What is your Gross Worth?
- Thread starter sash
- Start date
whats wrong with an account at the latte shop?
More to the point, what's wrong with booze and chicks??
My gross worth (by comparison to present company) is very, very little - just on half of the lowest amount mentioned above. But at 23, I think that's ok. Given the platform I started from, I'm doing more than ok.
Nett wealth? About 25% of gross. Planning on changing that over time though.
Cheers
Greg
Nett wealth? About 25% of gross. Planning on changing that over time though.
Cheers
Greg
The folks on SS are happy to help you change that, and By the way most here started with about ten bucks once upon a time !
Gross Worth??, does it make a difference. The numbers are meaningless. If like JIT, you have a "200%" increase in gross wealth, by getting two 90% and 95% LVR properties. Maybe then all of $20K closer to retirement.
You should be asking net wealth. Gross wealth is very easy to aquire (just get a lot more debt). Net wealth is what is important.
Hey, the Storm people who had $1.5million margin loans were probably very happy with their "gross" wealth, hehe.
Don't know, sometimes the Somersoft patting each other on the back is a little to much.
So lests see, at 25% LVR currently, I can increase by "Gross" wealth by about 300% instantly why going to 80% LVR instantly with more properties. Woohoo, financial genious I am.
So Sash, hyperthetically, 300%. Guess I've gone better than others than.
Luckily for sash, I dont think he made the mistake of suggesting gross wealth is an indicator of financial genius on it's own, nor that it is more important than nett wealth. Hypothetically you could have done a lot of things, but what did you do ? nothing like me ? that doesn't make us financial geniuses either you know
I'd add that there are different methods for building wealth. Using debt responsibly to invest in quality investments is one method that will help to increase a person's net wealth.
In which case, measuring one's gross wealth is a valuable exercise as it is indicative of one's future networth.
The trick is having the resources (ie buffers) in place to ride out property and stock market volitility.
I think it's just that we are not invested much in property at the moment.
Looking to add to the property portfolio in the next year or 2 though.
Now let's see...my biz has gotta be worth a million or so *(not that I'll ever get it , but it's worth that much), my other biz is about the same too.
My IPs have to be worth a lot too since we have a real estate boom going on, and of course I don't get to take out all the expenses of buying, selling and decades of negative earnings, and of course I need to factor any future potential as well (even though it may be decades before it happens)....
Oh look I'm off the scale!
It's sure nice being in the paper castle bizness.
oh yeah, those paper castles gotta be worth quite a bit too since it's getting harder to chop down trees!
My IPs have to be worth a lot too since we have a real estate boom going on, and of course I don't get to take out all the expenses of buying, selling and decades of negative earnings, and of course I need to factor any future potential as well (even though it may be decades before it happens)....
Oh look I'm off the scale!
It's sure nice being in the paper castle bizness.
oh yeah, those paper castles gotta be worth quite a bit too since it's getting harder to chop down trees!
Piston, you sounds as sarcastic as me )
Yeah, looks like some Somersoft people are predominantly in the 500K-3m range ("gross", including PPOR, what the?).
But I have now seen the Somersoft light! I'm converted to the Somersoft religion. I'm on my way out today to turn my 25% LVR into a 80% LVR property portfolio. This will easily take me into the >4m - retirement here I come braket. Yeah. Though nothing has really change, just more debt. But at least I can then join the Somersoft back slapping fest, and feel really rich.
Personally, I've lower my exposure for now, because I think the market will turn (shares) in the next 2-3mths, and property will come off a bit next year. Then I'll get back in, and increase my "Nett" wealth even future.
)Yeah, looks like some Somersoft people are predominantly in the 500K-3m range ("gross", including PPOR, what the?).
But I have now seen the Somersoft light! I'm converted to the Somersoft religion. I'm on my way out today to turn my 25% LVR into a 80% LVR property portfolio. This will easily take me into the >4m - retirement here I come braket. Yeah. Though nothing has really change, just more debt. But at least I can then join the Somersoft back slapping fest, and feel really rich.
Personally, I've lower my exposure for now, because I think the market will turn (shares) in the next 2-3mths, and property will come off a bit next year. Then I'll get back in, and increase my "Nett" wealth even future.
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888, You are trying to argue a point that was never actually made. If you read the thread, not one person has said that gross wealth is a better financial indicator that nett wealth. It is just interesting to know how many assets people are controlling. I also find it interesting.
And that's fine that you don't want to increase your LVR, nobody is forcing you to defend that right....try to relax. The fact that you think the market in general is not increasing is also fine. The fact that you are not confident in your ability to locate very well performing sub-markets is also perfectly fine.
If somebody is able to purchase the well performing properties, increasing their gross worth makes perfect financial sense.
And that's fine that you don't want to increase your LVR, nobody is forcing you to defend that right....try to relax. The fact that you think the market in general is not increasing is also fine. The fact that you are not confident in your ability to locate very well performing sub-markets is also perfectly fine.
If somebody is able to purchase the well performing properties, increasing their gross worth makes perfect financial sense.
Exactly... all it was was a question which no one has to answer if they don't want to !
I was just using the Real Estate Guru & RE Investment Magazine method of calculating my gross worth. Although BRW has used a similar methodology on a few occasions. Some would call it "fake it till you make it", others "sell the sizzle not the sausage" (yeah i learnt sumthin from Dexter Yaeger!), some simpletons would even say "Baffle'm with BS" which shows their incapability of understanding such innovative methodologies and paradigms.
There are many methods of calculating gross value, in investing maths is an opinion.
There are many methods of calculating gross value, in investing maths is an opinion.
ummmmmmm, OK. I would have thought everybody here are calculating the value of their assets based on what they're 'worth' then giving a figure. Not sure why you decided to attack the people in this thread PB. Well argued none the less and a good use of quotes to do so.
Sooo, it's been argued here that nett worth is better than gross worth and that one is able to use maths to add different values together. OK, nobody has actually said otherwise so you win the argument. Maybe we should we just continue the thread now that all matters are settled.
Sooo, it's been argued here that nett worth is better than gross worth and that one is able to use maths to add different values together. OK, nobody has actually said otherwise so you win the argument. Maybe we should we just continue the thread now that all matters are settled.
Gross wealth is just as important as net wealth, especially when beginning the journey. It allows you plenty of time and assets to grow and give you the net worth down the track.
I'd much rather have 30% of $100M than 100% of $5M.
I work on attaining the gross assets and let the assets I control take care of increasing the 'net' bottom line.
I'd much rather have 30% of $100M than 100% of $5M.
I work on attaining the gross assets and let the assets I control take care of increasing the 'net' bottom line.
Well said. If I tried to only obtain assets on a net basis, I really wouldn't get far. Gross worth is what enables my nett worth to increase.
I agree with somerville on that point
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