Assets Minus Liabilities

Discussion in 'Money & Finances' started by Hal Pollner, Aug 22, 2019.

  1. Hal Pollner

    Hal Pollner Veteran Member
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    How many of you have a Net Worth (Assets minus Liabilities) of One Million Dollars or more?

    Hal
     
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  2. Bess Barber

    Bess Barber Veteran Member
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  3. Hal Pollner

    Hal Pollner Veteran Member
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    Thanks for your response!

    Is that in Property, Securities, Cash, or a combination?

    If you deem this an unnecessary probing, then please show a picture of your favorite pet.

    Harold..... (Shown are canine Jackie and feline Annie.)
     

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  4. Ken Anderson

    Ken Anderson Senior Staff
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    I am reasonably certain that Hal isn't trying to set anyone up for a home invasion, but there are some things that we might want to be careful about discussing online, which is why I haven't mentioned that my house is insulated with gold bullion.

    The other part of the thread title is worth considering, though. A lot of people with large paper assets wouldn't survive very long if their income suddenly ceased because of the liabilities that might come with it. When I owned an ambulance company, we were bringing in sometimes more than two million a year but the liabilities ate up so much of what was coming in that some weeks, we couldn't even pay ourselves. Then there was the money we were owed, but would never collect.
     
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  5. Beth Gallagher

    Beth Gallagher Supreme Member
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    Some things are better kept to ourselves. (Of course, anyone can be a millionaire on the internet. :D)
     
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  6. Bess Barber

    Bess Barber Veteran Member
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    No. I think it's a really interesting question! My response is really my response to your question when it comes to my finances.
    My high point is that I'm so frugal, I can live comfortably on less money than a medieval peasant.
    No fear of home invasion. If anyone tries to rob or con me, the jokes on them. They wasted all that time for nothing.
     
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  7. Thomas Stearn

    Thomas Stearn Veteran Member
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    Don't count on me, Hal. I spent it all. :)
     
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  8. Lon Tanner

    Lon Tanner Supreme Member
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    I am happy to say that I have just ASSETS & not one single LIABILITY.
     
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  9. Hal Pollner

    Hal Pollner Veteran Member
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    We should all be enjoying your status, Lon!

    Harry
     
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  10. Jerry Adams

    Jerry Adams Veteran Member
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    I'm enjoying Lon's status.
     
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  11. Bobby Cole

    Bobby Cole Supreme Member
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    Dunno.
    My Father owns a lot of property and I’m told He has a lot of cattle too. I’m told that I’m a joint heir to a place with gold streets but I’ll have to wait and see how that works out.

    Oh, I suppose ya’ll mean my present finances. I don’t have a lot of money but I don’t owe any money. I am extremely healthy, my brain still works and I have all I want and much more than I need in the way of stuff.
    I guess I could say that the majority of seniors with a net worth of a million + probably aren’t worth as much as my wife and I are.
    Matter of fact, I don’t even have a credit score but then again, neither does Dave Ramsey.
     
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  12. Hal Pollner

    Hal Pollner Veteran Member
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    Hear Hear!

    Hal
     
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  13. Bob Kirk

    Bob Kirk Veteran Member
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    Like Lon we have no liabilities. Like most our assets are on paper so invested quantity is subject to the ebb & flow of the stock market. Ever cautious cash enough to last us until we both die.
     
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  14. Tom Young

    Tom Young Very Well-Known Member
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    Ditto. :)
     
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