Languish.org

Mine is not.

Hell no.

Nope. I'm about 3 years out.

There is an apples and oranges aspect.  Most gringos are going to have 401ks which look a lot like net worth and many if not most yuros are going to have defined benefit pensions that don't get counted.

I'll probably have paid off enough of my mortgage to qualify in ten years or so.

I work in newspapers

Quote from: Admiral Yi on December 23, 2019, 10:39:35 AM
There is an apples and oranges aspect.  Most gringos are going to have 401ks which look a lot like net worth and many if not most yuros are going to have defined benefit pensions that don't get counted.

:huh: Why shouldn't defined benefit pensions get counted? The value of those is not trivial to calculate, but nor is it insurmountable. If the enlightened balls of light are ignoring the value of them, then, sure, that'd be silly. Just as silly as an American not taking away the value of whatever home/student/medical loans they have.

Quote from: Admiral Yi on December 23, 2019, 10:39:35 AM
There is an apples and oranges aspect.  Most gringos are going to have 401ks which look a lot like net worth and many if not most yuros are going to have defined benefit pensions that don't get counted.

I would be very (and pleasantly) surprised if I see some of that pension money. The system in Spain is basically bankrupt.

As for the OT I'm about to sink my savings into real estate. With a bit of luck and my usual lack of spending (no kids!) I can pay the mortgage off in ~15 years. That would leave me another 10 or so years to save up for retirement, if such a thing still exists.

Quote from: Habbaku on December 23, 2019, 10:51:54 AM
:huh: Why shouldn't defined benefit pensions get counted? The value of those is not trivial to calculate, but nor is it insurmountable. If the enlightened balls of light are ignoring the value of them, then, sure, that'd be silly. Just as silly as an American not taking away the value of whatever home/student/medical loans they have.

As silly as an American not including Social Security?  :ph34r:

I would discount Social Security to ~70% of expectations.  :P

My wife and I are formidable savers.  :ph34r:

Quote from: Camerus on December 23, 2019, 11:11:44 AM
My wife and I are formidable savers.  :ph34r:

My wife is a formidable saver. I am... less so

Most everyone in Vancouver who bought a house more than 10 years ago would vote yes.

Quote from: crazy canuck on December 23, 2019, 11:28:56 AM
Most everyone in Vancouver who bought a house more than 10 years ago would vote yes.

Stockholm is the same.

I just barely break even. Thanks student loans!
I am a lot closer to 100k if you take Redfin's wildly optimistic valuation on my house instead of using the last appraised value or a reasonable estimation.

Quote from: Habbaku on December 23, 2019, 10:51:54 AM

Quote from: Admiral Yi on December 23, 2019, 10:39:35 AM
There is an apples and oranges aspect.  Most gringos are going to have 401ks which look a lot like net worth and many if not most yuros are going to have defined benefit pensions that don't get counted.

:huh: Why shouldn't defined benefit pensions get counted? The value of those is not trivial to calculate, but nor is it insurmountable. If the enlightened balls of light are ignoring the value of them, then, sure, that'd be silly. Just as silly as an American not taking away the value of whatever home/student/medical loans they have.

I guess he's differentiating between a state pension and a private pension.

I know my defined benefits pension certainly has an assessed value if you ask for it.  You could even cash it out if you're foolish enough to do so.

If you wanted to look at liquid assets it's minimal, but total net worth including house and pension, minus debts and mortgage, is easily over $100k US.

Quote from: Barrister on December 23, 2019, 12:38:09 PM
I guess he's differentiating between a state pension and a private pension.

I'm differentiating between defined payment and defined benefit.

I just think that most people lump defined payment into net worth because the current cash value is sitting there on your statement, and most most don't with defined benefit because the cash value is not readily available.

I'm curious how academics and reporters and government agencies treat these two.

Anyone know?

Defined-payment, national pension schemes aren't usually included in normal net worth calculations that I've seen, in finance or economics etc, academic or otherwise.

401ks are almost always included in net worth calculations.

Defined-benefit private pensions I'm honestly less sure on, they almost always have a cash value so it wouldn't be hard to include them. Government pension schemes are harder because they are frequently changed by laws and often have no defined cash value (some State-level pensions in the U.S. do though, and even have cash out options.)

I don't think so.
But with pensions et al who knows.

If you were to put a number on the lump sum worth of your SS benefits, how would you do it?  I know it's an annuity of some kind, but what parameters do you use? 

With pension savings I have a net worth. Without I am getting out of some loans, overdrafts, credit cards etc :ph34r:

No, my mortgage is still too high.

I voted on the basis of not counting my pension. 

Quote from: Monoriu on December 23, 2019, 05:56:30 PM
I voted on the basis of not counting my pension.

:lol:

I'm worth maybe a grand.

This isn't a consideration of mine, but the limited number of healthy/active years I have left is very important to me , but it's probably quite small number.

I think so...but the reality of that would not be known until I actually sell my assets. Schrodinger's net worth I guess.

Theoretically yes.

Quote from: Valmy on December 24, 2019, 02:09:10 AM
I think so...but the reality of that would not be known until I actually sell my assets. Schrodinger's net worth I guess.

Theoretically yes.

cash on hand is not net worth

Damnit CC, I am an Engineer not an Accountant

Never will be.

Quote from: crazy canuck on December 24, 2019, 11:48:34 AM

Quote from: Valmy on December 24, 2019, 02:09:10 AM
I think so...but the reality of that would not be known until I actually sell my assets. Schrodinger's net worth I guess.

Theoretically yes.

cash on hand is not net worth

You have to spend it on nets?

Quote from: Eddie Teach on December 23, 2019, 10:28:05 AM
Mine is not.

Possibly.  I'd have to recheck the current exchange rate.

Well net worth is simply total assets - total liabilities.  So you don't need to actually sell your stuff to know your net worth.  You do need to find out the fair value though.  Just because you say your house is worth a million doesn't make it so.  There needs to be someone at arm's length (e.g. your wife doesn't count) who is willing to pay a million dollars for your house to make it worth that much.

Quote from: Monoriu on December 25, 2019, 04:44:31 AM
Well net worth is simply total assets - total liabilities.  So you don't need to actually sell your stuff to know your net worth.  You do need to find out the fair value though.  Just because you say your house is worth a million doesn't make it so.  There needs to be someone at arm's length (e.g. your wife doesn't count) who is willing to pay a million dollars for your house to make it worth that much.

Generally speaking, you adopt a conservative value of including at the value of the city's evaluation for tax purpose.  Or, if you have a written evaluation, you put it at that value.  But you can guess that that if the city evaluates your house for 200 000$ and houses around you of similar age and size sells for 600k$ you'll get more than the eval.  You can't just realistically put in on official papers.

Reeeeallly depends on the value of my company.

Please redo this poll with a 1M and 10M option.

Quote from: Hamilcar on December 25, 2019, 05:22:15 PM
Please redo this poll with a 1M and 10M option.

That option was covered in the bragging thread that just dropped off Languish page one.

Quote from: Hamilcar on December 25, 2019, 05:22:15 PM
Please redo this poll with a 1M and 10M option.

:worthy: