Previously it was stagnant or dropping. I now have a net worth of over 7 figures. That includes my liabilities such as my mortgage. I have no other debt.
I know no one wants to hear this but my 401K rose over $200K since the election.
by Anonymous | reply 40 | November 26, 2024 1:46 PM |
Having a net worth over 7 figures is not that big of a deal these days, especially if that figure includes your real estate.
by Anonymous | reply 1 | November 26, 2024 2:17 AM |
OP, really curious: Why in the world do you feel inspired to announce this to the world of DL? Do you think we are all going to be singing to the heavens for you?
I'm not kidding. I'd really like to know why you started this thread.
by Anonymous | reply 2 | November 26, 2024 2:22 AM |
Cool, OP.
by Anonymous | reply 3 | November 26, 2024 2:24 AM |
What kind of a stupid investment plan do you have that is has been stagnant? The S&P 500 has had an annual return of 14 percent from the beginning of the administration up to November 1. Consider an index fund. Do better
by Anonymous | reply 4 | November 26, 2024 2:28 AM |
[quote] Having a net worth over 7 figures is not that big of a deal these days, especially if that figure includes your real estate.
It's still a pretty big deal. Fewer than 20% of Americans have a net worth of 7 figures.
by Anonymous | reply 5 | November 26, 2024 2:30 AM |
You don’t have anything until you sell, and if I’m not mistaken you will have to pay capital gains on the profit if not the principal.
I have a huge profit coming when I sell some real estate I’ve been sitting on for almost 30 years but half will be eaten up in taxes since I can’t dump it into another primary residence.
Moral of the story: don’t count your chickens before they are sold and the tax paid on them.
by Anonymous | reply 6 | November 26, 2024 2:31 AM |
R5, that says more about the pitiful situation most Americans find themselves in vis-a-vis retirement savings and not so much about how wealthy you think you are.
by Anonymous | reply 7 | November 26, 2024 2:33 AM |
What does it mean to say you have net worth of over seven figures? Do you have eight figures? If so, why don't you say that? There is no 7.3 or 7.5 figures.
You don't seem to be financially or quantitatively literate, which way be why your investments were doing so poorly until this bizarre supposed windfall.
by Anonymous | reply 8 | November 26, 2024 2:35 AM |
Aren’t you glad you voted Trump!- money is the only thing that matters.
by Anonymous | reply 9 | November 26, 2024 2:39 AM |
Trump voters are notorious liar's
by Anonymous | reply 10 | November 26, 2024 2:41 AM |
What kind of idiot has had stagnant growth since the pandemic? My wealth has increased by three times over Biden’s term and is well into seven figures, since that is apparently a thing. But what do I know? I don’t vote for rapists.
by Anonymous | reply 11 | November 26, 2024 2:44 AM |
[quote] That says more about the pitiful situation most Americans find themselves in vis-a-vis retirement savings and not so much about how wealthy you think you are.
In what country is the equivalent of a seven-figure dollar retirement fund commonplace?
by Anonymous | reply 12 | November 26, 2024 2:46 AM |
You (or your advisor) must be retarded, frankly.
by Anonymous | reply 13 | November 26, 2024 2:52 AM |
OP, you've provided a valuable glimpse into the intellect and mental world of a Trump voter. You shouldn't have been so apologetic about posting.
by Anonymous | reply 14 | November 26, 2024 2:55 AM |
It just now gained money?
Nah.
Troll post.
by Anonymous | reply 15 | November 26, 2024 2:56 AM |
J'accuse.
"I now have a net worth of over 7 figures" - implies that it just went over $1mm for the first time.
"That includes my liabilities such as my mortgage. I have no other debt." The average house price in 2024 in the US is about $405K. With this net worth, it's unlikely he's sitting on a property worth $2mm. Let's say OP's home is worth $500K and he still owes $250K.
He claims that his 401K rose over $200K. With the previous information, this means his 401K could not have been much higher than $750K otherwise his net worth would have been over $1mm before the so-called run-up of $200K.
There is NO way the usual basket of mutual funds and other investment vehicles typically available through 401Ks rose by over 25% in three weeks.
Not a chance in hell.
by Anonymous | reply 16 | November 26, 2024 3:00 AM |
Smell you, OP!
by Anonymous | reply 17 | November 26, 2024 3:19 AM |
OP = blatant liar, lives off "Go Fund Me" accounts & government cheese.
by Anonymous | reply 18 | November 26, 2024 3:38 AM |
R12, there are countries in which the average income is less than $4 a dollars a day.
If you’d like to set aside straw man arguments for a second…
More the 17% of Americans are over the age of 65, meaning that they are in the process of spending down their net worth. More than 21% of Americans are under the age of 21, which means they haven’t even begun to build their wealth.
That means that, if we accept R5’s numbers and around 20% of Americans have a seven-figure net worth, and we take away the almost 40% which aren’t earners and building wealth, then it becomes less and less a flex that OP is amongst the 1 in 3, roughly, Americans who have a net worth of $1 million or more.
by Anonymous | reply 19 | November 26, 2024 5:03 AM |
R4 beat me to it. Bragging about lagging the market for years isn’t a flex. Curious about your recent “surge”. Are you mostly invested in DJT stock and doge coin?
by Anonymous | reply 20 | November 26, 2024 5:12 AM |
It’s not a strawman argument. You are just illiterate
The post I was responding to said it was a sad commentary that only 20 percent of Americans have a net worth of seven figures. I was commenting that, far from being a sad commentary, I could not imagine such wealth is common in many countries outside of America. Nothing in my comment questioned the frequency of such wealth in the US. So, I don’t know why you are trying to convince me of it
You can ask next time if you don’t understand.
by Anonymous | reply 21 | November 26, 2024 5:14 AM |
My balls really hurt tonight, I hope I'm not having an issue of some sorts.
by Anonymous | reply 22 | November 26, 2024 5:16 AM |
I've decided to buy a new laptop.
by Anonymous | reply 23 | November 26, 2024 5:20 AM |
[quote]Trump voters are notorious liar's
Oh, dear.
by Anonymous | reply 24 | November 26, 2024 5:49 AM |
R21, I’m sorry. I expected you to understand that America has not only the highest standard of living but the highest cost of living. Yes, there are countries which don’t have the vast wealth that America has, but they also do have the costs that America has.
Perhaps the lack of understanding and illiteracy is a problem on both sides.
by Anonymous | reply 25 | November 26, 2024 5:50 AM |
R25 The US does not have the highest standard of living.
by Anonymous | reply 26 | November 26, 2024 5:57 AM |
You’re really crushing it, kitten.
Cheers, Eight figures
by Anonymous | reply 27 | November 26, 2024 8:12 AM |
Please keep us updated, r22
by Anonymous | reply 28 | November 26, 2024 11:36 AM |
You guys sure do live in a bubble!
You'd all starve to death on what I live on, as well as many, many others. So, as my mother would say, "Shut up and be glad!"
by Anonymous | reply 29 | November 26, 2024 12:09 PM |
Oh...I get it! We're shitting on OP because he started a stealth Drumpf-is-good discussion. I was confused because I know DL-ers LOVE money and I figured they'd all be impressed enough by OP to start rattling off their own numbers.
by Anonymous | reply 31 | November 26, 2024 1:01 PM |
The market is at a new high since Trump,got elected. But it was hitting new highs daily under Biden. The returns this year under Biden have been great.
Trump isn’t President yet so let’s see how things shake out when he starts with tariffs and deportations.
by Anonymous | reply 32 | November 26, 2024 1:06 PM |
r24. They're possessed!
by Anonymous | reply 33 | November 26, 2024 1:15 PM |
We just don’t know, r32. If there is 15 percent inflation, having assets in the stock market may protect the value of your money. Or it could tank. Or, though unlikely, the money generated could offset the inflationary effects of deficit spending. Or Trump could back off once he finally understands how tariffs work.
Bad things could have happened under Harris. But Trump seems set on it.
by Anonymous | reply 34 | November 26, 2024 1:17 PM |
Trump and his rich backers will never do anything that hurts their bank accounts. That’s one thing you can be 100% sure of.
by Anonymous | reply 35 | November 26, 2024 1:19 PM |
I mean their wealth.. probably not much is in a bank!
by Anonymous | reply 36 | November 26, 2024 1:20 PM |
There's no point in getting too attached to an investment balance that will fluctuate wildly with Trump and his moronic cronies (including Musk) at the helm.
by Anonymous | reply 37 | November 26, 2024 1:24 PM |
How nice for you. How nice for your 401K. How nice for everybody!
by Anonymous | reply 38 | November 26, 2024 1:29 PM |
Sure, Yuri...I mean, Jan.
by Anonymous | reply 39 | November 26, 2024 1:41 PM |
OP’s broker is George Glass.
by Anonymous | reply 40 | November 26, 2024 1:46 PM |