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I know no one wants to hear this but my 401K rose over $200K since the election.

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.

by Anonymousreply 40November 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 Anonymousreply 1November 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 Anonymousreply 2November 26, 2024 2:22 AM

Cool, OP.

by Anonymousreply 3November 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 Anonymousreply 4November 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 Anonymousreply 5November 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 Anonymousreply 6November 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 Anonymousreply 7November 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 Anonymousreply 8November 26, 2024 2:35 AM

Aren’t you glad you voted Trump!- money is the only thing that matters.

by Anonymousreply 9November 26, 2024 2:39 AM

Trump voters are notorious liar's

by Anonymousreply 10November 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 Anonymousreply 11November 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 Anonymousreply 12November 26, 2024 2:46 AM

You (or your advisor) must be retarded, frankly.

by Anonymousreply 13November 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 Anonymousreply 14November 26, 2024 2:55 AM

It just now gained money?

Nah.

Troll post.

by Anonymousreply 15November 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 Anonymousreply 16November 26, 2024 3:00 AM

Smell you, OP!

by Anonymousreply 17November 26, 2024 3:19 AM

OP = blatant liar, lives off "Go Fund Me" accounts & government cheese.

by Anonymousreply 18November 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 Anonymousreply 19November 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 Anonymousreply 20November 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 Anonymousreply 21November 26, 2024 5:14 AM

My balls really hurt tonight, I hope I'm not having an issue of some sorts.

by Anonymousreply 22November 26, 2024 5:16 AM

I've decided to buy a new laptop.

by Anonymousreply 23November 26, 2024 5:20 AM

[quote]Trump voters are notorious liar's

Oh, dear.

by Anonymousreply 24November 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 Anonymousreply 25November 26, 2024 5:50 AM

R25 The US does not have the highest standard of living.

by Anonymousreply 26November 26, 2024 5:57 AM

You’re really crushing it, kitten.

Cheers, Eight figures

by Anonymousreply 27November 26, 2024 8:12 AM

Please keep us updated, r22

by Anonymousreply 28November 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 Anonymousreply 29November 26, 2024 12:09 PM

....

Offsite Link
by Anonymousreply 30November 26, 2024 12:38 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 Anonymousreply 31November 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 Anonymousreply 32November 26, 2024 1:06 PM

r24. They're possessed!

by Anonymousreply 33November 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 Anonymousreply 34November 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 Anonymousreply 35November 26, 2024 1:19 PM

I mean their wealth.. probably not much is in a bank!

by Anonymousreply 36November 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 Anonymousreply 37November 26, 2024 1:24 PM

How nice for you. How nice for your 401K. How nice for everybody!

by Anonymousreply 38November 26, 2024 1:29 PM

Sure, Yuri...I mean, Jan.

by Anonymousreply 39November 26, 2024 1:41 PM

OP’s broker is George Glass.

by Anonymousreply 40November 26, 2024 1:46 PM
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