R u a wealth accumulator?

J

JuniorLion

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Another humblebrag thread.

So, pray tell us. Are you in the top 0.0000001%, ala Bill Gates level?
 
revhappy

revhappy

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I am 38. My annual income is 100k. Networth is 800k. 3.8 times 100k is 380k. So I am definitely a wealth aggregator. But what does that mean? You need to aggregate wealth to retire early. If not how to retire.?

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mummy1234

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revhappy said:
I am 38. My annual income is 100k. Networth is 800k. 3.8 times 100k is 380k. So I am definitely a wealth aggregator. But what does that mean? You need to aggregate wealth to retire early. If not how to retire.?

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Click to expand...

So if u r a wealth accumulator u must be on the right track.
 
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This thread shows two purpose only:
1) For the TS to humblebrag about her wealth and at the same time, remind everyone that she has a useless husband;
2) For the TS to insult people who are poor.

All under a poorly guised thread.
 
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mummy1234

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JuniorLion said:
This thread shows two purpose only:
1) For the TS to humblebrag about her wealth and at the same time, remind everyone that she has a useless husband;
2) For the TS to insult people who are poor.

All under a poorly guised thread.
Click to expand...

My hubby's networth higher than mine and yrs so he is not useless. He already found another job that pays nearly S$10k a mth again...:)
 
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mummy1234 said:
U can calculate yourself then . Age x annual income divided by 10 is yr target networth. If yr present networth is above that, u r a wealth accumulator.
Click to expand...

Think the lesser one is earning, the lower the target networth? So what happens if is a wealth accumulator? Is just showing good at saving money? If one earning less, is much harder to save.
 
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mummy1234

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Opps-gal said:
Think the lesser one is earning, the lower the target networth? So what happens if is a wealth accumulator? Is just showing good at saving money? If one earning less, is much harder to save.
Click to expand...

I guess good at saving and investing and on right track to retirement.
 
revhappy

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I think the formula just indicates that you don't blow away your entire salary and have a good saving habit. It is like if your annual income is 500k and you already worked for 15 years, but networth is only 1.5M, then it is a bad score for a saving habit.

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revhappy

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I will tell you a way to improve that formula.

Step 1) annual income X age/10
Step 2) networth/ figure from step 1.

If the answer is less than 1, you are a bad saver/investor.

If the answer is 1 to 2, you are good.

If the answer is above 2, you are awesome.

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revhappy

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existential_reality said:
Clicked submit but nothing happened, maybe the cookies on the sites abit buggy.
Click to expand...
The submit doesn't work. Calculate manually. Mummy 1234, you may want to update your post to tell people not to enter anything.

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