach for me actually, assuming I can keep my income at current levels. I put 10k/mo into investments

>>53928349
Might have been a generational thing like before recession and after some crucial time period where a certain gen cashed in huge vs another got assfucked I was thinking similar question

>>53925191
75th percentile, makes since thats what my IQ is and standardized tests and shit like that usually was

>>53927484
>>53927450
pretty much the first thing you learn in accounting is
assets = liabilities + equity, therefore, equity = assets - liabilities. replace equity with net worth.

>>53925191
90th percentile

>>53925232
similar but with no advanced degree and no (((mortgage)))

>>53927484
>home is an asset
Only if you're renting it

>>53925458
yeah that's how i'm gonna calc my NW when i buy

>>53925519
theoretically true but it's still (((debt))) like it or not

>>53925191
Nice try, IRS

>>53928039
>source
>my asshole

>>53929723
>source
yeah just wait until you're nearly dead to start becoming wealthy when you could have done that in your 20s. great plan.

>>53929252
I think the real retards are the ones who think they made it but their homes are 95% LTV with required home insurance

>>53925191
i fucking poor

>>53925268
Lmao your net worth doesn’t include the amount you still owe the bank.

I own my home outright so even tho I lost all my $ trying to trade I’m still in 90th pct. Feels good xD

>>53929863
the correct calculation is mortgage amount = negative net worth
value of house = 0 (until you sell it)
the vast majority of people are in the red

>>53925191
90th percentile, but only because of owning real estate lmao

>>53925191
>7m jump from 40-45 to 45-49
at least make it more believable retard

>>53925191
>tfw not in 99th percentile

>>53929919
I don’t believe the value of a house is 0 until you sell it… there’s a housing market. We’re not talking about liquid cash here we’re just talking about net worth.

>>53929919
the correct calculation is market value of home less debt you stupid fucking nigger

I'm rich and have no friends. My last friend has become a transgender weirdo and gets offended when I say fag now. It's over.

>>53925191
At 25 I was where the 30-34 yr olds are at in the 90th percentile. Now I'm back to 11kish
I'm very pissed

>>53925191
Age 29, 50th percentile, I'm going to end it soon, I've lost the fight to find my place on this Earth, I don't belong here anyways.

>>53925191
>99th percentile net worth
>virgin
>no social life

>>53925191
32
400k

Not great but could be worse

>>53930576
Terrible

>>53925191
bout 92rd percentile.

>>53925352
>homeowner
>90th percentile
WTF IS WRONG WITH SOCIETY ?

>>53926239
His parents paid for his education and subsidized his living costs till he started working. Boy I bet that was difficult to achieve all on your own.

>>53928093
Countries can print money. Can you anon? No? Kys faggot midwit.

>>53930215
what you believe in isnt what the truth is my little gaylord

>>53925191
90th percentile Chad checking in.
Pushing those numbers, still got some time.

>>53929698
That's silly, you're silly.

>>53930330
Profit for profits sake will never make you satisfied, turn your mind to higher pursuits.

28, something like $350k

>>53925232
Age 28, PhD, and 90th percentile
Working two jobs trying to buy a home without Jewish debt

>>53932222
Only if you have a large portion of equity in the home already and you’re not yet 35. That’s pretty much the jist of it.

does net worth include assets like a home or vehicle?

>>53927999
Based anon, crypto made a lot of Chads good profit and I can remember raking massive gains on CAKE in 2020, and now I have eyes on FIL and SYLO with the same potential

I'm 90th percentile as a 28 year old and I feel poor as fuck. My income is kind of poor for what it is worth.

mfw i'm top 1% but still impossible to find a gf

>but if i was a top 1% looks chad i'd be drowning in girls
why is life so unfair bros

>>53925191
>25
>almost at the 90th percentile
Feels like I am going to stagnate here to be honest unless I am willing to hurt people

>>53925191
>31
>college dropout tradie loser
>90th
If i don't crack 1mil this cycle its ogre

>>53925244
Lol really? Most threads here are “if you don’t have 500k saved by 30 you are shit”

>>53925863
Yea I’m currently 32 and square on 90th percentile, but goal is $1 million by 40. If market returns over next 10 years are historical than I can get there by saving/investing 40k a year and not touching the other investments


From there you are in 40s and still “young” but have true financial flexibility. Not yet freedom, but can take risks, change jobs to something easier, etc.

>>53925191
terrible but I have 3 kids so at least there’s that much

>>53927980
Technically that would be included in net worth.

However, don’t trust Zestimatecels when doing these calculations. Houses are highly illiquid, with high transaction fees. Your mortgage being 250k and your home being Zillow estimate at 300k can say it adds 50k to your net worth, but the reality is it’s going to be a lot smaller than that compared to having 50k sitting in a brokerage

>>53925191
$120k savings and investments @ 33
i didn't start my gay and boring career until i was 29.

>>53935131
fucking layer 0 spaghetti code. when tokenized houses?

>>53925438
If your investments return more annually (4-5% in stocks) than your interest rate (literally everyone who bought in 2020-21) then you should have a mortgage and not buy it in cash, yes. There's a reason financial institutions don't buy their corporate real estate in 100% cash all the time, and it's because it's financially advantageous to put your money to work someplace else in certain scenarios.

For example, let's say you wanted to "buy a home in cash" currently. $400k 3/2 in a neighborhood at current prices. If you pay $400k + closing costs, you are looking at potentially a -0.5% contraction on the market value of your home every month, due to the market contracting currently (which will likely continue for a good while). That equals about $2k a month in your equitable net worth that you are losing. Sure, you aren't writing a check for that every month, but you're still paying for it one way or another over time. Let's say that trend plays out for a year, you will be losing $24k a year on a $400k+ investment, and still have idiots online who say you don't "own your house" because actually you pay property taxes on it still.

Now, on the other hand, let's say you make a 20% down payment on that same home ($80k + closing costs) and invest the remaining $320k in the stock market or some other asset, or just hold on to it because cash has been better than many investments recently due to market conditions. You will lose less money in the short term on your home and also have more money/stocks/etc to put to use in the future as the housing market continues to contract. Hence, the mortgage effectively saves you money over time when adding up all costs and expenses, buying in cash only saves you money when interest rates are exorbitantly high and the RE market isn't contracting

cont.

>>53935245
>>53925438
Despite the original name, mortgages aren't death sentences, the only way you will lose your mortgage is if you can't make a monthly payment on it, and if that's your concern then you're a certified poorfag who isn't even remotely close to considering purchasing a home in 100% cash to begin with. If you can't strategize a way to turn your money into more money, you simply aren't going to make it and will pay for that by having to work longer. But of course you won't absorb any of this, because you are a mentally hardened sperg who is persistently online.

>>53935245
Lot of cope to justify being a Jew slave kek

>>53935245
Interest rate math like this is how smart white collar people stay poor. They use it to justify dumb purchases on things like cars, home improvement, vacations , etc


If you use that money to make money then yea I agree

>>53925191
Apparently I'm in the 99th percentile for 2 age categories above mine. Pretty good.

>3x gap between 90th and 99th
I guess I'm probably around 95th with $725K NW at 34