Age 40. 2 Million with 400K mortgage.
Ask HN: What’s Your Net Worth?
1–10 of 16 posts
Re: Ask HN: What’s Your Net Worth?
#2Age 23. $30 cash with $6k credit card debt.
Re: Ask HN: What’s Your Net Worth?
#3Since when did HN turn into /r/personalfinance?
Re: Ask HN: What’s Your Net Worth?
#4Closing in on a billion.
Got 7 lambos.
Re: Ask HN: What’s Your Net Worth?
#5How do you calculate the net worth of yourself? Is it simply your assets - your debts or is there another way to do it?
Re: Ask HN: What’s Your Net Worth?
#6If you have 2 million net, why not pay off the mortgage?
Re: Ask HN: What’s Your Net Worth?
#7If you have 2 million net, why not pay off the mortgage?
1. Investments/interest of that 2 mil will cover that mortgage easily in the long term
2. S/he won’t be paying early payment penalty.
Re: Ask HN: What’s Your Net Worth?
#8If you have 2 million net, why not pay off the mortgage?
Interest rate arbitrage. If you have $2M liquid net worth, you have access to investments that will perform much better than the ~4% you're likely paying on your mortgage. If I can make 6% on $400k vs the 4% I'm paying on said mortgage, why wouldn't I pocket that extra 2%?
Re: Ask HN: What’s Your Net Worth?
#9How do you calculate the net worth of yourself? Is it simply your assets - your debts or is there another way to do it?
That's all there is to it.
Assets - Liabilities = Net Worth
Re: Ask HN: What’s Your Net Worth?
#10If you have 2 million net, why not pay off the mortgage?
Could be tied up in investment accounts (401k, 529, etc).
Don't forget that the 2 million net worth includes some of the house, and you can't pay off the house with the house and still keep it. ($2.4 million house - $400k mortgage = $2 million net)