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Old 05-10-2021, 03:14 PM
  #141  
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Originally Posted by Trip7
My guess is $2-$5 mil

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Are we talking about the pilot or the ex-wives?
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Old 05-10-2021, 04:19 PM
  #142  
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Originally Posted by reandld
What do you think the average net worth is for a Delta pilot in his late 50s-early 60s?
Enough that they keep getting slick packages from people who want to manage/steal their net worth.
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Old 05-10-2021, 05:03 PM
  #143  
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This time of year is always a painful reminder of Capital Gains taxes. 1st world problems

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Old 05-10-2021, 10:40 PM
  #144  
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Originally Posted by reandld
What do you think the average net worth is for a Delta pilot in his late 50s-early 60s?
Originally Posted by JamesBond
do a poll... make it anonymous though
Good suggestion. But in doing said poll you need to specify whether it’s just investment net worth or do you include things like real estate etc.

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Old 05-11-2021, 02:24 AM
  #145  
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Originally Posted by Denny Crane
Good suggestion. But in doing said poll you need to specify whether it’s just investment net worth or do you include things like real estate etc.

Denny
Net worth by definition takes into account all assets (cash, real estate, retirement accounts) and liabilities (mortgage, vehicle debt, etc). I look it as if I sold every asset and paid off every debt what do I have remaining? That is my net worth.
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Old 05-11-2021, 02:56 AM
  #146  
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Originally Posted by fishforfun
Net worth by definition takes into account all assets (cash, real estate, retirement accounts) and liabilities (mortgage, vehicle debt, etc). I look it as if I sold every asset and paid off every debt what do I have remaining? That is my net worth.
Correct. This is exactly what Net Worth is. Banks and other financial institutions, when evaluating a potential client for a loan, mostly chose to go the liquidity route over net worth, which removes Real Estate and Retirement Accounts from your Net, Worth. Some banks include retirement accounts but discount it by 50%.

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Old 05-11-2021, 04:44 AM
  #147  
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I tend to exclude my primary residence from net worth. Not saying a house can't be an investment, but I don't think of that way since I'm living in it.

I keep as little cash as possible. Last I checked, I have about $5 in my checking account.
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Old 05-11-2021, 04:47 AM
  #148  
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Originally Posted by reandld
I tend to exclude my primary residence from net worth. Not saying a house can't be an investment, but I don't think of that way since I'm living in it.



I keep as little cash as possible. Last I checked, I have about $5 in my checking account.
How do you pay your bills that can't be paid with a credit card? I keep a month of fixed expenses in checking plus alittle margin. Too much cash and the bank teller starts asking nosey questions like what do you do.

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Old 05-11-2021, 05:12 AM
  #149  
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Originally Posted by Trip7
How do you pay your bills that can't be paid with a credit card? I keep a month of fixed expenses in checking plus alittle margin. Too much cash and the bank teller starts asking nosey questions like what do you do.

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I have a good idea of what I spend each month. I seem to be able to pay all of those expenses with a credit card. After my pay check comes in, I set aside that amount so I can pay the credit card.

The rest goes to my investment accounts. The house is already paid off which frees up cash each month.
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Old 05-11-2021, 05:20 AM
  #150  
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Originally Posted by Trip7
How do you pay your bills that can't be paid with a credit card? I keep a month of fixed expenses in checking plus alittle margin. Too much cash and the bank teller starts asking nosey questions like what do you do.

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Dude who talks to a bank teller lol? I don’t think I’ve done that in over 5 years...
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