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xanx	12-16-2007 12:46 AM

What Your Net Worth Should Be

Quote:

According to Thomas J. Stanley, author of "The Millionaire Mind" and "The Millionaire Next Door," a good way to determine what your net worth should be is to multiply your age by your annual income (all sources) and then divide by 10. So, for example, if you are 30 years old and earn $50,000 a year, you should have a net worth of $150,000. If you are 40 years old and earn $100,000 a year, you should have a net worth of $400,000.

ok, so who's meeting or exceeding their expected net worth :winkwink:

woj	12-16-2007 01:29 AM

this doesn't really work very well for young people, lets say you are 18 and just started making 200k/year, you are expected to have net worth of 360k?

After Shock Media

12-16-2007 01:32 AM

Quote:

Originally Posted by woj (Post 13520967)

this doesn't really work very well for young people, lets say you are 18 and just started making 200k/year, you are expected to have net worth of 360k?

If you are 18 and started making 200k you are well ahead of the game anyways and you are just in a position of bad choices and possibly loosing money.

L-Pink

12-16-2007 02:09 AM

Good formula for underachievers.

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