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Poll: How much is your Net Worth (in pesos)?

akshay · 108 · 49090

Poll

How much is your Net Worth (in pesos)?

Below PHP 1M
PHP 1M - 5M
PHP 5M - 10M
PHP 10M - 30M
PHP 30M - 50M
Above PHP 50M

akshay

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As a follow-up to the thread Magkano income n'yo in one month?, I think someone's net worth is a better assessment of their financial capacity than how much someone earns since it's not how much you make but how much you save, keep and have. Therefore I post this poll.

Net worth = Assets - Liabilities.
« Last Edit: Feb 03, 2013, 09:42 PM by FutureGizmo »


mlangseth

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Reply #1 on: Nov 22, 2008, 07:44 AM
over 10M (modesty aside) excluding my primary residence in the USA AND Pinas, excluding my assets in the USA (kasi joint acct with my hubby).
No liability in Pinas.
Very little liability in the USA. Mortgage to be paid off in 2 years.



litb

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Reply #2 on: Nov 22, 2008, 07:31 PM
wow 10M  :applause:


jcr

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Reply #3 on: Nov 29, 2008, 09:19 AM
Hmmm.... tingin ko dapat bnabaan mo pa yung lower limit... like below 500K... etc...


allanmm13

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Reply #4 on: Nov 29, 2008, 05:22 PM
I don't think changing the range will affect the interest of voters for this poll.

There are possible reasons why many people can't decide:

- can't determine his true net worth
- can't determine what is an asset or liability

Looking forward, if your net worth is <1m, time to work out a realistic goal for next 1-3yrs to raise it >1m.


workoshore

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Reply #5 on: Nov 30, 2008, 01:56 AM


jcr

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Reply #6 on: Nov 30, 2008, 07:59 AM
Hmm... the reason why I say na babaan ang range is... I believe, yung may net worth na 1M-2M, more or less nagstart na yan sa mag-invest... higher than that, mejo savvy na ang mga yan... so there's really not much difference...

if you consider <1M as one group.. that would mean that a person with a net worth of 800K (may be someone who owns a house already na tnatapos lang ang bayad, but more or less knows what he is doing with his money) is in the same group with someone who has a networth of Php5000 (someone who has not started yet with his investments)... or even someone who has a networth of -10K!

Anyway, if the poll is how much millions do millionaires have.. yeah, it should be fine..


workoshore

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Reply #7 on: Dec 01, 2008, 12:21 AM

I don't think changing the range will affect the interest of voters for this poll.
There are possible reasons why many people can't decide:
- can't determine his true net worth
- can't determine what is an asset or liability
Looking forward, if your net worth is <1m, time to work out a realistic goal for next 1-3yrs to raise it >1m.


see the link for some guidelines... :watchuthink:
http://blogs.inquirer.net/moneysmarts/2008/11/19/what%e2%80%99s-your-worth/

here's another I've read years ago...

Net Worth
Your net worth is your total assets minus your total liabilities or debts.

Assets may be broken down into the following: cash, financial investments, and fixed assets. Cash would include current accounts, time deposits, foreign exchange, life insurance, and retirement funds. Financial investments cover equities, bonds, mutual funds, and pension funds. Fixed assets would include real estate, including your own home, vehicles, jewelry, and equity in a business, equipment, and art.

Liabilities could be broken down into short-term and long-term obligations. Short-term liabilities are debts such as utility bills and monthly credit card payments that can be repaid within the year. Long-term liabilities such as bank loans and mortgage payments take more than a year to repay.

As your wealth grows, it becomes harder to make an exact calculation of your net worth because many of your investments will fluctuate in value. Knowing your net worth is important for asset allocation and long-term planning so you only need to calculate it once or twice a year or when you are making a major financial decision.

List your assets, such as your home, at their current market value and show any related debts such as a mortgage debt under the liabilities heading. It is important for you to know how to value your assets. For real estate and equipment, you can engage the services of an appraiser. There are, however, acceptable shortcuts such as the going price of real estate in the vicinity of your property. There are also professionals who can appraise the value of art works and jewelry. Stock prices may be estimated, using the latest market costs, which you can get from the business section of local newspapers.

If you hold assets not just in pesos but in other currencies such as the American dollar, note the currency in which they are denominated and their current value in pesos.

If your net worth is low or negative, there is no need to despair. Your net worth is not your score in the game of life; it is just a measure of how far you have progressed in building your wealth up to this point in time.

Now that you have obtained a realistic picture of your financial position, you can start making positive plans for the future.

cheers... :cool2:



kermit208

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Reply #8 on: Dec 01, 2008, 01:01 AM
isent your net worth total in assets.That you can use as cash or borrow on as cash. Say house is worth 1 million but bank will only lend you 600,000 then that asset is only worth 600,000  same with car you might pay 1 million but as soon as you drive it its only worth say 800,000 so value is 800,000 going down every year. so your house asset might go up every year but your car might go down


tyronesolee

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Reply #9 on: Dec 07, 2008, 10:38 PM
Waahhhh, malapit na ako sa 1M goal ko next year!  :applause:

As of now below pa ako e.  :hihi:


leela

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Reply #10 on: Dec 08, 2008, 10:52 AM
i'm trying to determine my net worth. confused lang ako sa ibang parts. how do i put the value of my condo unit? do i put in the 500K pag-ibig loan as liabilities? how do i know the current market value of my unit?


workoshore

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Reply #11 on: Dec 08, 2008, 03:27 PM
^check mo zonal values for approximate lang, para meron ka idea...see link...
http://www.bir.gov.ph/zonalvalues/zonalvalues.htm
cheers... :cool2:


richpulubi

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Reply #12 on: Dec 08, 2008, 03:31 PM

i'm trying to determine my net worth. confused lang ako sa ibang parts. how do i put the value of my condo unit? do i put in the 500K pag-ibig loan as liabilities? how do i know the current market value of my unit?


Just do Colayco's method.  Buy classified ads, find out how much a unit goes in your building, and subtract your pag-ibig debt.  THAT is your asset in that condo.


yojmg

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Reply #13 on: Dec 08, 2008, 03:37 PM
hypothetical lang po, meron po ako mamanahin from my parents, commercial building worth P20M, if lima kami siblings, i can say that from this meron ako na net worth of, say P4M?


richpulubi

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Reply #14 on: Dec 08, 2008, 03:43 PM

hypothetical lang po, meron po ako mamanahin from my parents, commercial building worth P20M, if lima kami siblings, i can say that from this meron ako na net worth of, say P4M?


Depende kung nakapangalan sa inyo yung building!  Kung wala sa Will ng parents mo, you have to bear in mind that if one of your parents dies, half the building is to the parent still alive. So, technically, you have roughly 2M(actually less).

Your parents can also choose to put it in ONLY one of your siblings' name.  Swerte mo na lang kung ikaw yun!

But, if your parents are still alive, that building is still officially not your asset.


 


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