Hi ozbargainers
I want to know how i am doing financially compared to my peers. I find it rude to ask my colleagues/friends how much money/assets do they own. And I don't believe I will get a straight answer even if I ask. So as an anonymous ozbargainer will you care to share?
Net worth is defined as all your assets minus liabilities.
So how old are you and what is your net worth?
Let me start
I am 38 with 1 wife 3 kids $1.5mil
What Is Your Age and Net Worth?
L[Deactivated] on 14/11/2014 - 21:24
Comments
A=L+E
Single 22, $125k
holy,,, mine is literally -$50k nearly same age.
Stop lurking on OZB and start earning.
i am 21 …i have debts :(
so i think untill i pay it all off my networth is 0How do you get debt on anything other than property? Medical treatment?
Uni fees most likely ..
single, 31 1.2mill
31 male, divorced, not single, net worth = Townhouse($420,000) - Mortgage debt($270,000) + bank saving($0) + various liquid rubbish($10,000) + stuff I bought from OzB(priceless) = PRICELESS!
Interesting no one so far has mentioned any precious metal assets.
$750 and a ~$500 bike
:(I have several unexpired Macca's vouchers from the game app (they only last 24 hours) ….it's very difficult to ascribe a value on such an asset.
Tree Fiddy
not married , 22 - roughly $200,000 . Uni student though.
how?????????
selling thesis
He gave away the secret - "not married"
live at home. Makes a difference.
Been working since 15 , don't have any expensive habits (drinking/smoking) and no wife . took a gap year off study to work full time , Invested most of what I had into building a granny flat on parents property with great returns. It comes down to how smart you use your money , you could easily drink/smoke/sex it all away - I live with parents so I don't have utility/rent costs on me which is a big helper.
worked out I'm worth tuppence ha'penny in old money.
5.005 cents lol
It will be even more when the exchange rate improves!
21 / Few k in the bank + HECS
OP and half of the people on this thread is incredibly insecure.
My Dad said your bank balance should look like phone number. And it does.
But it's emergency number.Like many here, I came from nothing.
28 / living with parents (pulling my own weight as well as some of theirs of course)
Massive HECS debt with a mortgage (positively geared IP) over 8 times as much as that. Pretty much no other assets or CC debt of any significance.Everything sold (market price)and paid tomorrow would leave me about 70k in the green.
Well this is embarassing… I have negative net worth since i have a mortgage…
26 and -400k… uhoh… would still be negative if i paid off mortgage since i wouldn't of made any money from selling the house… X_X
That's not how it works. Assets - liabilities = net worth.
Of course how liquid or accessible that money is is irrelevant (which is also why no decisions are made from 1 calculation alone).
If your house is worth less than your mortgage, then it's not going too well…
The house is about the same as my mortgage at this point… so that aint good lol. Also my only asset is my house and my car (paid off of course), but because the house isn't very liquid at this point, I reckon it's more of a liability then anything.
When did you buy?
Investments need to be long-term for that reason, markets go up and down all the time, although long-term trend up (hopefully!).
Financially? Perhaps. However home ownership has emotional benefits so it depends what 'price' - if any - you put on those.
Only recently, also, it's more an apartment lol…
I'm quite happy about the purchase but just thinking in terms of net worth is a bit unsettling lol
@ProjectZero: Ah that's all good then - unless you managed to buy for way under value, buying/selling same day would end up with a loss because of all the fees involved.
It's certainly daunting, I feel uncomfortable having a mortgage. I could move money from shares into it however they're returning above what the mortgage is costing, so finally doesn't make sense to (despite emotionally me wanting to pay it off asap).
38 wife 2 kids $480k… P.S. You suck.
too many wives*
lolz!38 wives? must be non official, Australia only allows one wife
you can have multiple partners without getting into wed lock.
I've read some news article about unofficial polygamy among certain ethnic groups in Australia.
32 and married, 2.5m in investment properties, 1.67m debt
until the property bubble pops in Sydney and interest rates go up
They are all rented and in good locations near the city. If rates go up then negative gearing comes into effect for me. I believe migration into Sydney is also a net positive overall and I'm seeing more educated migrants coming from UK, India etc. All these people need to live somewhere and they have a desire to live close to the city.
Rates will stay low for some time in my opinion as it's a blunt instrument. In UK, Singapore etc they all have lower rates than us. I was in Washington DC and Vancouver and saw ads for 25 year mortgages fixed for 2.99% and think the capital markets of the past have changed with the new influx of cash into Australia.
there are 2 schools of thought on the subject. I know what you are saying, however when the recession hits AU next year and unemployment goes up, many will suffer mortgage stress, and unable to service the loan. Banks will sell off properties and there will be less buyers for new properties consequence of which is a drop in property prices, just as what happened in US.
Get a decent paying job overseas which pays you wage, and cover living/travelling expenses.
I did that between 2002 and 2010. Amazing how much money you can save when you don't party and have no daily living expenses.
Life wasn't boring either as I was based in Europe, so taking short holidays was easy as. Then I came back to OZ, and the real world.
I always found property to be the best long-term investment.
I hate CC's. Only every had the 1 CC with a limit of 2K. Lost count of the number of times the bank has tried to entice me to change it, but always a big FU to them. I use it for convenience, not for their profit.
40, M, 1 child, 0 debt.
"I always found property to be the best long-term investment."
"I always found dot-com stocks to be the best long-term investment. My pets.com stocks are skyrocketing!!! I must be some sort of investing genius!!!"
— wall street dude, 2000
I'm 30 raised by parents who are extremely bad with managing their money hence I picked up a lot of bad habits early on.
But I'm one of the lucky ones in the world, I met a girl who is everything I was not when it came to finances and slowly I turned my situation around from minus zero to few properties here and one overseas, credit card debt free (best feeling in the world btw), share portfolio and cash in the bank. Mind you, this involved doing a lot of nightshifts at my previous work plus working another job in the morning, a lot of times doing 16-18 hours of work in a day.
One of the property if fully paid off with the other three still mortgaged with the bank. We would come out ahead if we do sell everything but it's not something I want to calculate at the moment.. haha
However as per my post earlier in the page 1, I would probably give it all up to be younger and carefree again with no worrying about bills, investments, working, social media etc. I'd keep the girl though :D
Can I just have her for next 5 yrs? I promise I would return when it is due.
so that she could suck you dry and give it to ozeebee?
bad idea……just ask her introduce you her younger sister/ collegue/ church group who has exact money control?
in this market how do you know what your house is worth?
what is money?
its an illusion
Im 30 married 1 kid 1 house 2 IPs all on mortgages… never interested to know other people's net worth because I know GOD has given me a wonderful life.
29 married, no kid. Both works full-time circa $150k/y combined income. $65k worth two cars + $70k super + $20k savings $5-10k worth furniture and electronics. Looks like we are not gonna have any kid anytime soon.
I have shares in Facebook, Tesla and Apple.
Net worth: $2.3 mill, living in Toorak. Retired at 27.
LOLOLOL
Good work mate
I'm so poor I have to read my emails by candlelight.
I will buy your computer screen.
I am 25 with 30K networth.
I am a full time rat.
note while some of us may be worth less, none of us are worthless. Choose happy!
40, married , 2 healthy smart kids (they are our greatest treasures). Net worth just over $2 million not including super.
If I posted about 6 months ago I would be 10k in savings, now I'm about 6k in debt after borrowing to go on a trip, cost me about 11k all up.
EDIT: oops, forgot the important info: 24, full time job paying the average wage of 1995 :(
how did you manage 11k on a trip
In my opinion, I would never borrow for anything other than property. Good debt, bad debt. You could have had more fun with the same amount of time spent working for it if you did it later rather than earlier.
Just my opinion.
I must be doing it wrong.
I have yet to purchase eneloop. Even if I did I would have no means to charge them.
Almost 40, 3 perfect kids, 1 partner, $25k car, $120k in household crap (that's what our contents cover is), $15k credit cards, and renting (no mortgage, no assets).
No where near as rich as OP, but I'm happy with no stress. Combined income of $160k pa, free to live life unburdened by the man.
You cant take it with you folks. It's only money.
Family, love, health, friends…. you got those 4 things, everything else will work out.It would be nice to have millions in net worth like others here, but I'm not the slightest bit concerned that I dont.
War, disease, economic collapse, even climate change… we think here in Australia we are far away and protected from those things, and that it'll never happen here. Live your lives like Nostradamous told you that you have 12 months to live as it is right now, then its all gone. Dont be crazy with stuff, but dont hold back too much either. If the brown stuff hits the fan in 1 year, you want to look back and be happy and have memories that you'll treasure for the rest of your life.
I dont want my kids to remember how much I worked, and how much I missed of their little lives. Be there for them.
Getting home at 7pm because I got stuck in traffic after working all day is NO LIFE. I'm not letting a big corporation 'buy' my youth. And yes, I think 40 is 'youth'. When I'm 80 and almost dead, then I'd consider selling my life… but not now. It's worth much more than $100k pa right now, and there are far too many people who value their lives at far less than that. 40h per week, plus travel time and costs, for what? 45k? No way, that's not living. That's selling out your life to CBA so THEY can make 8billion every year.I sound like a preacher and I'll probably get flamed for it, but seriously… to those that dont compare with the OP's "wealth", dont concern yourself too much by it all. Just be happy. It'll all work out.
You could die tomorrow, and all your squirreling away today wont make a lick of difference- just lots of regret.
Lol I love these baby boomers talk… I guess people like myself just didn't study hard or smart enough, so when I first get into a workplace, working 40+hrs for below 45k is really sad…
Just because you lived in an era where the economy is peaking doesn't mean you did well. Our generation now is screwed, paying the bills and consequences of you baby boomers' booming economy.
Baby boomer?
Man, you're way off track…. like an entire generation! My parents are baby boomers! I was born in the 70's… and making a silly comment like that tells me you are way too young to understand what I'm saying anyway. what are you? 20? You should be thanking Generation X, not dissing them ;).
Your generation is "screwed" because you want everything NOW. Buy on credit, dont save for anything. Generation NOW NOW NOW. Little politically correct cream puffs that were raised with "participation ribbons, because 1st 2nd and 3rd were cruel to those who didnt do well" :). And yet you blame previous generations for your woes. Look in the mirror mate, not at the history books.
And yes… working over 40h a week, plus lengthy travel to do it (like an hour each way, for 2 hours a day, 10h a week, totalling 50h for work purposes) for a measly 45k a year IS SAD!
There are much better options out there that'll pay more, and you'll have more time at home… but you need to work smart, not hard. And no, you dont need a Uni degree. I dont!
such as call out fee $110 to change a lock? lol
I dont blame others, it was you that put down on people that earn less than your expectation. It is sad but at least I am on the ground rather than "I might as well go on dole". Come on man, if you can help a mate out, I am willing to learn from you.
@jasecs:
You clearly blamed him for your woes and he's no baby boomer. You need to research better.1946-1964 was but one internet screen away and then 2014-40 got me 1974.
But I can tell you that anyone who was still a child in the 70's did not benefit from any booming economy so I'd take a good 5 years off 1964. By the time I could afford a house interest rates were 15.5%. Bought a house and copped 18% at its peak. Couldn't afford to buy anything else without a hammering job. None to be found unless you were in IT in the 90's.
40h per week, plus travel time and costs, for what? 45k? No way, that's not living. That's selling out your life to CBA so THEY can make 8billion every year.
I guess being a bum and living off centrelink money does sound better
SO when u 65 u think u still going to be able to work like u can now?
U think u will be able to have the same job or would they like a younger,as smart,worker to work?
Don't get me wrong.I love the fact that your family comes 1st but u also need a place to stay and some money when u get to 65.There will be no pension.
Coming from earning $160k a year down to collecting a pension is a big move.
PS You think that your kids will look after you,think again.No mate, I have no intention of putting my hands out for a pension (because I know it wont be there).
A) Retirement age wont be 65 for me.
B) That's why I have Super… and I pay extra into it (and being in the public service, the rates are already good).
There's no golden rule to say that you MUST own a house by the time you retire.
If there is, the majority of young Aussies these days are in BIG trouble.Everyone thinks housing in Australia keeps going up.
And regardless of what the lenders 'reports' given to the media tell you to think (everything is fine, keep lending!), prices in Australia are WAAAAAYYYY over what they should be.
There will come a time in the very near future where property prices will correct… and they will correct big time. Sydney house prices more expensive than London and New York?!?! Nothing sus there :).
Everyone lending up big on overinflated Australian property prices are in for a rude shock.
And my kids wont need to look after me, but if they did… they would. In my background, kids most definitely are raised to help the elderly, and certainly not just dump them in a nursing home.
Grabngo - I cant believe people negged you for your comment. Its true what you have said.
My in-laws were the best people you could ever hope to meet. They rented all there lives and gave everything to their children. My father in-law died very suddenly. The loss of income was devastating. My mother in-law could not afford to pay rent and live on one income.I made sacrifices so that I could own my own home (which is very small and nothing fancy). At least if I died today, my wife and children would still have a roof over there heads.
And by the way, who cares what I am worth. I don't drive a fancy new car, or live in a McMansion. I am satisfied with what I have so that makes me the richest person here.
Two words bud, Life Insurance.
When I die, my wife and kids will be well looked after too. Life insurance.
You dont have to own property to be secure or offer security to loved ones mate. Wife and kids will be fine regardless of property ownership, because there are other options out there to look after them.But your post is otherwise 100% spot on… I agree with its sentiment completely.
You are not your Possesion, You are not your neg/upvote/like you have in OZbargain, You are not your GRADE you got in school, You are not your Religion, You are not your Pride of your First-world-developed-Nation,You are not your You are not your job, you're not how much money you have in the bank. You are not the car you drive. You're not the contents of your wallet. You are not your (profanity) khakis. You are all singing, all dancing crap of the world
*
*
*
*
*
*
*
*
*
*
*
*
BTW, I Brace myself for incoming Neg.you are not you…hands a snickers bar
Never go full retard man…EVER
Choose life. Choose a job. Choose a career. Choose a family. Choose a (profanity) big television, Choose washing machines, cars, compact disc players, and electrical tin openers. Choose good health, low cholesterol and dental insurance. Choose fixed- interest mortgage repayments. Choose a starter home. Choose your friends. Choose leisure wear and matching luggage. Choose a three piece suite on hire purchase in a range of (profanity) fabrics. Choose DIY and wondering who you are on a Sunday morning. Choose sitting on that couch watching mind-numbing sprit- crushing game shows, stuffing (profanity) junk food into your mouth. Choose rotting away at the end of it all, pishing you last in a miserable home, nothing more than an embarrassment to the selfish, (profanity)-up brats you have spawned to replace yourself. Choose your future. Choose life… But why would I want to do a thing like that?
Yep everyday I am out looking for a new compact disc player.
Wow. Is that what you got from that?
I think the better question to ask in this thread is how much you got in ur bankaccount (or salary) coz its much easier to calculate. Not everyone knows how much their car is worth 4 years after driving it or how much their tv remote controller is worth 4 days after breaking it.
These people flaunt their wealth like it's a good thing, just wait until their slaves rise up and turn the tables around, you won't get away with treating people this like for long..
http://richkidsofinstagram.tumblr.com/post/95919872805/party…
I'm 19, got about $35k in the bank, a car worth $8k, other assets worth around $15k. I'm working in the family business. And I've got friends, family, and I'm happy! Isn't that what matters?
32yrs old. Total net worth of 1.2 million (and I am insured for 3 million if i die.)
So I’m worth more dead than alive!Why did you set your life insurance so high?
Insurance should be enough to cover your liabilities (mortage etc) not your assets.
Its a common practice, if you can afford it, to have approx $1m- $1.5m cover over and above your liabilities. That is to say, if the unfortunate should happen, that money could sit in a bank and earn $50k every year. ie, an income stream for the deceased's partner/family.
net worth doesn't mean everything. I know someone that has a lot more than that. Asked him one day about the cost of going out to dinner with the whole family (him, his wife and three teens 15-17). He replied that they have never been out to dinner, ever.
money/wealth ain't everything, don't compare with others.May be he meant - they did not go 'together' :)
To be fair, did anyone get help from parents or relatives when buying their properties and count them as their own net worth? Frankly, if you include your home in your net worth, there will be heaps of millionaires in Sydney.
I was doing pretty well before getting on OzB. Now I'm just a hoarder.
Too bad if you have 'kippers' = kids in parents pockets eroding retirement savings
2324150 in quarxon space time lines and 32142149 galaxian credits. 3 little gwerbals and 1 wife.
also, this question always comes up and get's answered: http://forums.whirlpool.net.au/forum-replies.cfm?t=2222835
for the uninitiated, another great source of age/pay/earnings/networth etc and just overall tech/computers informations/stuff; really just an overall good site to have listed/bookmarked in your browser for future use. I love whirlpool, always some good stuff there also. Alien out.When you are older you will understand how precious little things, seemingly of no value in themselves, can be loved and prized above all price when they convey the love and thoughtfulness of a good heart.
eg Enloops
Water: 35 liters, Carbon: 20 kg, Ammonia: 4 liters, Lime:1.5 kg, Phosphrus: 800 g, salt: 250g, saltpeter:100g, Sulfer: 80g, Fluorine: 7.5 g, iron: 5.6 g, Silicon: 3g, and 15 other elements in small quantities…
op is a troll
I'm 30, single, no kids.
I have loaned my Mum $25k for house renovations, plus $11k in the bank. $10k of assets in the form of gear for my Photography business. No car.
My true net worth is my life experience (lots of regular travel for work) and my blissful happiness. What use is money in the bank when your dreams go unfulfilled?
Love your attitude.