Net Worth Statement
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Monday, October 9th, 2006Have you ever wondered what your net worth should be based on your age? Although this doesn’t exactly show you what your net worth should be, it will give you an idea of what the average net worth is based on age range. Take a look at this Family Net Worth Chart from page A8 [...]
How to Determine if You Are “Wealthy”
Thursday, September 14th, 2006Have you ever wondered if you were “wealthy?” There is a rule-of-thumb formula used in The Millionaire Next Door for determining whether or not you are wealthy. For those who are interested, their simple formula is: Multiply your age by your pretax income from all sources (except inheritances). Divide that number by 10 to arrive [...]
A Review of “The 5 Lessons a Millionaire Taught Me”
Monday, September 4th, 2006It’s not a new book, but I did finally get around to reading The Five Lessons a Millionaire Taught Me by Richard Paul Evans. I enjoyed it. Here’s why:
How Buying a NEW Car Affects Your Net Worth
Wednesday, July 12th, 2006Have you ever thought about how buying a new car affects your net worth? I did a little research and found out that the average new car depreciates 20% as soon as you drive it off the lot. So, if you buy a $30,000 car, it will be worth $24,000 the moment you drive it [...]
Are You One of the 8.3 Million Millionaire Households?
Friday, April 21st, 2006A recent survey released by the Spectrem Group found that there are 8.3 million U. S. households with a net worth of $1 million or more (excluding primary residence). That represents an increase of 800,000 households over 2004.
Top Ten Millionaire Counties
Tuesday, March 28th, 2006Here’s an interesting article about the Top Ten Millionaire Counties from CNN/Money.com. The millionaire households
How Big is Your Home Equity Cushion?
Saturday, February 25th, 2006I just read an interesting article called What We Own vs. What We Owe by Kenneth Harney of the Washington Post. The article talks about something called the home equity cushion, which is the amount of equity you have in your home divided by the amount you owe. Here’s how you calculate the ratio:
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