I'm just curious how everyone's family income compares to their net worth? On the previous poll of "how much does your family make" over 27% posted a net income of $100,000 or more. Those with the higher incomes, is your net worth also high? I'm not even sure of our net worth. With our house and misc investments, I guess we are around $200,000 with an annual income of around $75,000. We have quite a few years until retirement, so I hope we are okay.

I will put this out there since I don't know anyone here. We make about $90,000 a year. (approx. ....some years it's $100,000 and last year it was $86,000). We have a mutual fund with $15,000 for emergencies, a small savings (approx. $2,000), the kids(4) each have about $8,000 for college and we have $500,000 in a 401K for retirement. (with $50,000 out in a loan that we are paying back to ourselves). We own 2 homes rights now (working on selling one) with equity of a total of approx. $90,000. We don't own many personal items of value other than cars. (no jewelry, art, collections, etc.) So...approx. $650,000ish.

DH is 40 and has a goal of having over $1,000,000 in his 401k when he retires. We plan on not having much social security to add to our income later in life. He should be on target for that as this total is from 17 years. All I would change is to get more in the kids' college account as we only have 5 years before #1 starts college.

I would say compared to what we make we dont have alot saved but our house is payed for & we are 30 & 32 just got payed for & we have college moneys saved but this will also be the first year my dh is out of college himself he has no debt from that & got a job that pay a heck of alot of better so hopefully things will start looking up I am still gonna live like we always have & save as much as we can.

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mom of 3 greats girls

We have a high income and our net worth is about 10X that - but bare in mind that we are in our late 40s and asset accumulation takes time. Also, ask me again when I get done putting my kids through college though...$45K/year per child is going to be a big drain on our savings. Under the current higher education funding scheme, people like us pay for the education of the children of people who spend every cent they make.

cj/

We probably have a net worth of about $200,000 and my DH makes about $60,000. MOst of that equity is in the house though, some in other assets. We cashed in some assets to buy this house because of the value of the foreclosure and the fact that the mutual funds weren't doing anything compared to the possible gains on this investment.

It is interesting to see if people who make more are actaully worth more, but it's hard for people to admit they are living beyond their means, no matter what the income.

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"A true friend is someone who thinks that you are a good egg even though he knows that you are slightly cracked." ~ Bernard Meltzer

We have a high income and a high net worth. We are in our mid-30s and have done it by automatically saving as much as possible. We have money pulled out of DH's check (I have been a SAHM for the past 7 years) before it is deposited into our account. If it's not there, we can't spend it <lol>. We also try to live below or means in cretain areas, but still enjoy a few luxuries.

I'd say you might get a better response if this was in the form of a poll. I'm not going to state what our income or net worth is, but I would vote in a poll. Just an idea.

Perhaps frame it as your net worth relative to your income....i.e. 0.5x, 1x, 2x, 3x, 5x, etc? That way it is kinda normalized...

cj/

ETA: not sure how to calculate? take a look at: Calculators - Net Worth Calculator

Thanks for the calculator! That made it much easier. I am happy to say that we are almost debt-free. It was nice to be able to put zeroes on that side of the calculator. Yea!!!

well, DH makes less than 100k per year, but we own properties that equal a million. While we do have a good amt. of equity, the bank owns the rest. So no real answer there-we live from paycheck to paycheck, but just letting it all ride.