/biz/ - Business & Finance

[Anonymous No.49970864]

Is your net worth above average for your age group?

[Anonymous No.49970878]

>>49970864
yea

[Anonymous No.49970885]

>>49970864
noh

[Anonymous No.49970889]

delet dis

[Anonymous No.49970896]

>>49970864
Maybe.

[Anonymous No.49970929]

Europoor here.

Net worth 120k at 29. Got lucky in tesla and converted it to a mortgage. Let's see how much I'm fucked as my property devalues.

[Anonymous No.49970931]

>>49970864
>If you have $100 in your bank account and no debt you are worth more than the average 30 year old burger
Amazing

[Anonymous No.49970968]

I'm 30 and my only assets are my large format camera gear. I'd guess maybe in total I'm worth somewhere between 15 and 20k CAD, assuming best prices on the market for some of this shit. Maybe 30k if you consider the stockpile of discontinued film I'm sitting on. Someone kill me.

[Anonymous No.49970984]

>>49970864
no i'm poor by /biz/ standards

[Anonymous No.49971033]

Imagine being 39 and having under 70k in assets... WTF

[Anonymous No.49971064]

>>49970929
No one cares about your life story

[Anonymous No.49971077]

everyday i thank god i am not average

[Anonymous No.49971118]

>>49970864
average 22 yo is already 40k in debt? wtf is wrong with burgers? is that statistic all from college debt?

[Anonymous No.49971821]

>>49970864
I have 4 million dollars and I'm 31.
no way the average is 2000 bucks

[Anonymous No.49971864]

>>49971821
image is just a poorfag cope to not commet suicide

[Anonymous No.49971894]

>>49970864
yes. thank god. more than twelve times average, roughly. hard to be certain because it stops at 39 but i can guess

[Anonymous No.49972007]

>>49971118
Yes, that's the current meta right now.

If you're not a cuck and you're a WASP you can go as a tradie and make a lot of cash

[Anonymous No.49972066]

I know burgers take out student loans so the negative balance seems reasonable, but a house loan some years later should be way more than student loans or do they keep renting all their lives?

[Anonymous No.49972091]

>>49970864
Seems to be above, but not much

[Anonymous No.49972101]

>>49970864
Wtf, for my age (31) the fucking average is fucking 2k$???? Wtf bros...wtf is wrong with normies.

[Anonymous No.49972122]

>>49970864
This is not the average for the age group. This is the top 35%.

[Anonymous No.49972136]

>>49970864
More than double.

[Anonymous No.49972167]

>>49970864

How come I was born in fucking 2003 and have more net-worth that those that GRATUADED in 2003? Are they fucking mentally handicapped or something?

[Anonymous No.49972168]

>>49970864
This chart is two years out of date faggot

[Anonymous No.49972221]

>>49970864
Lmao other people my age seem to be entirely fucked because they fell for the student loans meme.

[Anonymous No.49972237]

>>49972066
Net worth is assets minus debt
So if your house is worth 600k and your mortgage is 500k that puts you 100k in the green

[Anonymous No.49972238]

>>49970864
it's above the entire table

[Anonymous No.49972259]

>>49972167
That is only reason you have that wealth. Do you really believe free money is a real thing without them?

[Anonymous No.49972266]

>>49970864
Yes well above that thankfully

[Anonymous No.49972292]

>>49970864
Way above avg. according to this chart i already made it.

[Anonymous No.49972317]

>>49970929
good shit anon, proud of you. Also property will always go back up so just count it as an asset.

[Anonymous No.49972341]

>>49970864
>36
>house is worth about $800k
I only have about 5k in the bank, mostly because I've been throwing it all into my mortgage to get as much paid off as I can before the interest rate hikes keep hitting.

[Anonymous No.49972623]

>>49970864
>22
>30k

never worked a second in my life, started crypto with $500 and created my own community in 2021
a bit disappointing for most but it's a decent bit of money for me

[Anonymous No.49972666]

>>49972623
30k is really fucking good at your age. Invest it smart and safe, go work and dca more, you will be financially independent at 30. Aka diversify into stocks, bonds, gold, crypto, reits...

[Anonymous No.49972672]

>>49972122
Bananaland that median is probably lower

[Anonymous No.49972682]

>>49970864
If I don’t count my student loans, yes.

[Anonymous No.49972810]

>>49970864
Yes
>39 M
>$65M

[Anonymous No.49972823]

>>49970864
Most of my coworkerers :

>20k student debt
>3k credit card debt
>40k car note

Paying interest for years sometimes decades kek

[Anonymous No.49972842]

>>49972682
>If I don’t count my student loans
You're a dense one, aren't you
No wonder the US has so much student debt

[Anonymous No.49972852]

>>49970864
yeah I am, so what, we will all be poor soon anyways.

[Anonymous No.49972874]

>>49970864

Yes. I have around a $40,000 car that I put $500 down on and a $3000 TV that I put about $100 down on, so I have 43k of assets right now financed at only 12% APR. I should be able to pay these assets off in full in 5 years.

[Anonymous No.49972887]

I decided that I was going to calculate my NW every quarter after the quad witching. Right now I'm 32 and just passed $38k, no debt, but don't have any property or vehicles either, but I have about 9 asset classes

[Anonymous No.49972901]

>>49970864
I never really got net worth. If I got a 150k loan for an appartment,, now worth 200k paid off 30k, is my net worth -120k, or minus -80k? Andhow fo you factor revenue genrating liabilities.
I own an ppartment bought 135k in 2019, Rough estimate wortk180k now, so thats stil a negative net worth, but it's a rental that covers mortgege+maintenance+tax+some more, so it's technically a liability, buy it's a net positive as far as monthly/yearly balance goes. I live in ahouse that I'm repaying, but mortgage is lower than it would be to rent the place; so it's a liabilty cmpred to someone paying more per month as a renter? maybe I don't understand it properly, but it seems like a very misleading metric

[Anonymous No.49972909]

>>49972887

>and just passed $38k

Cool, how much do you have down on that and what are your payments? I am about the same and got really low pmts. Like I pay maybe $300 a month for my assets.

[Anonymous No.49972915]

>>49972901
You calculate the future value of assets and cost of debt to make a forward-looking projection. This involves logarithmic math, but the concept is pretty simple

[Anonymous No.49972939]

>>49972909
>Payments
Did you mean to reply to >>49972874? I said I have no debt. That's the market of all my assets if I had to immediately liquidate them at full value. I'm been almost living the rice and beans meme for 6 years and saving money. I have cash, a mutual fund, trading cards, silver, crypto, RRSPs, and equity accounts

[Anonymous No.49972948]

>>49972874
>I have around a $40,000 car that I put $500 down on and a $3000 TV that I put about $100 down on, so I have 43k of assets right now financed at only 12% APR
>Only 12% APR

[Anonymous No.49972974]

>>49972901

Seriously? Net worth is literally assets - liabilities at current market price. For your apt:

120k liability (left on loan)
200k asset
---
80k assets

> Andhow fo you factor revenue genrating liabilities.

Revenue doesn't play role in "net worth" calculation.

>>49972915
>>49972939

Ignore the two posts you quoted. They are for the special folk.

[Anonymous No.49973000]

Are pensions included in this calculation?

[Anonymous No.49973035]

>>49972915
"future value of asset" sounds very subjective, current value of asset already is more of a wet-thumb in-the-air assesment, and can value wildly, and that doesn't answer how revenue generating liabilities are to be accounted;
and how do you estimate cost of debt? if debt was incurred at a lower rate than current, do you count it as a negative cost (i.e debt asset) ?

[Anonymous No.49973052]

>>49971821
You are larping

[Anonymous No.49973062]

>>49972974
>>49972974
>Revenue doesn't play role in "net worth" calculation
so someone 1 million in debt with 100k revenue per month has a lower net worth than a renter with no debt no asset spending half his salary on rent?

[Anonymous No.49973075]

it's higher by -100x, which is why da goyim are gonna come after me in da next shoah

[Anonymous No.49973100]

>>49970864
> be 36
>25k to my name, absolute poorfag
>only 10k less than avg
Thought it was going to be a lot worse

[Anonymous No.49973109]

>>49973062
By definition, yes. But that's why banks will review your current employment and income statements to determine whether they should risk giving you a loan

[Anonymous No.49973167]

>>49973035
and to add a layer, if interest<inflation how do you account forit?
I borrowed at 1.07%, my cash is lowsng more value sitting in my account than if I had borrowed it and was repaying it at that rate
rate having borrowed it

[Anonymous No.49973187]

>>49973062

>so someone 1 million in debt with 100k revenue per month has a lower net worth than a renter with no debt no asset spending half his salary on rent?

That's never going to happen "irl". An asset generating 100k/month will be priced via something called a "Discounted Cash Flow" model. A semi-stable business or RE asset generating 100k a month will be priced at between 2.4 million and 3.6 million on avg, without taking into account a bunch of other factors.

So you have:
3.6mil asset
1 mil debt
---
2.6 mil net worth. But yea, if you have a fairy that blows you and gives you 100k a month, your net worth is -1mil.

[Anonymous No.49973197]

>>49973109
so banks don't actually use net worth as a metric? seems coherent, I've worked in merger and acquisition, and just using net balance (net worth for this thread)seems like the kind of concept plebs use to feel like they get it, but it's worthless

[Anonymous No.49973216]

>>49973197

>I've worked in merger and acquisition

And you are asking >>49973167 how inflation reduces the cost of debt? Doubt.

[Anonymous No.49973226]

>>49973187
He never specified the profit it was generating to the owners. He could be spending 110k to generate 100k in revenue as a startup which is why he has so much debt in the first place. Most businesses that require that much debt are bad businesses because the business should pay for itself and high costs will rarely ever.

[Anonymous No.49973250]

>>49973187
ok for business accounting, but my point was that the concept of "net worth" precisely doesn't factor for all of this, which would make it useless, just adding/substracting asset and liabilities while disregarding revenue/cash flow, inflation, lost earnings, etc.. is useless when assesing financial situation

[Anonymous No.49973275]

>>49970864
90% of people live in poverty, middle class is meme

[Anonymous No.49973278]

>>49972341
Home equity shouldn't count toward net worth.

[Anonymous No.49973279]

>>49973250

See: >>49973187. Assets generally represent value or future cash flow.

>>49973226

Not sure what your point is, genuinely.

[Anonymous No.49973284]

>>49973216
i'm asking how it affects the factoring of the cost of debt, and how it affects what the cost of debt is considered to be, not the cost itself

[Anonymous No.49973313]

>>49970864
Where on this chart are people taking up mortgages?

[Anonymous No.49973355]

>>49973279
I agree, but that's isn't the case when assessing net worth of individuals, te price of their house isn't assesed as it's potential rental value or the cost of lost equity when renting. It's a simplistic money/equity minus debt that doesn't say much about the actual financial viability of the individual

[Anonymous No.49973371]

>>49973279
Cash flow is a function of revenue, cog, interest, lease, salaries. So if you have $1m in debt at an 8% interest rate you need to generate far more than 100k in revenue per year for your business to be worth anything.

[Anonymous No.49973380]

>for your age
underachiever cope
wealth is wealth no matter the age

[Anonymous No.49973469]

>>49973371

Oh, I see your point. You are assuming gross rev.

I am talking about net, i.e. gross - cost of rev.

[Anonymous No.49973531]

>>49970968
Just stop counting that shit as part of your net worth and work as though you are starting from zero unless you have a plan on what you could do with the money RIGHT NOW if you sold the camera shit. If your plan is to be a photographer and you aren’t begging for jobs like a crackhead then you’re not passionate about it anyways. It’s just a bunch of crap you have lying around. Are you going to make it, or not? The choice is yours.

[Anonymous No.49973609]

Net worth 3 million, age 35, all in AAPL, AIGTMI? My dad and I have been buying AAPL stock only since 2002 when they had those funny gay ass computers with the disc mice. We started buying when our entire district spent millions on apple computers. I'm up a few thousand percent and I make a tiny bit from the dividend. Got 21k shares. Should I diversify or hold?

[Anonymous No.49974107]

>>49972623
it's so over for you, I turned 22 this year and I have 125k and it's not even close to enough

[Anonymous No.49974151]

>>49973609
if you're smart you'll sell a chunk of that to lock in the wealth and just ride the rest.

[Anonymous No.49974163]

>>49973278
Why not? It's valued assets.

[Anonymous No.49974225]

>>49973609
the iMac g3

im turning 33 next month. have 5k + whatever i can get for my house over 70k. Highschool dropout, convicted felon. This is the level the avg millenial is on LOL

[Anonymous No.49974317]

>>49973609
>>49974151
this isn't the only option, but consider a 1-year treasury (zero risk) pays 2.83%
this is 4.3 times the forward yield of AAPL, quoted today. so if you sell just 25% of your shares, the rest can go to zero, and nothing really changes for you. income guaranteed.
come up with a plan. example, i am spit-balling pretty hard so get together with your dad and do the real math:
sell 5000 at $141 for about $560k (after taxes)
for one year, buy 1st of every month, 1-yr USTs
use 1/12th of proceeds from sale (46x notes, they are par $1000) for 11 months
dump the remainder in the final month (54x notes)
you're now going to have $15k of passive income roll in over the year. as each one matures. that's 15 more notes. or, it might be your only source of food for a year, if the economy gets real bad.
using TIPS will help you out even more, at least in nominal terms.
the government may be liars, and bonds may not be sexy, but these coupons are guaranteed, without fail. AAPL can suspend dividends, they can issue shares and whittle away at your position, they can go to zero in bankruptcy and give your money to their creditors.

[Anonymous No.49974428]

>>49972874
>I have around a $40,000 car that I put $500 down
why
>$3000 TV that I put about $100 down on
would
>only 12% APR
you
>I should be able to pay these assets off in full in 5 years.
do this

[Anonymous No.49974458]

>>49970864
Just because I didn't go in debt for college, I already have a higher net worth than my age group and I wage slave for a few months at a time before I mentally burn out and quit. You can survive just living within your means. I have a net worth of 20k, probably double due to inflation. My savings are hedged in a classic car, pms, numismatics, and household goods/clothes that hold their value due to being designer/mid century. Just knowing when to spot a deal, really.

[Anonymous No.49974514]

Class of 2018. $200K no debt

[Anonymous No.49974527]

>>49971064
>>49973052
Poorfags shouldn't be allowed to post here

[Anonymous No.49974541]

>>49970864
How the fuck are 30 year olds worth negative 1k. Society really is beyond fucked.

[Anonymous No.49974595]

>>49972874
>debt
>12% interest
>aging tech
>assets
this is bait
but it's believable because the average mutt is so fucking retarded

[Anonymous No.49974597]

>>49970864
Wtf I'm 30 and have over $50,000 CAD. Is this an american debt thing? I can't imagine being in the negatives

[Anonymous No.49974635]

>>49974597
The only thing I can see "reasonably" being in debt for are emergency medical bills. The average mutt likes signing their soul away for shiny new trinkets they don't need and can buy used, see >>49972874

[Anonymous No.49974741]

>>49970929
Congrats anon. Don't worry about real estate, it's an asset.

[Anonymous No.49974748]

>>49974541
its based on what ppl have in the bank after debt and taxes. ppl finish spending savings on college debt and start saving fr at that point.

[Anonymous No.49974761]

>>49970864
Yes, as a matter of fact I'm a year ahead! Going by age, and not by class as it's 2 years old

[Anonymous No.49974777]

>>49970929
>net worth 120k
>mortgage
you are in debt. you have negative net worth

[Anonymous No.49974784]

>>49970864
>tfw tech company dev

Let's just say it is.

[Anonymous No.49974800]

>>49973313
Mortgages don't have a big immediate impact on net worth because you're taking on the debt at the same time as an asset that's ostensibly worth just as much.

[Anonymous No.49974861]

>>49970864
Wait so if I'm 30 I will 70x my money in 10 years?

[Anonymous No.49975030]

30 years old
65000 cad
i'm doing okay no debt so im happy
>>49974597
i work as a csr for one of the Big Five in canada, this isn't an american things are just as bad over here, people having over $1000 between their savings account, chequing account is rare.

[Anonymous No.49975117]

Yeah. Im 27 and currently worth maybe 100k. 200k portfolio but 65k student debt (but I think I'm over estimating after I w lost a bunch in exploits) it's upsetting that I didn't sell more at my peak but I try to remember I'm doing miles better than my peers.

[Anonymous No.49975151]

>>49972874
>43k of assets
you mean 43k in debt

[Anonymous No.49975177]

>>49970864
Yes, but it means nothing. I'm still poor compared to my network/friends/people I know.

Mean average is based on entire population, but it's unaccurate because if you're in the top cohort, e.g. 10,5,1% it really goes to show nothing useful.

t. comparing myself to niggers, but I never was a nigger.

[Anonymous No.49975186]

26 250k after taxes
gave 100k to my parents to help them through the recession. Feels good.

[Anonymous No.49975195]

>>49970864
yee

[Anonymous No.49975202]

>>49970864
With my mortgage no.

[Anonymous No.49975216]

>>49970864
actually yes and all I am is a wagie at mcdonalds in a state with high min wagie it's all luck

[Anonymous No.49975531]

>>49974597
>>49974861
poorfags
i have 300k cad at 23