Author Topic: How much is your net worth? (Read 19622 times)

wealthmanager · « **on:** Nov 24, 2007, 03:53 PM »

How much is your net worth? the value of your assets minus your liabilities. It is the best way to measure and track your financial well-being.

In simple terms, net worth is what you own minus what you owe. If you owe more than you own, you have a negative net worth. If you own more than you owe you will have a positive net worth.

Asset include money in the bank (savings or current accounts, certificate of time deposits, money market funds), bonds, unit-investment trust funds/ variable unit-linked insurance (VUL)/ mutual funds (based on net asset value), equity investments, pre-need plans/insurance policies (remember to quote the cash value of the policy, not the amount paid out if you were to collect on the policy), arts/collectibles, automobiles, jewelries, real estate and other properties.

I am a savy-investor and a financial consultant of a prestigious financial conglomerate. My liquid asset is worth P4 million pesos today (excluding cash value of my existing pre-need plans and insurance policies which could add atleast a million pesos).

How does your financial health fare? How much is your net worth (investible funds) today?

ekimonk · « **Reply #1 on:** Nov 24, 2007, 04:01 PM »

kasama ba yung value ng life insurance sa net worth??? i don't buy life insurance e.. how about yung SSS contributions?

pero net worth ko probably between 1.5 to 2 million.. bulk of which is in real estate..i'm still working.. so maka 3 million net worth lang ako i guess i will just find fun, easy jobs na lang... although what's easy for me is all but related to IT..

wealthmanager if you are married your 4 million is not exclusively your networth.. it is divided between you and your spouse.. unless you acquired it before you got married..

wealthmanager · « **Reply #2 on:** Nov 24, 2007, 04:08 PM »

In computing your net worth, you should treat your life insurance cash value (as in the cash surrender value of your policy). Premiums paid to SSS form part of your retirement income, but obviously it may not be part of your statement of assets and liabilities.

nailbiter · « **Reply #3 on:** Nov 24, 2007, 06:24 PM »

A related article on the PMT blog: http://www.pinoymoneytalk.com/whats-your-net-worth/

richpulubi · « **Reply #4 on:** Nov 24, 2007, 08:58 PM »

I had my first million at 32...buti pa kayo...

ekimonk · « **Reply #5 on:** Nov 24, 2007, 09:54 PM »

^ richpulubi during your the time you were 30, 1 million is big amount of money..

today 1 million is just a price of a small suv or auv..hehe..

i won't be surprised by the time i reach 40 when 25 year olds will be bragging about their first 1 million pesos..

richpulubi · « **Reply #6 on:** Nov 27, 2007, 07:18 AM »

Dude, I'm 41. So, probably the value of 1M is a little less than 2M today...

segurista · « **Reply #7 on:** Nov 28, 2007, 08:41 PM »

Same age pala tayo bro. Sa edad natin magkano net worth palagay mo to be considered elite?

Segurista

richpulubi · « **Reply #8 on:** Nov 29, 2007, 07:11 AM »

Tsong! Magkasing idad pala tayo! Nagkaka-highblood ka na rin ba?

As to your question of being elite, honestly, after meeting numerous high-networth individuals...the value becomes secondary to how much(or how little) they began with. There are some who flaunt their wealth, pero minana lang nila. As the saying goes: To make ten million pesos from one million is expected, but to make ten million from five hundred pesos is phenomenal. It is the self-made who are the elite.

Also, the amount of wealth is also a result of hard work and luck. The harder you work, the luckier you get. I just met the youngest self-made billionaire I know. He is chinese, about 41 also, and has bought and operates companies in China and Europe, and travels from one country to the next to watch over them. He banks in Switzerland....but he only sees his family once a week for dinner. Everything I accomplish pales in comparison...but I'd rather be with my family...so the trade-off is worthwhile.

So what is the net worth of the elite? Probably P50M in liquid, invested assets alone, with a happy family, growing kids, good social life, eating healthy, has time to exercise, and has time to share his or her secrets here in PMT!.

gharlen · « **Reply #9 on:** Nov 29, 2007, 07:55 AM »

may highblood k pala richpulubi

sardonyx · « **Reply #10 on:** Nov 29, 2007, 08:05 AM »

^thanks again for your valuable input richpulubi!

AMARANTH · « **Reply #11 on:** Nov 29, 2007, 10:20 AM »

segurista,

According to commercial banks you need at least 10 million liquid to be considered big.

I dont think haing 10mil is considered elite but thats were you start to be noticed by big banks anyway.

mejofer · « **Reply #12 on:** Nov 29, 2007, 05:56 PM »

I had my first million at age 22 from working. I'm 23 now and I'm thinking of creating passive incomes so I don't have to work too much. I hope to retire at age 30.

My net worth is 2M.

PS.. Kasama ba kinita sa trabaho? Hindi yata ahahaha. Sensya na noobie ako sa mga ganito eh. I hope to venture into business soon. Nice site.

richpulubi · « **Reply #13 on:** Nov 29, 2007, 06:43 PM »

Sardonyx, my pleasure...

vios · « **Reply #14 on:** Dec 16, 2007, 10:23 AM »

Cheers Wealthmanager! You're in still in your late 20s, yet you have accumulated a quite substantial savings. You have a long way to go... It seems you earn a very good salary than most of us at PMT, for you to accumulate such amount. P4 million is P4 million! If you save P100,000 a year for 40 years its equivalent to P4 million. How many of us have P4 million? not even a million pesos.