Net Worth?

[champdmb]

we are young and reaching for the moon. i want to see how much and where your money are allocated. and what are your goals and your thoughts on what category we should focus on in order build wealth faster(ie. real estate, stocks, business??).

me.. my goal is to eclipse the 1M mark at age 40. I am a little slow and conservative.

28 y/o

assets:
430K home/rentals
13K car
10K savings

-361 home/rentals debt
-13K car debt

equals 79K Net worth.

thanks for your input in advance.

[carrera87]

i don't know i have a personal assistent who takes care of everything i only buy property and sell it xD

[akula]

i don't know i have a personal assistent who takes care of everything i only buy property and sell it xD

omg, what a wanker thing to say
as if you wouldn't know ur assets and liabilities

[Purple]

dont really care about networth, i just care about How much money i got in the bank Or how much is in my Safe.

[SmarterGroup]

Networth is to some extent irrelevant. My business is worth over 1 million but I don't have access to anything like a million pounds at this stage ....... and I have no intention of selling :-)

[consumertreehouse]

In my opinion Real Estate is a great way of building your net worth. My whole family is involved in real estate and have been since my Grandfather was child, he's 90 now. You just have to watch the market and find undervalued properties. I bought a duplex in Los Angeles that was priced almost 300K undervalue, only because the previous owner did not have the property appraised before he listed it. I found it and made an offer that day, this was after searching for a property to purchase in L.A. for over 8 months.

I have also found that Timberland investments, large tracks of bare land with timber, is another way to build your net worth. But you can't flip these type of properties because the value is in the timber and the larger the timber grows the more value you will have. There are several websites where you can buy timberland for cheap, just have to spend some time looking. Stocks and bonds I don't pay that much attention too, but I have invested in some solid companies and will just hold onto the stock.

Businesses are good too, if you can created a great business with no or low overhead, which is what I have built. It's a simple idea, but very marketable at the same time.

Here's a great calculator that you can use to estimate your net worth.

Net Worth Calculator - Personal Finance - MSNBC.com

Good Luck

[youngmarketplace]

I have three companies now worth over $500,000 in 1 year. I think I was worth $10,000 at this same time last year.
The funny thing is that once you have money it becomes much easier to invest and start other companies. However even if you post large profits, we still wont have to pay the government much. Start new companies, buy things that create money, then you dont have to pay as much to them.
Yes and now we are starting a real estate holding company.

I am 22

[hocslap231]

Hey, could you tell me about your first startup and how you got into it. I am 21 and looking to start a company up, completely unsure of what I want to do looking for different routes.

[SpencerB]

I love how people throw around valuations of their OWN privately held companies. Unless you've got a buyer with money on the table, or are publicly traded, these valuations mean squat.

I might as well start a solar company slap a 100x PE on there, net a cool $100k, and call it a $10m company....

[youngmarketplace]

sweet well if we want to do a 100% PE my company would be worth $50 Million then.
Gross should be between $500,000- 600,000 next year.

[dfveteran]

sweet well if we want to do a 100% PE my company would be worth $50 Million then.
Gross should be between $500,000- 600,000 next year.

Weird, you make a lot of money to not pay your website bill,lol. Your website is down,hehe...

Anyway I guess my husband and I, have about a million or so in net worth. Maybe more or less. He knows more than I do. We have 5 local store fronts and own 2 homes. We have 3 time shares we own also. I could probably sit here all day listing stuff.

[Purple]

Networth is so irrelavant i cant even say. Net Worth will go up and down, you could be worth 1 million now the next minuite you company is in a slump and you could be worth 1 dollar.

[dfveteran]

Networth is so irrelavant i cant even say. Net Worth will go up and down, you could be worth 1 million now the next minuite you company is in a slump and you could be worth 1 dollar.

So true, I know net worth means everything all together but, in reality,your net value is only how much profit you make each year. The rest is just loaned out, owed, or something along those lines. Someones net worth may be 10 million dollars, but it never shows everything. They could only be making 100 thousand a year and owe millions for all we know. Some day they will own it all, just not today,lol.

There was a time when net worth meant something. Things used to be cheap enough to just buy outright if you were rich. Now things are so expensive, even the rich have to take a loan out. So you have to account to profit-owe margin also.